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At a time when job losses and salary cuts are the order of the day, guess it is too much to expect increments. Phase two of Deloitte Touche Tohmatsu India’s Workforce and and Increments Trends survey pretty much corroborates that.
According to their findings, only 4 of the 10 surveyed companies in India have given an increment in 2020 and 33 per cent companies have decided not to give an increment at all. Consequently, for 2020, average increment at 3.6 per cent — less than half the increment of 8.6 per cent that employees received in 2019, among the lowest in decades. Two important factors that have affected 2020 increments are the timing of increments and the impact of Covid-19. Organisations that had already decided their increments before the start of the lockdown in March 2020 had given a higher increment compared with others.Organisations expecting a decline of more than 20 per cent in revenue in FY 2020-21 due to Covid-19 gave much lower increments.
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