87 per cent: The percentage of Indian companies planning pay hikes in 2021.

Business Standard
12th November

87 per cent: The percentage of Indian companies planning pay hikes in 2021.

  • According to global professional services company Aon's latest survey on salary trends in India, 87 per cent of the surveyed companies plan to give pay hikes in 2021.
  • This piece of news should bring cheer to many corporate employees who have suffered salary cuts this year. In 2020, the corresponding figure stood at 71 per cent.
  • The extent of salary hikes is also set to improve next year. Sixty-one per cent of the companies that plan to give salary increments will do so in the range of 5-10 per cent, compared to only 45 per cent in 2020.
  • Against an actual average salary rise of 6.1 per cent in 2020, the average salary hike in 2021 is expected to be 7.3 per cent.
  • The survey included 1,020 organisations spread across 20 industries.

Disclaimer: This information is from a third party—Business Standard—offered through a tie-up to Kotak Securities customers. Click here for complete disclaimer.

A few links for further reading

Insecure and uncertain in insurance business as Covid-18 damage claims mount

Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains

The unravelling

There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan

Quick approval, grace period

The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.

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