Salary Hike In India 2021: 59% Companies Considering Hike Despite All Odds [STUDY]

Must Read

Hands-Free Resources: How Businesses Are Using AR to Make Workplaces Safe and Productive

The role of efficiency and ease in the modern world has become forefronted when it comes to technology, particularly...

Top Countries by App Downloads Q2 2021: India Dominates With 7 Billion+ Downloads [REPORT]

As the adoption of smartphones and the Internet has increased over the last decade, so has the number of...

TikTok Is Now The World’s Most Popular Non-Facebook App With Record 3 Billion Downloads!

When you think of the world's most popular apps, the first name comes into your mind: Facebook. If not,...

After a pandemic-ridden 2020, which wrecked the Indian employment scenario, the economy is finally headed toward recovery.

According to a recent report by Genius Consultants, a staffing company, 59% of companies in India are planning to provide much-needed salary increments to their employees in 2021.

The report titled “10th Hiring, Attrition and Compensation Trend 2021-22” reveals that 59% of companies believe the increment on cards will range somewhere around 5-10%, whereas 20% believe it will be less than 5%. And 21% of firms seem to hold the opinion there will be no pay hikes at all this year.


This online study conducted by Genius Consultant saw participation from a whopping 1,200 companies during February-March across sectors such as banking and finance, construction, engineering, education, HR solution, IT, ITES, BPO, logistics, FMGC, oil and gas, pharma, power and energy, real estate, retail, telecom, media, and manufacturing.

The nationwide conducted study further revealed that close to 43% of survey participants have reported about the availability of new job openings, 41% indicated towards replacement hiring, while 11% said that there is no scope of fresh hiring in 2021.

According to Genius Consultant’s findings, it is the southern Indian job market that will lead to new employment opportunities by making up for 37% of hiring, whereas the west zone will follow with 33%. What more?

The study also found out that Indian companies are currently thinking about strengthening their workforce. 21% of companies have said they are planning to increase their team strength by more than 15%, whereas 26% said they would add 10-15% new employees to their companies. 23% of survey respondents said that there would be no hiring at all.

Now when it comes to downsizing or layoffs, a mere 4% said that layoffs are on the cards this year as well. The study also pointed out that those employed in junior levels are going to be more susceptible to it than those in middle and senior management.


And lastly, the report highlighted how, with the new ‘work from home’ model in place, if there have been any changes in employee productivity. Close to 33% of survey respondents said they observed no change whilst adopting WFH, whereas 37% said they found fluctuations in productivity.

All in all, it is well understood that 2021 will pan out to be a far better year than 2020. The study said that Indian companies would hire more mid-level employees followed by freshers or those who have a lesser experience.

There is no doubt that India Inc is recovering extremely quickly R P Yadav, Chairman and Managing Director, Genius Consultants, said that Indian companies are showing a lot of interest towards ramping up hiring in 2021 backed by GOI’s favorable policies which encourages the private sector to get back on the growth trajectory

We will keep you updated on all future developments. Until then, stay tuned.


Please enter your comment!
Please enter your name here

Latest News

A Big Blow To Amazon and Flipkart: CCI Investigation To Continue

Flipkart and Amazon continue to find themselves in hot water as their plea against the investigation that is being...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This