Heena Sharma Blog

Indiabulls Group has asked over 2,000, of its total of 26,000 employees, to leave as an outcome of performance review at the end of financial year 2019-20. Though the company said the attrition was in line with the process it follows every year (of 10-15 per cent attrition after performance reviews), its employees have a different story to tell. Scores of employees took to social media to express disappointment and said they were asked to resign over WhatsApp calls. On Twitter, some said they had been asked to resign by May 31 and that there was no severance package and salary would be paid only for May. Read More

The economic slowdown is beginning to reflect in the salary hikes of India Inc. The average salary increase in 2020 is projected to be 9.1 per cent, the lowest in a decade, according to the 24th edition of Aon Plc’s annual salary increase survey. In 2018 and 2019, companies increased average salary by 9.5 per cent and 9.3 per cent, respectively. After the financial crisis of 2008, the average hike had slumped to 6.6 per cent. The projected increase for 2020 is lower than the average salary hike that graduates of top Business schools have managed at around 12 per cent. The good news, however, is that despite gross domestic product (GDP) growth estimates getting revised downward, the average salary increase for 2020 will be only 20 basis points lower than that of the previous year. Moreover, double-digit salary increments have not vanished entirely. While the average for the country has come down, 39 per cent of the companies are still willing to give double-digit salary incr