According to industry experts and a recent survey, the second wave impact seems muted with the green shoots visible across sectors. As per data, the actual average salary increments for 2021 across companies in the country was 7.9% as compared to 7.3%, which was the projection in March, from the Covid-19 impact and HR Trends’ survey by human resources consulting firm OmamConsultants.
Following the current scenario, HR and compensation experts consider higher increments due to various factors which involve the economy doing better on an overall basis. On the other hand, some companies also attempted for higher increment for making up with the last year’s non increment gap of employees, in particular sectors that are doing well during the pandemic and it is setting the new trends of life for corporate India.
With that companies have also looked towards the second wave as a humanitarian crisis, and many companies decided to support their employees morally and financially with an increment in the salary, as per the experts.