Good News! Wipro Plans to Promote 80% of Its Staff; Makes BIG Announcement on Increments too

Amid pandemic and global crisis, IT major Wipro Ltd, has reported a reasonably strong set of results for the quarter ended September. They have reported a consolidated profit of Rs 2,465.7 crore for the July-September quarter.

As per MoneyControl report, Wipro's quarterly numbers came on expected lines and it recorded quarter-on-quarter (QoQ) improvement on most parameters. The company also announced the share buyback of Rs 9,500 crore. 

Among all the good news, Wipro is all set to implement ‘a number of employee interventions’ in the third quarter, which will be the biggest is its endeavour to promote 80 percent of its eligible staff over the next three months.

Giving update on this news, Wipro Chief of Human Resources (CHRO) Saurabh Govil confirmed that the increments this time around will be in line with what was given last year. 

“This will make sure that we are rewarding the high performing team members and colleagues,” he said during the earnings call on October 13.

“Now, we’re looking at our increment cycle of junior employees who we’ve hired from engineering colleges,” added Govil.

Meanwhile, the company added 30,000 people to its roster between July and September. It also paid out 100 percent variable pay to its employees in the second quarter, Business Insider reports. 

Sharing details about the H-1B restrictions which have been imposed by the Trump administration in the US, Wipro is not worried as localisation of employees has been in the work for three years now. 
Currently, nearly 70 percent of Wipro’s employees in the US are local.

“From a business standpoint, we don’t see this impacting us,” said Govil. Also, 98 percent of Wipro’s employees continue to work from home amid a pandemic which will continue until the end of the year.