The Economic Times - It is that time of the year when questions about inflation and possible salary increases taking precedence over other things for employees. Detailed studies by Aon, a consultant show the possible thinking within companies' leadership while finalisiRead moreng their salary increase strategies.
Multiple reports from Aon to Korn Ferry paint an overall average/median salary increase of around 10% in India this year, which is relatively higher than what is being planned in countries such as the US and Germany.
Korn Ferry survey has predicted an overall hike of 9.8%, with a possibility of higher increments in sectors such as life sciences, healthcare and high tech.
The Aon Survey said that the top paying sectors this year would be ecommerce, tech platforms and products, global capability centres, tech consulting, services and financial services. FMCG is another area it was bullish about.
The two years of the pandemic and the remote and hybrid working models it introduced have added to the complication when looking at factors like inflation in salary adjustments.
There are other considerations as well - gender pay parity, possible impact on jobs and salaries from attrition, emerging trends such as quiet quilting, moonlighting and also the increase in freelance or gig work.
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