Salary Hike, Increment in India: Survey has revealed that companies want to retain talent. However, employees are expecting 10 to 15 percent increment.
Salary Hike, Increment in India: The season of salary hike has arrived in the country. The appraisal process has been completed in almost all the companies. Now the employees are eagerly waiting for their increased salary. Now a survey has revealed that companies are also ready to give increment of up to 12 percent this year. Companies want the morale of their employees to increase and they want to stay connected with them instead of looking for a new job.
You can get salary hike of 9 to 12 percent
This survey was conducted by Mint and Shine. It has been revealed that this year employees can get a salary hike of 9 to 12 percent. About 34 percent of the HR executives included in the survey have approved this figure. On the other hand, about 24 percent employees are expecting 10 to 15 percent increment. In the survey, about 24 percent employees are expecting a 20 percent salary hike. This has shown that the expectations of most of the employees do not seem to be fulfilled this year.
Companies are also positive about senior employees
Opinions of about 3000 HR executives and employees were taken in this report. This survey was conducted between January and March. In the survey, about 49 percent recruiters have given positive opinion regarding appraisal. There may be 6 to 8 percent increment in about 25 percent companies. Also, companies are positive about senior employees. It considers them as assets for the company.
Expectation of good increment despite slowdown
This report regarding good increment has come at a time when many Indian companies are avoiding giving jobs. Also, news of layoffs are coming from all over the world. Due to increasing use of technology, war environment in the world and other reasons, there is an atmosphere of sluggishness in the IT, startup and retail industries. Last year, there was an average increase of 9.7 percent in companies. In the survey, only 2 percent of the companies have said that they will give 0 to 2 percent salary hike.
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