As the economy moves to a recovery path after a sharp decline last year amid the pandemic, a study has shown that 59% of companies in India are intending to give salary increments to their employees in 2021. According to staffing company Genius Consultants ‘10th Hiring, Attrition and Compensation Trend 2021-22’, with this impressive growth rate, the market is expected to be stable, and the companies will also relook at their business continuity strategy along with strengthening the workforce.
This year, the increment scenario seems “welcoming with 59% of companies saying that increment is on the cards, which will range between 5-10 per cent whereas 20%thinks increment will be less than 5% and around %thinks that there will be no pay rise in 2021 too”, as per the study.