Technology changes drastically every year and the value of technology service companies only increases, said Mr. Rishad Premji, Executive Chairman of Wipro Limited in a fireside chat with Mr. Sunil Kant Munjal, Chairman of Hero Enterprise at the 49th National Management Convention this morning.
Mr. Premji said he was optimistic about the technology services industry because customers have legacy and new systems and they care a lot about the benefits they get from them. “The biggest concern is talent,” he said. Retaining and honing tech talent is a challenge due to the disconnect caused by covid, he said. He pointed out that only about 10% of Wipro’s workforce now works from the office and the majority of employees have little emotional connection to the organization. He said he’s spent hundreds of hours on a hundred employee meetings over the past few months to engage employees globally.
The talent ladder with India’s technology services companies is key, Mr Premji said, pointing out that today the industry employs 5 million people compared to 2.5 million two years ago and that the next year, the number of labor would rise to 6 million. “We have to continually evolve to maintain the edge,” he said.
Mr. Premji also expressed great optimism about the prospects for Wipro and the technology industry over the next 5-10 years. India is becoming a digital economy and with the growth of entrepreneurship and the rapid growth of the consumer economy, tech companies like Wipro will be part of India’s economic transformation, he said. he declares.
Commenting on Wipro’s growing M&A activity, Mr. Premji said he sees M&A as an accelerator of change and a visible communication that the business is changing. “It’s not about buying growth, it’s about buying capacity and market access,” he said. He said if 6 out of 10 acquisitions turn out good, that would be a good success rate, and he doesn’t want to rush the integration of acquired companies if it destroys their unique attributes.
Commenting on Wipro’s philanthropy, Mr Premji said the logic was that if you have that kind of fortune and luck, you have to give back. “Organizations are living beings and they have a deep responsibility to the communities in which they live,” he said. He clarified that 66% of Wipro owned by a foundation is a big draw for investors, customers and talent around the world. “Employees become activists and they want to work for companies that care about the environment, society and governance. In fact, all stakeholders in the value chain are asking for it,” he explained.
Mr. Premji said that although Wipro has a long history in sustainability, over the past two years he has formalized his efforts and communication and he has promised to decarbonize Wipro by 90% by 2030 and not simply do carbon offsetting. He said all office vehicles at Wipro will be electric by 2030, air travel will be reduced, employees will carpool, and the company will notice how suppliers present themselves. On diversity, he said Wipro’s goal is to have 20% female leaders within two years from 2% two years earlier.
On the issue of moonlighting by tech workers, Mr Premji said that although he has received a huge amount of hate mail since he called it cheating, he is sticking to it. who said that. “Employees can have a transparent dialogue with the organization about their second job or their weekend, but we discovered 300 employees who worked for direct competitors. There is no place for them,” he said.
The session was attended by over 500 delegates and was streamed live on AIMA’s social media.