Compensation & Benefits: HR News, Trends & Workplace Insights

Latest Compensation & Benefits HR Trends, workforce insights, and expert analysis. Stay updated with the latest news on Compensation & Benefits.

Updated on: May 2024

Compensation

IndiGo rewards employees with a bonus equal to . months salary

May 3, 2024

Koo Halts Salary, Seeks Strategic Partners Amid Financial Woes

Koo, the indigenous microblogging platform, has disclosed its suspension of Aprils salary pay...

Compensation

Apr 26, 2024

Koo Halts Salary, Seeks Strategic Partners Amid Financial Woes

TCS requires office attendance for variable pay

According to the media reports, a global leader in IT services, consulting, and business solutions c...

Compensation

Apr 23, 2024

TCS requires office attendance for variable pay

Has TCS granted pay hikes based on office attendance?

Tata Consultancy Services TCS, a prominent IT services firm, has announced salary increments rangi...

Compensation

Apr 22, 2024

Has TCS granted pay hikes based on office attendance?

Compensation

TCS announces salary hike for top performers in double digits

An Indian multinational information technology services and consulting company, Tata Consultancy Services (TCS) announced annual increments in double-digit hikes for top performers starting from April 1. Milind Lakkad, Chief HR Officer, said: “We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double-digit hikes.” Salary hikes will […]

Apr 13, 2024

Survey & Report

Deloitte reports average CEO pay increase 40% to INR 13.8 crore

According to the Deloitte India Executive Performance and Rewards Survey 2024, average CEO compensation stands at INR 13.8 crore, up 40 percent compared with pre-COVID-19 levels. Every second CEO had a target compensation of more than INR 10 crore in 2024, compared with every third CEO in 2020. CEOs who were also promoters or members […]

Apr 8, 2024

Compensation

TCS plans 7-8% average salary increase for offsite staff

Tata Consultancy Services (TCS) is preparing to introduce salary increments for its workforce in the approaching fiscal period. In a move anticipated to uplift the spirits of employees, the company is gearing up to implement a salary hike effective April 1st. As the new financial year unfolds, this boost in remuneration promises to bring a […]

Mar 19, 2024

Compensation

FIITJEE withholds salaries, citing a need for increased productivity

FIITJEE, as per Money Control, has frozen employee salaries, citing the necessity for heightened productivity, reflecting issues within the coaching institute regarding financial management and workforce efficiency. The company operates over 100 study centres in the country and has a workforce of about 4,000 teaching and non-teaching employees. As per the report, Dinesh Kumar Goel, […]

Mar 13, 2024

Compensation

9.6% average salary hike for India Inc in 2024; attrition dropped

The EY report suggests that India Inc. is set for an average salary increase of 9.6% in 2024, similar to the actual increase in 2023. Abhishek Sen, Partner and Leader, Total Rewards, HR Technology and Learning, People Advisory Services, EY India said, “As we unveil our second edition of the ‘Future of Pay’ report, we provide industry stakeholders […]

Mar 7, 2024

Compensation

Wipro to offer employees 85% variable pay component

According to Financial Express report, a leading technology services and consulting company, Wipro plans to offer its employees an average 85% variable pay for the third quarter of the ongoing fiscal year. The company provided an average variable pay of 80% in the previous two quarters. The report also stated that Wipro’s recent email to employees […]

Mar 2, 2024

Compensation

Salary hike at manufacturing firms likely to be 10.1%

According to the Annual Salary Increase and Turnover Survey 2023-24 India by Aon plc, a prominent global professional services firm, salaries in India are projected to rise in 2024. The survey revealed that salaries in India are expected to increase by 9.5 percent in 2024, a slight drop compared to the actual increase of 9.7 […]

Feb 23, 2024

Compensation

Tips for Negotiating Your Salary at the Job Offer

Many individuals find themselves in a challenging position when it comes to salary negotiations. The fear of potentially jeopardizing a job offer or feeling uncomfortable discussing compensation can often lead to settling for less than what is actually deserved. However, with the right approach and preparation, you can effectively navigate this process and secure a […]

Feb 23, 2024

Compensation

Tech salaries are hit up to 40% as economic slowdown takes its toll

In the wake of an unprecedented economic slowdown, the technology industry is experiencing a significant blow to its once-flourishing job market. As companies struggle to adapt and survive in these challenging times, tech professionals are now facing substantial cuts to their salaries. The economic downturn on tech salaries, shedding light on the challenges faced by […]

Feb 19, 2024

Industry

Google offered 4x (300% hike) to retain the employees

According to BT report, American multinational technology company, Google recently offered 4x (300% hike) the salary to an employee who was considering a position at Perplexity AI. However the employee in question was not directly involved with Google’s AI division and instead worked on the search team. During an episode of The Big Technology Podcast, […]

Feb 19, 2024

Compensation

Sterlite Technologies (STL) announces salary cuts by 15 to 25%

As per multiple media reports, Sterlite Technologies Limited (STL), a prominent global provider of optical and digital solutions, has implemented salary reductions ranging from 15% to 25%. In light of the prevailing market conditions and to position the company for sustained success in the long term is reducing the salary for its employees. This decision […]

Feb 17, 2024

Compensation

Infosys continues to defer the roll-out hikes in January

The IT major, Infosys had earlier deferred the salary hikes of their employees and it was expected the company to roll out the salary hike in December. However, the recent report of TOI stated that some of the employees will receive their hikes in January as some of the business units are finalizing their budgets. On the […]

Dec 26, 2023