Wipro, despite being one of the leading IT service providers in India, has seen its employees quitting on the company left, right and centre.
The attrition rate at the company has increased in the last three months.
Why is Wipro losing its employees at an alarming rate? Read on to find out!
Wipro And Infosys Attrition Rate Increased Over The Last Three Months
Wipro’s attrition rate has reportedly increased from 11% to 12.1% over the last three months, ending March 31. A rate of attrition of 12% is the industry average, and the company does not believe that the situation would be better any time soon.
As per Saurabh Govil, Wipro’s chief human resources officer (CHRO), “Given the growth environment in the industry, we see attrition. We see continued pressure. We see attrition picking up in the first quarter [April to June].”
In fact, Wipro has announced that multiple measures are being taken to retain their employees. These include promotions, salary hikes, and skill-based bonuses for the employees.
Govil confirmed that the company did a promotion cycle in December for junior employees, and the company will be doing it again in June.
Infosys, another leading Indian IT company has also seen a huge increase in the attrition rate. The attrition rate of Infosys has gone up by 5%, what was 10% before, went up to 15% in the last three months, ending March 31.
Why Has The Attrition Rate At Wipro And Infosys Increased?
The primary reason behind this increase in the attrition rate is that employees are finding a huge amount of opportunities in the IT industry. This is credited to the pandemic and lockdown that has made multiple firms and organizations choosing to work digitally.
Analysts are also saying that a second wave of outsourcing is here. There is a huge demand for talent in the some specific areas, such as the internet of things (IoT), cloud services and other arenas. However, while there are multiple people looking for jobs, the people who are talented in these particular areas.
However, even if the companies do hire people, they dont mind leaving for a better pay that is offered to them.
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