Consultants are of the view that salary hikes over 10% are unlikely before 2024. Only after the entire population is vaccinated and an economic recovery is on in full swing will things look up on the salary front, they opine
Even if you’re a top performer, don’t count on getting a big hike in pay this year; the days of 15 percent and 20 percent hikes in salary at Indian companies are gone. With the economic slowdown — worsened by Covid — leading to cost pressures, human resource managers are putting away plans for major hikes.
First, the good news. You won’t be denied a hike for the hard work you’ve put in so far in FY21 amid the lockdown and work-from-home (WFH) shift. But HR consultants caution that employees must not have unreasonable expectations.
Source: Moneycontrol
