Chennai: Hyundai Motor India Limited (HMIL) and the United Union of Hyundai Employees (UUHE) have parked their negotiations in the sweet spot — with the signing of a long-term wage settlement agreement that runs from April 1, 2024, through March 31, 2027.
The three-year deal delivers what many would call “industry-best mileage” in salaries: a total increase of ₹31,000 per month, rolled out in neat instalments — 55% in year one, 25% in year two, and the last 20% as the “final gear shift” in year three. This, in addition to Hyundai’s trademark perks like top-notch health coverage and wellness programs, ensures that employees not only drive to work but also cruise into a healthier lifestyle.
Youngmyung Park, Function Head – People Strategy at HMIL, quipped, “At Hyundai, our people are the turbochargers of our success. This settlement reflects the horsepower of mutual trust and the torque of constructive dialogue. Together, we are building a workplace engine that runs smoother, faster, and longer.”
For the UUHE — the recognized union since 2011 and currently representing 1,981 employees (90% of the technician/workmen cadre) — the agreement is another reminder that the voice of the workforce can steer big decisions without blowing a gasket.
With this deal, Hyundai has not just raised wages but also raised the industry bar, making sure every employee’s paycheck packs as much punch as one of their turbo-petrol engines.
