Salary Hike: It is estimated that there will be a higher salary increment in 2023 as compared to the year 2022. The news has come that companies in the country can increase the salary by 10 percent in the year 2023.
Salary Hike: If you are also employed then this news is for you and surely you will be happy after reading this news. Yes, the increment cycle of the year 2022 has been completed and every person employed is now waiting for the salary increase in 2023. Now the news has come that companies in the country can increase the salary by 10 percent in the year 2023. According to a report, companies are going through a difficult phase.
Employers raise the budget for salary incrementsÂ
A report by Willis Towers Watson, a global consultant, broking and solution service provider, found that companies in India are arranging for a 10% wage increase during 2022-23. The actual wage increase in the previous year was 9.5 per cent. According to the report, more than half (58 percent) of employers in India have budgeted for higher wage hikes for the current financial year than last year.
25 percent did not change the budget,
A quarter (24.4 percent) did not change the budget. The report said that compared to 2021-22, only 5.4 percent have reduced the budget. According to the report, the highest salary increase in the Asia Pacific (APAC) region will be in India. Next year, China will increase wages by six percent, Hong Kong and Singapore by four percent. The report is based on a survey conducted in 168 countries in April and May 2022. Talked to 590 companies in India.
