CHENNAI: Coming back as pay hike India Inc. Budget for the year 2022 on the back of economic recovery and a large increase compared to the current year amid higher workforce.
Salaries are projected to see an average increase of 9.3% (8.8%) in 2022 compared to the actual average Salary According to a report by advisory firm Willis Towers Watson, 8% growth in 2021 (average 7.4%). In 2019 (pre-Covid), the actual wage increase was 9.9%.
Taking inflation levels into account, the workforce is likely to see a 4.8% ‘real’ wage increase (wage growth-inflation rate) for 2022, as against India Inc’s real growth of 4.2 percent in 2021.
The average increment cannot be pulled higher or lower by the values at the extreme ends of the distribution and is therefore considered a better measure.
Employees can expect a higher average variable pay for their job performance in the year 2020 at 15.7%, while they were paid 12% in 2020 (based on 2019 performance)
India’s projected salary increase has the highest Asia Pacific For the next year as optimism returns on a better business outlook over the next 12 months. Sri Lanka is projected to see growth of 5.5%, China 6%, Indonesia 6.9% and Singapore 3.9%.
The job loss rate in India, though high, is low as compared to other countries in the region. India’s voluntary mortality rate at 8.9% is lower than China’s 11.6%, Vietnam11.7% and Australia’s 9.4%.
Salaries are projected to see an average increase of 9.3% (8.8%) in 2022 compared to the actual average Salary According to a report by advisory firm Willis Towers Watson, 8% growth in 2021 (average 7.4%). In 2019 (pre-Covid), the actual wage increase was 9.9%.
Taking inflation levels into account, the workforce is likely to see a 4.8% ‘real’ wage increase (wage growth-inflation rate) for 2022, as against India Inc’s real growth of 4.2 percent in 2021.
The average increment cannot be pulled higher or lower by the values at the extreme ends of the distribution and is therefore considered a better measure.
Employees can expect a higher average variable pay for their job performance in the year 2020 at 15.7%, while they were paid 12% in 2020 (based on 2019 performance)
India’s projected salary increase has the highest Asia Pacific For the next year as optimism returns on a better business outlook over the next 12 months. Sri Lanka is projected to see growth of 5.5%, China 6%, Indonesia 6.9% and Singapore 3.9%.
The job loss rate in India, though high, is low as compared to other countries in the region. India’s voluntary mortality rate at 8.9% is lower than China’s 11.6%, Vietnam11.7% and Australia’s 9.4%.
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