Salary Hike: Hyundai Motor India has given a significant boost to its employees. As part of an agreement with the United Union of Hyundai Employees (UUHE), the company has announced a monthly salary increase of up to ₹31,000 from April 2024 to March 2027.
This increase will be applicable to technicians and working class employees and will be implemented in three phases. The company states that this decision will strengthen employee welfare and the organization’s long-term growth.
South Korean automaker Hyundai Motor India has announced a significant salary hike for its employees ahead of the start of Navratri. The company has announced a monthly salary increase of up to ₹31,000 for the period from April 1, 2024, to March 31, 2027. This agreement was reached between Hyundai and the employees’ recognized union, the United Union of Hyundai Employees (UUHE).
Technicians and working class will directly benefit
Hyundai clarified that this long-term wage agreement primarily applies to technicians and working-class employees. This decision will directly benefit thousands of employees and improve their quality of life.
Salary hike will be done in a phased manner
The company said that the increase of Rs 31,000 will be given in a phased manner over three years.
- 55% in the first year
- 25% in the second year
- 20% in the third year
In this way, gradually the monthly income of the employees will increase significantly.
Company vision and strategy
Youngmyung Park, Head of People Strategy, Hyundai Motor India, said that this agreement is based on mutual trust, respect, and positive communication. He believes this step will help build better relationships between the company and employees. Furthermore, this agreement will foster a progressive workplace culture that prioritizes employee well-being and strengthens the organization’s long-term growth.
Beneficial for both employees and the company
Experts say that such a pay increase will not only strengthen employees’ financial position but also enhance their work efficiency and loyalty to the company. This move will set a positive example in the industry and inspire other companies to pay attention to employee well-being.
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