Wipro on Monday said that it has recorded its lowest attrition rate in the past six quarters, backed by the restructuring of its people management processes and HR policies.
The IT major, which had been struggling to keep attrition under check throughout last financial year, witnessed a 4.7% drop during the September quarter. On a quarterly annualised basis, rates were down to 18.5% compared to 23.2% in the previous quarter and 23.5% in the year ago period. On a twelve month trailing basis, rates were down to 21.1%.
?We did our promotions and salary increments as it was planned effective June 1. We made it a more transparent and productive process. We are doing a lot of engagements in the senior and mid levels, and investing a lot of time with employees. A combination of all this helped us address attrition issues,? said Saurabh Govil, senior vice-president, (HR), Wipro Technologies.
Wipro, had been experiencing instability in the past few quarters due to its top management rejig. The company?s attrition levels rose to 23.2% during the first quarter ended June 30 compared to 20.9% in the preceding quarter. According to Govil, the company is now in a much more stable state. Executives today feel there is increased clarity and transparency in HR functioning, client engagement and accountability.
?Now people are all set and aligned with the new strategies that we have introduced. New sales incentives plan , new roles and objectives are all in place now. People have clear idea what they need to do moving forward,? he said.
The IT company expects the downward trend in attrition going forward. ?We have seen a significant drop in attrition level in Q2, and expect this to continue in Q3,? said Azim Premji, chairman, Wipro.