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The country’s third largest software exporter Wipro has said it will increase the salaries for its offshore employees (based outside India) by 12-15 per cent as it looks to tame high attrition rates.
The wage hike, effective June 1, will be to the tune of 2-4 per cent for onsite staff (employees in India).
“We have announced wage hikes effective June 1, 2011, which would have an impact on the operating margins... It will be 12-15 per cent for offshore and 2-4 per cent for onsite employees,” the Wipro Executive Director and Chief Financial Officer, Mr Suresh Senapaty, said today.
Wipro, which has been competing with domestic and global rivals like Tata Consultancy Services and IBM, has been witnessing high levels of attrition over the last few quarters.
“Is it (attrition rate) comfortable, it is not...
However, we have been able to bring down the attrition through the year. When you go back a couple of quarters, we were at a level which was north of 23.5 per cent and from there, we have been able to bring it closer to about 20 per cent,” the company Human Resources Vice-President, Mr Pratik Kumar, said.
Mr Kumar added that voluntary attrition came down to 20.9 per cent in the fourth quarter of FY’11 from 21.7 per cent in the preceding quarter.
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