Companies in India are likely to give out an average increment of 7.3 per cent to workers this year in the midst of quicker than-anticipated economic recuperation and recovery in business and purchaser dependence, as per a survey.
The Workforce and Increment Trends Survey phase 1 by Touche Tohmatsu India LLP (DTTILLP) also showed that the average increment in 2021 will be more than 4.4 per cent as seen in 2020 but lower than 8.6 per cent given by companies in 2019.
Of the 92% of companies that participated in the survey, plan to give an increment in 2021 while only 60 per cent gave an increment in 2020.
“Only digital and e-commerce companies are expected to offer double-digit average increments in 2021. Increments are likely to be the lowest in hospitality, real estate, infrastructure, and renewable energy companies,” the survey said.