As per Mint’s report, Flipkart, the e-commerce platform, has revamped its salary increment policy, dividing annual raises into two parts instead of immediately reflecting them in an employee’s pay structure.
According to the updated policy of Flipkart, the total salary won’t immediately reflect the increase. The company will raise salaries in two parts as follows:
- The first portion is to be paid in April.
- Moreover, The company will be providing the remaining salary increase in the latter half of the year.
Additionally, the report also suggested that Flipkart’s employees are set to receive a 100% bonus, compared to the 80% they received last year, except for those holding positions at the senior vice president level and higher.
These initiatives of Flipkart are anticipated to aid in retaining employees at all hierarchical levels.
Recently, Tata Consultancy Services (TCS) has been preparing to introduce salary increments for its workforce in the approaching fiscal period.
In a move anticipated to uplift the spirits of employees, the company is gearing up to implement a salary hike effective April 1st. As the new financial year unfolds, this boost in remuneration promises to bring a wave of positivity amidst the challenges of the modern workplace.
As reported by Business Standard TCS is expected to provide offsite employees with an average salary increase ranging from 7-8%, while onsite staff may receive increments averaging between 2-4%.
Recently, Flipkart Foundation, the charitable arm of the Flipkart Group, has collaborated with Kineer Services, an organization advocating for gender sensitization, to launch ‘Trans-formation’, an initiative aimed at uplifting the marginalized transgender community and other members of the LGBTQ+ spectrum.
Through this collaboration, the project endeavors to provide comprehensive skills training to 300 transgender and LGBTQ+ individuals, to facilitate successful job placement through dignified employment opportunities.
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