In this era of Corona era, where many people had to lose their jobs, there is great news for the employees. This year the salary of the employed employees is expected to increase tremendously. It will reach the level before the corona virus. This has been revealed in a survey. It has been said in this study that the average salary increase in the year 2022 is estimated to be 9.4 percent, while in the year 2021 the average increase was 8.4 percent.
Before the 2019 corona virus, the average salary increase in India was 9.25 percent. According to the annual survey report of Korn Ferry India, most of the traders of the country believe that the impact of corona virus is unlikely to affect the business this year.
Meanwhile, after the financial year 2020-21 affected by the corona virus epidemic, companies are declaring better results in the current financial year. According to experts, the increase in salary will largely depend on the performance of the business, industry metrics and benchmarking trends. There is also another reason for the increase in salary at the earlier level of Corona virus that there is a race between many companies to retain the talent.
Due to the worldwide corona virus epidemic and subsequent lockdown, a large number of people are leaving their jobs for the purpose of better lifestyle, higher salary, flexibility to work. The survey found that 40 per cent of the employees are actively looking for jobs.
In the last fiscal year, many companies had postponed the decision to increase salaries, because the first goal of companies was that they did not have to lay off. However, this time companies are not only increasing the salary, but are also providing huge bonuses and other facilities to retain the talented employees.
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How much salary can increase in which sector
Meanwhile, tech companies are expected to grow by 10.5 percent. After this, there can be a salary increase of 9.5 percent in life sciences, 9 percent in service, auto and chemical companies. Meanwhile, out of 786 companies surveyed, 60 per cent companies are giving Wi-Fi coverage allowance to employees. At the same time, only 10 percent of the companies involved in this survey are preparing to reduce or cancel the travel allowance.
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