The fourth-largest IT services company in India, Wipro Ltd. has announced a record number of senior-level promotions to reinforce its leadership and retain talent. The IT services firm has elevated 73 employees including senior executives and executives.
Wipro rolls out record senior promotions to retain talent
In order to bolster its leadership pipeline, Wipro Ltd. has now announced a record number of senior promotions. The business promoted 12 top executives to the position of senior vice president (SVP), while 61 others were given the title of vice president (VP). As a result, Thierry Delaporte, the CEO of the tech company, is now working with around 200 VPs and 32 SVPs.
This change coincides with a period of significant senior exists from the company.
“As we grow and evolve as a company, it is important to ensure that we have the right leadership at the helm. We can confirm that 12 senior executives have been promoted to the post of senior vice president. Additionally, 61 executives have been elevated to the position of vice president, the highest number of VP promotions that Wipro has ever made,” said the company in response to an email query from Mint.
The Attrition Rate
The company, which recorded a 23.3% attrition rate in the July-September quarter, will release its results for the months of October and December on Friday. At least four senior executives who were in-charge of the company’s operations in four countries left Wipro the previous year. They were – Douglas Silva, who oversaw business in Brazil; Tomoaki Takeuchi, who joined as head of business for Japan; Sarah Adam-Gedge, who took over as managing director of Australia and New Zealand; and Wipro’s head of business for the Middle East region, Mohammed Areff.
Among Wipro’s most important retention strategies has been the use of promotions, particularly for keeping senior talent. The business made the decision to give its top talent quarterly promotions at the start of the fiscal year. Some of them received an early promotion in July, and in addition, in September, they received an approximately 10% pay raise.
