Salary Increment with Transfers – Companies Decision to Decrease Attrition. For the past two fiscal years Information Technology- IT companies provide salary increment to their workforce. Now there is an expectation of decrement in the salary increment like the last two years. To avoid the raise in expenses companies took this decision. To know more details related to this issue stay tuned with us.
For the periods before the Corona, from a range of 12 percentages on average to an estimated 9 percentages hike will mark a return. As per the analyst’s report while critical roles will stay in demand, the massive 70-80% hikes doled over the last few months will also taper off. The increase varied between 30% and 70% and in some cases, even 100 percentages.
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As per the experts report, “Predominantly, digital skills were the ones where we saw salary levels hitting the roof due to the talent war and they will be the one which will stabilize in the near term, while salary levels overall across the industry settle in the next couple of quarters. This would eventually result in normalization of salary hikes across the tech space bringing it to the pre-Covid levels (9.4% as per industry experts)”.
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