Average 10% SALARY HIKE likely in 2022 - IT, Pharma, FMCG, Logistics, Auto sectors to take the lead, finds this Survey

Salary hike: Despite the shock of the second wave of the coronavirus pandemic, Indian companies have shown great combative ability. A survey has said that Indian companies will increase the salaries of their employees by an average of around 10 percent in 2022.

According to the Aon's 26th Annual Salary Increase Survey, most businesses have an optimistic view going into 2022, with 98.9 percent of companies intend to give salary increases in 2022, as compared to 97.5 percent companies in 2021.

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As per the report from the 8.8 percent salary increase in 2021, the projected salary increase for 2022 is 9.4 percent. However, during this period around 20 percent people will switch their jobs in search of growth.

In 2021, around 45.4 percent companies registered good growth while in 2022 the growth percentage is expected to increase to around 61.9 percent. The reason behind this is that companies have invested in work from home model seeing the coronavirus situation.

2022 में इंप्लाइज का अच्छा होगा अप्रेजल...कंपनियां औसतन बढाएंगी करीब 10% सैलरी।#AapkiKhabarAapkaFayda में आज देखिए 'मिलेगी नौकरी, बढ़ेगी सैलरी' https://t.co/pm9DUevl3G

— Zee Business (@ZeeBusiness) September 7, 2021

Which sector will give maximum hike?

As per the survey, Companies related to IT sector will give maximum appraisal of around 11.2 percent to its employees in 2022 followed by professional service and e-commerce sector with 10.6 percent.

Pharma, FMCG, logistics and auto sector will give appraisal of around more than 9 percent to its employees while manufacturing, infra and chemical sector will give around more than 8.5 percent hike.

Companies belonging to retail, telecom, financial institution sector will give a hike of around 8 percent while energy sector will give around 7.5 percent.

Speaking on the topic Roopank Chaudhary, partner in Aon's human capital business said that there are several reasons behind this rise in salary of employees. Talking about the economic positive sentiment he said GDP growth has been seen, manufacturing index is good, economic fundamentals are nice and markets have also performed nice in last few months.

Apart from this pent-up demand, strong outlook of 2022 because companies are fully prepared to fight the third wave of the virus and increase in demands of technical and digital skills are the main reasons, he added.

Meanwhile, Sunil Goel, Global Hunt MD said that after V shape recovery, W shape recovery is going in such a swing that we are skill provider for the global market. He added that if we see with the demand perspective then the numbers are more at actual ground level.