Salary Increments Scenario Is Grim In India: TeamLease Report

NEW DELHI: Salary growth for Indian professionals could vary from a slightly optimistic to stagnant and even destructive, given the dire scenario created by Covid-19, however increment for among the “super-specialized” profiles can transcend 15 per cent, a report stated.

According to TeamLease Jobs & Salaries Primer Report 2020, the Covid-19 pandemic has not solely impacted the employment panorama, it has disrupted the way in which India Inc rewards its expertise.As per the report, throughout sectors and cities, employers are cherry choosing super-specialized profiles, and are rewarding them with higher than 15 per cent salary growth.

Salaries, usually, grew between 4.26 per cent (minimal) and 11.22 per cent (most) throughout sectors and cities, it stated.

“While businesses will stay conservative with salary increments, they have not shied away from rewarding specialized skills. In fact, the pandemic has amplified the importance of skilled profiles in the world of work. It has brought to forefront the trinity between skills, performance and rewards,” stated Rituparna Chakraborty, co-founder & government vp, TeamLease Services.

Chakraborty additional stated that “the 15 per cent increment that companies are willing to offer to specialized profiles is a testimony of this. Not only now, as more and more organizations are opting for an asset light, debt-free model, the trend of rewarding talent based on their skill and outcome is here to stay”.As per the evaluation, the profiles that can see an increment of their salaries this 12 months are Hadoop developer in BFSI, animators working in academic companies, assortment officer in industrial manufacturing and allied and digital advertising head in Information Technology and data companies.

“Filling ones armoury with skills that will help in driving outcomes either through up-skilling or re-skilling is the way forward for talent to stay in demand and to command the desired compensation,” she stated.

The report additional stated sectors with important work-from-home (WFH) profiles are anticipated to profit on account of enterprise continuity. These embrace banking, monetary companies and insurance coverage, e-commerce & tech startups, info Technology and data companies.

The Jobs and Salaries Primer is an annual report from TeamLease Services that analyses the hiring and salary traits throughout industries. The newest version has considered the salary payouts of greater than 2,52,000 candidates throughout 17 sectors and 9 cities.

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