Indian IT Company Wipro is planning in a new way to retain the best talent in the company. The company is planning to offer quarterly promotions and reward the top performers in the company who are in mid management level and not in the leadership team so that it will strengthen the work force across multiple teams
 |
| Rewards Strategy- IT Companies |
Wipro company is expected to provide hikes for employees in September and large scale rewards and promotions on July. IT companies now a days are seeing high attrition rates. There is a huge vacuum between demand for technology and supply with the increase in labor costs.Companies are empowering employees for continuous momentum and diverse work force with performance driven work culture and rewards that helps to attract the best local talent for their needs.
In IT Companies with rising demand, Talent acquisition, Training and retention has gained more importance.The Annual attrition is slowly declining and this trend need to be watched keenly. Indian IT Companies are investing high talent retention costs like retention bonus,Salary hikes, Pay-scale revisions , Out-of-cycle wage revision and others to hold the best talent with them. This phenomenon has large impact on their margins. The elevated cost of managing and holding the top talent churn has gradually increase the expenses of the company
0 Komentar untuk "IT Companies are offering best rewards to retain the best talent in the Industry."