Salary Hike: These days the corporate sector is busy planning to give increments to its employees. A report has come out on this, reading which you can be happy.
Salary Hike: After 2 years of troubled times of Corona epidemic, now the situation is slowly getting better. The corporate sector is also now planning to give increments to its employees. According to the report, this year companies can give good increments to their employees.
Salary can increase up to 9 percent
Looking at the boom in the business sector, it is believed that this time companies can give 9 percent average hike to their employees. This is 2 percent more than the 7 percent average hike given before the corona epidemic started in the year 2019.
In Startups, New Age Corporations and Unicorns also, employees can get a bumper salary hike this year. There is a possibility that they may get an average salary hike of 12 percent.
Michael Page India released the report
International Specialist Recruitment Group Michael Page India has released this report. According to the report, high-performing employees in companies can expect a salary hike of 20-25 percent or more this year.
According to the report, employees engaged in the banking and financial services industry, property-construction field can also get a good salary hike this year. Professionals working at the senior level in the computer science sector are going to be the most profitable this year. They can get good salary hike in their respective companies. The reason for this is that the business of e-commerce in India is growing rapidly and all the sectors are engaged in digital transformation of their business.
Business sector mood positive
Ankit Agarwal, Managing Director, Michael Page India said, “Overall the mood of the corporate sector is positive this time. There is a general feeling that the pandemic is now being left behind. There is also a boom in the hiring market. All the companies are competing against each other to hire the best talent.
He said that due to increasing job opportunities in the market, lack of talent and increasing desire to recruit good employees in companies, salaries are getting high.
GDP will grow at the rate of 8.7 percent this year
He told that in the financial year 2021-22, the Indian economy has grown at an estimated rate of 8.3 percent. At the same time, for the financial year 2022-23, the economy is estimated to grow at the rate of 8.7 percent. Especially in the manufacturing and infrastructure sector, the maximum growth is expected.
Data scientists (especially those familiar with machine learning), web developers and cloud architects will be in high demand, especially if they have a bachelor’s degree or master’s degree from a top-rated university.
These technologists will be in more profit
If we talk about the job sector, then data scientists, web developers and cloud architects will be in most demand. Those who have completed master’s or bachelor’s degree in these courses from a top rated university will have more chances of getting a good paying job.
It has been said in the report that this time technologists will get more salary hike as compared to professionals. Even if their educational qualification level is almost the same.
New system can be started in companies
Not only this, companies are now also considering introducing a quarterly or half-yearly increment system to retain their top performers. These may include mid-year appraisal cycles, promotions, variable pay-outs, stock incentives, bonuses or mid-term increments.
It has been said in the report that the employers are now assuming that the corona epidemic is almost over now. Also, this epidemic will no longer have any adverse effect on the market. With this positive thinking, she is now making a business plan for the future.
