Wipro Ltd., a leading Indian IT services company, has implemented a significant round of promotions within its senior management in a bid to bolster its leadership structure and address attrition concerns. This strategic move has resulted in the elevation of 12 top executives to Senior Vice President (SVP) roles and 61 executives to Vice President (VP) positions. Following these promotions, Wipro’s leadership now includes around 200 VPs and 32 SVPs, underlining the company’s commitment to strengthening its executive team and retaining top talent.
The record number of promotions comes at a crucial time for Wipro, following a series of high-profile departures from the firm. Notably, the company experienced the exit of five significant figures over a two-month period last year, including key leaders responsible for operations in Brazil, Japan, Australia and New Zealand, and the Middle East.
This initiative is part of Wipro’s broader retention strategy, aimed at mitigating the impact of an attrition rate that stood at 23.3% in the July-September quarter. By offering quarterly promotions to its top performers and implementing salary hikes, Wipro seeks to maintain a competitive and supportive environment for its employees. These efforts are also complemented by the company’s focus on leadership development, with promotions serving as a key mechanism for recognizing and rewarding contributions across the organization.
Wipro’s proactive approach to leadership reinforcement and talent retention underscores the dynamic challenges faced by major IT services companies in retaining skilled professionals. By prioritizing the development and recognition of its senior executives, Wipro aims to not only address immediate retention needs but also to lay the groundwork for sustained growth and innovation.
