Wages rise as staff crunch looms large
It can’t get any bigger for workers in the real estate sector. Even before the repeal of land acquisition act fuels more construction activity in the coming days, the industry is already experiencing a heavy staff crunch.
By Omkar Sapre, TNN |
PUNE: It can’t get any bigger for workers in the real estate sector. Even before the repeal of land acquisition act fuels more construction activity in the coming days, the industry is already experiencing a heavy staff crunch. Thanks to an unprecedented boom and the dearth of talent, employees in the sector have been witnessing a windfall with wages going up by as high as 200%.
Many workers who were earning around Rs 150 - Rs 200 per day last December, have been seen pocketing on an average Rs 500 - Rs 600 per day this December. The current staff crunch has spiralled the salaries of everyone from unskilled workers to project managers by leaps and bounds. Builders and contractors of commercial, residential as well as infrastructure projects are finding it hard to retain workforce who often switch jobs for salary hike as high as 40%.
Many workers who were earning around Rs 150 - Rs 200 per day last December, have been seen pocketing on an average Rs 500 - Rs 600 per day this December. The current staff crunch has spiralled the salaries of everyone from unskilled workers to project managers by leaps and bounds. Builders and contractors of commercial, residential as well as infrastructure projects are finding it hard to retain workforce who often switch jobs for salary hike as high as 40%.
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