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Last Updated : Jul 08, 2020 04:17 PM IST | Source: Moneycontrol.com

Automobile companies plan bonuses, increments to boost employee morale: Report

Kia Motors and MG Motor have already offered their employees variable pay and other incentives

Representative image
Representative image

Amid the economic fallout of the novel coronavirus, or COVID-19, pandemic, automobile manufacturers are making sure they offer increments and bonuses to boost staff morale.

Human resources (HR) executives told The Economic Times that while payouts may be delayed due to a cash crunch, companies should avoid taking harsh decisions.

Moneycontrol could not independently verify the story.

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Kia Motors and MG Motor have already offered their employees variable pay and other incentives, the report said. Mahindra & Mahindra (M&M), Hero MotoCorp, Ashok Leyland, TVS Motor, Toyota Kirloskar and Tata Motors are likely to make payouts in August, it added.

At M&M, bonuses are usually offered on June 1, the report said. "While bonus will be paid this year, we will take a call when to do it," Rajeshwar Tripathi, Chief HR Officer at M&M, told the publication.

Maruti Suzuki may announce increments in August, but salary hikes are likely to be lower than previous years, the report said.
First Published on Jul 8, 2020 04:17 pm
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