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Wipro plans second pay rise in October
Wipro, the country's third-largest information technology services company, is planning to give a pay rise to employees at its IT services division, with effect from October.
The rise, if it materialises, will be the second in this calendar year by the Bengaluru-based company.
Sources in the company said the company had already started appraisals to give the hike from October. The Azim Premji-owned company -- which also has interests in consumer care, lighting and engineering equipment -- usually gives salary hikes to its offshore employees in October and onsite employees in January.
In 2009, the company extended its annual compensation hike to February 2010 due to the slowdown. This year, the company is going ahead with its policy of giving wage hikes in October.
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Wipro plans second pay rise in October
The company's human resources head, Pratik Kumar, could not be reached, and an e-mail sent to him remained unanswered.
Wipro, which saw its attrition rate moving upward during the last two quarters, has already reshuffled its grade structure by creating one more band in the 'B' grade, which has the highest concentration of employees.
About 20,000 people were taken in this new band (B3), with promotions and salary raises effective from last month. The company also revised wage for its overseas employees in specific countries.
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Wipro plans second pay rise in October
Being a normal year, this year's hike is expected to be in double-digit. "The indications we are getting from the management is that the hike will be in the lower double-digit," the sources added.
In October 2008, Wipro had raised wages by seven to eight per cent.
With an improvement in business environment, most Indian IT companies, including Infosys, Wipro, TCS and HCL, saw a surge in their attrition rates during the last two quarters.
To contain this, IT companies are resorting to various initiatives, including salary hikes and generous variable pay, among others.
