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Salary details now part of most job postings in India
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IANS | 15 May, 2023
Pay transparency and salary details have increased significantly with
job postings in India in recent months to attract the best talent, a
report showed on Monday.
About 46 per cent of all India
job postings on Indeed website now include employer-provided salary
information, an increase of 64 per cent in the last one year and 11 per
cent in the last three years, the job portal said.
Cities like
Delhi (208 per cent), Mumbai (71 per cent), Bangalore (63 per cent) saw
the highest increase in jobs that offered salary data to potential
jobseekers.
However, tier 2 and 3 cities are a long way away from
pay transparency, and cities like Nashik and Surat are seeing a
de-growth in job postings with pay details.
"Employers in India
are adapting to changing demographics by adopting new strategies to
attract the latest generation of talent. High attrition rates and
intense competition for skilled workers necessitate a shift towards pay
transparency," said Sashi Kumar, Head of Sales, Indeed India.
Going forward, we see the market being more conducive for pay transparency, he added.
In
India, there is no legislation that mandates pay transparency. However,
the workplace has experienced a shift since the pandemic with GenZ
coming into work, who are embracing pay transparency.
Other
cities like Ahmedabad, Vadodara and Mohali saw only a marginal increase
of 2 per cent, 15 per cent and 18 per cent, respectively, on pay
transparency.
Remote job postings also saw a 76 per cent increase
in pay information, showcasing how important remote jobs still are in
the Indian landscape, with more employers choosing transparency to
attract the right talent, the report noted.
Pay transparency has grown the fastest in high-wage occupations like finance, engineering and mathematics.
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