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India Inc set to continue with pre-pandemic level increments in 9-9.5% range: Mercer

After having grappled with the impact of the Covid-19 pandemic, cost deferrals and reduction measures to ensure business continuity, most companies last year reverted to pre-pandemic levels of investment in rewards and incentives after a dip in 2020. This trend is set to continue this year amid cautious optimism, according to the Mercer Total Remuneration Survey

Source | economictimes.indiatimes.com |  Brinda Sarkar, ET Bureau

Organisations across the board are set to continue with pre-pandemic level increments in the range of 9-9.5%, finds a new survey.

After having grappled with the impact of the Covid-19 pandemic, cost deferrals and reduction measures to ensure business continuity, most companies last year reverted to pre-pandemic levels of investment in rewards and incentives after a dip in 2020. This trend is set to continue this year amid cautious optimism, according to the Mercer Total Remuneration Survey.

Industries like manufacturing, consumer and retail, chemicals and automobiles have reverted to pre-pandemic increment levels, according to the survey, which was conducted across 1,300 companies covering 17 lakh cumulative employee strength.

Disruptions in global supply chains and the launch of the ‘Make in India’ programme by the government have given a fillip to the manufacturing sector, while growth in India’s consumer market, primarily driven by a favourable population composition and increasing disposable income, as well as the emergence of e-commerce, have augmented the retail sector. Further, India’s strong position in exports and imports of chemicals at a global level will lead to growth of the chemicals industry.

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Source
economictimes.indiatimes.com
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