They said that Air India, which is in the process of revamping itself under a five-year transformation plan, is providing competitive salary increments to attract and retain talent as part of larger efforts to have a performance-driven and meritocratic culture among the employees
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According to sources, Air India implemented an annual goal performance incentive for pilots on Thursday in addition to announcing annual compensation increases for its employees. Since the Tata Group took over the financially struggling airline a little more than two years ago, this is the first appraisal procedure. Pilots receive a monthly raise ranging from Rs 5,000 to Rs 15,000, according to their expertise and role. Pilots may receive a yearly goal performance incentive of up to Rs 1.80 lakh, according to the sources.
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According to the sources, Air India CHRO Ravindra Kumar GP announced compensation increases for staff on Thursday, effective April 1, 2024, along with performance bonus distributions for FY 2023–2024 based on both company and individual success. The airline has implemented yearly evaluations for all workers who began employment before December 31, 2023, including ground crew, cabin crew, and pilots, according to a PTI report.
The new Performance Management System (Rise.AI) serves as the foundation for the evaluations. The sources added that the airline has included a component of an annual target performance bonus for its pilots based on company and individual success, which will be applicable from FY2024–25, in addition to the rise in fixed pay for FY 2023–2024. First officers' and captains' monthly fixed pay would rise by Rs 5,000 apiece as a result of the wage review. According to the sources, the monthly increase for commanders and senior commanders will be Rs 11,000 and Rs 15,000, respectively.
Junior first officers' fixed monthly payments will not increase. The annual goal performance bonus will be given out per each employee's and the company's performance. According to the sources, a junior first officer will receive an annual bonus of Rs 42,000, subject to satisfying expectations. For first officers and commanders, the sum will be Rs 60,000 annually. The yearly incentive for commanders will be Rs 1.32 lakh, and for senior commanders, it would be Rs 1.80 lakh. This is the first evaluation of Air India employees following the Tata Group's acquisition in January 2022. According to the sources, the only things completed last year for legacy personnel were contract rearrangement and compensation. Air India employs over 18,000 people.
According to the reports, Air India, which is undergoing a five-year transformation plan, is offering competitive compensation increases in an attempt to draw and keep talent. This is part of broader attempts to foster an employee culture that is meritocratic and performance-driven. The airline accomplished significant milestones in the last fiscal year, establishing solid groundwork for expansion and change, according to CHRO Kumar, who also announced the assessments. In keeping with its Vihaan.AI mission, the airline launched Rise, a modern annual performance review procedure.
AI and also transitioned to a simplified, market-competitive and productivity-oriented compensation structure for employees, he added. In late 2022, Air India announced the five-year transformation plan Vihaan. AI. Air India group has four airlines -- Air India, Air India Express, AIX Connect (formerly AirAsia India) and Vistara. Air India Express is merging AIX Connect with itself, and Vistara will be merging with Air India.
(With Inputs from PTI)
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