Significantly, this drive by the country's third-largest software exporter is the latest attempt to retain employees with over five years experience as attrition level for this group is higher than Wipro's attrition rate of 17%, according to a senior executive. "How do we retain this group with (over) 5-6 years experience... If we are able to provide them masters in IT or MBA, it serves them and it helps us too," said Saurabh Govil, head (HR) at Wipro.
Under the "Notch Up" programme, launched during the second quarter, Wipro offers employees who have put in over two years at the company a chance to study Masters degree at one of the three institutes — Symbiosis in Pune, BITS in Pilani or Vellore Institute of Technology. The company has also partnered with ICFA to offer a two-year regular programme in professional accounting.
Wipro claims that over 500 employees have already enrolled even as the company aims to grow this number ten-fold to 5,000 in three years.
"We have worked out a fee for them. How you score, we will reimburse the fees accordingly .Eventually , the aim is to train (over) 5,000 in three years. Hope this will help us in retaining talent that we so want," Govil told ET in an interview. To be sure, the Notch Up programme is another initiative launched by Wipro after, earlier this year, it started a Distinguished Member of Technical Staff programme in which the company offers engineers an equal opportunity with the business graduates to climb up the ranks.Homegrown IT companies generally see an uptick in attrition levels during the first quarter of every fiscal year as most employees either leave their jobs in search of better opportunities or switch to pursue higher education, forcing the companies to report higher attrition rates.
Wipro's rival, Infosys, reported an attrition rate of 19.5% in the first quarter ending June. For this reason, most companies have taken steps to quell this exodus of employees — from Wipro rewarding its top 20% of its workforce with double salary hikes to Infosys okaying promotions to over 19,000 staff in first two quarters of this fiscal year.
Some experts, however, doubt if measures like these will truly help IT firms fight-off higher employee exits as they believe stubbornly high-attrition rates are symptomatic of shortage of technically skilled engineers in the services industry and lack of challenging opportunities for growth in technical competence. "Offering to refund tuition fees for MTech programmes at BITS-VIT Symbiosis is not going to solve the attrition problem," said Swami Manohar, former professor at Indian Institute of Science, and currently pursuing the Jed-i (Joy of Engineering, Design, and Innovation) mission.
"The employees who leave for higher studies abroad do so because they realise that they are not growing in technical competence working for services companies. Staff who opt for this do so to pad their resume with a Masters degree so that they can negotiate for higher salaries next time they move. And if it is going to be subsidised by their employer, even better!"
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