IT firms had slowed down hiring from college campuses due to a lacklustre business growth along with automation which affected fresh hiring across software services projects at IT companies.
Wipro, the country's fourth largest IT services company, is planning to double hiring from campuses in a bid to meet new orders from clients and to address shortage issue due to high attrition. The IT major has seen a significantly higher attrition rate at more than 17 per cent for the past three quarters of this fiscal.
According to the ET report, Wipro hired less than 10,000 people from campuses and a plan to double this year would also include onsite hiring as its peers are ramping up localisation in the US and other markets. Wipro and other Indian services companies used to recruit roughly 20,000 people from campuses during their peak. Wipro aims to contain its attrition rate at 14-15 per cent in next two-three quarters.
Wipro has now restructured its entry-level job offers with higher salary packages (Rs 6 lakh and above) based on their skills in digital technology areas. It follows tiered hiring model for freshers segmented into three major categories with packages of Rs 3.5 lakh, Rs 6- Rs 6.5 lakh at the mid-tier and up to Rs 20 lakh for graduates from premier technical universities like the Indian Institute of Technology.
In an attempt to curb attrition, Wipro had announced a one-time bonus to junior employees with less than five years of experience, who have continued working in the company after campus recruitments, in the December last year. In the last three years, firms like Infosys, HCL, Wipro and Cognizant have invested millions of dollars to train existing workforce in new technologies and redeploying them in projects.
Wipro on a hiring spree.