According to MoneyControl.com, a salary increase survey by professional services firm Aon showed that India Inc is likely to offer a 7.7% salary increase in 2021. Eighty-eight percent of the companies surveyed report their intention to raise their salary in India in 2021. ..
Some companies are seeking salary cuts and have paid a freeze during the pandemic.
Moneycontrol.com reported that the average hike in 2020 was 6.1% and 75% of businesses offer hiking. Since 2012, salary increases in India have been declining. In 2020, Covid-19 saw the sharpest drop to 6.1%.
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According to a report, according to Aon’s research, companies backed by e-commerce and venture capital in the sector offer the highest salary increase of 10%, and hospitality / restaurants offer the lowest salary increase of 5.5% in 2021. Offers.
The survey analyzed data from 1,200 companies in more than 20 industries.
Nitin Sethi, Aon’s performance and compensation business partner and CEO in India, said he hopes the organization will consider compensation budgets in the second half of this year once the exact financial impact of labor law is known. It was.
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“If an organization chooses to pay a higher fund contribution to the new definition of wages, some of the salary increases may not lead to an increase in employee cash on hand,” he added. ..
Despite the tough 2020 with a tight blockade, India continues to predict the highest salary increases in the BRIC countries.
Roopank Chaudhary, a partner in Aon’s human capital business in India, said in 2021 the highest-paying sector will continue to be from last year. These include IT, ITeS, Life Sciences, E-Commerce and Fast-moving Consumer Goods (FMCG).
“It’s worth noting that the COVID-19 negatively impacted sectors, such as retail, hospitality and real estate, are forecasting a healthy increase in the range of 5-6%. These numbers are relevant. It reflects the intention to maintain and control the decline. It was increasing in these industries last year. “
Aon Survey reveals that India Inc will offer a 7.7% salary increase in 2021
Source link Aon Survey reveals that India Inc will offer a 7.7% salary increase in 2021