Bengaluru: Wipro will pay a onetime bonus to junior employees who have remained with the company since they have been hired from college campuses, an effort to curb attrition of engineers with less than five years of experience.
Typically, engineers with such experience also have expertise in skills in new areas of digital and cloud, business segments that are growing for Wipro and across the industry.
This initiative comes at a time when Wipro and its IT services rivals such as Infosys, Cognizant and HCL Technologies lose talent to one another as well as captives of multinationals who are expanding in India to build digital capabilities.
Wipro will pay a percentage of their total compensation as bonus with the January salary, primarily to employees in the B1 and B2 bands, a person familiar with the matter said.
An employee needs to commit to stay at the company till 2020 to avail of this benefit.
A Wipro spokesperson confirmed the move, saying that the plan is to incentivise high-performing individuals in niche domains and technologies and employees hired from campuses.
“We incentivise high-performing individuals who are engaged in futurefocussed niche technologies and domains with periodic salary interventions.
The recent intervention was for junior employees hired from campuses for technical roles,” Wipro said in an email.
“These employees will be eligible for annual increments as well.” Wipro announces its annual increment in June every year.
Bengaluru based Wipro employed 1.75 lakh people as on September 30.
A significant chunk of them were at the bottom of the pyramid with 1-5 years of experience, who could be considered as junior employees.
Wipro’s cross-town rival Infosys has started programmes to allow employees to learn skills and allow them to be consultants with a commitment that it will double wages for those who successfully complete them.