Next year, 87% of companies will give employees increments, although growth is unlikely

New Delhi, Sunday 8 November 2020

Concerned Indian workers may be relieved next year by the Koro crisis, with about 87 per cent of Indian companies raising their employees' salaries by 2021 and an average increment of 7.3 per cent, a survey has claimed.

Corona has laid off a large number of Capone employees this year, and wages have been slashed, although companies that have increased wages have given an average increment of 6.1 per cent.

This information has come out through the salary trend survey of professional services company Aon. The survey collected data from about 1,050 companies in 20 industry sectors. About 13 per cent of the companies surveyed said they would not raise salaries in 2021.

This year, in 2020, 28 percent of companies have increased their employees' salaries by 8 to 10 percent. Similarly, 16 per cent of companies have increased their salaries by more than 10 per cent this year.

There will be such an increase next year

In the survey, 32 per cent of companies said they would increase employee salaries by 8 to 10 per cent in 2021. Similarly, 15 per cent of companies said they would increase employee salaries by about 10 per cent in the coming year i.e. 2021.

According to the survey, many companies had already made increments before the Corona outbreak, which would lead to lower pay increases next year, so 33 per cent of the companies surveyed said they would make fewer increments in 2021 than in 2020. Can't hope to get a pay rise.

Navneet Rattan, Director, Aon, said that in FY20, most companies saw a 7 to 10 per cent increase in wages, while in FY 2021, there was only a 5 to 10 per cent increase in salary increments.