90 per cent employees complain about salary disparity: SurveyNew Delhi: India Inc is being blamed for playing favourites when it comes to pay packages, as 90 per cent of employees feel there is no pay parity in their organisations for the same role
New Delhi: India Inc is being blamed for playing favourites when it comes to pay packages, as 90 per cent of employees feel there is no pay parity in their organisations for the same role and level, a survey says.
According to a survey by JobBuzz.in, the employer rating platform from TimesJobs.com, employees believe their companies pay external hires and favourites more.
"Employers need to address aberrations and correct misperceptions tactfully as these directly impact employee motivation, performance, productivity and loyalty," TimesJobs.com COO Vivek Madhukar said.
The survey noted that nearly 40 per cent of professionals feel this salary disparity is due to external hires being paid more while 35 per cent say it is due to favouritism by managers.
Only 5 per cent reason the disparity is the result of better individual performance.
"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," Madhukar added.
Moreover, 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," the survey said.
"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," it added.
Another 7 per cent employees say the disparity is higher than 30 per cent in their own companies.