The media is not justified in projecting the proposed pay hikes by 6th Pay Commission as "grand" or "bonanza". Just like many such stories, the media doesnot bother to analyse and goes ahead & shoots its mouth off..
Let me put a few things into prespective :
1. This wage revision comes 10 year after the previous one implemented from 1996/1997, which had hiked by 30% or so.
2. Thus the annualised hike for 1997-2006 works out to 3% only.
3. Coupled with an annual increment of 2-4%, this hike worked out to proabably 5-7% pa for 10 years upto 2006.
4. Does it compare this with the pvt sector average of 10-15% pa during the last 10 years ?
5. The SPC proposal is for fixing the wages for the next 10 years. So 40% being reported translates to approx 4% pa upto 2016.
6. Coupled with annual increments of 2-4% (if not changed by SPC), this works out to 6-8% per year upto 2016 !! So where's the bonanza !!?? And how comes media terms it as "GRAND"?
7. Even when the profits of IT Sector are hit by strong rupee, news reports say that the wage hike for their employees will be around 10% pa.
8. Going by that standards, profit making PSUs should be sharing more with their employees..
9. Pvt sector employees enjoy many other benefits like ESOPs, liberal loans, incentives, bonuses, etc., which are denied to most PSU employees.
10. While the debate on "responsibility v/s pay hike" is most welcome, please appreciate that PSUs have turned profitable by virt
RE:Wrong portrayal by media !!
by Sunderam Aiyer on Mar 24, 2008 02:40 PM Permalink
You have put the whole matter in a nutshell!! Way to go! Let these private job people suck on this for a while.
RE:Wrong portrayal by media !!
by Viz Narayan on Mar 24, 2008 03:07 PM Permalink
Hey Aiyer,.It is you guys who suck your Bosses and politicians..We rely on our efficiency and performance to get more.
RE:Wrong portrayal by media !!
by sunil pradhan on Mar 24, 2008 02:44 PM Permalink
pvt. employees dont suck u know they can live anywhere with capabilites but u die e'day .
