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MUMBAI: Despite all the talk about pay-for-performance, India Inc. is being blamed for playing favorites when it comes to pay parity at the same level. A survey by JobBuzz.in, the employer rating platform from TimesJobs.com has revealed that a majority of employees
believe their companies pay external hires and favorites more - 90 per cent feel there is no pay parity in their organisations for the same role and level.
The pan-India JobBuzz.in survey received 975 valid responses from working professionals across experience levels. When asked if employees working at the same level in their own company had different pay packages, 90 per cent said yes. Nearly 40 per cent of the professionals feel this salary disparity is due to external hires being paid more while 35 per cent say it is due to favoritism by managers. Only 5 per cent reason the disparity is the result of better individual performance.
"Salary disparity is a highly sensitive subject across all experience levels. Employers need to address aberrations and correct misperceptions tactfully as these directly impact employee motivation, performance, productivity and loyalty. It is essential for companies to conduct salary-benchmarking surveys and correct actual and perceived inequalities in compensation among their workforce. This will help them meet employee expectations and significantly improve performance and motivation levels." says Vivek Madhukar, COO, TimesJobs.com in a release.
All respondents report differences in their salaries, compared to colleagues at the same level in their own organisations. According to the JobBuzz.in survey, 21 per cent employees
feel that there that is more than a 30 per cent difference in salaries among people working at their level while 27 per cent feel that there is a 20-30 per cent salary disparity in their own companies.
Most employees (34 per cent) report a 10-20 per cent difference in salaries of others with the same rank as them. Only 18 per cent respondents say that the disparity in their company's compensation packages for the same level is below 10 per cent reports JobBuzz.in.
This JobBuzz.in survey covered 429 women and 546 men. On the gender front, many employees feel there is still a significant salary disparity between the genders for the same profile. Nearly 43 per cent employees say there is a considerable difference in the salaries paid to male and female employees for the same role and level in their organisations.
Nearly 25 per cent respondents held that the level of salary disparity between male and female employees ranges between 10 and 20 per cent. And 21 per cent employees feel there is 20-30 per cent disparity between male and female employees. Another 7 per cent employees say the disparity is higher than 30 per cent in their own companies.
believe their companies pay external hires and favorites more - 90 per cent feel there is no pay parity in their organisations for the same role and level.
The pan-India JobBuzz.in survey received 975 valid responses from working professionals across experience levels. When asked if employees working at the same level in their own company had different pay packages, 90 per cent said yes. Nearly 40 per cent of the professionals feel this salary disparity is due to external hires being paid more while 35 per cent say it is due to favoritism by managers. Only 5 per cent reason the disparity is the result of better individual performance.
"Salary disparity is a highly sensitive subject across all experience levels. Employers need to address aberrations and correct misperceptions tactfully as these directly impact employee motivation, performance, productivity and loyalty. It is essential for companies to conduct salary-benchmarking surveys and correct actual and perceived inequalities in compensation among their workforce. This will help them meet employee expectations and significantly improve performance and motivation levels." says Vivek Madhukar, COO, TimesJobs.com in a release.
All respondents report differences in their salaries, compared to colleagues at the same level in their own organisations. According to the JobBuzz.in survey, 21 per cent employees
feel that there that is more than a 30 per cent difference in salaries among people working at their level while 27 per cent feel that there is a 20-30 per cent salary disparity in their own companies.
Most employees (34 per cent) report a 10-20 per cent difference in salaries of others with the same rank as them. Only 18 per cent respondents say that the disparity in their company's compensation packages for the same level is below 10 per cent reports JobBuzz.in.
This JobBuzz.in survey covered 429 women and 546 men. On the gender front, many employees feel there is still a significant salary disparity between the genders for the same profile. Nearly 43 per cent employees say there is a considerable difference in the salaries paid to male and female employees for the same role and level in their organisations.
Nearly 25 per cent respondents held that the level of salary disparity between male and female employees ranges between 10 and 20 per cent. And 21 per cent employees feel there is 20-30 per cent disparity between male and female employees. Another 7 per cent employees say the disparity is higher than 30 per cent in their own companies.
Source : http://economictimes.indiatimes.com/
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