BENGALURU: The Indian IT industry has been struggling to retain talent and for a few quarters now, the top IT companies are reporting over a 20% attrition rate. In a step to retain its talent, Wipro to offer promotions to its employees every quarter starting July, and salary hikes from September. “The quarterly promotions have been effective this month, and also salary increases for those eligible in September 2022,” Wipro CEO Thierry Delaporte said, adding this is very new to the industry.
The company’s attrition rate stood at 23.3%, and this is said to continue for a few quarters before stabilising. The company’s total headcount stood at 2,58,574. Tata Consultancy Services has reported an attrition rate of 19.7% and HCL’s attrition rate jumped to 23.8% as of June 30, 2022.
Delaporte said the company’s attrition is moderate compared to the previous three quarters, and he expects it to moderate too in coming quarters. “We have added over 10,000 freshers in the first quarter, and we will be adding over 30,000 in FY23, and there is no dearth of quality among freshers,” Wipro Chief Human Resources Officer and President Saurabh Govil told TNIE. Also, many start-ups are laying off and the talent might move to the IT industry considering its stability.