Wipro will offer 87 per cent of variable pay to its employees for the quarter ended December 2022, the company said in an internal email. The pay will be given for staff in bands A to B3 as well as for those in support roles, whose pay is linked to the company’s performance.
The company said it will be releasing the payout in the February payroll.
For all others, the payout depends on achieving their unit/function target in accordance with policy. They will be paid more if they surpass their unit’s goal or less if they don’t, the company added.
“To drive our common goals, our business-linked variable payout is based on a quarter’s performance against revenue, bookings and operating margin,” Chief Human Resources Officer Saurabh Govil said in the mail. The revenue rose 0.6 per cent compared with the previous quarter (in cc terms) while bookings increased 23.7 per cent. Operating margin, too, came in at 16.3 per cent, which was below the planned target, he noted.
Wipro’s rival TCS rolled out 100 per cent variable pay for a majority of its workforce for Q3.
The company has not made a comment on the queries sent by businessline, by the time of publication.