Salary Hike In 2023 : After the Covid epidemic, where the effect of recession is more or less visible and the period of layoffs is going on, on the other hand Indian companies seem troubled by the employees leaving their jobs. This is the reason that in view of the large number of employees leaving one job and joining another job, companies in India can increase salaries by 10.4 percent in 2023.
Companies in the country can increase the salaries of employees by 10.4 percent in the year 2023 amid expectations of strong performance in their business. According to the latest survey of wage growth in India by global professional services company AON Plc, salaries are expected to increase by 10.4 percent during 2023.
This figure is higher than the estimate of 9.9 percent increase in February salaries. At the same time, there was an increase of 10.6 percent in the salary during 2022. Under the study, data of 1,300 companies from more than 40 industries in the country has been analyzed. It said that the job loss rate in the first half of 2022 stood at a high of 20.3 percent. Therefore, there is pressure on companies to increase salaries.
This rate is less than 21 percent in the year 2021. According to the survey, this trend is likely to continue for the next few months. R Choudhary, Human Capital Solutions Partner, Aon in India said, “Despite global challenges and high domestic inflation, India’s projected wage growth in 2023 will be in double digits.
