Wipro has announced its five-year plan for freshers detailing their salary structure, including annual increments and bonuses for campus hires.
According to a report in Livemint.com, Wipro’s Chief HR Officer Saurabh Govil said, “We communicated a very clear five-year plan from career and compensation perspective. In the communication in offer letters, we said how their salary will progress over the next five years. There is a lot of surety given to them on what is going to happen including the deferred bonus over and above the hikes that will take place.”
Sourabh also said, “Over 15,000 people have been hired by Wipro so far in this year 2022. The variable compensation component was 100 percent for about 85 percent of its employees.”
Commenting on the moonlighting, he said, “We’re also attempting to identify moonlighters by cross-checking employee provident fund information and interacting with companies.”
Wipro’s retention strategy was rolled out after a talent war broke out as companies went on a hiring frenzy to meet the demand for digitizing operations for firms across sectors. Wipro said it will honour all offers it made so far and onboard candidates in phases.