News: Wipro introduces grade system to retain talent

Performance Management

Wipro introduces grade system to retain talent

In order to ensure that its employees in the entry and mid level segment continue to grow, Wipro, India’s third largest IT service provider has conceptualized a system of grades or bands to further enhance the process of giving promotions and wage hikes. Wipro has particularly decided to focus on these segments because these are the ones that run the risk of facing high attrition levels. In the new process, Wipro’s employees will be categorized into five grades viz. A, B, C, D and E on the basis of their experience and seniority. While freshers will fall under grade A, senior employees such as of the VP level will fall under grade E. As and when the candidate will gain experience, he/she will be elevated to higher grades. Freshers on completion of one year of service will be promoted to grade B1 and then subsequently to B2 and B3. Wipro decided to adopt this method to grant promotions and salary hikes as attrition levels in the sector have gone up tremendously, case in point being Infosys, which is currently witnessing attrition levels as high as 16%. And therefore, IT companies are coming out with innovative tools to prevent their best talent falling prey to talent poaching and to retain them.

In order to ensure that its employees in the entry and mid level segment continue to grow, Wipro, India’s third largest IT service provider has conceptualized a system of grades or bands to further enhance the process of giving promotions and wage hikes. Wipro has particularly decided to focus on these segments because these are the ones that run the risk of facing high attrition levels. In the new process, Wipro’s employees will be categorized into five grades viz. A, B, C, D and E on the basis of their experience and seniority. While freshers will fall under grade A, senior employees such as of the VP level will fall under grade E. As and when the candidate will gain experience, he/she will be elevated to higher grades. Freshers on completion of one year of service will be promoted to grade B1 and then subsequently to B2 and B3. Wipro decided to adopt this method to grant promotions and salary hikes as attrition levels in the sector have gone up tremendously, case in point being Infosys, which is currently witnessing attrition levels as high as 16%. And therefore, IT companies are coming out with innovative tools to prevent their best talent falling prey to talent poaching and to retain them.

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Topics: Performance Management, Compensation & Benefits, Employee Engagement, #Updates, #Retention, #TotalRewards

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