IT major Wipro will be hiring 12000 freshers in Financial Year 2022, a 33 percent higher than the previous financial year. 2000 people of those 33 percent have already joined the company in the first quarter, and another 6000 hired will join the company in the second quarter.
Wipro said it would be hiring 30000 freshers from campuses, of whom 22000 will join the company in the next financial year, 2023. However, this is the highest number of jobs the company has offered during campus placements in a fiscal year, company officials said.
Thierry Delaporte, CEO & MD, Wipro, said, “We have doubled campus hiring, and the company is focusing on reskilling. In FY22, Wipro will onboard 33 percent more freshers.
Rising attrition rate
Wipro reported an attrition rate of 15.5 percent in the Q1 of FY22, up from 12 percent of the previous quarter. The company acknowledged that the attrition rate is expected to continue for few quarters, but it is an industry-wide phenomenon and not a company issue.
As demand rises and so the attrition, IT companies hire more freshers instead of depending on lateral hires or sub-contractors that can add pressure to margins.
Wipro has taken several measures to contain attrition and retain talent. Almost 80 percent of the workforce received an early salary hike in this calendar year, and the company will announce a second hike for employees in September.
The company announced a salary hike in June for professionals in the middle and senior levels. Almost 80 percent of the employees have seen three cycles of promotions in a year, and in the previous quarter, it announced skilled-based bonuses.
Sourabh Govil, Chief HRO of Wipro, said growth is the key for the company, and supply-side constraints will not impact it. In addition, the company will take financial measures and be hiring through campuses, which is the highest ever for Wipro.
The mass hiring indicates Wipro’s focus on the pyramid structure of people management. The company reported robust growth in Q1 of FY22 with a 12.4 percent increase in revenue.