Salary hikes to be higher at 10%: Study - Times of India

Salary hikes to be higher at 10%: Study – Times of India

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NEW DELHI: Employees in India can expect a higher salary hike this year compared to 2021, as businesses shift focus beyond the pandemic towards a growth agenda. At 9. 99%, India is projecting the highest salary increase among BRIC nations (Brazil at 5%, Russia at 6. 1% and China at 6%) and developed economies, despite a tough few months with the second and third waves of infections. In 2021, the average salary increment was 9. 3%.
Participants in the AON Salary Increase survey, however, reported the highest attrition figure — 21% — in over a decade in 2021. “Salary increases should come as a welcome break for employees amid a volatile period. For employers, it could emerge as a double-edged sword when you combine the rising cost of talent with record-high attrition,” said Nitin Sethi, partner & CEO of Aon’s Human Capital Solutions in India.
The industries with the highest projected salary increases include IT-enabled services and life sciences.



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