The survey talks about a drop in salary hikes. What is your experience about the %age hikes is your organization being offered to the newly joining employees? Which sectors and departments are getting better hikes and to what extent?
Hikes are a big NO this year, honestly businesses are struggling to survive and get enough work for the existing employees, we should all understand the fact that companies spend a lot of time and money to acquire resources and letting them go is a very hard decision for them as well. And every company had lost clients and in turn revenue, so hard times force hard measures. Given the current scenario we should also let companies revive and get more clients for the businesses to run as usual and get back on track. This is just my view.
Yes Divya, I am in total agreement with you. We definitely need to give time to companies to revive, as most businesses have been hit badly. The worst hit, as far as I am aware, are the recruitment firms, manufacturing factories, travel industry. Some IT MNCs offered hikes, even during the pandemic or immediately after.
I also read about major companies taking their 100% staff to work-from-home that will hopefully give them the bandwidth to offer good hikes. However, for now, as you also mentioned, the situation is tough.