Bangalore, India - November 7, 2011:
Wipro today announced that it was the only Indian IT company ranked in the prestigious Aon Hewitt 'Top Companies for Leaders' global list. The 'Top Companies for Leaders' study is conducted by Aon Hewitt, a global human resource consulting firm, in partnership with The RBL Group, a strategic HR and leadership advisory firm, and FORTUNE magazine. This year's winners were selected and ranked by an expert panel of independent judges based on criteria including strength of leadership practices and culture, examples of leader development on a global scale, alignment of business and leadership strategy, business performance and company reputation.
At Wipro, leadership development training is not an event, but a process of a continuous cycle of learning, measuring and participating. To foster this process, Wipro has created a leadership philosophy designed along the lifecycle pattern of leadership development. Every year, all leaders above the middle management grade go through a 360-degree feedback. The process is designed to help leaders take a measure of their leadership qualities, appreciate constructive feedback and act on them to grow.
Ajay Soni, Asia Pacific Head for Leadership Consulting, Aon Hewitt said, "Aon Hewitt congratulates Wipro Technologies on being recognised as a Global Top Company for Leaders. We observed Wipro to be exceptional on three accounts. One, exposure and challenge key to development of talent at Wipro (the organization has an articulated strategy of taking risk with top talent for key and critical positions). Two, formal and informal mentoring plays a big role in development of people, especially as they take new and challenging roles in the organization, and three, Wipro has a very good process of Top Leadership and Board involvement in developing the leadership pipeline. It is not surprising then, that Wipro has built global leaders not only for its own organisation, but for the IT industry as well."
Commenting on this award, Mr. Pratik Kumar, Executive Vice President - Human Resources, Wipro said "People leadership is pivotal to business leadership. At Wipro, we have had a rich heritage of business leadership practices, with equal focus on leadership in society and community initiatives. Leadership development is an outcome of the philosophy of taking bets on our people, and investing in their success. The large canvas of the business gives people the opportunity to grow in their career by experimenting continuously."
At Wipro, leaders learn how to deal with a rapidly changing world and how to succeed in situations where they may not have all the data and answers that can help them take the right decisions. If they keep waiting for a state of equilibrium to happen, they will be paralyzed by indecision. Dealing with ambiguity is a thin line, they need to tread between being brash and being indecisive. The methodology goes beyond classroom sessions to using theater, film making and other forms of experiential learning, to help the leaders go beyond their comfort zones. Through membership of a global consortium, Wipro leaders get insights about their world, from what companies in other sectors and business have done to deal with similar situations. Leveraging the principles of social learning, the leaders learn not just from the experts, but from their peers in other organizations.
About Wipro Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has 120,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
About the Global Top Companies for Leaders Study
With more than 1,200 data points and 900 executive interviews, the Aon Hewitt 2011 Global Top Companies for Leaders Study is the most comprehensive, global research on leadership in the market, examining the link between leadership practices and financial results. This study explores how organizations assess, select, develop, and reward leaders, and examines the execution of leadership practices, as well as the strategy that guides it. To learn more or to download a copy of this study, please visit www.aon.com/topcompanies.
Aon Hewitt, The RBL Group and FORTUNE utilized a three-step screening process to identify the finalist companies. This included assessing survey responses, conducting in-depth interviews and analyzing financial performance in relation to industry. Aon Hewitt provided this information to a panel of independent judges in each region to select and rank a 2011 Top Companies for Leaders list in Asia-Pacific, Europe, Latin America and North America. A separate independent judging panel, composed of one representative from each regional panel, considered all regional Top Companies to select and rank a Global Top Companies for Leaders list.
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Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.