Corporate File

Office Buzz

| Updated on February 14, 2021

Awaiting: 6.4 % pay hike in 2021

Salaries in India are projected to rise by an average of 6.4 per cent in 2021 (translating to a median increase of 7 per cent), according to Willis Towers Watson’s latest Salary Budget Planning Survey report.

This is marginally higher than the average actual increase of 5.9 per cent in 2020. India also fares better than some of the other key markets in Asia Pacific. China is projected to give a pay hike of 6 per cent, the Philippines 5 per cent, Singapore 3.5 per cent and Hong Kong 3 per cent. Indonesia, like India, is projected at 6.5 per cent.

On an average, 20.6 per cent of the salary increase budget is being allocated to top performers, who represent 10.3 per cent of employees in India.

Wheels for workers

Tata Starbucks has started a special financing support initiative to help its employees purchase a two-wheeler vehicle for professional or personal use.

In a survey of Tata Starbucks partners (employees), the company found that reliable transportation was one of the top concerns. So, it decided to implement a plan in which people who opted for the programme would get a salary advance to cover the down payment for their chosen vehicle, as well as reduced rate loans and discounts on a range of models. For full-time partners with a tenure of more than two years, the company will also contribute towards vehicle down payments.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 14, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.