Indian companies can increase the salary of employees in the new year, know how much salary will increase
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New Delhi : There is a good news for the employees working in various companies of India. According to the latest survey report of Korn Ferry, in the year 2023, Indian companies can increase the salary of their employees. However, this increase in salary will be slightly more than last year. According to the news of the news agency Bhasha, Indian companies can increase the salary of their employees by an average of 9.8 percent in the new year 2023. This is slightly higher than the growth of 9.4 percent in 2022 last year.
Salary increase will be more for new talent
According to the latest survey report by Korn Ferry, this increase in salary by the companies for top and new talent will be much more. Companies are focusing on retaining critical and key talent through various talent management steps and compensation plans. The survey covered 818 organizations with over 8,00,000 employees. According to this survey, in 2023, the salary in India is estimated to increase by 9.8 percent.
6.8 percent salary hike was done in 2020
Let us tell that in the year 2020 affected by the Corona epidemic, the salary increase was much less than 6.8 percent, but the current growth trend reflects a strong and better situation. In line with India’s focus on increased digital capacity building, the survey forecasts growth in the life sciences and healthcare and high technology sectors at 10.2 per cent and 10.4 per cent, respectively.
6 percent increase in GDP expected
Navneet Singh, Chairman and Regional Managing Director, Korn Ferry, said that though there is talk of recession and economic slowdown across the world, but in the context of the Indian economy, the Gross Domestic Product (GDP) is expected to grow at six per cent. Its being done. He further said that the salary hike for key talents could be as high as 15 per cent to 30 per cent. Along with this, 9.8 percent for the service sector, 9 percent for the automobile sector, 9.6 percent for the chemical sector, 9.8 percent for consumer products and 9 percent in the retail sector are expected to increase.
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