As attrition rises, Wipro to hit campuses to hire record 30,000 freshers

Wipro will hire 12,000 freshers in FY22 — 33 per cent higher than the previous financial year — of whom 2,000 have already joined the company in the first quarter, while another 6,000 will join in the second.

The company further said it will be recruiting 30,000 freshers from campuses, of whom 22,000 will join the company in FY23. Wipro officials said this is highest number of jobs the company has offered during campus placements in a single fiscal year.

“We have doubled campus hiring and are focusing on reskilling. For FY22, we will onboard 33 per cent more freshers,” Thierry Delaporte, CEO & MD, Wipro, said during a media call. The company acknowledged that attrition is expected to continue for a few quarters, but it is an industry-wide phenomenon and not a company issue.

As demand kicks in and attrition rises, IT services companies are increasing the intake of freshers, instead of depending on lateral hires or sub-contractors that can add pressure to margins. For the first quarter of FY22, Wipro reported an attrition of 15.5 per cent, up from 12 per cent in the previous quarter. The company has taken several steps to contain attrition and retain talent. Almost 80 per cent of the workforce received an early salary hike in this calendar year, and a second round will be done in September. Wipro announced a salary hike in June for professionals in middle and senior positions. Almost 80% of the workforce has seen three cycles of promotion in 12 months, and in the previous quarter, Wipro announced skilled-based bonuses.

Sourabh Govil, chief human resources officer (CHRO), Wipro, reiterated that growth is key for the company and that supply side constraints will not impact it. “Apart from taking financial measures, we are going ahead with an unprecedented hiring — the highest ever for Wipro. We are making sure that we have a pipeline to manage the demand,” he said.

The mass hiring also means that Wipro is refocusing on the pyramid structure of people management. “We certainly see the pyramid structure as a core aspect of our margin management. However, this is not new. The revenue growth that we are seeing gives us a new fillip and a renewed opportunity of adding more young engineering talent at the bottom of the pyramid,” said Jatin Dalal, CFO, Wipro.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor