Banks and Auto Companies Started Increments for the Employees
The business of many companies has reduced due to coronavirus. As many employees as possible are working from home. Many companies cut the salaries of the employees, while many removed them from their jobs. But now the atmosphere is changing. Some banks have started incrementing to encourage their employees and many banks are thinking of doing so. Companies in the auto industry are also preparing to follow this path.
HDFC and Axis Bank lead
HDFC Bank has incremented its employees and is at the forefront of encouraging them. Axis Bank has also announced bonuses to about 80 per cent of its employees. ICICI Bank and Future Generali have also announced increments to their employees. ICICI Bank has announced 8% increments to its 80 thousand employees. The rest of the banks are also following this path.
Why are banks doing this?
A senior executive of a private bank said that the workload is bound to increase in the coming times, so people will be needed. In such a situation it is necessary to encourage them, for which banks are now giving increments.
Automobile companies will also provide increments
Not only banks, who are giving increments to increase the enthusiasm of their employees, but also auto companies are following this path. They are also preparing to give bonuses and increments to their employees. Kia and MG Motor have already been given variable pay and other incentives. Mahindra, Hero Moto Corp, Ashok Leyland, TVS Motor, Toyota Kirloskar and Tata Motors are also going to give increments to their employees soon. Maruti Suzuki is due to give increments in August, but this increment will be less as compared to previous years.