New Delhi: ITC, Reliance Retail, Adani Group, TCS, Coca-Cola, Eicher, Deloitte, Mahindra Group, Maruti Suzuki, PepsiCo, HDFC, ICICI, Wipro, HUL, Samsung and Hewlett Packard are among 500 firms that have listed themselves as 'partner companies' for the PM internship scheme, launched on October 3. Executives at some of these companies that ET reached out to said they are starting the process to hire interns across roles such as sales, marketing, entrepreneurship and farm-focused roles. "Corporate houses would have to take this forward to create a multiplier effect," said Vinod Aggarwal, managing director of VECV (VE Commercial Vehicles, a Volvo Group and Eicher Motors joint venture).

The government needs to focus on formulating clear laws, and standard operating procedures to protect workers and interests of companies to foster a more stable industrial environment in the country, economic think tank GTRI has suggested. It also said that to reduce industrial strikes, India must prioritize protecting workers' rights while maintaining industrial stability and there is an urgent need to take steps to help address labour disputes before they escalate into strikes. "Industrial strikes have led to factory closures and job losses in India for decades," GTRI founder Ajay Srivastava said, adding that the strike by over 1,000 workers at Samsung's Sriperumbudur factory in Tamil Nadu since September 9 is not an isolated event.

BENGALURU: Employees in sectors such as professional services, engineering, manufacturing, retail, and global capability centres (GCCs) are likely to receive higher salary increments compared to those working in other industries, according to a survey conducted by professional services firm Aon. In 2025, the average salary increase across various sectors is anticipated to reach 9.5%, a slight uptick from the 9.3% projected for the current year. The engineering, manufacturing, and retail industries are poised to offer the most substantial wage hikes at 10%, signalling the critical role that skilled professionals play in these domains amidst the prevailing economic conditions. Following closely behind, the financial sector is expected to provide a 9.9% salary increment, further underscoring the strategic value that employers assign to top-tier talent in navigating the present fiscal terrain. Aon’s 30th Annual Salary Increase and Turnover Survey 2024-25 has analysed data across 1,176 companies from over 40 industries between July and August 2024.

BENGALURU: The timing of salary increases within many IT companies has shifted from the traditional April-June period to the third quarter of the year, introducing a level of uncertainty as the process is now influenced by the demand outlook. Salary increases have become more unpredictable in recent years, with the frequency and timing of these raises varying significantly across industries and companies. The duration of time between wage hikes has also become less consistent, making it challenging for employees to anticipate when they might receive their next pay bump. Ravi Kumar, upon assuming the role of Cognizant CEO last year, implemented a one-time additional salary increase in April, just six months after the company's standard cycle. This measure was taken to address the high attrition rates experienced by Cognizant, which had previously provided a hike in Oct 2022. In the earnings press conference for the Sept quarter, CFO Jatin Dalal said that with the scope to improve utilisation and as attrition has fallen to desirable levels, the time of multiple hikes is over. Consequently, Cognizant implemented the annual pay increase in Aug this year.

There is a debate raging in this country over work. On the one hand, we have industry icons urging young Indians to work 70 hours a week. On the other, the death of an overworked 26-year-old EY employee has caused national outrage. Both sides have their votaries. The ‘work more’ brigade believes being young is about building your career and contributing to the nation. Work-life balance, according to them, is for the weak. Who needs sleep or health when you can add to the company’s bottom line? Working hard, they argue, is just another way to outwork the competition. And life is all about beating the competition.