June 25: The recent pay raise for corporations announced by the government has ruffled more than a few corporate feathers. Most of the corporations said the raise is hogwash.
Some of the CEOs BBS spoke to, said the salary of their staff will actually decrease. Others said the raise, if there is any, is bare-minimal.
They said they were already facing difficulty attracting and retaining senior experienced staff.
The CEOs said some of their more experienced senior staff have started leaving for greener pastures. A leading financial institute said it has lost one deputy managing director, one manager, and three other senior staff. Another financial institute said it has lost three senior staff.
The Bhutan Post has lost eight of its staff over the last three months– two of them just recently. The Food Corporation of Bhutan lost a senior engineer.
The salary revision for corporations owned by Druk Holding and Investments is being re-discussed with the Finance Ministry.
There are about 10,000 corporate employees in the country.
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