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54 percent Employees across sectors in India’s major cities dissatisfied with their Salary structure: Survey

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Hyderabad, April 5, 2017: Most employees across sectors in India’s major cities are dissatisfied with their salary structure, reveals a survey by Wisdomjobs.com, one of India’s leading end-to-end online recruitment and career solutions portals.

The survey on employees’ satisfaction with their salary structure 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.

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“Millennials, popularly known as the Gen Y, make up the largest chunk of employees in most organisations. We are also seeing a growing proportion of Gen Z employees, to be precise those in their early 20s, are being taken on-board every year,” said Ajay Kolla, Founder & CEO, Wisdomjobs.com.

As many as 62 percent Gen Z employees said they are not content with their current salary structure along with 46 percent of the Gen Y employees. The overall percentage of discontented employees of those surveyed was 54.

Nearly 70 percent of those dissatisfied with their salary felt that it was not in line with market standards while 30 percent felt that it was not commensurate with the responsibilities being handled by them.

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As many as 45 percent said 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 benefits and retirement benefits.

The report revealed that 28 per cent and 44 per cent of Gen Z and Gen Y employees, respectively, said they would prefer more non-monetary benefits such as medical/health insurance coverage, flexible work arrangements and post-retirement benefits.

Almost 30 percent of Gen Y and 18 per cent of Gen Z employees preferred work-from-home benefits over increased salaries.

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While nearly 60 percent of women surveyed felt non-monetary benefits to be equally important as higher salaries, only 30 per cent men felt so.

Among cities, the south Indian cities showed the highest and the lowest level of salary satisfaction with Bengaluru at highest level of 63 per cent and Chennai at the lowest with just 46 per cent.

Pune stands at 57 per cent, Mumbai at 54 per cent, Hyderabad 51 percent and New Delhi at 49 per cent. (IANS)

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Employees at Facebook Looking For Better Opportunities in Future

According to the report, Facebook's "difficult year is taking a toll on employee morale, with several key measures of internal sentiment taking a sharp turn for the worse over the past year"

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A Facebook logo is displayed at a start-up companies' gathering in Paris, France. VOA

Many employees of Facebook are looking for better opportunities as scrutiny of the company’s conduct rises following several cases of data leak and as its stock price take a beating, CNBC reported.

Facebook employees are contacting former colleagues to look for jobs outside the company, said the report on Monday.

At least six former Facebook employees told CNBC that they have started receiving an increasing number of calls from current employees of the social network to inquire about job references.

While common at other places, this type of behaviour is unusual for employees of Facebook, which had been known around Silicon Valley as the company that no one leaves, the report said.

While there is no firm data showing a significant rise in departures or employee dissatisfaction, a former Facebook director believes that attrition rate at Facebook might have risen this year.

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Facebook may see higher attrition rate in coming days. VOA

According to a report in the Wall Street Journal last month citing an internal survey at Facebook, just over half of Facebook employees (52 per cent) said they were optimistic about the future of the social networking platform — down by 32 per cent last year.

Only 53 per cent of Facebook employees said the company was making the world better, which is 19 per cent lower than last year.

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According to the report, Facebook’s “difficult year is taking a toll on employee morale, with several key measures of internal sentiment taking a sharp turn for the worse over the past year”.

A Facebook spokesperson was quoted as saying: “It has been a difficult period, but every day we see people pulling together to learn the lessons of the past year and build a stronger company.” (IANS)