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Expectations of increase in the salary of workers in India (India Workers Pay Hike) have increased this year. This year 90 percent of the employees are expecting a hike in their salary. This information has been revealed in the ‘People at Work 2023: A Global Workforce View’ report of ADP Research Institute released on Monday.
expected increase in salary
Quoting a report by ADP Research, it has been said in a PTI news that 90 per cent of the employees in India have expressed the expectation of an increase in salary this year. About 20 percent of the employees involved in this survey are expecting a salary hike of 4 to 6 percent. On the other hand, 19 percent of the employees expect a 10-12 percent increase in salary.
Salary had increased so much last year
According to the report, there was an increase in the salary of 78 percent of the workers in India last year. Last year also there was an average salary hike of 4 to 6 per cent. According to the report, 65 per cent of the employees feel that even if there is no increase in salary this year, they may get merit bonus in the form of paid holidays or travel compensation.
Difficulties for high earners too
Rahul Goyal, Managing Director, ADP India, said that getting an increase in salary is becoming increasingly important, especially for those in the lower or middle income brackets. With the rising cost of living, the disposable income of people is being affected. This effect is so dominant that even people with high salaries are feeling it.
financial crisis facing people
Goyal said that people are struggling to meet the necessary expenses. They are facing these problems due to rising interest rates, rising rent and increased cost of food and drink. Because of this people’s expenditure on luxury has reduced and they are facing financial problems. He said that even though inflation has touched its high level, it will still take time to come down to a level where people will be able to manage it easily.
report prepared in this way
ADP Research Institute says that this report is based on a survey of 32,000 workers in 17 countries. These include 2,000 personnel from India. ADP is a leading human capital management solutions company headquartered in the US.
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