Wipro to remove employment bond for freshers
Bangalore: Here is a good news for freshers searching for jobs.Wipro Technologies is preparing for the talent war this year. Wipro used to ask to make a payment of 75,000 while signing the employment contract but now they have removed the policy.With this,the company plans to offer double digit wage hikes this April. But, Wipro will still have a service level agreement for a period of 15 months for the employees.The company feels that it will improve the quality of hires and at the same time they will not lose employees after the significant effort in training period. Priti Rajora, Global Head-Talent Acquisition, Wipro Technologies said. "The training and development program entails a considerable investment in terms of manpower, training hours, infrastructure and technological knowhow. This investment makes it necessary for us to expect the fresher to stay with us for a period so as to obviate an adverse impact on ongoing projects." IT firms like TCS and Infosys ask freshers to sign employment bond.TCS sign a two year service agreement, and Infosys has one year agreement which starts from the date of completing the training programme. According to them these bonds will restrict job hopping for the employees as well as through this bond they ensure that employees stay with the company for a while. However Cognizant have never had a practice of making employees sign bonds. According to them this process work well for them as they would have employees who wants to stay than who stays forcefully. Indian IT Companies have the practice of signs bonds.But In the UK and U.S there is no such policies. Now with the new policy of Wipro, we can hope that the other IT companies will also ape with Wipro.