Some digital / e-commerce players are also planning to give good increments. The IT industry is seeing a strong demand from global customers who are embracing digital technologies more than ever before.
GDP forecasts for FY 2021-22 were revised down after the second wave and we expect organisations to closely watch similar developments while managing their fixed cost increases next year.” The IT sector is expected to offer the highest increments, followed by the life sciences sector. Some of the survey respondents have also just closed their 2021 increment cycle, so 2022 increments are a fair distance away for them. Anandorup Ghose, partner, Deloitte Touche Tohmatsu India, said, “While most companies are projecting a higher increment in 2022 compared to 2021, we continue to operate in an environment where Covid-19 related uncertainty persists, making it harder for companies to forecast. Deloitte's latest report surveyed over 450 organisations across seven sectors and 24 subsectors. Only 60% of companies had extended a pay hike last year. The survey found that 92% of companies gave an average hike of 8% in 2021, compared with only 4.4% in 2020.
A quarter of the companies surveyed have projected a double-digit hike. The increments match the pre-pandemic levels of 2019. BENGALURU: Bengaluru: The average salary increment in India is expected to be 8.6% in 2022, buoyed by improved business confidence, says Deloitte’s Workforce and Increment Trends survey.
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