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Wipro likely to skip pay hikes for top performers in key business line

Economic TimesEconomic Times ยท 1y ago
Wipro likely to skip pay hikes for top performers in key business line
Medial

Wipro, India's fourth-largest IT services provider, is considering skipping salary hikes for "top performers with higher compensation" in its largest business line. The decision is part of the company's efforts to address pay disparities and prioritize employees with lower compensation. The move comes as Wipro faces various challenges, including weak client spending and stiff competition from larger rivals. The decision could impact employee morale and lead to increased attrition, as salary bills are a significant portion of IT companies' expenses. Wipro had already delayed its salary hike cycle, and peers like Infosys and HCL have also taken measures to control payroll costs.

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Funding winter or not, startups loosen purse strings to reward top talent

Economic TimesEconomic Times ยท 1y ago
Funding winter or not, startups loosen purse strings to reward top talent
Medial

Indian startups are increasingly rewarding and retaining key talent with high increments, stock options, performance-related bonuses, non-monetary incentives, and accelerated promotion tracks. Companies such as UpGrad, Plum, Simplilearn, Eruditus, Shiprocket, Urban Company, CashKaro, and Simpl are focusing on rewarding top performers amidst a shift towards profitability in the wake of funding challenges. Startups are implementing a differentiated approach to appraisals, disproportionately rewarding high performers and retaining top talent through long-term incentives and career development opportunities. While overall sector hikes may be lower, top performers can expect significant rewards.

With Delaporte gone, can legacy hand Srinivas Pallia steer Wipro through AI age?

LivemintLivemint ยท 1y ago
With Delaporte gone, can legacy hand Srinivas Pallia steer Wipro through AI age?
Medial

Wipro, one of India's top three IT services companies, is facing significant challenges as it strives to regain its position in the industry. The company has underperformed in recent years, losing ground to competitors and experiencing an exodus of top talent. Srinivas Pallia, a Wipro veteran, has taken on the role of CEO and faces the daunting task of turning the company around. While Pallia's extensive knowledge of Wipro and its clients could work in his favor, he will need to address issues such as leadership continuity, margin contraction, and the need to establish Wipro as a leader in key business verticals. The success of Wipro's recent acquisitions, such as consulting firm Capco, will also play a crucial role in its future performance.

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