Wipro To Implement Compulsory Hybrid Work Policy, Asks Employees To Work 3 Days Each Week

Azim Premji-backed Wipro has joined the bandwagon of compulsory hybrid work policy. The country's fourth largest tech firm has reportedly sent out an email to its employees, conveying its plan to put in place a mandatory hybrid work policy with effect from November 15, 2023.

Wipro's hybrid policy will require employees to attend office premises three days each week. Through this move, Wipro plans to enhance teamwork and make it easier for face-to-face interactions. Also, the move is expected to strengthen the company's work culture.

Moneycontrol has a copy of the email and has confirmed that it was sent on November 6 by a senior Wipro executive.

However, the hybrid policy will depend upon the location, agreements and country-wise.

Nevertheless, Wipro also warned its employees if failure to follow the hybrid policy, then they will face consequences effective from January 7, 2024. The mail said that Wipro believes that accountability is essential for success and growth.

Wipro's move comes after India's largest tech firm Tata Consultancy Services (TCS) reportedly declared five days a five-day-a-week hybrid policy. Another rival Infosys has also reportedly declared its own compulsory hybrid policy where employees will be required to attend office locations for at least 10 days each month.

On Tuesday, Wipro's share price closed at Rs 383.10 apiece, down by 0.43% on BSE with a market cap of over Rs 2 lakh crore.

As per the financial results, Wipro's total headcount stood at 244,707 employees, which is a net reduction of 5,051 people from the headcount of 2,49,758 employees as of the June 2023 quarter. At the same time, the tech player's attrition rate declined steeply to 15.5% by the end of Q2FY24, compared to 17.3% in Q1FY24. That being said, Wipro's voluntary attrition rate is at a 9-quarter low. The attrition rate was at a high of 22.9% in Q2FY23.

Currently, IT companies are struggling with tepid growth due to challenging macro conditions, which has weakened IT spending from clients. Wipro's peers TCS, HCL Tech, and Infosys have recorded a significant reduction in headcount during the September 2023 quarter.