The rapid expansion of well-funded global capability centres (GCCs) has been a primary factor driving attrition in the information technology sector, a senior Wipro executive said.
In fact, Wipro is the first IT company to acknowledge how GCCs are luring skilled employees with 4-10 years of experience, offering compensation levels that IT companies cannot match.
“Captives in India are coming up in big numbers, which is also drawing a lot of talent from the (IT) services companies. That is pushing up our compensation because these companies are doing more offshore in-sourcing and can afford to give higher raise to employees," Saurabh Govil, chief human resources officer Wipro, told Mint.
GCCs are primarily tapping into people with 4-10 years of work experience taking in ready-made talent, he said. “The capacity for GCCs to pay is higher."
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