Ahead of the festive season, firms restore salaries back to pre-COVID levels amid economic recovery

The festival season this year is popping bent to be a blessing for several employees who have lived with salary cuts since the Covid-19 outbreak.

As economic activities devour, some companies have started restoring salaries during a graded manner to realize pre-COVID-19 levels before November

Among them are auto component makers Lumax Industries and Sandhar Technologies, tech firms Upgrade and Toppr, construction equipment giant TIL, interior design and residential decor company Livspace, engineering major Forbes Marshall, and Deki Electronics.

While worker wages are being restored on priority, export companies are still during a wait-and-watch mode before reinstating salaries of their top management.

Over the subsequent few months we'll increasingly see companies restoring salaries,” said Nitin Sethi, CEO, (Performance, Rewards, and Organisation) at Aon India, adding that it's important that employees are “engaged, motivated and driven.