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| Lukewarm response to Posco compensation |
| BS Reporter / Bhubaneswar Feb 13, 2010, 00:11 IST |
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India’s third largest information technology (IT) services provider Wipro Technologies believes growth in the next decade will be more turbulent than the last. To tackle the storm, it is gearing up to focus on non-linear (beyond adding employees or focusing on headcount) initiatives, which, it hopes, will double revenue in two-three years.
“Our non-linear initiative contributes 8 per cent to our revenues. We want to double this in the next two-three years. To achieve this target, we are investing close to 2 per cent of our revenues in initiatives which will surround solutions that gear up non-linear business,” Girish Paranjape, joint CEO of Wipro, told Business Standard.
When asked why he thinks the future will be turbulent, Paranjape said: “Lots of things have happened in this last one year. Money supply is more constrained, unemployment is an issue, and consumer spending is still low. There are concerns over the commodity segment. The next decade, therefore, will be more volatile than the last. Moreover, there is enough technology disruptions happening.”
Having said that, he also believes Wipro’s diversification is its derisking model. “We are not overdependent on a single market or client. Besides, we are adding new solutions delivery model. For instance, we have been in the Indian market for some time now. We know how to engage with clients here. Rather, this association is making us take solutions to other emerging markets like South Africa, APAC, etc,” he said.
The company will add over 7,500 freshers in the next two quarters. “These additions contradict what I said on non-linear approach. In the short term, there will be headcount growth. But in the long run, our goal is to detach headcount growth from revenue. That will take some time,” he added.
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