The Salary hike you can expect next year: Deloitte survey

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Deloitte stated earlier this month that India has emerged as a desirable investment location for developed economies. Despite economic disruption caused by the Covid-19 outbreak, India received a record $81.72 billion in foreign direct investment (FDI).

When the coronavirus disease (Covid-19) pandemic struck, it devastated the world economy, resulting in the closure of hundreds of businesses, the layoff of thousands of people, and the halting of economic growth. The entire world has been waiting with baited breath for businesses to reopen and the situation to improve during the previous two years.

That began a year ago, and many countries’ economy have gradually begun to recover.

Now, a poll of India Inc. has found that the average annual growth for 2022 is predicted to increase to 8.6 percent, in accordance with the recovery of the economy and increased confidence. This will bring the total back to pre-pandemic levels in 2019.

According to Deloitte’s Workforce and Increment Trends study for 2021, 92 percent of businesses increased pay by an average of 8% in 2021, up from 4.4 percent in 2020, when just 60% of businesses increased pay.

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Additionally, it stated that almost 25% of organisations questioned anticipate a double-digit increase in 2022.

The survey, which began in July, targeted seasoned human resources (HR) experts. According to Deloitte, this edition attracted around 450 organisations from seven industries and 24 subsectors.

According to the report, the information technology (IT) sector is anticipated to deliver the biggest wage increases, followed by the life sciences sector. Retail, hospitality, restaurant, infrastructure, and real estate firms continue to forecast some of the lowest growth rates in keeping with their business fundamentals, it noted.

Deloitte stated earlier this month that India has emerged as a desirable investment location for developed economies. It stated that 44% of 1,200 global business leaders based in the United States, the United Kingdom, Japan, and Singapore intend to increase or initiate investments in the country.

Despite economic disruption caused by the Covid-19 outbreak, foreign direct investment (FDI) inflows into India reached a record $81.72 billion, a 10% increase over the previous fiscal year, the business claimed in the report, ‘India’s FDI opportunity.’

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