COVID-19 pandemic continues to impact the job market, a survey has shown that 40 per cent of the employees in the country witnessed a reduction in their pay.
The 'Human Capital Survey' was conducted by Grant Thornton among 16,700 respondents across sectors, including consumer, retail, e-commerce, financial services, manufacturing, automotive, pharmaceuticals and healthcare, among others.
While the total pay decreased for 40 per cent respondents, a temporary reduction in fixed pay was experienced only by 16 per cent of employees, according to the survey.
However, the survey said there was a trend of decrease in the variable pay or performance pay component with over 31 per cent of employees receiving no variable pay, 33 per cent