New Delhi: Salary 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.
In fact nearly 46 percent of all Indian job postings on websites now include employer-provided salary information, an increase of 64 percent in the past year and 11 percent in the past three years, the job portal said.
Cities like Delhi (208 per cent), Mumbai (71 per cent), Bengaluru (63 per cent) have seen the highest growth in jobs which provides salary data to potential job seekers.
However, tier 2 and 3 cities are far from salary transparency, and cities like Nashik and Surat are lagging in job postings with salary details.
“Employers in India are adapting to changing demographics by adopting new strategies to attract new generation talent. High attrition rates and intense competition for skilled workers necessitates a shift towards salary transparency,” said Shashi Kumar, Head of Sales, Indeed India.
“Going forward, we see the market becoming more favorable for salary transparency,” he added.
In India, there is no law that mandates salary transparency. However, the workplace has changed since GenZ entered the workforce, who are embracing pay transparency.
Other cities like Ahmedabad, Vadodara and Mohali saw a slight increase in salary transparency of 2 percent, 15 percent and 18 percent respectively.
Remote job postings also saw a 76 percent increase in salary information, demonstrating how important remote jobs still are in the Indian landscape, with more employers opting for transparency to attract the right talent, the report noted.
Pay transparency has grown fastest in high-wage occupations such as finance, engineering and mathematics.
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