Wipro to hire over 12,000 freshers in FY22, up 33 percent from last year FY21, as demand for talents is on the rise since enterprises are shifting to digital, and increasing rate of attrition.
It will on-board a record 6,000 freshers in the second quarter ending September 2021, and will be rolling out more than 30,000 offer letters to campus hires this year, who will be joining Wipro in FY23.
This is in a bid to address rising attrition and build the supply chain, even as the demand remains robust.
Thierry Delaporte, CEO, Wipro said during the earnings call on July 15, that high attrition has become a universal problem, and Wipro acknowledges the issue and is adopting to it.
“We have doubled down on increasing intake from our campuses across the world and reskilling our existing workforce. We will on-board 33 percent more freshers in FY22 than in the previous year,” he said.
“Growth is our priority and we will ensure that talent supply is not a constraint to our mission,” Delaporte said. However, the company does expect some inflation or pressure in the people cost.
The company signed 8 large deals with a total contract value of $715 million. The company also saw the customer in the over $100 million range increase to 13 from 11 and $50 million accounts stood at 42 from 40 in Q1 FY22 compared to the previous quarter.
However, attrition is clearly a worrying trend. The company’s attrition increased to 15.5 percent in Q1 FY22 from 12 percent in the previous quarter. While the company said that the rate is in line with expectation, and it is putting in place measures such as promotions and role-based bonuses, Wipro is building up its fresher pipeline to meet the growing demand.
To ensure that there are no pressures when it comes to supply chain, Saurabh Govil, chief human resources officer, said, “We are hiring unprecedented number of freshers into the organisation. We will be on-boarding 6,000 freshers in Q2, highest Wipro has done and will roll out 30,000 offers later this year for freshers to join in FY23.”
According to Govil, the company has a huge pipeline building up to manage the people supply chain. “We will see attrition at the heightened level and lot of drop outs in the next quarter. But we are confident about managing the situation and this will not affect the revenue growth,” he added.