New Delhi: Indian corporate gave up an average increase of 8 percent by 2021, and initial estimates revealed that the average increase for 2022 was expected to increase to 8.6 percent in line with the healing economy and increased trust, according to the Deloitte survey.
According to the second phase of the labor trend survey and the increase in Deloitte 2021, 92 percent of the company gave an increase in 2021 with an average of 8 percent, compared to only 4.4 percent by 2020, where only 60 percent of the company had extended the payment of the increase.
For 2022, the average increase is expected to increase to 8.6 percent, equivalent to the pre-pandemic level of 2019, said the survey, adding that around 25 percent of the companies surveyed have projected a two-digit increase for 2022 workers 2021.
and trend surveys of the increase Launched in July 2021.
The main audience for this survey was spiced by HR professionals.
More than 450 organizations participate in this edition are spread in seven sectors and 24 sub-sectors.
Further surveys say that organizations will continue to distinguish salary increases based on skills and performance and performance can expect about 1.8 times the increase given to the average player.
“While most companies projected a higher increase in 2022 compared to 2021, we continued to operate in an environment where uncertainty related to Covid-19 continued, making it more difficult for companies to be estimated.
Some survey respondents also just closed their 2021 increase.
The cycle becomes 2022 increases is a considerable distance for them, “Anandorup Ghose, partner, said Deloitte Touche Tohmatsu India LLP.
In addition, “Estimated GDP for TA 2021-22 was revised down after the second wave and we hoped the organization to supervise a similar development close to managing their fixed costs increased next year,” Ghose said.
The survey showed that in 2022, the Information Technology Sector (IT) was likely to offer the highest increase, followed by the life science sector.
This is the only sector expected to expand a two-digit increase with several digital / e-commerce companies that plan to provide some of the highest increases.
Retail, hospitality, restaurants, infrastructure, and real estate companies continue to project some of the lowest increases in line with the dynamics of their business.
“Very encouraging seeing the majority of companies expanded the increase in 2021 even in the sector that had not fully recovered.
In the future, the functioning differentiation of specific increases might be more common because the friction rate varied significantly in various skills,” Deloitte Touche, Mitra Tohmatsu India LLP, said.
Gupta further notes that “compensation is usually one of the main reasons for friction, especially at the level of junior management, where virtual recruitment has made it easy to jump ship.” The survey recently recorded that around 12 percent of employees were promoted in 2021, compared with 10 percent by 2020.
Nearly 12 percent of the companies have updated the bonuses or payment plans of their variables to harmonize their appreciation structures with changes.
In connection with recruitment, 78 percent of companies stated that they had begun to recruit at the same speed as they used before Covid-19.
About 60 percent of organizations renew their health insurance policies because organizations Covid-19 and 24 percent adapt to their life insurance policies.
In addition, almost two of every three organizations adjust their leave policy and introduce special leaves 14 to 21 days, above and above the annual paid leaves regularly.
As far as the office concerns to the office, only 25 percent of companies have conducted employees’ preference surveys to decide on their return to work strategies.
In most cases where such surveys are done, employees seem to prefer hybrid work settings (a combination of work from home and office, wherever it is feasible).
However, at the entire level of India, only 40 percent of the organizations have completed their return to work strategies.
“Previously, the organization used to decide who could work from home; they now decide who can / must work from the office.” While the hybrid model seems to be the preferred choice, there are important questions about the health and safety of employees, flexibility and choice, governance, data security, business continuity, collaboration, teamwork, and culture that need to be carefully thought out before completing a strong work strategy for Work, “Ghose added.