The implementation of 5G technology is anticipated to be a significant factor for telecom companies when determining salary hikes, particularly as two out of three private telcos are actively expanding their services. Consequently, both technical and sales personnel are expected to receive salary hikes, with slightly higher increments projected for executives in technical roles.
As the telecom industry continues to grow and evolve, companies are looking to attract and retain the best talent in order to stay ahead of the competition. One way to do that is through salary hikes, and industry experts are predicting that telecom companies will be handing out raises in the range of 10-12% in the coming year.
This news comes as a welcome relief to employees who have been dealing with the effects of the COVID-19 pandemic for over a year now. Many companies have had to make tough decisions regarding salaries and benefits due to the economic downturn caused by the pandemic. However, the telecom industry has been one of the few bright spots in the economy, with demand for telecom services and products skyrocketing due to remote work and distance learning.
According to industry experts, the telecom industry is likely to continue its growth trajectory in the coming year. This means that companies will need to remain competitive in order to attract and retain the best talent. One way to do this is through salary hikes. In fact, a recent survey of telecom companies found that over 80% of them plan to give salary hikes to their employees in the coming year.
The salary hikes are not only good news for employees, but they are also a positive sign for the overall economy. The telecom industry is a key player in the global economy, with many countries relying on telecom services and products to power their businesses and connect their citizens. By investing in their employees, telecom companies are helping to ensure that they remain competitive and continue to drive economic growth.
So, what can employees expect in terms of salary hikes? According to the same survey, the average salary hike in the telecom industry is likely to be in the range of 10-12%. This is higher than the average salary hike in other industries, which is typically around 3-5%. The highest salary hikes are expected to go to employees in areas such as research and development, software engineering, and data science.
Of course, not all employees will see the same level of salary hike. It will largely depend on their job role, experience, and performance. However, even those who receive smaller salary hikes can still take comfort in the fact that their company is investing in their growth and development.
It’s also worth noting that salary hikes are not the only way that telecom companies are investing in their employees. Many companies are also offering additional benefits such as healthcare, paid time off, and flexible work arrangements. This is particularly important in light of the ongoing pandemic, which has highlighted the need for employees to have access to healthcare and work-life balance.
Overall, the telecom industry’s decision to hand out salary hikes in the 10-12% range is a positive sign for both employees and the economy as a whole. It shows that the industry is committed to investing in its employees and remaining competitive in the face of changing market conditions. As the industry continues to evolve, it’s likely that we’ll see even more investment in employee development, which will help to drive continued growth and innovation.