India has emerged as the global leader in pay fairness sentiment, with only 11 perc of employees feeling underpaid, according to ADP’s latest report. The study shows global unfair pay perception has dropped to 27 perc, reflecting improved compensation equity and trust in workplaces
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The employee perceptions of fair compensation are improving worldwide, as the percentage of workers who feel they are unfairly paid has decreased from 31 per cent to 27 per cent year over year, a report said.
The report from human capital management company ADP said that “India leads in pay fairness sentiment among the 34 markets surveyed, with only 11 per cent of workers reporting dissatisfaction with their pay,” as cited by news agency IANS.
It further stated that there are significant disparities among markets, with South Korea and Sweden reporting the highest levels of pay unfairness sentiment at 45 per cent and 39 per cent, respectively.
Highlighting significant gender pay gaps in numerous countries, the report also stated that over 30 per cent of women in 15 out of 34 markets indicated unfair pay, compared to only five markets for men.
However, India was reported among the few markets where a larger proportion of men (12 per cent) than women (9 per cent) perceive their pay as unfair.
While the pay fairness dissatisfaction in India has also decreased with age from 13 per cent among workers aged 18-26 to just 5 per cent among those aged 55 and above, contrary to the global trend.
Rahul Goyal, Managing Director, ADP India and Southeast Asia, further said that “Fair pay is more than a compensation conversation; it is a trust conversation. When employees believe they are paid fairly, they are more engaged, motivated, and loyal,” as cited by news agency IANS.
India's leading position in pay fairness sentiment indicates progress in equitable pay practices. The report also indicated that employers need to ensure fairness extends beyond salary to include opportunities, growth, and recognition to foster long-term employee engagement, as reported by news agency IANS.
Earlier in October, global payroll and compliance platform Deel, while highlighting the median salaries for men and women in India, stated that "median salaries in India are nearly equal, ranging from USD 13,000 to USD 23,000, reflecting 'growing pay equity and the adoption of data-driven compensation models'," as per IANS.
(With inputs from IANS)
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