In Short:
Wipro, an Indian IT services firm, promoted 6 employees to senior vice president roles and 25 others to vice president roles as a strategy to reduce senior-level attrition. This promotion cycle is part of the company’s commitment to developing internal leaders. Despite promoting fewer senior employees this fiscal year, Wipro is focusing on hiring more specialized talent to meet future demands. CEO Thierry Delaporte is leading the firm’s efforts to navigate a decline in revenue.
Wipro Promotes Senior Employees in Leadership Roles
Indian IT services firm Wipro has recently promoted six employees to senior vice president roles and 25 others to vice president roles, according to internal memos seen by Reuters.
Promotions to Address Senior-Level Attrition
These promotions are viewed as a strategic move by industry experts to combat senior-level attrition within the company after witnessing several high-profile exits, including finance chief Jatin Dalal, Chief Growth Officer Stephanie Trautman, and Digital and Cloud head Barath Narayanan.
“Vertical movement as a means to retain talent and control attrition has worked well for most enterprises,” stated staffing firm Xpheno executive Sundar Eshwar, highlighting the recent trend in the sector.
Data from Xpheno shows that attrition across AVP, VP, and SVP roles in India’s IT and consulting companies decreased to 11% in fiscal 2024, down 4 percentage points from the previous fiscal year.
Wipro’s Confirmation and Response
Wipro confirmed the promotions on Friday, emphasizing that it aligns with their commitment to developing strong internal leaders.
However, the company promoted fewer senior employees in the current fiscal year, a move that analysts believe reflects its lackluster performance compared to previous cycles. CEO Thierry Delaporte leads Wipro, which might be the only one among India’s top four IT firms to experience a revenue decline by the end of the fiscal year.
Impact and Forecast by Analysts
In response to the shift in demand for specialized talent, analyst Ray Wang, principal analyst and founder of Constellation Research, suggests that the slower pace of promotions could allow Wipro to build capacity for future hires in 2024-2025.
Promoted Senior Executives
Among the employees promoted to SVP roles are Wipro’s Chief Delivery Officer Ajit Mahale, healthcare portfolio leader Anuj Kumar, Capco CFO Benjamin Simon, Canada country head Kim Watson, Europe cloud sales head Srinivasaa HG, and the head of its cloud arm’s strategy and execution arm Satish Y.
