Salary Increment: Great news for the employees. Indian companies can get an average increment of 10.3 per cent this year. According to a report, about 46 percent of Indian companies are ready to give double digit increments.
The financial year is about to end and with this the companies have also started the Increment Process. Now the question before the employees is that how much salary will increase this year. Some agencies conduct surveys every year and issue predictions about increments.
According to professional services firm Aon India, Indian companies are likely to get an average increment of 10.3 per cent this year. This would be a good salary hike amid concerns of a global recession. Aon said companies want to retain talent.
“Employee turnover of 21.4 per cent, a change in talent strategy and a demand gap in the supply chain have led companies to post double-digit increments,” said a study by Aon India.
Certain concerns complicate increments –
Rupak Chaudhary, Partner, Human Capital Solutions (India) at Aon, said in an interview, “Increasing economic uncertainty and concerns of economic volatility have complicated salary increase planning this year. Indian companies have made good increments for the last two years. This has left some companies grappling with high wage bills. At the same time, there was no increment in the years 2020 and 2021 due to the Corona epidemic.
46% companies ready to give double digit increment –
According to Aon report, about 46% Indian companies are ready to give double digit increment. In the year 2022, the companies had given an average increment of 10.6 per cent. In this study, the data of about 1400 companies from more than 40 industries has been analysed. According to the survey, companies related to technology platforms and products will make an average increment of 10.9 percent this year. The focus of the companies is that talented people should not leave the company.
Flipkart will not give increment to 30% of the employees –
On one hand there is news of increment, on the other hand the news of stopping increment is also coming to the fore. Flipkart will not increase the salary of 30 percent of the high level employees. The company took this decision in view of the current economic conditions. About 4,500 employees will be affected by this decision. The company has not increased the salary of senior employees i.e. grade 10 and above level employees.
