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Wipro has hiked wages of its employees by seven per cent, in line with the industry, to curb attrition and rejuvenate growth.
In a statement, Saurah Govil, global head of HR for India’s third largest software exporter, said that average salary hike for offshore employees would be seven per cent, whereas onsite would be two per cent.
Further, the company also increased fixed pay of its junior and mid-level employees but did not quantify this increase. When contacted a company spokesperson said that they do not give a break-up of this.
An employee in Wipro said that they had received an email in the morning and the details will be only known next month.
The company’s revenue grew 8.1 per cent in 2015 financial year.
This increase is below cross town rival Infosys, who has given pay hikes in the range of 6.5-9 per cent for its India-based employees and two per cent for onsite employees. India's largest exporter TCS has given wage hikes of 8 per cent for its India-based employees and 2-4 per cent for onsite employees.
The trend over the last 3-4 years also pointed out that the days of hefty pay raises are a thing of the past.
“Forget double digit hikes unless you are a high performer or have domain and tech skills,” said Kunal Sen, Senior Vice-President at TeamLease. “Going ahead, hikes will be conservative as the industry itself is expected to grow at a not so scorching pace,” he added.
According to Nasscom, the Indian IT industry is expected to grow in the range of 12-14 per cent this financial year, more or less flat when compared to the previous three years. According to Sanchit Gogia of Greyhound Research, the IT industry is evolving and there’s a need for a workforce that has the domain expertise and understands and breathes the business. It’s only a handful that will take away better hikes.
High performers rewarded Govil, however, added that high performers are being rewarded with substantially higher increases in their compensation. The IT services segment of Wipro had a total headcount of 158,217 at the end of 2015 financial year.
Last year, Wipro had given pay hikes in the range of 6-8 per cent for offshore and 2-3 per cent for onsite employees.
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