Companies will give priority to high skill talent
Rajul Mathur of Willis Towers Watson said that business optimism is now visible in India after the Kovid-19 crisis, but it is yet to have its full impact on salary increases. Mathur further said that companies will give priority to high skill talent with less budget as compared to last year and more emphasis can be placed on payment on performance basis.
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Which sector employees’ salary will increase the most
According to the survey, 20.6 percent of the salary increase is being done on an average, representing 10.3 percent of the employees in India. The survey further states that for the year 2021, the average salary at the executive level is expected to increase by 7 percent. The report expects a salary hike from Hitech and consumer product firms, but only business process outsourcing.
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In the energy sector, the survey said that hightech, pharmaceuticals and consumer products and retail projects can grow at an average wage increase of around 8 per cent, which is higher than the normal industry growth. At the same time, the financial services and manufacturing sector is projected to grow by 7 percent, while it is 6 percent in the BPO sector. The lowest growth in the energy sector is expected at 4.6 percent.