Network18 & Viacom18 give 100% variable payout to their staff
In these challenging times, organisations are taking various steps for their employees’ well-being – be it transitioning to work from home mode, arranging for COVID-19 vaccination, shortening the work hours, lessening the blow of salary cuts, among others.
Also read: TV18 & Network18 see highest ever Entertainment EBITDA margin in Q3 FY21
The fall in revenues and weak market sentiments have forced several organisations to either cut salaries or downsize. This has led to a lot of hardships for the workforce, which is seeing an increase in household budgets in these times.
Taking note of added unforeseen costs to many household budgets as well as to mitigate some of the hardships caused by the pandemic, Network18 and Viacom18 have decided to pay all eligible employees the variable portion of remuneration for the last appraisal year, ahead of schedule and before the appraisal process is complete.
The bank accounts of Network18’s employees are being credited with 100% of their variable pay irrespective of performance ratings.
This financial relief is in addition to the media group’s drive to get its employees and their families vaccinated against the virus.
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