Why working 15 hours per day in a private company? Go for a Government job. You would say “I want more money”. I would say money is a not a problem. Just check out the latest hikes offered by Central Government. You would love to work for them. Actually, this week, the Government of India has announced a huge pay hike for higher executives and non-unionized supervisors of Central Public Sector Enterprises (CPSEs). Their revised pay hike would be effective from January 1, 2007. Besides two to three fold increase in basic pay and allowances, Government has also introduced performance related incentives for officers
The decision was taken in a meeting of Union Cabinet, chaired by Prime Minister Manmohan Singh. This historical decision would benefit about 2.58 lakh executives and over 1.2 lakh non-unionized supervisors in India. However, only executives and workers of profit-making CPSEs would be entitled to implement revised pay structure. Actually this is not a surprised move by Government, the aim behind this hike to minimize attrition rate in CPSEs and lead to increase productivity and efficiency in their work. The new pay-scale will be applicable for all 217 CPSEs, but only 151 profitable companies will be able to implement it. However, on the basis of their present level of profitability, right now only 76 CPSEs would be immediately able to implement the package fully.
Government announced the pay hike on the recommendations of the Committee of Secretaries, in which CPSEs are classified into four categories – A, B, C and D. Check out this snap to know more.