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Companies To Go Slow On Increments, Salary Hikes To Be Limited In Selected Profiles, Says Survey

Companies To Go Slow On Increments, Salary Hikes To Be Limited In Selected Profiles: Report

The report says some job profiles may even see negative growth in salaries

Disruption caused by the COVID-19 pandemic has impacted the way corporate India looks to reward its employees, ‘TeamLease Jobs & Salaries Primer Report 2020’, released on Tuesday suggested. According to the report, while salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the “super-specialised” profiles can go beyond 15 per cent. Some of the profiles which the report expects to receive a growth in salaries are ‘product expert’ in e-commerce and tech start-up sector, ‘Animator’ in educational services sector and ‘digital marketing head’ in IT and knowledge services sector.

On the other hand, the report predicts a salary de-growth for profiles like ‘customer care executive’ in BPO sector and ‘tour operator’ in hospitality sector.

Elaborating on the report, Rituparna Chakraborty, co-founder & executive vice president at TeamLease Services said, “While businesses will stay conservative with salary increments, they have not shied away from rewarding specialised skills. In fact, the pandemic has amplified the importance of skilled profiles in the world of work. It has bought to forefront the trinity between skills, performance and rewards.

As far as new hiring is concerned, the report said that 6 out of the 17 sectors it surveyed offered more than 10 per cent salary growth. These sectors include agriculture and agrochemicals, BPO and IT enabled services, e-commerce, educational services, healthcare, IT and knowledge Services.

However, many major sectors like banking, FMCG, hospitality and media & entertainment offered less than 10 per cent salary growth for fresh hiring, the report said.

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