Bangalore: India's third-largest IT services company Wipro is planning pay rise for the employees at its IT services division. Likely to be effective from October, the pay rise will be the second in this calendar year by the company, reports Bibhu Ranjan Mishra of Business Standards.
According to sources within the company, the company had already started appraisals to give the hike from October. Wipro uses to give gives salary hikes to its offshore employees in October and onsite employees in January.
Due to the slowdown, the company extended its annual compensation hike to February 2010 in 2009, and this year it's going ahead with its policy of giving wage hikes in October.
Wipro has reshuffled its grade structure by creating one more band in the "B" grade and about 20,000 people were taken in this new band, with promotions and salary raises effective from last month. Adding to it, the company also revised wage for its overseas employees in specific countries.
According to sources, Wipro's this year's hike is expected to be in double-digit.
Most of the Indian IT companies like Infosys, Wipro, TCS and HCL, saw a surge in their attrition rates during the last two quarters because of improved business environment. In order to contain this, the companies are moving to various initiatives like salary hikes.