Wipro announces salary hike for 80% of its employees
There is good news in store for the employees of IT sector giant Wipro. The IT major has announced a salary hike for around 80 percent of its employees, which will come into effect from September 1, 2021.
In a statement, the company said it will initiate merit salary increases for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021. It also announced that all eligible employees above band C1 (managers and above) will receive pay hikes effectively from June 1.
"On average, the increments will be in the high single digits for offshore employees, mid-single digits for onsite employees. The company will reward top performers with substantially higher increases," it added.
The aforesaid bands constitute 80 percent of the company’s workforce.
This makes it the second salary hike for the employees in this calendar year. Before this, the IT major had announced salary hikes for eligible employees in these bands in January 2021. Meanwhile, its attrition levels jumped to 12% in the quarter to March, which goaded it into action to offer skill-based bonuses, salary hikes for senior leaders in June as well as promotions across the organization.
Wipro however is not alone in this endeavor. Rival TCS rolled out salary hikes for 2021-22, effective April 2021. The hike rewards its 4.7-lakh strong workforce for delivering growth amidst a global pandemic. The hike is a sign of the fact that India's information technology companies are expected to return to pre-pandemic growth levels, bolstered by strong demand and large deals signed in the previous two quarters.