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Salary increments: It's likely to be old normal in 2021 - The Hindu BusinessLine

Salary increments: It’s likely to be old normal in 2021
March 04, 2021
Despite its best intentions, any corporation will find it challenging to carry employees throughout their career if they do not see enough value. However, what it can help do is to ensure that its workforce is abreast with the future skills. - Getty Images/iStockphoto
Despite its best intentions, any corporation will find it challenging to carry employees throughout their career if they do not see enough value. However, what it can help do is to ensure that its workforce is abreast with the future skills. - Getty Images/iStockphoto× ....

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More companies may hand out bigger pay raise this year

More companies may hand out bigger pay raise this year
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Average increments for India Inc are expected to go up to 7.3 per cent from 4.4 per cent in 2020 with 92 per cent of companies planning to give increments this year vs 60% last year, says a survey.
The overall 7.3 per cent projected increment, however, is lower than the 8.6 per cent average increment in 2019.
(This story originally appeared in
on Feb 18, 2021)Good news for India Inc employees. After a pandemic-hit 2020, bigger salary hikes are on the cards in 2021. Also, more companies will be handing them out. Average increments for India Inc are expected to go up to 7.3 per cent from 4.4 per cent in 2020 with 92 per cent of companies planning to give increments in 2021, compared with only 60 per cent last year, according to the 2021 Workforce and Increment Trends Survey (Phase 1) by Deloitte Touche Tohmatsu India. ....

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Companies in India likely to give 7.3% average increment this year: Survey

Companies in India likely to give 7.3% average increment this year: Survey
PTI
New Delhi |
Updated on
February 18, 2021
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The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019
Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey.
The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. ....

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92% companies to give salary hikes; increments to jump to 7.3% from 4.4% in 2020: Survey

Of the companies that did not give an increment in 2020, only about 30% plan to compensate employees for the previous year through higher increments and/or bonuses. ....

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Top headlines: RBI approves Piramal's DHFL plan; Apple lobbies with India

Read more about Top headlines: RBI approves Piramal s DHFL plan; Apple lobbies with India on Business Standard. In Australia, Facebook has blocked access to news on its platform. More on that story in our top headlines ....

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