Wipro Employees Will Get a Salary Increase: Who Is Eligible? 1.97 Lakh Wipro Employees Will Get a Salary Increase: Who Is Eligible? Why?

 

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Wipro, one of India's biggest IT services businesses, has announced a significant compensation increase for all of its younger employees!

This is the second hike this calendar year, and it will go into effect on September 1, 2021.

Continue reading to learn more!

Wipro Is Considering Raising Salaries For Junior Employees

Wipro Limited has indicated that beginning September 1, 2021, merit salary increases (MSI) will be implemented for all qualified workers up to Band B3 (Assistant Manager and below). Wipro has announced compensation increases for employees in these categories, which account for 80% of the company's workforce.

On average, the increments will be in the high single digits for offshore personnel while it will be in the mid-single digits for onsite staff, top performers will be rewarded with significantly greater raises, Wipro said in a statement.

Wipro recently announced another compensation increase in an effort to retain employees, a mission the company refers to as its "battle for talent." The raise is one of several measures, including promotions and skill-based bonuses, aimed at putting the company ahead of the market for diverse and skilled employees.

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Following Wipro's announcement of a raise for 80% of its employees in June, the company has announced a second hike.

Wipro announced a second compensation increase for 80 per cent of its employees in June. All employees in Band 3 or below, which in layman's terms implies all employees in the position of Assistant Manager or below, will be eligible for this new compensation boost, according to the announcement. This effectively covers almost 80% of the workforce.

Wipro announced its first compensation increase for all eligible workers in December 2020.

Wipro's CEO earns the highest remuneration of any IT company in India.

Wipro CEO Thierry Delaporte earned Rs 37.9 crore in FY2020 despite working entirely from home.

With a total staff of 1.97 lakh, Wipro's attrition rate was 12.1 per cent as of March 31, up from 11 per cent in Q3 FY21.

The reasons for this can be traced back to the strong demand for specialist talent.

(Source: Trak)