Indian firms dole out double-digit hikes, most employees satisfied

Indian companies have awarded generous increments of more than 10 per cent this year, The Economic Times (ET) has reported. The report cited a survey that said employees in the country received generous hikes despite a tough start in 2023 that saw large-scale layoffs.

Six in 10 people surveyed by Naukri.com received double-digit increments. A fraction of employees surveyed even got hikes up to 20-25 per cent for their exceptional performance, most of these employees worked at entry-level positions, the report said.

As a part of the survey, more than 200,000 responses were collected. Among these, 56 per cent of the respondents said that their companies followed the April-March appraisal cycle.