Axis Bank is planning to offer a hike in the salaries of its employees during the current economic scenario. according to a report released in media, the company will increase staff salaries between 4% and 12th sent from 1st October based on performance it also paid bonuses to the staff of 7600 employees report said are situations after the pandemic is settling the organizations are coming financially back on track which is leading to promotions and appraisals. Companies with few rounds of job cuts are trying to hold the good employees back.
HDFC has also revised salaries in April based on performance and paid bonuses. Many Indian leaders are seeking to save costs as coronavirus is expected to push sourced assets to two decades high.
but hikes are not only limited to banks many companies in other sectors such as retails, FMCA, and consumer goods have also proposed hikes to the employees.