Fourth largest IT service company, Wipro is planning to double its campus hiring process from this year onwards. According to a report this has been done to meet new orders from the clients and to address shortage issues which were being faced because of lesser hirings.
Though the IT Company has seen a significantly higher attrition rate at more than 17 per cent from 3 quarters of the fiscal year but had slowed down hiring from college campuses due to lack in business growth and automation.
Reports suggest that Wipro might have hired less than 10,000 people from the campus and have plans to double it by including onsite hiring as its counterparts are ramping up localization in the US and other markets.
“We had seen a dip in our hiring. Now, we are doubling from previous years,” Saurabh Govil, chief human resources officer, Wipro, told leading news agency. He said that the industry has again started seeing the hiring of tens of thousands of engineers from campuses after a lull. During its peak, Wipro and other Indian services companies used to recruit roughly 20,000 people from campuses. He added that “We have come back to those numbers,” Wipro aims to contain its attrition rate at 14-15 per cent in next two-three quarters.
Restructuring has been done in entry-level job offers with higher salary packages (Rs 6 lakh and above) based on their skills in digital technology areas followed by the hiring model for fresher’s which are segmented into three major categories with packages of Rs 3.5 lakh, Rs 6- Rs 6.5 lakh at the mid-tier and up to Rs 20 lakh for graduates from technical universities like the Indian Institute of Technology (IIT).
Also to curb the attrition Wipro had given a one-time bonus to the junior employees with less than 5 years of experience who have continued to work in the company after the campus recruitment.
Statistics reveal, In December quarter, the company posted 39.5 per cent increase in its net profit at Rs 2,518.4 crore on standalone basis compared to Rs 1,804.5 crore reported in the corresponding quarter in the year-ago period. The revenue from operations also spiked to Rs 12,138.7 crore during the December quarter of current fiscal as compared to Rs 11,072.7 crore to the same period from the past financial year after an annual increase of 9.6 per cent.
Earlier firms like Infosys, HCL, Wipro and Cognizant have invested millions of dollars to train the existing workforce in new technologies and by assigning them in projects.