The report said that the job loss rate in India has also been lower as compared to other countries in the region. In this case, both voluntary and non-voluntary, this rate has been seen less in India.
New Delhi: After the slowdown due to Corona Pandemic, better salary increase is expected in India in the coming time. According to a report, India is projected to have a salary increase of 9.3 percent next year, and the special thing is that the country will be the highest paying country in the Asia Pacific region.
8% increase over 2021
The latest report by advisory, broking and solutions company Willis Towers Watson shows that this will be an increase of 8 percent compared to 2021. India is followed by Sri Lanka (5.5 percent), China (6 percent), Indonesia (6.9 percent) and Singapore (3.9 percent) for the highest salary hikes for 2021 in the Asia Pacific region.
3 times more vacancies
Pointing to an economic recovery, most companies in India (52.2 per cent) have forecast positive business revenue output for the next 12 months, up from 37 per cent in the fourth quarter of 2020. With the improvement in business scenario, the situation of jobs will also improve. It has been said in the report that 30 percent of the companies are preparing for new vacancies during the next one year. This is almost three times more than in 2020. The report said that the most important jobs in various sectors such as engineering (57.5 per cent), information technology (53.3 per cent), technical skills (34.2 per cent), sales (37 per cent) and finance (11.6 per cent) will see the maximum recruitment. . In these jobs companies will offer higher salary.
Reduced job loss rate
In addition, the report states that the job loss rate in India has also been lower than other countries in the region. In this case, both voluntary and non-voluntary, this rate has been seen less in India. In India, the voluntary rate in this regard has been recorded at 8.9 percent and the non-voluntary rate at 3.3 percent. Rajul Mathur, Consulting Leader India, Talent & Rewards, Willis Towers Watson, said in a statement, “The growth in Business Optimum is clearly translating into higher salary budgets and increased hiring activity. Looking at the way organizations are planning their people’s expenditure, it can be said that the pandemic has been a crucial moment.
Highest salary in hi tech sector
According to the report, the hi-tech sector is expected to see a maximum salary increase of 9.9 percent in 2022. After this, there will be a growth of 9.5 percent in the consumer products and retail sector and 9.30 percent in the manufacturing sector. On the other hand, the energy sector received the lowest real salary increase of 7.7 percent in 2021. The estimated salary of the energy sector in 2022 has also been estimated at 7.9 percent. This report is a half yearly survey. The survey was conducted between 1,405 companies across various industry sectors in Asia-Pacific during May and June, 2021. This year 435 Indian companies are participating in the survey.
