Employees across sectors will have to face a negligible rise in salaries during the current increment cycle. In some cases, degrowth is expected. Profiles including customer care executives, tour operators, among several others are staring at a de-growth in salaries, while for research managers, customer support associates, project managers, etc there will be no growth or stagnation, according to TeamLease Jobs and Salaries Primer Report 2020.
Among job profiles that are likely to see an increment include Hadoop developer in BFSI, animators working in the educational services, collection officer in industrial manufacturing, and digital marketing head in IT, and knowledge services. Further, some of the “super-specialised” profiles can go beyond 15 per cent, according to the report.
This has given further rise to the need for skilled individuals. Rituparna Chakraborty, co-founder, and executive Vice-President, 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 the forefront the trinity between skills, performance, and rewards. The 15 per cent increment that companies are willing to offer to specialised profiles is a testimony of this. Not only now, as more and more organisations are opting for an asset-light, but the debt-free model, the trend of rewarding talents based on their skill and outcome is also here to stay.”
Automobile, banking, financial services, real estate, FMCG, hospitality, media and entertainment is likely to see less than 10 per cent growth while healthcare, IT, knowledge services, BPO, tech startups, e-commerce remain among top paymasters, reveals the survey. The gap between temporary and permanent profiles is diminishing in most cases as there would an increased pay parity, as per the report.
Top cities for increment, as per the report, are Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Kolkata, said report.
Earlier, a KPMG report had revealed that as many as 50 per cent of the companies have deferred or suspended their promotion schedule. The report reveals the middle and senior managers are most-affected with half of the organisations deferring or suspending promotions for these levels.
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