Organizations around the world are returning to business as earlier. And as businesses return to normalcy, the situation around emerging markets is warming.
The second phase of the Deloitte’s Workforce and Increment Trends 2021 survey is devoted to understanding India’s earnings, the impact of COVID-19 on benefit policies, and a return to organizational performance strategies. The first phase was launched in July 2021. In this publication, more than 450 organizations were divided into seven sectors and 24 sub-sectors participated.
According to the survey, the 2022 promotion will reach levels before the 2019 term.
The study also highlighted the sectors that will be leading the way in 2022. Next year, the Information Technology (IT) sector is expected to offer the highest increase, followed by the Life Sciences sector.
Among all the IT-tested sectors the sector is expected to expand the two-digit promotion. Digital / e-commerce companies can also offer some very high promotions.
While IT is leading the way in packaging, retail, hospitality, restaurants, infrastructure, and real estate companies continue to make some of the lowest rates that match their business potential.
According to a survey, about 12 percent of employees are promoted by 2021, compared to 10 percent by 2020. About 12 percent of companies have renewed their bonuses or various pay plans, making them in line with priorities.
While increments make big strides, companies are also at the lease level. 78% of companies said they had started hiring to return to pre-COVID-19 level.
