Rapido Merit Increment

Since we are seeing a lot of layoffs, a lot of companies are using this as an excuse to provide less increment this year. Interested to know what sort of increments are you’ll getting this year and how much did you get last year?

Apparently there was a decision to layoff 20% of workforce which was revoked at last minute by leadership. Good sign or not? Could signal lack of forethought among those at top. What do you guys think?

In this IT recession, where Rapido and many other organization hired IT employee at 5x-10x salary and now they are not able to pay because they are not growing. Due to which other teams like Marketing, Operations, Sales, Finance all are suffering because : 1. Company made policies that appraisal will be on variable based and only be given when company achieves EBITA +ve, if not no employees will get appraisal which is really frustrating. 2. Outside, because of IT recession, no other companies are hiring for any field and due to this reason Rapido taking the advantage of employees of giving extra load of work with minimal employees , no salary increment because targets are high to achieve EBITA +ve. So, employees have no options left to do anything. What and how to get rid of this situation and how to get better opportunity via referral? Any better suggestions?

Almost 50% of the org got no increments People with "exceeds" rating got single digit increments Only promotion cases have got early to mid double digit increments Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.

Rapido will be laying off from all departments in next 1-2 months due to not able to achieve EBITDA +ve. Laying off Funda is totally unacceptable. - what is the 1st thing to do - professionally and personally? - how to reach to the right people to get referrals for operation profile? - how to highlight with every other organisations and awaited employee to join in Rapido?

Heard the market is back roaring again for some. We are so coming back.

This year, the increments in my company were fairly good, with an average of 21% and the highest being 30% in my team of 10 people. The average rating was 4/5. Given the current market situation, these increments can be considered decent. However, despite these figures, none of the team members seem satisfied. Last year’s increments were better, but still, this year’s numbers aren’t bad. Considering our positive company culture and manageable work pressure, I’m curious to understand why the expectation might be so skewed. How much of an increment is generally enough to make employees happy? Were the increments really that bad, or is there something else at play here?

Most of the employees got 3-5% increment, anyone got a news of higher increment?