Good news for Videocon Telecom employees!

As it goes for an expansion drive, mobile services provider Videocon Telecom is planning to give up to 38% increment, including bonuses, in the 2014-15 fiscal to its around 1,300 employees.

The employees will receive an average 11% of the pay hike as a fixed component in their monthly salaries, while the rest will be given in the form of bonus towards early 2015. Besides, there will be a performance linked bonus.

Videocon Telecom Chief Executive Arvind Bali said “giving high pay increases and hiring from professional institutes will go a long way towards meeting its expansion plans.” It has operations across four circles and is hiring professionals for rolling of 2G services in three more - UP-East, UP-West, Bihar and Jharkhand - apart
from a future roll out of 4G services, for which it has signed a deal with Chinese equipment maker Huawei."

The move follows similar hikes by other telecom operators as well as they expect a turnaround in the economy and look to retain talent.

Vodafone India has given an average rise of around 8.5%, with average performers getting 2-4% and the top ones 12-14%. Bharti Airtel will give 9-11% hikes this year, reports said.

According to a survey, telecom sector’s executives are hopeful of 10 to 20% salary hike in the appraisal cycle. “The trend over salary hike is also significant, considering the fact that average salary increments in the last two years had averaged at less than 10 %.”