The increment given to its employees by Wipro this year is speculated to be somewhere between 6 to 8 percent. However, the company has offered “substantially higher” increment to high performers.
Recently, Wipro had also offered special incentives for employees with niche skills such as data science and Last December, it had also announced special bonus to campus hires to curb attrition.
Under the new initiative, Wipro said it would pay a one-time bonus to junior employees who have remained with the company since they have been hired from college campuses. It also included engineers who have expertise in skills in new areas of digital and cloud, business segments that are growing for Wipro and across the industry.
Wipro has about 1.7 lakh employees (as on March 31, 2019), with a large chunk of them at the 1-5 years’ experience level.
As it is often low pay package for junior employees’ that makes them switch jobs even for a less hike in salary, resulting in higher attrition. The newly introduced bonuses and now the pay hikes might enhance the motivation of employees at Wipro.
While Wipro seems to be incentivizing its employees, the single digit pay hike (6-8%) seem to be lower than the average pay hike (10%) expected for this year. Back in 2017 as well Wipro had given average salary hike of 5 percent to its employees.
Although the average pay hikes for all of its employees have been in single digit in last three years, last year, Wipro had given generous pay hikes to their top executives. Rishad Premji’s salary had increased by 250 percent. Saurabh Govil, President, and CHRO, had also received a three digit percentage increase in salary.
Now, as Wipro is yet to publish latest annual report, let’s wait and watch to see the latest increment in salaries for the company's top leaders and employees.