The salary of better performing employees can be increased accordingly and the salary of average performing employees can also be increased accordingly.
Salary Hike. There is great news for the employees working in the private sector (Employees Salary Hike 2022). This year 2022, the salary of employees can be increased by 8 to 12 percent. This has been disclosed in Michael Page Salary Report-2022.
If media reports are to be believed, according to the Michael Page Salary Report 2022, an average increase of 9 percent can be done in the salary of private sector employees in 2022. However, this increment will be done on the basis of the performance of the employees. This means that the salary of the better performing employees can be increased accordingly and the salary of the average performing employees can also be increased accordingly.
According to media reports, it has been said in Michael Page Salary Report-2022 that the normal salary hike is likely to be 9 percent, while startups and new age companies in association with unicorns will pay their employees. The highest i.e. average salary can be increased by 12 percent. Apart from this, the salary of employees in banking, financial services, real estate, construction and manufacturing sectors can also be increased.
The Michael Page Salary Report 2022 is based on proprietary data and information and facts derived from the network. This report ranks job advertisements and placements done in 2021, including salary projections for 2022. It says companies now have short-quarter or semi-annual-evaluation cycles, promotions, variable pay , with various offers including stock incentives, retention bonuses and mid-term salary hikes, plans to retain the better performing employees in the company.
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