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Growth in executive compensation at India’s leading listed companies decelerated in 2023-24 after two years of strong gains. The cumulative remuneration for key managerial personnel (KMP) or top management of BSE 200 companies rose by 3.9 per cent year-on-year (Y-o-Y) to Rs 8,304 crore in FY24, compared with Rs 7,990 crore a year earlier — marking the smallest uptick in the past four years. This contrasts sharply with the 27.1 per cent growth in FY23 and the 38.8 per cent surge in FY22, according to data compiled by Business Standard Research Bureau.
Firms prefer picking up employees internally to save costs, clients are renegotiating service fees and increasing hiring closure timelines.
As India’s festival season nears, salary advance startups like Refyne and KarmaLife brace for a surge in demand from their clients’ employees, particularly gig workers. These fintech startups offer quick, accessible credit solutions, addressing challenges in traditional lending.
BENGALURU: In recent years, some mid-sized IT companies have outperformed their larger counterparts in terms of employee compensation, offering more substantial salary increases. Companies such as Birlasoft, KPIT, Happiest Minds, and Cyient have consistently provided double-dig it average salary hikes over the past three financial years.
These companies are likely to hire up 20% more this festive season (August-December) than they did last year, as online purchases gain in popularity on account of convenience it affords consumers, staffing firms said.
Technology is revolutionising India's logistics sector, demanding a skilled workforce capable of navigating new-age innovations and driving growth across industries.
Bengaluru: The pandemic and the changing expectations of the Generation Z workforce are prompting companies to reassess their approach to employee rewards and recognition. Businesses are shifting away from the conventional practice of presenting certificates to employees once or twice annually. Instead, they are embracing more intangible, and decentralising the distribution of rewards.
IN UNION BUDGET 2024-25, finance minister Nirmala Sitharaman announced a ₹3 lakh crore outlay for empowering women.
Experts disscussed the importance of embracing new technologies, fostering a supportive work culture, and empowering employees to drive organisational success
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