Increments Of India Inc’s Are Growing Slow As 15% Growth Is Expected For Super-Specialized Profiles
The growth of salary for the professionals in India is going to range from a marginal positive to even negative. It could also be a stagnant one because of the dire consequences arising out of the COVID-19 situation. But there are going to be incremented for quite a few of the super-specialized profiles that can go well beyond 15% according to a report that came out on Tuesday.
According to reports from Salaries Prime Report 2020 and Team Lease Jobs there has been a severe impact on the employment landscape because of the Covid-19 pandemic. It has also disrupted the talent that has been rewarded by the India inc in the previous years.
According to reports, from various cities and sectors, super-specialized profiles are cherry-picked by employers as they are rewarded with more than 15 percent of their salary growth.
It is said, that In general, salaries grew between a minimum of 4.26 percent to a maximum of 11.22 percent across the cities and sectors.
According to Rituparna Chakraborty, who is the co-founder of Team Lease Services as well as the executive vice president, said that while the businesses are still going to stay conservative as far as salary increments are concerned, they have still not shied away from rewarding the various specialized skills. The pandemic has intensified the sheer importance of skilled profiles in the vast world of work.
It has further been added by Chakraborty that the testimony to this is that the companies are willing to offer a 15 percent increment to all the specialized roles. This is not happening only now, as most of the organizations are opting for a debt-free model that is asset-light there has been a trend of rewarding the talent particularly based on their skills and the outcome is going to stay for long.
According to reports from analysis, those profile which is going to get an increment in their salaries for this year are the Hadoop developer for the BFSI along with animators who are working in the educational services, and for the industrial manufacturing and allied, they are the collection officers, and for the Information and Technology and knowledge services, it is going to be the digital marketing heads.
She stated that outcomes will be driven if one’s armory is filled with skills. It could happen through up-skilling and re-skilling and that is the only way forward for talent so that they can stay in demand and command the compensation that is desired.
Furthermore, it has been stated in the report that work-from-home profiles are going to reap the benefit for the continuity of the business. The sectors that are included are Information and technology and knowledge services, e-commerce and tech-start-ups, financial service and insurance, and banking.
The jobs and Salaries Primer is a part of the annual report from Team Lease Services that analyses the trends of salary and hiring across industries. Salary pay-outs of more than 2,52,000 candidates across nine cities and 17 sectors.
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