Hyundai Motor India Announces Groundbreaking Employee Wage Settlement

In a bid to strengthen employee relations, Hyundai Motor India has revealed an industry-leading wage settlement, confirming a monthly salary hike of Rs 31,000 effective from April 1, 2024, through March 31, 2027. The settlement, aimed largely at technicians and workmen, follows a constructive dialogue with the United Union of Hyundai Employees (UUHE), the recognized union for the company's workforce.

The agreement details a phased salary increase distributed over three years, with increments allocated at 55 per cent in the first year, 25 per cent in the second, and 20 per cent in the third year. This strategy underscores Hyundai's focus on providing competitive compensation packages that drive morale and productivity.

Hyundai Motor India affirms that this agreement, established on mutual trust and respect, will not only enhance employee welfare through salary but also through sustained wellness programs and health coverage. This settlement highlights Hyundai's commitment to fostering a progressive work environment conducive to long-term organizational growth.

(With inputs from agencies.)