Mukesh Ambani-led Reliance Jio has handed out up to 15 per cent salary hikes to its top performers and highfliers, a move seen as an attempt by the newly launched telco to retain its top talent following a string of high profile exits in recent months.
Reliance Jio’s announcement for annual increments has reportedly come quite late as compared to its last increment cycle.
Jio has hiked salaries of the top performers among its junior and middle level managers by 15 per cent while highfliers among its senior executives, in the level of DGM and above, have got a 10 per cent raise, a person aware of the matter told ET.
"The hikes range is consistent in all key functions - networks/networks IT & support, sales and marketing, customer care, projects, regulatory, and HR,” ET quoted a person as saying.
However, experts suggest handing out increments cannot assure attrition level going down across departments.
Last month, the company's Chief Marketing Officer Pradeep Shrivastava put down his papers, making him the latest to quit the latest telecom entrant.
With his resignation, Srivastava joined a host of other top-level executives across functions who have the quit the telco in recent times.
Jio, which has created ripples in telecom market with its free voice call and cheap data plans, has seen some high profile exits in last few weeks.
The company's chief digital marketing officer, senior vice president digital channels, Martijn de Jong already left to join Aegon India as chief marketing and digital officer.
Its chief cloud architect Soren L Hansen, assistant vice president - data science & analytics of cloud engineering Hari Charan Rao, assistant vice president - security operations Maya R Nair and Pawan S Yadav, business head of public Wi-Fi, have also left the company in quick succession.
In June, Amitabh Jaipuria, who managed Jio's mobility business, had also resigned.
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