NEW DELHI: Nearly 93 per cent of all respondents in a survey conducted by online job site indeed plan to ask for a pay hike this appraisal cycle.
A gender-wise break-up shows that 67 per cent of all women respondents and 64 per cent of men plan to approach employers for a pay rise.
However, more than half the respondents state that similar efforts made by them last year was refused. According to the report, the primary reason given for the refusals was a small budgets, while close to a third of respondents were also told that their quality of work was not up to the mark.
Also, over 64 per cent of respondents believe that Indian salaries are generally lower than the average.
When it comes to changing jobs for a hike, over 80 per cent of respondents agreed they would consider doing so, with a majority of them being in the 25-34 age group.
Sashi Kumar, MD of Indeed India said, that wage growth continues to be the leading priorities for employees and it is imperative on part of organizations to ensure that employee expectations are met. “In today’s era of transparency and peer consultation, employees are far more informed about industry standards and company cultures,” he pointed out.
A significant portion of respondents also stated that the rising cost of living, the extra responsibilities and extra hours of work put in by them should be compensated.
If a hike is not possible, over 50 per cent of employees are willing to accept alternative benefits such as flexible work hours, parental leave etc., as per the survey. When it comes to the gender pay gap, 20 per cent of women respondents believe that their male counterparts are being paid more than them. As per a different study conducted by global consultancy firm Korn Ferry, women in India make on-average 16.1 per cent less than men, similar to global level but higher than China which stood at 12.1 per cent.