Increment

Average increments to drop to 9.1% in 2023 across sectors: Deloitte Report

Average increments are likely to drop to 9.1 per cent this year in almost all sectors following inflation, higher interest rates and a slowdown in the economy, according to a study. The average increment in 2022 was 9.4 per cent, Deloitte India Talent Outlook 2023 stated on Wednesday. The study found that in 2023 increments are expected to be lower across almost all sectors, compared to 2022 actual increments. While the Life Sciences sector is expected to witness the highest increments in 2023, the IT sector will likely witness a major drop in increments as compared to last year, the study said. Additionally, attrition in India reached 19.7 per cent in 2022, up from 19.4 per cent in 2021, it stated. "The significant attrition levels across industries in late 2021 continued until early 2022. We saw Indian organisations budgeting the highest increment in 2022 over the last four years. What they also did was hire aggressively. This led to employee costs rising faster than revenue gro

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TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

Salary hikes at companies inching closer to pre-Covid levels: Report

E-commerce and tech start-ups, healthcare, and allied industries plan salary hikes of more than 10 per cent.

Deloitte survey pegs average salary increment in India at 8.6% in 2022

Early estimates peg the increase higher than 8% in 2021, 4.4% in 2020

Aon Survey projects 9.4% avg salary increment in 2022, up from 8.8% in 2021

The top three sectors with the highest salary increase projected for 2022 are technology, e-commerce, and IT-enabled services

Survey shows 59% firms in India intend to give salary increments in 2021

A study has shown that 59 per cent of companies in India are intending to give salary increments to their employees in 2021

India Inc expected to dole out 7.3% average increment this year: Survey

As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year

More employees being rated poorly as firms cut back on increments: Survey

Only four in 10 companies ready for give staff a pay hike, says Deloitte Touche Tohmatsu India

Weak market, low salary budget to keep average increment flat at 9.7%: KPMG

Says e-commerce reported highest increment of 12.5% and logistics reported lowest at 8.1%

No annual increment for non-performing employees: Govt

The benchmark for performance appraisal for promotion and financial upgradation has been enhanced to 'very good' from 'good' level