While coronavirus has taken a major toll on businesses across sectors and companies have resorted to mass layoffs amid dwindling operations, there are a few sectors which have shown resilience.
While coronavirus has taken a major toll on businesses across sectors and companies have resorted to mass layoffs amid dwindling operations, there are a few sectors which have shown resilience due to which companies in these sectors may look at increasing employee salaries. “Employers are cherry picking profiles and doling out rewards. While salary growth may range from a marginally positive to stagnant or even negative (given the dire situation created by COVID-19), the increment for some of the “super-specialised” profiles can go beyond 15%,” a TeamLease report said on Tuesday.
These “COVID proof” profiles include Hadoop Developer in BFSI, animators working in the educational services, Collection Officer in industrial manufacturing and allied and Digital Marketing Head in Information Technology and knowledge services. Some other job designations which are likely to see a salary increase are in e-commerce and start up sector, FMCG, FMCD, BPO and IT enabled services, healthcare industry, etc.
“While businesses will stay conservative with salary increments, they have not shied away from rewarding specialised skills. In fact, the pandemic has amplified the importance of skilled profiles in the world of work. It has brought to forefront the trinity between skills, performance and rewards,” Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services said.
However, not all of the workers are as lucky as those employed in upbeat sectors such as IT. As the Automobile industry has been facing the headwinds of slowdown for over a year now and with the Hospitality and Tourism business down as well, Fitters in the Automobile and Allied sector and Tour Operators in Hospitality sector are likely to witness a degrowth in salaries.
Going ahead, certain profiles are likely to exhibit high growth rates due to changing consumer behaviours and lifestyle. These profiles include Warehouse Executive in e-commerce and startups, Beauty Advisor, Sales Support Executive in healthcare and pharmaceuticals, and Finance Manager in Power and Energy, among others.