India-based IT giant, Wipro has reached a milestone of a $10 billion annual revenue run rate. Along with that, more than 11,000 employees are hired by the firm during the Q2 of the ongoing financial year.
With the hiring of 8,150 freshers, the company surpassed its target of hiring 6,000 freshers in Q2. While Wipro was performing record hirings in the last quarter, its attrition rate also increased by 5% from 15.5% to 20.5%.
According to Wipro’s statement during an earnings call, the IT major has set the target of performing over 12,000 freshers in the current financial year, which is 33% higher than the last FY.
Through such large hirings, the company is trying to build the supply chain during increasing attrition rates.
According to Wipro’s CEO and Managing Director, Thierry Delaporte, the strategies being followed by them are well proven right by the Q2 results. For the last two quarters, the company has been recording an organic sequential growth of over 4.5%. Along with that, it observed a year-on-year growth of 28% in the first six months of 2021.
Delaporte also expressed his concerns about the large attritions, even after accelerated hirings.
He added that Wipro has performed the campus placement of around 8100 students in Q2. He also announced the company’s plan to hire more than 25,000 freshers, next year.
According to the IT company, they will hire more than 30,000 people in 2021, but they will join the firm in 2023.
According to Wipro’s chief human resources officer, Saurabh Govil, their major priority is to prevent supply-side constraints from impacting their growth. It is the high attrition rates that have made them hire more than 10,000 employees in two consecutive quarters.
In the current financial year, the company increased the fresher’s hiring by 2 times, while the hiring is expected to increase by 3 times in the next financial year.