HYDERABAD: Wisdomjobs.com, a city-based online recruitment portal, released the outcome of its survey on the Employee Satisfaction on their Salary Structure.
The survey was conducted across Hyderabad, Mumbai, Delhi, Chennai, Bengaluru and Pune; and covered 10 sectors; IT, telecom, ITES, retail, education, media & entertainment, infrastructure, BFSI, healthcare and logistics.
Sector-wise salary structure satisfaction percentage:
Across all sectors, only 55% of respondents were satisfied with their current salary structure.
Though the ITES sector has been one of the most booming sectors, providing Transport and other additional benefits; it has the second-lowest level of satisfaction at 43%.
The IT sector shows that 35% of the respondents are reasonably dissatisfied with their salary structures.
Education sector which creates the base of the country’s development has the most dissatisfied employees, at 60%
The Media and Entertainment sector showed a satisfaction level of just 58%, the second-highest satisfied among all the sectors surveyed.
The Healthcare sector shows a 50-50 satisfaction-dissatisfaction level.
Findings of the survey
53% of those surveyed felt that the fixed or base component of their salary is the most important factor while around 42% said that variable or differential pay was important to them.
Salary structure continues to be seen as the defining factor when it comes to a professional taking up a new job or deciding to stay with an employer, with nearly 80% of the respondents giving it a high weightage.
Nearly 70% of those dissatisfied with their salaries felt that it was not in line with market standards while 30% felt that it was not commensurate with the responsibilities being handled by them.
45% said that they were getting paid lesser than their peers who started
working at the same time as they did.
Among non-monetary components of their salary structures, those surveyed were most dissatisfied with child-related and retirement benefits.