Grant Thornton India covid-19 pandemic Grant Thornton India

40% India employees witnessed reduction in pay due to COVID pandemic: Survey

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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

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