Are Unreasonable Salary Hikes Becoming A Big Problem?
It is great to hear that employees in India can expect to receive higher salary hikes this year for putting in the hard work in 2021 amid WFH models and lockdowns. Businesses have now started shifting their focus beyond the pandemic toward an economy that is beginning to grow. The projected highest salary hike can be between 7.7% – 9.9% after several months of struggle with the 2nd and 3rd waves of Covid-19 infections.
But the best job placement consultants remind employees not to have unreasonable expectations about this news. You may be a top performer in your organisation, yet you can’t rely on getting the salary increase that you believe you deserve this year.
There are factors to be considered when asking for a raise, among them the following.
1. The employer’s overall financial situation and the budget allocated for the raise are on the employer’s part.
2. On the part of the employee, to be considered are your performance that has earned the company a good income, good attitude and work ethics, being proactive and being a team player.
However, some sectors like Ecommerce, Consumer Technology, Life Sciences and IT-enabled services are exemptions, and they can grant double-digit hikes. These are the industries that have the highest projected salary increases. It is worth noting that the demand for skilled technical professionals has gone up by almost 300 percent. And they did not slow down even at the height of the pandemic.
However, it does not mean to say that the non-IT industries do not deserve big hikes, especially today when things seem to be getting better. The internet recruiting agency in India sees sectors of IT, Banking, Financial Services, and Insurance are getting ready to hire many people, and those employees who have been with the company throughout the volatile period can expect to receive reasonable pay hikes.
The technical transformation of every sector is starting to rise after almost 2 years of waiting and watching. Now you can see that the hiring system trends before the lockdown are beginning to return, and with this, the return to the pre-Covid economy.
When you file your application for employment, you should have a clear salary in mind based on your industry sector and job description. This is the same when you are expecting a salary hike. Consider what you have done for the company during your years of service. Also, you must remember that compensations and salary hikes differ by state and the size of the company. Big companies have the resources to invest in the best talents and to award deserving employees with big salary increases.
These are the best times for you to juggle job offers and negotiate with them big time. However, these are for you who have the right skills, and who are in the right position, and the right company.
Suppose you are a valued employee working for a company, and you get an offer from a competitor organisation. In that case, your company will surely spend top dollars to retain you. This also shows up when one speaks with people in the recruitment faculty, complaining of unreasonable salary increases, shortages, and a high level of attrition, the voluntary and involuntary employee departure from a company for an unending number of reasons.
Get a free consultation with UpMan Placements. We offer outsourcing recruitment services, and we have faith in productive and positive teams, which make us the top internet recruitment agency in India.
People are the most significant assets (and costs) of all businesses. When well- managed, you will benefit from increased profits and happier employees and customers as well. We can help you recruit, train and retain the most qualified people for your organisation.
For your business problems, we can give you commercial, sympathetic and expert advice from the best brains in the industry. When times get tough, we will still support you.
If interested, call us at 91-982 5218633 or email us at email@example.com for a discussion. You can find current job openings in Ahmedabad with us. We do not charge exorbitant rates as fees, and we’ll ensure that both you and your employer are happy with each other. So take the plunge and contact us today!!!