This year, Indian companies are expected to increase employee salaries by an average of 7.7 per cent. However, a good worker can get a salary increase of up to 60 percent. This was stated by global professional services firm Aon in a survey on salary growth. In 2020, Indian companies increased salaries by an average of 6.4 per cent.
According to the report, salaries of employees in major countries such as Japan, the US, China, Singapore, Germany and the UK are expected to increase by an average of 3.1 to 5.5 per cent. Which is less compared to India. Speaking of sectors, e-commerce and venture capital firms will increase the salaries of their employees by up to 10.10 per cent. This is followed by tech companies with an average of 9.7 per cent, IT companies with 8.8 per cent and entertainment and gaming companies with 8.1 per cent.
Chemical and pharma companies will also give 8% growth to their employees. The report said that the professional services sector could increase its salaries by 7.9 per cent and the financial institution by 6.5 per cent this year. Data has been collected from about 1200 corporate houses for this survey. According to the survey, sectors like hospitality, infrastructure, retail and engineering services have been most affected by Corona. In such sectors, the salary may increase by an average of 5.5 to 5.8 per cent.
The survey report found that 93.5 per cent of organizations expect to see good business in 2021. This will allow them to increase the salaries of their employees. While 6.5 per cent feel that their business may not perform well this year as well and they will have to face some challenges to increase the average salary of employees. Sixty per cent of organizations believe their situation is improving and they could increase their employees’ salaries by 9.1 per cent this year. The survey report also said that employment would increase this year.
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