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The Covid-19 pandemic has had a profound impact on how companies manage their workforces and it will eventually drive changes in compensation strategy, said David Knopping, president and head of global rewards solutions at professional services firm Aon.
Aon’s Executive Compensation Survey 2019-20 revealed that over 70% of the organisations in India have some form of Long-Term Incentive (LTI) as part of their management compensation package.
As per the analysis, a 4% gross increase of basic wages due to reduction in EPF contribution to 10% for both employers and employees for May, June and July 2020 may not make a material difference to an employee.