New Delhi: India Inc.
can provide employees of an average annual salary increase of 9.4% by 2022 up from 8.8% by 2021, showing the latest survey.
Increasing increases not only signifies economic recovery but also increases consumer sentiment.
The top three sectors with the highest salary increase projection are technology, e-commerce and services that support IT, while hospitality, engineering services and energy have the lowest projections.
“While 2021 is a year where certain sectors remain stressed due to Covid-19 pandemic, most of the business has an optimistic view of 2022 and projects a higher salary increase,” said Nitin Setyi, partner and CEO of business performance and aon prizes in India .
More and more companies predict business prospects are upgraded for 2022 compared to 2021 which increases the opportunity to ride a higher salary increase.
For 2022, 62% of the companies predicted increased business prospects compared to 45% by 2021, while 27% said there would be no impact.
“We see positive sentiments in most sectors, high investor confidence with sustainable direct foreign investment that flows into the country and foster consumer demand in most segments,” Sethi said.
In terms of employees who return to the office, the industry ranging from financial and retail institutions to automotive and chemicals expect more than half of their staff to join the workplace.
Friction, however, remains a concern, according to reports of AON salary increases, which surveyed more than 1,300 organizations in 39 sectors.
India Inc.
witnessed a total two-digit friction of a high 20% together with voluntary friction of more than 15%.
“Two-digit high friction is the strongest that we have seen in more than a decade.
War for Talent returned to India, which we anticipated will maintain a high salary,” Sethi said.
While 68% of organizations are projected to share more than 8% increase in 2022, the percentage that is expected to offer 8-10% has increased to 43% from 37% in 2021.
Although the other Covid-19 waves hit the country hard, Indian organizations have been Shows resilience in riding difficult times, “Roopank Chaudhary said, partnering in the human business of Aon.
“While the risk of pandemics in India continues, business sentiments and salary projections for 2022 told us that employers build growth and far more prepared than in 2020.”
‘India Inc. is expected to distribute an average salary increase of 9.4% in 2022’
