Mumbai: Men and women employees in India share divergent views while selecting their right employers. Men employees give high priority to monetary benefits while women look for complete reward offerings from employers before selecting their career destination. As per EY Rewards Survey in India 2016, 66% women respondents are satisfied with their pay check while only 50% men are satisfied with their salary. This possibly indicates men focus more on cash while women emphasises more on complete reward benefits and value.
On an overall, one in four employees is clearly dissatisfied with the rewards programs provided by the employer. On various compensation and rewards program management, both employees and employers differ as 76% of the employers surveyed believe that the performance of employees impacts their compensation, only 55% employees agreed. On the factors determining compensation, both employees and employers are on the same page as 68% employers say they understand the factors while 65% employees agree.
More interestingly, employees in the financial services and TMT industries claim to understand the factors that affect their compensation more than employers in other industries. However, in comparison, their satisfaction with their compensation is very low.
The EY Rewards Survey 2016 covers views from employers and employees across 12 industries and saw participation from 128 employers and 452 employees. The data was collected during February 2016–March 2016 through a questionnaire that was deployed online. Responses were also collected in person.
Employer and employee responses were collected from Bangalore, Chennai, Delhi/NCR, Hyderabad and Mumbai. The responses have been clustered into the FS, TMT and IIC industries.
