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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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Good news for salaried class! Bumper pay hike this year, double digit increment reveals a survey

Faster-than-expected economic recovery.
Revival in business and consumer confidence.
New Delhi: Companies in India are expected to dole out an average increment of 7.3 percent 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 percent seen in 2020 but lower than 8.6 percent given by companies in 2019.
As many as 92 percent companies that participated in the survey plan to give an increment in 2021 compared to only 60 percent last year. ....

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Muted salary hikes in 2021, pay to rise only 1 per cent: survey

Muted salary hikes in 2021, pay to rise only 1 per cent: survey
The marginal rise in salary projections are a contrast to the business revenue outlook given by top executives; 37 per cent respondents projected a positive business revenue outlook
Sonal Khetarpal | February 12, 2021 | Updated 23:45 IST
After job losses and paycuts in 2020, the year 2021 is being welcomed with hope and optimism. But, as many sectors are still recovering from the impact of the pandemic, the salary hikes for the year are still muted. The year 2020 saw an average actual increase of 5.9 per cent in salaries.
According to a salary survey by Willis Towers Watson, the projected salary rise to be given to Indian workforce in 2021 is at an average of 6.4 per cent, translating to a median increase of 7 per cent, which is only marginally higher than the previous year. ....

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