Does more work and bigger responsibilities lead to better compensation and promotions?
Companies say it is a win-win for them too as they get to retain valuable talent, cultivate a more skilled workforce from within, and save time and money on external hiring.
This trend is evident across companies, shows the findings of two separate surveys by Deloitte India and Randstad India shared exclusively with ET. This is validated by chief executives at companies like Nobroker.com and Simplilearn.
Edtech platform, Simplilearn is identifying talent in-house who are going beyond their existing roles and taking up more job functions. “We are looking at rewarding them with salary hikes that can go as high as 30% to 35%,” said Krishna Kumar, CEO. “It makes sense to look for talent within the firm rather than outside,” he said.
It is a similar story at Nobroker.com, a proptech unicorn. “This is a peak season for us when a high number of renting/purchasing/house shifting takes place in the year. There are employees who are working extra and taking up more load…we will keep them in mind for higher pay hikes and even bonuses,” said Amit Agarwal, CEO.
Average increment in India expected to slip to 9% in 2024, says Deloitte survey
“More than half of the surveyed organisations have reported arresting key young talent attrition by up to 50% with such a programme,” said Neelesh Gupta, director, Deloitte India.
Fast-track career programmes have also helped companies drive employee engagement, create employer brand ambassadors, and
