A recent survey by leading consultancy Deloitte Touche Tohmatsu India has revealed that companies doled out an average salary increment of 3.6 percent in the current fiscal compared to 8.6 percent in the previous financial amid the coronavirus pandemic.
The survey also showed that timing and potential impact of COVID-19 were the two most important factors that affected increments in 2020-21.
Only 4 of the 10 surveyed companies in India have given an increment in 2020 and 33 percent companies have decided not to give an increment at all.
The remaining organisations are still undecided. Consequently, for 2020, average increment at 3.6 percent is less than half the increment of 8.6 percent that employees received in 2019.