New Delhi: Apart from the Covid-19-second wave that hit a harsh nation, Indian organizations have shown resilience, and salary increases are being projected to grow from an average of 8.8 percent this year with an average estimate of 9.4 percent in the year 2022, according to the survey.
According to the 26th annual salary increase in Aon released on Tuesday, most of the business had an optimistic view of 2022, with 98.9 percent of the companies intend to give a salary increase in 2022, compared to 97.5 percent of companies in 2021.
Sentiment in most sectors, and India Inc.
strongly on the road to recovery, with most companies that projected a salary increase to the FY 2019 level by TA 2022.
“This is a strong indication of health and buoyancy in the economy.
There is something clearly uptick, Of the 6.1 salary increase in 2020, we have risen 8.8 percent actual in 2021 and the increase in salary projected for 2022 was 9.4 percent, which was equivalent to the pandemic number that we have seen in 2018 and 2019, “said Roopank Chaudhary , a partner in the AON human capital business.
The survey has noted that the pandemic has accelerated digital travel for the organization and this has led to an unprecedented war for digital talents in the short term and encourages salary increases and cross-sectoral friction numbers.
Business must redefine their talent strategy to compensate for war for talent, Chaudhary said.
Chaudhary further notes that most Indian organizations, in the traditional and non-traditional sectors, invest in digital capabilities to maintain growth momentum and disturb their industry.
“Employees with the most successful digital and technology skills in 2021, as we see the highest salary increase for employees with these skills across these sectors.
We hope this trend will increase over time, because organizations have an increase in the need for this transformation of this business model They and build a formidable workforce, “Chaudhary said.
According to Nitin SETHI, AON’s performance and CEO of performance and business benefits in India, while 2021 is a year where certain sectors remain under pressure due to Covid-19 pandemic, most of the business has an optimistic view of 2022 and projects a higher salary to increase .
“We see positive sentiments in most sectors, high investor confidence with sustainable direct foreign investment that flows into the country and increases consumer demand in most segments,” Sethi said.
The top three sectors with the highest salary increase projected for 2022 for India are technology, e-commerce and services that support IT.
“Sectors such as Hi-Tech / Information Technology, e-commerce and professional services have projected more than 10 percent,” studies that analyzed data from 1,300 companies in 39 industries said.
The sector with the lowest salary increase projected for 2022 is hospitality, engineering and energy services.
While salary increases indicate a strong recovery, friction has soared by 20 percent, driven by buoyancy and demand and highlighting new war for talent.
“High-digit double friction is the strongest that we have seen in more than a decade.
War for back talent in India, which we anticipate will maintain a high salary increase.
Questions for companies that increase sustainably in the long run?” Sethi said.