36% Indian firms considering salary freeze over Covid-19 lockdown: Report

The report said that 23 per cent organisations have suspended the promotion increases and 18 per cent organizations deferring or delaying salary increases

With businesses and economic activity almost halted for over a month now amid the coronavirus crisis and the nationwide lockdown, around 36 per cent companies in India are considering a freeze in salary hikes to manage their costs, according to a report by Korn Ferry.

In India, the most commonly implemented measures for rewards and benefits are promotion and salary hike.

The report said that 23 per cent of organisations have suspended promotion increases and 18 per cent have deferred or delayed salary increases.

The Korn Ferry report said: "36 per cent of organisations have implemented or are considering implementing