India Inc starts hiring at 2019 pace; set for 8.6% increment

Deloitte survey shows 78% firms recruiting at pre-pandemic level

More than two-thirds of India Inc recruiters believe they have returned to the pre-pandemic level of hiring. In the latest edition of the Workforce and Increments Trends Survey by Deloitte, almost 78 per cent of companies said they had started recruiting at the same pace that they had experienced before Covid struck.

In line with improvement in business sentiments, the survey reveals that the average annual salary increments are expected to touch pre-pandemic levels of 8.6 per cent in 2022, up from 8 per cent estimated for 2021. About 25 per cent of companies surveyed have projected a double-digit increment in 2022, the report noted. And, top performers can expect 1.8 times the increments given to average performers, the survey found.

The hiring trends reveal wide variations across sectors. Around 96 per cent of tech companies said they were hiring at least as much as pre- Covid levels (2019). But, the corresponding number for services is only 48 per cent as per the survey results. For consumer products and manufacturing sector, the figures are 73 per cent and 77 per cent, respectively.