Indian companies can increase the salary of their employees by an average of 9.1 percent in the year 2022, that is, they can give an appraisal or increment of 9.1 percent to their employees. This information has come to the fore in the ‘Workforce and Increment Trends Survey 2022’, conducted by Deloitte Touche Tohmatsu India. According to the survey, in the year 2021, Indian companies had increased the salary of their employees by an average of 9.1 percent.
The estimated increment revealed in the survey is even higher than the pre-Corona period because in 2019, Indian companies gave an average increment of 8.6 percent to their employees. At the same time, in the year of Corona i.e. 2020, this figure was 4.4 percent.
The survey revealed that this year most of the companies are thinking of giving increment to their employees, whereas in 2021 only 92 percent companies had said to give increment and in 2020 only 60 percent companies did so.
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According to the survey, about 34 per cent companies are planning to give double-digit increments to their employees. In 2021, there were only 20 percent of companies doing this, while in 2020 their number was only 12 percent. On average, most employees at the junior management level expect double-digit increments.
According to the survey, almost all the major sectors are expected to get more increments this year as compared to the last three years. In 2022, maximum increments are expected to come from companies in the life sciences and IT sectors. Apart from this, fintech, IT-product companies and digital/e-commerce organizations are also expected to see double-digit growth this year.
The survey also revealed that about 92 percent of the companies will give different increments to all the employees on the basis of individual performance. A top performing employee can get 1.7 times more increments than an average performer. At the same time, more than half of the companies said that the percentage of increments received by senior and middle level employees would be less than the increment of junior employees.
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