Employees of these government companies will get a gift!!!
It's possible that senior staff members in central government agencies could soon receive a pay boost. In this context, a proposal is being considered by the government. The compensation gap that exists between senior executives of private corporations and government employees is the subject of this proposal.
To achieve parity with the private sector
According to officials cited in an ET story, top employees of the concerned organizations may see compensation increases of up to 100% following the implementation of the proposal. In actuality, top executives in government agencies are paid less than equivalent salaries in the private sector. A top-level executive exodus occurs under such circumstances. The administration has been presented with a plan to retain elite personnel affiliated with government-run enterprises.
Pay will rise in accordance with performance.
This plan is intended for Central Public Sector Enterprises (CPSEs) with annual revenue exceeding Rs 100 crore. Nonetheless, a number of variables would affect senior personnel' pay increases in government businesses with annual revenue above Rs 100 crore. The pay increase will depend on performance, and factors like asset monetization, project completion time, and profit will all be taken into account.
Public Enterprises Selection Board recommendation
The Public Enterprises Selection Board's plan, according to officials, also calls for raising pay. The board claims that it has trouble hiring people to fill senior roles. The salary for senior jobs in government enterprises needs to be increased in order to overcome them. The packages ought to be so alluring, in PSEB's opinion, that they draw in the suitable applicants.
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