COMPANY NAME : WIPRO
Wipro (an acronym of "Western India Palm Refined Oils") started as a vegetable oil trading company in 1947 from an old mill at Amalner, Maharashtra. It was founded by Azim Premji's father. He repositioned it and transformed Wipro (Western India Palm Refined Oil Ltd) into a consumer goods company that produced hydrogenated cooking oils/fat company, laundry soap, wax and tin containers and later set up Wipro Fluid Power to manufacture hydraulic and pneumatic cylinders in 1975. In 1977, Wipro entered the information technology sector. Wipro Technologies Limited is a giant information technology company, which has it’s headquarter in Bangalore, India. It is a global service provider delivering technology-driven business solutions that meet the strategic objectives of their clients. Wipro has delivers unmatched business value to customers through a combination of process excellence, quality frameworks and service delivery innovation. It is the World’s first CMMi Level 5 certified software services company and the first outside USA to receive the IEEE Software Process Award. According to the 2008–09 revenue, Wipro employs more than 98,391 people worldwide as of 2009. Major Categories in which Wipro deals:
• IT Services: Wipro provides complete range of IT Services to the organization. The range of services extends from Enterprise Application Services (CRM, ERP, e-Procurement and SCM) to e-Business solutions. Wipro's enterprise solutions serve a host of industries such as Energy and Utilities, Finance, Telecom, and Media and Entertainment. • Product Engineering Solutions: Wipro is the largest independent provider of R&D services in the world. Using "Extended Engineering" model for leveraging R&D investment and accessing new knowledge and experience across the globe, people and technical infrastructure, Wipro enables firms to introduce new products rapidly. • Technology Infrastructure Service: Wipro's Technology Infrastructure Services (TIS) is the largest Indian IT infrastructure service provider in terms of revenue, people and customers with more than 200 customers in US, Europe, Japan and over 650 customers in India. • Business Process Outsourcing: Wipro provides business process outsourcing services in areas Finance & Accounting, Procurement, HR Services, Loyalty Services and Knowledge Services. In 2002, Wipro acquiring Spectra mind and became one of the largest BPO service players.
TALENT MANAGEMENT PRACTICES AT WIPRO
Wipro's talent management and engagement has a two fold approach. It contains the challenges by following best practices in two areas: 1) Compensation
Challenges arising due to compensation reasons are contained at Wipro by continuously benchmarking employee’s salaries with their competitors and providing merit-based salary increase. In addition, for middle and senior management they have equity-based compensation through Restricted Stock Units (RSUs). They also have various employee benefits programmes.
Wipro typically offers flexible Employee Performance Management (EPM) solutions delivered in either a Business Process Outsourcing (BPO) or Software as Service (SaaS) model that makes assessment and development easy, more accurate. EPM process includes goal management, performance appraisals, multi-rater/360 feedback, workforce & succession planning, development planning and training, etc. The “Training & Learning” arm of Wipro Technologies caters to learning needs of over 63,000 employees. It had been a winner of American Society for Training and Development BEST award for four consecutive years – 2004, 2005, 2006 and 2007. Attrition rate as of 2008 at Wipro is 17%.
a) Talent engagement and development (TED) reviews
Wipro has quarterly talent engagement and development (TED) reviews, and action points of each SBU and...