Corporate India handed over an average increment of 8 percent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 percent in line with a healing economy and improving confidence, according to a Deloitte survey.
As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 percent companies gave an increment in 2021 at an average of 8 percent, compared with only 4.4 percent in 2020, where just 60 percent companies had extended a pay hike.
For 2022, average increment is expected to increase to 8.6 percent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 percent companies surveyed have projected a double-digit increment for 2022.
The 2021 Workforce and Increment Trends survey was launched in July 2021. The primary audience for this survey were seasoned HR professionals. More than 450 organisations participated in this edition spread across seven sectors and 24 sub-sectors.