According to Wipro’s Chief Human Resources Officer, future compensation increases will be contingent on staff upskilling and reskilling, notably in cybersecurity and AI. The corporation will not hire with a 30% rise, and specialty skills like generative AI and cybersecurity will be compensated more.

Wipro’s Chief Human Resources Officer has stated that future compensation increases will be dependent on employees’ ability to upskill and reskill themselves, particularly in the areas of cybersecurity and artificial intelligence.

Wipro’s chief HR officer, Saurabh Govil, told the Times of India that when the economy slows and recruiting decreases, IT professionals should focus on upskilling. Wipro HR has declared unequivocally that the business will not hire with a 30% rise.

According to Wipro HR, the company’s attrition rate was particularly high in 2021, and “people were being hired at 30% premiums.” That will not happen now,” he declared.

Govil also stated that specialized talents such as generative AI and cybersecurity will be valued.

Wipro encouraged freshers this year to contemplate a reduced beginning salary. The IT major had written a letter to candidates who had been offered a ₹6.5 LPA compensation package, asking whether they would be ready to join with a  ₹3.5 LPA income.

According to the organization, more than 90% of freshers have accepted lower-paying jobs at Wipro in order to expedite their onboarding.

In January of this year, Wipro, one of India’s largest IT software businesses, fired hundreds of newer employees due to poor performance. Wipro performed an internal evaluation test in January this year, and employees who scored the lowest were asked to leave. Following the internal assessment, Wipro terminated 452 freshers.

Wipro fired roughly 300 employees last year for working for competitors while still on the company’s payroll.

Wipro, headquartered in Bengaluru, competes in the IT services industry with larger rivals such as Tata Consultancy Services (TCS) and Infosys and reported a net profit of ₹3,074.5 crore for the just-ended quarter, up from ₹3,087.3 crore the previous year.

According to the report, revenue for the March 2023 quarter was ₹23,190.3 crore, up 11.17% year on year. The net profit for FY23 was ₹11,350 crore, 7.1% lower than the previous year, while revenue was ₹90,487.6 crore, 14.4% higher.

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