2022 Workforce and
Increment Trends Survey
Results (Phase I)
Consulting, Deloitte Touché Tohmatsu India LLP
March 2022
Dear All,
We hope that you are doing well and would like to thank you for enriching our study though your
participation in the Workforce and Increment Trends Survey - edition over edition. The last few years have
seen multiple ‘once-in-a-lifetime’ events making planning and forecasting more difficult over time. It has
been our constant endeavor to bring you data and insights which are reliable, useable and timely.
The health, business and labor-market dynamics have been seeing a change every six months or so. From a
gradual slowdown of the economy pre-COVID in 2019 to the recessionary economic impact of the first
lockdown, the severe health crisis of the 2nd wave in 2021, the ‘great resignation’ in 2H FY 2022, the
uncertain geo-political environment we’re in right now; if there is one thing that we have learnt, it is that
some ‘new’ factors take center-stage in guiding employee-related decisions.
We will continue to strive to identify these factors and quantify their impact so that you could make databacked decisions in line with your priorities in this increasingly complicated environment. Thank you again.
From the Deloitte Team
inrewards@deloitte.com
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
2
About the 2022 Workforce & Increment Trends Survey (Phase I)
We are pleased to present the results of the Phase I edition of 2022 Workforce and Increment Trends Survey by Deloitte India covering 7 sectors, 26 sub-sectors and 450+ organisations
About the Survey
Methodology and Timelines
Design (November 2021-December 2021)
The scope of the study was finalized and a questionnaire was
designed as a primary data collection tool
With the increase in employment opportunities in the market and high
demand for niche skills, organizations are facing the challenge of suitably
rewarding and retaining employees while still acknowledging the risks that
remain due to COVID-19. Through this survey, we are sharing India-specific
insights in the following areas :
Invite (December 2021)
Invitation to take the online survey was sent to HR leaders across
industries
•
•
•
•
•
Workforce Snapshot
Salary Increments
Performance Management
Attrition and Retention
Other HR Strategies
Collect (December 2021-February 2022)
The responses received in the survey were validated for accuracy &
intended interpretation wherever required
Analyze (February 2022)
Survey data was analyzed to draw insights
Report (March 2022)
2022 Workforce & Increment Trends Survey Phase I Report shared with
© 2022 Deloitte Touche Tohmatsu India LLP.
01
02
03
04
05
participating
firms
and results
shared published
in theResults
media(Phase 1)
2022
Workforce
and Increment
Trends Survey
3
Performance Management
Macro Economy and Increment
Analysis
Executive Summary
Attrition & Retention
Workforce Snapshot
Other HR Strategies
For industry snapshots please refer to the appendix
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
4
Executive Summary
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
5
Executive Summary – Key Findings
01
Macro Economy
02
As the world recovered from the pandemic, IMF’s GDP projections improved. However,
uncertainty persists due to the current geo-political conditions. Inflation in India has
increased over the last few months and inflation expectations continue to remain high.
2022 Projected Increments – All India
Almost all companies plan to give increments as compared to only 92 percent companies
in 2021 and 60 percent in 2020. Average India increment expected to increase to 9.1
percent in 2022 from 8.0 percent in 2021.
2022 Projected Increment – Sector View
03
IT and Life sciences sectors are expected to give the highest increments in 2022; Services
sector is showing signs of recovery. Fintech, IT Products, Digital & E-commerce companies
are the only sub-industries expected to offer double digit average increments in 2022
Performance Management
Fewer employees are expected to be rated average and below; top performers can
continue to expect 1.7 times the increments given to average performers.
04
The Great Resignation
India attrition rose to 19.7 percent in 2021 from 15.8 percent in 2020 with voluntary
attrition spiking towards the end of last year. Organizations are opting for various cash and
non-cash talent retention strategies.
© 2022 Deloitte Touche Tohmatsu India LLP.
05
2022 Workforce and Increment Trends Survey Results (Phase 1)
6
India Inc responded differently to each COVID-19 wave; Average increment expected at 9.1% in 2022
2022 Increment
1st
2019 Increments
v
v
2nd COVID Wave
2020 Increments
•
•
•
2019 Pre-COVID
average increment
had slowed to a
single digit figure
Projections
COVID Wave
9.1%
•
COVID-19 pulled the
economy in a recession
Only 60% companies
gave an increment
(increment timing played
a crucial role)
30% companies
extended a temporary
pay-cut and majority had
a hiring freeze
Equity markets went into
a short-term turmoil
v
•
•
•
•
8.6%
2020 average
increment was the
lowest in decades
(including zeroes)
4.4%
As health challenges
escalated, companies
enhanced employee
benefits (particularly
insurance and leaves)
Most organizations gave
increments and reversed
pay-cuts
Stock markets bounced
back quickly
Hiring pace gradually reaccelerated particularly
for digital / tech skills
3rd COVID Wave
2021 Increments
v
2021 average increment
bounced back to 8.0%
with 92% companies
giving an increment
8.0%
•
•
•
•
The “Great Resignation”
came into full force
The third-wave had little
impact on increments
and bonus decisions
across sectors
Hiring and retention
became the top priorities
Inflation and the current
geo-political situation
remain a concern
All sectors are expected to give higher increments in 2022 compared to 2021
2019 average
increments
2020 average
increments
2021 average
increments
2022 average
increments
IT
1
9.4%
4
5.4%
8.7%
28.4%
9.1%
7.1%
1
10.5%
Life Sciences
2
8.9%
1
7.3%
9.2%
18.0%
9.3%
7.3%
2
9.4%
ITeS
2
8.9%
3
5.8%
7.8%
36.5% 8.5%
4.2%
3
9.1%
Consumer
Products
4
8.2%
2
6.9%
9.1%
68.5%
8.0%
6.1%
3
9.1%
Manufacturing
4
8.2%
6
3.5%
8.7%
46.5%
8.1%
2.0%
3
9.1%
Financial
Services
6
7.4%
5
3.7%
9.4%
48.7% 8.1%
4.5%
6
8.7%
Services
7
7.1%
7
3.2%
7.8%
76.7% 6.6%
2.4%
7.9%
All companies included
All companies included
7
All companies included
All companies included
Figure 1: Average Increment by sectors (%)
• With increased focus on digitization and digital transformation across sectors, the demand for IT skills has been on the rise, resulting in highest average increments
• The Life Sciences sector has remained the most resilient over the last three years
# Note: The data on this slide corresponds to averages including zeroes
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
8
Despite higher overall increments, FinTech, IT products, and Digital/E-commerce are the only subsectors expected to give double digit increments
IT/ITeS
Financial services
IT digital/Ecommerce
FinTech
11.0%
10.1%
Asset
Management
IT services
ITeS – Third-party
BPO
7.4%
Automotive
suppliers
8.0%
8.5%
NBFC
8.7%
8.2%
Automotive
producers
7.3%
4.6%
8.9%
8.7%
9.2%
7.5%
8.1%
8.7%
Non-life insurance
8.2%
8.0%
7.5%
7.5%
Life insurance
Figure 2: Average Increment by sub-sectors (%)
© 2022 Deloitte Touche Tohmatsu India LLP.
Renewables
Chemicals
Engineering
manufacturing
9.0%
9.0%
Engineering
consulting
Cement
7.0%
Development
8.0%
Retail
7.7%
5.6%
Life Sciences
7.2%
7.5%
Power
Hospitals
6.7%
7.0%
Telcom and
Ancillaries
8.0%
8.0%
Oil and gas
7.4%
7.9%
8.3%
8.4%
9.1%
Metals and
mining
8.8%
8.5%
9.5%
Infra/Real
estate
Services
9.0%
9.5%
8.9%
9.5%
ITeS KPO and
captives
Banks
9.4%
11.2%
IT products
9.6%
9.6%
7.7%
10.3%
12.9%
Manufacturing
3.9%
6.4%
Hospitality
1.7%
FMCG / FMCD
9.4%
9.1%
9.3%
8.0%
7.7%
2022 average projected increments
Sub-industry with highest 2022 increment projections
2021 average increments
Sub-industry with lowest 2022 increment projections
2022 Workforce and Increment Trends Survey Results (Phase 1)
9
Junior management employees can expect double-digit increments on an average in 2022
Overall
Top/Senior
Management
Middle
Management
Junior Management
and Others
Difference between
Top/Sr. & Junior
Management
9.1%
8.0%
8.7%
10.0%
2.0%
IT
10.5%
8.8%
10.4%
11.6%
2.8%
ITeS
9.1%
8.5%
9.0%
9.7%
1.2%
Life Sciences
9.4%
8.2%
9.3%
10.0%
1.8%
Consumer Products
9.1%
8.1%
8.7%
10.0%
1.9%
Manufacturing
9.1%
7.8%
9.0%
9.8%
2.0%
Financial Services
8.7%
7.2%
8.3%
9.6%
2.4%
Services
7.9%
7.0%
7.9%
8.8%
1.8%
Sector
Overall India
Table 1: Average Increment by levels of management across sectors (%)
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
10
34% companies are expected to give double-digit increments in 2022
2022
Early Estimates suggest
3 out of 10 companies
are expected to give
equal to or more than
10% increments in 2022
34%
2021
20%
Almost all organizations
plan to give increments
in 2022
2020
12%
1
2
3
Above last 3 years growth
Equal to last 3 years growth
Below last 3 years growth
Figure 3: Percentage of companies giving 10% or more increments (last 3-year trend)
8.5
9.2
Less than 1,000 cr.
8.3
9.1
1,000 to 4,000 cr.
FY 2020-21
8.4
8.8
4,000 to 10,000 cr.
8.2
9.2
Above 10,000 cr.
FY 2021-22
Figure 4: Average increments in INR (%) by consolidated revenue FY 2020-21
© 2022 Deloitte Touche Tohmatsu India LLP.
8.3%
8.7%
8.9%
9.4%
Projected Increments FY 2021-22
Figure 5: Average Increments by Expected Revenue Growth
2022 Workforce and Increment Trends Survey Results (Phase 1)
11
Top performers can continue to expect 1.7x the increments given to employees meeting expectations
1.7X
(figures in brackets) denote change from 2020-21
1.3X
56.2%
(-1.1%)
1.0X
23%
(4.4%)
8.9%
(-2.4%)
8.7%
(0.9%)
3.3%
(-0.7%)
Significantly
Exceeds Expectation
Exceeds
Expectation
Meets
Expectation
Below
Expectation
Significantly
Below Expectation
Figure 6: Overall India Bell-Curve Distribution (2021-22 vs 2020-21)
Performance
Multiplier
1.7
1.3
1.0
0.4
0.1
• To ensure retention, organizations continue to reward top
performers disproportionately.
• The Bell-curve (for companies that use performance ratings) has
shifted slightly towards the right as compared to the previous year
• On an average, top performers get 1.7 times the pay increment
given to average performers.
Performance Multiplier- Multiplier for each rating is calculated by dividing the salary increment for each category by the “Meets Expectation”.
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
12
Macro Economy and Increment Analysis
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
13
GDP projections have been robust but there are downside risks owing to recent global developments
10.4
10.0
9.8
9.0
8.5
8.0
7.6
7.0
6.9
8.0
7.7
7.7
7.4
5.7
5.5
7.4
5.1
7.6
7.4
4.5
3.2
3.1
6.8
2.3
1.9
1980S
7.4
1990S
2000S
China
India
Figure 7: Average Decadal Real GDP Growth (%)
2010S
USA
2.2
2020S
1H2019
2H2019
1H2020
2H2020
2022-23
1H2021
7.1
6.6
2H2021
1H2022
2023-24
Figure 8: GDP Growth Projections for India over time (%)
• The charts above show the GDP growth projections as published by the International Monetary Fund (IMF)
• There are two key takeaways:
• GDP Growth in 2020s while on the positive in recent years bears the negative effect of 2020 which was an anomaly (Figure 7)
• 2022-23 GDP projections have seen a consistent rise as compared to 2023-24 projections (Figure 8)
Source: International Monetary Fund, World Economic Outlook
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
14
RBI’s professional forecasters projections for 2022-23 remained strong until February 2022
8.9
8.3
8.5
7.7
7.2
6.8
7
7.5
7.1
7.0
6.5
5.9
4.25
4.5
4.6
5
4.9
5.3
3.0 3.2
Consumption
Investment
GDP
August 2021
Agriculture
Industry
Services
February 2022
Figure 9: Growth projections by GDP component FY 2022-23 (% average)
•
•
•
•
Yield on 10-year G-sec
Repo rate
August 2021
Headline CPI
Core CPI
February 2022
Figure 10: Interest rate and inflation projections FY 2022-23 (% Average)*
The charts above show the change in average forecasts per the RBI’s professional forecasters survey reports.
We compare the forecasts for FY2022-23 from two reports – August 2021 (post the second wave of COVID-19) and February 2022
Growth projections for all GDP components (from both demand and supply sides) have improved
An uptick in inflation is expected but forecasts continue to be in the range of the RBI’s comfort zone of 6%+-2%
*Calendar year for repo rate, headline, and core CPI
Source: RBI, Survey of Professional Forecasters on Macroeconomic Indicators
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
15
Headline & food Inflation have been on an uptrend over the last few months and household
expectations continue to remain in double-digits
15
13
13
11
10
10
12
11
11
11
9
7
5
3
6
5
4
6
5
4
6
6
4
6
5
4
4
3
4
6
6
5
5
4
3
3
2
2
1
Jan-21
Feb-21
Mar-21
Apr-21
Headline CPI (% y-o-y)
May-21
June-21
Food Inflation (% y-o-y)
July-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
(Provisional)
RBI's Households' 1 year ahead Inflation Expectation (% y-o-y)
Figure 11: Different measures of inflation (%, y-o-y)
•
After staying low for a brief period in the third quarter of 2021, headline inflation has increased over the past 2 months
•
Historically, there has been a correlation in Food Inflation and Households’ inflation expectations, although we see sharp divergence right now
Source: RBI
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
16
The increase in inflation has been higher than the increase in increments over the last one year
Period
Average India salary
increment (A)
Avg. CPI inflation
(%, y-o-y) (B)
Salary increment less
CPI (A minus B)
One-year ahead households’
inflation expectations by RBI
(C)
Salary increment less
inflation expectations
(A minus C)
2019
8.6%
2.0%
6.6%
8.1%
0.5%
2020
4.4%
7.6%
-3.2%
9.2%
-4.8%
2021
8.0%
4.1%
3.9%
10.1%
-2.1%
2022
(Projected)
9.1%
6.0%
3.1%
10.7%
-1.6%
Table 2: Real Wage Growth Analysis
Notes: Salary increment (actual for 2019, 2020, 2021 and projected for 2022) is from Deloitte’s Workforce and Increment Trends Survey. Avg CPI Inflation reported at actuals as of January of each
year. One-year ahead inflation expectations correspond to the latest RBI Survey report.
• Real wage growth turned positive in 2021 (considering headline CPI) after de-growth in 2020.
• If we consider household’s expectations of inflation, real wage growth in India has been on the negative territory over the last few years.
• In India, the observed co-relation between inflation and increments has not been so strong
Source: RBI, Deloitte
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
17
Market benchmarks and company-level performance are impacting increment budgets the most
Figure 12: Factors affecting salary increment budgets in India (% of companies); multiple responses allowed
17%
59%
52%
12%
8%
48%
Voluntary Financial Health
Expected
Last Year's
Attrition of the Sector or
Company
Company
Industry or
Sub-sector
Performance
Performance
Market
Salary
Increase
State of the
Economy
Equal to Last 3 Years Growth Rate
Almost 95% companies are
expecting revenue growth
of at least 3-year average
Above Last 3 Years Growth Rate
50%
45%
5%
Below Last 3 Years Growth Rate
Figure 13: Revenue Growth Rate (% of companies)
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
18
Factors beyond individual performance are impacting increment differentiation among employees
82%
65%
39%
Target compensation positioning
Potential of Employee
Function (Business v/s Enabling)
Figure 14: Factors affecting increment differentiation other than individual performance levels (prevalence in % of companies)
➢ Other than individual performance, organizations
use target compensation positioning to
differentiate increments between employees
© 2022 Deloitte Touche Tohmatsu India LLP.
➢ A growing trend is to differentiate
increments basis potential of the
employee
➢ Almost 4 out of 10 companies differentiate
increments by functions
2022 Workforce and Increment Trends Survey Results (Phase 1)
19
Performance Management
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
20
While most companies still use ratings to assess individual performance, other methods are gaining
traction
Performance management approaches have been evolving in
the recent times
A
B
C
D
57%
Performance
Ratings-With Bell
Curve
33%
Performance
Ratings-Without
Bell Curve
8%
No Ratings –
Continuous
Feedback
2%
No Ratings –
Annual
Feedback
Figure 15: Assessment of individual performance
© 2022 Deloitte Touche Tohmatsu India LLP.
Increasing number of organizations (mostly in IT sector and
IT Captives) are not adhering to a pre-defined bell curve &
decoupling performance management with ratings
10% organizations do not use performance ratings to assess
individual performance in 2022 compared to only 6% in 2020
Organizations are shifting the focus to leverage the
performance management system as a tool to enable
learning and employee development / careers
2022
2021
2020
90%
92%
94%
10%
8%
6%
Companies using Performance Ratings
Companies not using Performance Ratings
Figure 16: Last 3-year trend of employee performance assessment
2022 Workforce and Increment Trends Survey Results (Phase 1)
21
98% organizations in India are planning to give bonus or variable pay for FY 2021-22 performance
5%
5%
37%
22%
6%
2%
6%
5%
23%
64%
31%
53%
43%
47%
36%
63%
47%
52%
47%
Life Sciences
Financial
Services
Consumer
Products
IT
73%
58%
ITeS
All India
Figure 17: % of companies by the variable pay-out levels (as % of target pay-out) across sectors
75%
Manufacturing
100% - 120%
Services
Greater than 120%
Less than 100%
Percentage of Target Bonus Pay-out
92%
© 2022 Deloitte Touche Tohmatsu India LLP.
90%
80%
2022 Workforce and Increment Trends Survey Results (Phase 1)
22
Organizations across sectors differentiate increments for top performers
1.76
1.72
1.69
1.69
1.67
1.65
1.63
1.70
Ratio of Increment
awarded for
“Significantly
Exceeds
Expectations”
against “Meets
Expectations”
Average Performer (1.0)
0.55
0.49
0.39
IT
Consumer
Products
Financial
Services
0.51
ITeS
0.45
Manufacturing
0.43
0.40
Life Sciences
All-India
0.34
Service
Ratio of Increment
between “Below
Expectations” and
“Meets
Expectations”
Figure 18: Increment differentiation by sectors
• With a positive market sentiment, the average increments have increased across sectors in varying degrees.
• Due to an increase in demand for technical skills across sectors, IT / ITeS organizations are focusing specifically on differentiation for top performers.
• Differentiation of top performers continues to be one of the key retention measures.
Performance Multiplier- Multiplier for each rating is calculated by dividing the salary increment for each category by Meets Expectation category.
An employee rated “Significantly Exceeds Expectations” will get 1.7 times the increment that the average performer / receives.`
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
23
More employees are expected to be promoted and get a higher promotional increase in 2021-22
Figure 19: % of employees promoted
10.6%
12.4%
2020 - 21
12.3%
2020 - 21
2021 - 22
12.2%
7.4%
2019 - 20
2019 - 20
11.9%
2021 - 22
Figure 20: % of incremental promotional increase
Figure 21: % of employees classified as key talent
7.5%
• Organizations were more conservative in promotions last year due to the uncertain environment
• The average promotional increase has also increased sharply from 2020-21
• About 12.2% of overall employees were identified as “Key Talent” in FY 2021-22
5.4%
© 2022 Deloitte Touche Tohmatsu India LLP.
2020-21
2021-22
2022 Workforce and Increment Trends Survey Results (Phase 1)
24
Attrition & Retention
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
25
Most organizations have stated pandemic-induced disruptions as the reason for “Great Resignation”
1
1 in 4 organizations believe that heavy
premiums offered in the market due to an uptake
15% organizations have stated unhealthy
work-life balance due to work from home
in hiring across organizations is the key reason
arrangement as the key reason
3
10% of the organizations state pandemic driven
pay-cuts, zero or no increments and lack of
career progression as the key reason
5
Drop in engagement levels due to work from
7
More availibility of remote working opportunities
than ever
home arrangements
2
IT Sector boom and an increase in number of
start-ups in India
4
Increase in demand for tech talent
6
Perceived in-equity amongst employees given
8
the generous hikes offered to new hires
Figure 22 : key reasons which Organizations believe have contributed to the “Great Resignation”
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
26
Unlike 2020, in 2021 involuntary attrition dropped and voluntary attrition increased rapidly in India
4.6%
3.4
2.6%
10.4
3.5%
3.4%
3.8%
3.4%
4.2
3.7
2.4
6
2.7
2.7
2.7%
2.6
26.1
20.7
13.5
12.3
17.2
3.7
0.9
2.6
18.9
13.0
3.6%
1.5
3.4
2.3
5.5
14.6
10.1
1.5
11.1
19.4
14.2
17.3
12.1
6.9
Overall India
Consumer products
Financial Services
IT
ITeS
Manufacturing
Life Sciences
Services
Figure 23: Attrition (%) by sectors
•
Involuntary attrition specifically decreased
for the IT and Services sectors
•
Voluntary Attrition in 2021 was 1.4 times of
what it was in 2020
© 2022 Deloitte Touche Tohmatsu India LLP.
2021 Involuntary Attrition (%)
2021 Voluntary Attrition (%)
2020 Involuntary Attrition (%)
2020 Voluntary Attrition (%)
Change in overall attrition in 2021, from 2020
2022 Workforce and Increment Trends Survey Results (Phase 1)
27
Technology and Sales Functions witness maximum attrition across sectors
•
•
With voluntary attrition on the rise, we observe certain functions show consistent trends across all sectors
Transformational and revenue generating functions suffer higher attrition than enabling functions
Top 2 Functions with Maximum Attrition
Technology / Digital
Sales
Top 2 Functions with Least Attrition
Administration & Secretarial
Human Resources
Figure 24: Attrition trend by functions
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
28
With rising attrition levels, organizations opt for monetary and non-monetary measures of retention
Compensation-Related Measures
Career-Related Measures
Mid-year Corrections
Retention Bonus
Incentive Schemes
(Short/Long Term)
Career Management /
Growth Opportunities
Learning & Development
Opportunities
37%
20%
10%
11%
8%
Figure 25: Retention Measures (% of companies out of the ones taking retention measures apart from normal salary increments
• Post the pandemic - Welfare Schemes, Employee Engagement, Work Life Balance, Flexible Work hours have been effective retention hooks adopted by the organizations
• New age benefits and redefined policies are being used as attractive tools to enhance job satisfaction
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
29
Apart from the rising demand of digital and technology skills across sectors, other critical roles
demanding a premium are emerging mainly at a mid-management level
• AI & Big Data
• Cybersecurity
• Risk
• AI & Machine
Learning
• Network
Security
• Electric Vehicle
Space
• Digital Sales
• Deep Learning
• Sales &
marketing
• E-commerce
specific
roles
• Brand
• Data Science
• Data Analytics
• Automation
• Cloud
Computing
• Full Stack
Developers
• Logistics
• Automation
• Project
management
• Sales
• Research &
Development
• Quality
• Software
Development
• Salesforce
• Data
Engineering
• Mobile
Developers
• Engineering
• Procurement
• Operations
• Sales Analytics
• Social Media
• Business
Development
• Key Account
Management
ITeS
IT
Manufacturing
Services
Life
Sciences
Consumer
Products
•
•
•
•
Risk
Investment
Research
Product
• Actuary
• Investor
Relations
• Customer
Experience
>30% Premium
15-30% Premium
<15% Premium
Financial
Services
Figure 26: Key areas of premium demanding skills across sectors
• Digitization, Automation, Artificial Intelligence, Machine Learning, Cloud Computing are few of the Technology skills that are in high demand and are being hired from across sectors
• While these critical roles or functions are in demand across levels of management, almost half of the companies cited role requirements at Middle Management level
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
30
Workforce Snapshot
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
31
Conscious efforts are required to achieve a greater balance in gender diversity at the workplace
All India
23%
Consumer
Products
Financial Services
IT
ITeS
Life Sciences
Manufacturing
Services
19%
23%
29%
34%
77%
81%
77%
4
71%
3
66%
1
21%
11%
79%
89%
30%
70%
Figure 27: Population distribution basis gender across sectors
© 2022 Deloitte Touche Tohmatsu India LLP.
6
5
7
2
Ranking
2022 Workforce and Increment Trends Survey Results (Phase 1)
32
1 out of every 5 employees in India now “Gen-Z”
Baby Boomer
Gen X
(Born between 1944-1964)
(Born Between 1965-1979)
Millennials
Gen Z
(Born Between 1980-1994)
(After 1994)
Overall India
3%
4%
20%
18%
61%
58%
16%
20%
ITeS
1%
1%
6%
9%
69%
60%
24%
30%
IT
1%
1%
14%
12%
62%
59%
23%
28%
Services
4%
10%
23%
21%
55%
50%
18%
19%
Life Sciences
2%
2%
15%
14%
65%
71%
18%
13%
Manufacturing
3%
7%
26%
24%
61%
53%
10%
16%
Financial Services
2%
1%
16%
16%
67%
65%
15%
18%
Consumer Products
4%
2%
29%
25%
63%
64%
4%
9%
Figure 28: Population distribution by generations across sectors
© 2022 Deloitte Touche Tohmatsu India LLP.
% of HC 2020
% of HC 2021
2022 Workforce and Increment Trends Survey Results (Phase 1)
33
We observe a wide variety of sales vs non-sales roles across sectors in India
Non- Sales Population
Sales Population
All-India
All-India
94%
23%
77%
93%
83%
83%
77%
56%
57%
43%
44%
23%
17%
6%
ITeS
17%
7%
IT
Manufacturing
© 2022 Deloitte Touche Tohmatsu India LLP.
Services
Life
Consumer
Sciences Products
Financial
Services
ITeS
IT
Figure 29: Population distribution by Sales Headcount
Manufacturing
Services
Life
Consumer
Sciences Products
Financial
Services
2022 Workforce and Increment Trends Survey Results (Phase 1)
34
Other HR Strategies
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
35
The best received Rewards Practices were observed to be focused on employee retention
Best received Rewards
Programs
Key Rewards Challeneges
faced by Organizations
Long Term Incentives
Maintaining internal parity given increase in
pay levels for talent in the market
Market corrections and one-time bonuses such
as retention and joining bonus
Maintaining accurate market data due to
the constantly evolving labor market
Rewards & Recognition programs such as spot
awards, MD awards & peer-to-peer recognition
Managing fixed employee cost due to ringfencing and premiums offered to new hires
Upskilling & accelerated career growth for high
potential employees
Retention of key talent as organizations are
offering generous hikes
Figure 30: Trends across various Rewards Programs and Challenges across organizations
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
36
A few ways organizations are promoting mental health initiatives and related engagement in India
Dedicated helpline number for oncall wellness services
One-on-one free counselling
sessions through in-house or
external counsellors
Mandating attendance in wellness
programs
1
Weekly pulse surveys for stress
diagnosis
Top management involvement to
promote wellness sessions
2
Dedicated wellness portals OR
in-house or third-party employee
assistance applications
Rewards & Recognition basis
attendance in wellness programs
3
Weekly wellness sessions such as
webinars from experts, yoga and
meditations sessions, etc.
Frequent promotion of wellness
programs through multiple channels
4
Figure 31: initiatives to promote mental health amongst employees
© 2022 Deloitte Touche Tohmatsu India LLP.
Figure 32: initiatives to increase engagement in mental health programs
2022 Workforce and Increment Trends Survey Results (Phase 1)
37
Appendix
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
38
Manufacturing
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
39
Workforce and Increment Snapshot – Manufacturing
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
7% 3%
7%
16%
11%
Bonus Payout
Attrition
11.9%
14%
7%
24%
8.4%
40%
30%
53%
89%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
Increment Snapshot
Less than 80%
90%-100%
110%-120%
Salary Increment by Management Levels
9.0%
8.1%
7.8%
80%-90%
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
54.4%
9.8%
9.1%
8.2%
2021
8.6%
7.8%
23.7%
6.8%
10.1%
9.0%
3.5%
2.8%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
40
Workforce and Increment Snapshot – Manufacturing – Automotive Producers
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
2%
15%
12%
Bonus Payout
Attrition
8%
11.3%
18%
15%
15%
5.8%
38%
23%
66%
88%
2020
Female
Male
Overall Salary Increment
Gen X
Less than 80%
80%-90%
Millenials
Gen Z
100%-110%
110%-120%
Salary Increment by Management Levels
63.4%
9.5%
8.5%
8.1%
7.8%
7.3%
90%-100%
Bell Curve and Increment Differentiation
10.6%
9.5%
Increment Snapshot
2021
Baby Boomers
19.7%
6.9%
8.8%
6.1%
6.6%
4.8%
1.5%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
41
Workforce and Increment Snapshot – Manufacturing – Automotive Suppliers
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
3%
19%
8%
Bonus Payout
Attrition
12%
15.6%
20%
18%
6%
13.6%
29%
35%
58%
92%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
80%-90%
100%-110%
Greater than 120%
Salary Increment by Management Levels
9.6%
Increment Snapshot
2021
8.8%
8.2%
Bell Curve and Increment Differentiation
10.3%
9.6%
52.6%
8.5%
7.1%
21.9%
6.9%
12.5%
5.8%
9.4%
3.8%
3.5%
Average Increment
2019
2020 (Incluing Zeros)
90%-100%
110%-120%
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
42
Workforce and Increment Snapshot – Manufacturing – Chemicals
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
5%
17%
11%
Bonus Payout
Attrition
13%
12.8%
25%
25%
13%
8.2%
13%
53%
89%
2020
Female
Male
Overall Salary Increment
9.5%
Baby Boomers
Gen X
Millenials
Gen Z
8.4%
90%-100%
110%-120%
Bell Curve and Increment Differentiation
58.4%
9.9%
9.2%
8.7%
Increment Snapshot
80%-90%
100%-110%
Greater than 120%
Salary Increment by Management Levels
9.2%
38%
2021
8.9%
8.4%
25.3%
7.2%
6.4%
7.9%
6.7%
1.7%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
43
Workforce and Increment Snapshot – Manufacturing - Renewables
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
7% 1%
12%
Bonus Payout
Attrition
13%
13.2%
22%
9.7%
25%
62%
70%
88%
2020
Female
Male
Overall Salary Increment
Increment Snapshot
9.5%
Baby Boomers
Gen X
Millenials
Gen Z
Less than 80%
Salary Increment by Management Levels
90%-100%
100%-110%
Bell Curve and Increment Differentiation
62.6%
9.9%
9.0%
9.0%
2021
9.0%
7.8%
16.3%
8.8%
9.0%
3.5%
3.3%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2022 (Projected)
Junior Mgmt and Others
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
44
Workforce and Increment Snapshot – Manufacturing – Engineering Manufacturing
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
7% 2%
8%
Bonus Payout
Attrition
20%
10.2%
35%
6.9%
20%
56%
60%
92%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
100%-110%
Salary Increment by Management Levels
7.6%
7.0%
Greater than 120%
52.5%
8.5%
7.8%
110%-120%
Bell Curve and Increment Differentiation
9.5%
8.5%
Increment Snapshot
2021
33.5%
7.5%
6.5%
5.9%
10.0%
4.5%
3.5%
0.5%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.5
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.2
1.0
0.4
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
45
Workforce and Increment Snapshot – Manufacturing – Metals and Mining
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
11%
7%
Bonus Payout
Attrition
18%
20%
7.6%
20%
3.2%
32%
39%
60%
93%
2020
Female
Male
Overall Salary Increment
Gen X
Millenials
Gen Z
90%-100%
8.5%
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
47.5%
9.8% 9.9%
8.3%
7.6%
2021
Salary Increment by Management Levels
9.1%
9.0%
Increment Snapshot
Baby Boomers
9.0%
25.0%
7.5%
12.0%
10.0%
5.5%
1.1%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
46
Snapshot
Snapshot
Workforce
2021
Workforce
Workforce and Increment Snapshot – Manufacturing – Power
Inter Gen Workforce
Gender Diversity
14%
12%
11%
Bonus Payout
Attrition
9.1%
33%
30%
7.8%
67%
44%
89%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
2021
90%-100%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
80.0%
Increment Snapshot
9.3%
8.5%
7.5%
7.7%
7.3% 7.4%
6.5% 6.6%
15.0%
1.5%
2020 (Incluing Zeros)
5.0%
0%
Average Increment
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
100%-110%
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
0%
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.6
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
47
Consumer Products
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
48
Workforce and Increment Snapshot – Consumer Products
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
2%
9%
13%
15.7%
25%
19%
Bonus Payout
Attrition
54%
13.1%
33%
64%
81%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
Less than 80%
Salary Increment by Management Levels
Increment Snapshot
8.7%
8.1%
8.0%
7.0%
6.9%
100%-110%
51.3%
8.2%
7.6%
90%-100%
Bell Curve and Increment Differentiation
10.0%
9.1%
8.2%
2021
29.9%
8.7%
7.5%
2.7%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
49
Life Sciences
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
50
Workforce and Increment Snapshot – Life Sciences
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
2%
13%
Bonus Payout
Attrition
7%
14%
14%
16.1%
21%
12.7%
21%
57%
79%
71%
2020
Female
Male
Overall Salary Increment
Increment Snapshot
8.9%
Gen X
80%-90%
90%-100%
Millenials
Gen Z
100%-110%
110%-120%
Salary Increment by Management Levels
9.4%
9.3%
8.8%
8.0% 8.2%
7.3%
2021
Baby Boomers
Bell Curve and Increment Differentiation
10.2% 10.0%
9.3%
59.0%
21.7%
9.3%
7.8%
2.3%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
51
Services
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
52
Workforce and Increment Snapshot – Services
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
2%
2%
10%
19%
23.0%
30%
15%
21%
21%
23%
19.7%
70%
50%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
38%
2021
Less than 80%
90%-100%
110%-120%
Salary Increment by Management Levels
80%-90%
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
Increment Snapshot
60.6%
8.8%
7.9%
7.1%
7.9%
7.0%
6.6%
7.8%
18.4%
7.0%
9.2%
6.1%
7.1%
4.6%
3.2%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.3
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
53
Snapshot
Snapshot
Workforce
2021
Workforce
Workforce and Increment Snapshot – Services – Development
Inter Gen Workforce
Gender Diversity
15%
23%
Bonus Payout
Attrition
17.4%
33%
22%
50%
17.2%
50%
67%
40%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
2021
Less than 80%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
60.0%
Increment Snapshot
9.5%
8.3%
8.2%
7.7%
7.1%
8.0%
7.0%
6.3%
15.0%
15.0%
5.0%
5.0%
3.4%
Average Increment
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
90%-100%
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
54
Workforce and Increment Snapshot – Services – Engineering Consulting
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
11%
16%
22%
25%
19.5%
22%
50%
12.3%
78%
25%
52%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
Increment Snapshot
80%-90%
Salary Increment by Management Levels
7.8%
7.4%
53.8%
28.6%
7.7%
6.8%
6.0%
8.2%
5.4%
Average Increment
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
100%-110%
8.7%
4.5%
2019
90%-100%
Bell Curve and Increment Differentiation
9.6%
8.8%
6.6%
2021
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
4.0%
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
55
Workforce and Increment Snapshot – Services – Retail
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
11%
21%
28%
Bonus Payout
Attrition
23.7%
20%
30%
22%
23.0%
72%
46%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
50%
2021
Less than 80%
Salary Increment by Management Levels
90%-100%
100%-110%
Bell Curve and Increment Differentiation
Increment Snapshot
58.3%
8.0%
7.7%
8.6%
7.9%
7.4%
18.3%
6.9%
6.3%
5.6%
8.3%
8.3%
4.2%
6.7%
1.2%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.8
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.3
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
56
Workforce and Increment Snapshot – Services – Hospitality / Restaurants
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
9%
22%
17%
17%
33.7%
25%
20%
22.6%
33%
33%
78%
46%
2020
Female
Male
Overall Salary Increment
2021
Baby Boomers
Gen X
Less than 80%
80%-90%
Millenials
Gen Z
90%-100%
100%-110%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
65.0%
Increment Snapshot
9.0%
15.0%
7.2%
6.4%
6.3%
5.8%
4.6%
10.0%
5.0%
3.4%
5.0%
2.2%
1.7%
0.0%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.5
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.3
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
57
Financial Services
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
58
Workforce and Increment Snapshot – Financial Services
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
1%
18%
Bonus Payout
Attrition
16%
6%
29.5%
11%
6%
23%
31%
24.9%
77%
45%
65%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
Less than 80%
90%-100%
Greater than 120%
Salary Increment by Management Levels
Increment Snapshot
8.1%
7.9%
7.0% 7.2%
55.2%
8.7%
8.3%
23.6%
8.3%
9.4%
3.7%
3.5%
Average Increment
2019
2020 (Incluing Zeros)
80%-90%
110%-120%
Bell Curve and Increment Differentiation
9.6%
8.7%
7.4%
2021
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
59
Snapshot
Snapshot
Workforce
2021
Workforce
Workforce and Increment Snapshot – Financial Services - Fintech
Inter Gen Workforce
Gender Diversity
1% 10%
27.1%
25%
24%
Bonus Payout
Attrition
38%
62%
76%
64%
2021
Female
Male
Overall Salary Increment
Increment Snapshot
9.6%
Baby Boomers
Gen X
Millenials
Gen Z
Less than 80%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
11.5%
10.3%
90%-100%
58.5%
10.2%
9.1%
24.8%
12.3%
3.0%
Average Increment
2021
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Top & Sr. Mgmt
Middle Mgmt
2022 (Projected)
Junior Mgmt and Others
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
1.5%
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
60
Workforce and Increment Snapshot – Financial Services - Banks
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
1% 12%
22%
13%
25%
24.0%
27%
12%
18.2%
73%
64%
Female
Male
Overall Salary Increment
2020
50%
2021
Baby Boomers
Gen X
Less than 80%
80%-90%
Millenials
Gen Z
90%-100%
100%-110%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
Increment Snapshot
56.0%
7.7%
7.4%
6.9%
7.1%
6.5% 6.8%
7.9%
7.6%
8.6%
24.8%
7.5%
8.0%
4.2%
3.8%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
61
Workforce and Increment Snapshot – Financial Services – Life Insurance
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
1%
18%
26%
Bonus Payout
Attrition
8%
62.5%
23%
31%
44.5%
69%
69%
55%
Female
Male
Overall Salary Increment
2020
Baby Boomers
Gen X
Millenials
Gen Z
2021
90%-100%
Salary Increment by Management Levels
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
Increment Snapshot
60.8%
8.0%
7.6%
7.5%
7.5%
7.4%
6.7%
8.5%
8.0%
22.5%
7.7%
6.8%
7.4%
2.6%
2.9%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.8
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.5
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
62
Workforce and Increment Snapshot – Financial Services - Non-Life Insurance
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
14%
17%
0%
Bonus Payout
Attrition
9%
12%
34.2%
18%
45%
28.6%
83%
27%
74%
Female
Male
Overall Salary Increment
2020
Baby Boomers
Gen X
Less than 80%
80%-90%
Millenials
Gen Z
90%-100%
100%-110%
Salary Increment by Management Levels
Increment Snapshot
Bell Curve and Increment Differentiation
59.3%
9.7%
8.7%
8.1%
7.9%
2021
7.9%
7.7%
8.9%
8.6%
17.7%
6.7%
10.2%
5.3%
9.0%
3.8%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.4
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
63
Workforce and Increment Snapshot – Financial Services – Asset Management
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
6% 2%
9%
15.3%
24%
22%
Bonus Payout
Attrition
18%
9%
9%
13.1%
78%
68%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
Less than 80%
90%-100%
Greater than 120%
Salary Increment by Management Levels
Increment Snapshot
9.4%
8.1%
50.2%
8.7%
27.1%
7.6%
7.1%
8.1%
11.9%
4.3%
80%-90%
110%-120%
Bell Curve and Increment Differentiation
10.4%
9.4%
8.0%
7.2%
55%
2021
2.6%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
64
Workforce and Increment Snapshot – Financial Services – Non-Banking Financial Company
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
1% 13%
13%
Bonus Payout
Attrition
25%
9%
18%
27.3%
55%
87%
61%
Female
Male
Overall Salary Increment
2020
Gen X
Less than 80%
90%-100%
Millenials
Gen Z
110%-120%
Greater than 120%
Salary Increment by Management Levels
Bell Curve and Increment Differentiation
52.3%
9.4% 9.6%
8.6% 8.8%
8.2%
7.3%
2021
Baby Boomers
8.9%
8.7%
Increment Snapshot
18%
30.4%
23.4%
7.3%
10.9%
7.6%
5.9%
2.0%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.6
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
65
IT
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
66
Workforce and Increment Snapshot – IT
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
1% 12%
21.7%
7%
28%
29%
18.3%
5% 3% 10%
38%
36%
71%
59%
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
2020
Less than 80%
90%-100%
110%-120%
Salary Increment by Management Levels
Increment Snapshot
10.5%
9.4%
2021
Bell Curve and Increment Differentiation
56.3%
11.6%
10.4%
9.1%
8.8%
80%-90%
100%-110%
Greater than 120%
9.8%
24.6%
8.5%
7.4%
7.4%
9.0%
5.4%
2.6%
Top & Sr. Mgmt
Average Increment
2019
2020 (Incluing Zeros)
2021
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.8
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.6
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
67
Workforce and Increment Snapshot – IT – IT Digital/ E-commerce
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
6%
20.9%
21%
30%
20.0%
70%
73%
Female
Gen X
Male
Overall Salary Increment
Millenials
2020
90%-100%
Gen Z
Salary Increment by Management Levels
Increment Snapshot
14.2%
12.9%
11.0%
11.5%
9.7%
Top & Sr. Mgmt
Average Increment
2020 (Incluing Zeros)
2021
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
26.4%
11.4%
8.4%
8.6%
7.6%
2019
Bell Curve and Increment Differentiation
59.5%
12.9%
11.7%
100%
2021
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.9
3.8%
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.4
1.9%
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
68
Workforce and Increment Snapshot – IT – IT Products
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
0% 11%
9%
20.0%
27%
27%
Bonus Payout
Attrition
9%
19.1%
31%
41%
73%
62%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
2021
80%-90%
100%-110%
Greater than 120%
Salary Increment by Management Levels
11.1%
10.1%
9.8%
90%-100%
110%-120%
Bell Curve and Increment Differentiation
57.1%
12.4%
11.2%
10.8%
Increment Snapshot
9%
11.0%
22.3%
9.7%
8.4%
6.8%
7.8%
10.3%
2.5%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.8
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.6
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
69
Workforce and Increment Snapshot – IT – IT Services
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
2%
29%
Bonus Payout
Attrition
4%
13%
8%
25.3%
30%
15%
38%
15.1%
71%
35%
55%
2020
Female
Male
Overall Salary Increment
2021
Baby Boomers
Gen X
Less than 80%
80%-90%
Millenials
Gen Z
100%-110%
110%-120%
Salary Increment by Management Levels
90%-100%
Bell Curve and Increment Differentiation
Increment Snapshot
55.4%
10.2%
8.9%
7.4%
8.9%
7.5%
7.5%
8.2%
7.1%
6.2%
24.6%
8.2%
8.7%
3.2%
3.1%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.5
Significantly
Below Expectation
0.0
2022 Workforce and Increment Trends Survey Results (Phase 1)
70
ITeS
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
71
Workforce and Increment Snapshot – ITeS
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
5%
1% 9%
19.8%
30%
10%
5%
17%
34%
32%
16.9%
66%
60%
2020
Female
Male
Overall Salary Increment
Gen X
Millenials
Gen Z
Less than 80%
90%-100%
110%-120%
Salary Increment by Management Levels
9.1%
8.9%
Increment Snapshot
Baby Boomers
8.5%
9.1%
9.0%
8.5%
80%-90%
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
57.5%
9.7%
20.3%
7.4%
6.9%
32%
2021
9.3%
5.8%
8.7%
4.1%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.7
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
72
Workforce and Increment Snapshot – ITeS – ITeS KPOs / GICs
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
0% 8%
9%
17.0%
35%
36%
9%
9%
22%
13.2%
22%
64%
57%
2020
Female
Male
Overall Salary Increment
Gen X
Millenials
Gen Z
Less than 80%
90%-100%
110%-120%
8.5%
58.3%
9.0%
8.0%
20.4%
6.9%
6.8%
80%-90%
100%-110%
Greater than 120%
Bell Curve and Increment Differentiation
10.1%
9.4%
8.9%
30%
2021
Salary Increment by Management Levels
9.5%
9.3%
Increment Snapshot
Baby Boomers
8.8%
8.3%
4.1%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.6
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.3
1.0
0.5
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
73
Workforce and Increment Snapshot – ITeS – ITeS - Third Party Business Process Outsourcing (BPO)
Inter Gen Workforce
Snapshot
Snapshot
Workforce
2021
Workforce
Gender Diversity
Bonus Payout
Attrition
0% 7%
20%
31.5%
30%
35%
30%
26.9%
65%
50%
63%
2020
Female
Male
Overall Salary Increment
Baby Boomers
Gen X
Millenials
Gen Z
2021
Less than 80%
Salary Increment by Management Levels
80%-90%
90%-100%
Bell Curve and Increment Differentiation
Increment Snapshot
49.0%
8.2%
7.9%
8.2%
7.6%
7.5%
8.8%
7.9%
23.6%
6.8%
6.2%
12.0%
10.0%
3.4%
5.4%
Average Increment
2019
2020 (Incluing Zeros)
2021
Top & Sr. Mgmt
2022 (Projected)
© 2022 Deloitte Touche Tohmatsu India LLP.
Middle Mgmt
2021
Junior Mgmt and Others
2022 (Projected)
Significantly
Exceeds Expectation
1.8
Meets
Below
Exceeds
Expectation Expectation
Expectation
1.4
1.0
0.6
Significantly
Below Expectation
0.1
2022 Workforce and Increment Trends Survey Results (Phase 1)
74
Participant List
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
75
Participant List – Consumer Products
Amway India Enterprises Pvt. Ltd.
B9 Beverages Pvt Ltd
Britannia Industries Limited
Colgate-Palmolive India Ltd.
Dabur India Ltd
Diageo India
Epson India Pvt Ltd
Givaudan
Godrej Industries Limited
Hershey India
Himalaya Wellness Company
ITC Limited
Loreal India Pvt Ltd
McCain Foods India Private Limited
Mondelez India
Nestle
NIVEA India Pvt Ltd
PepsiCo India
Philip Morris Services India Sarl ; IPM India Wholesale Trading Private Limited
Tata Consumer Pvt Limited
VKL Seasoning Pvt Ltd
VST Industries Ltd
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
76
Participant List – Life Sciences
ACG World
Alkem Laboratories Limited
Amneal Pharmaceuticals Pvt Ltd.
Apotex India
athenahealth Technology Private Limited
Baxalta Bioscience India Pvt Ltd
Baxter Healthcare Inc.
Becton Dickinson India Pvt. Ltd.
Biocon Biologics
Cipla Ltd.
Eisai Pharmaceuticals India Pvt. Ltd
Granules India Ltd
Lupin Limited
Mylan
Novo Nordisk India Pvt Ltd
Piramal Enterprises Ltd
PQE India Private Limited
Solara Active Pharma Sciences Ltd
Sun Pharma Industries Limited
USV Private Limited
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
77
Participant List – Financial Services
Banks
Tata AIA Life Insurance Company
Axis Bank Limited
Non-Life Insurance
CTBC Bank Company Limited
ACKO
HDFC Bank
Aditya Birla Health Insurance
ICICI Bank
Bajaj Allianz General Insurance
IDFC First Bank
Future Generali India Insurance Co. Ltd
Kotak Mahindra Bank Ltd.
Liberty General Insurance Limited
RBL Bank
Magma HDI General Insurance
Utkarsh Small Finance Bank
ManipalCigna Health Insurance Company Limited
Yes Bank Limited
Niva Bupa Health Insurance Company Limited
Life Insurance
Raheja QBE General Insurance Company Limited
Aditya Birla Sun Life Insurance
Royal Sundaram General Insurance Co Limited
Aegon Life
SBI General Insurance
Aviva India
Tata AIG General Insurance Company
Bajaj Allianz Life Insurance
Non-Banking Financial Company
Bharti AXA Life Insurance
Aadhar Housing Finance Ltd
HDFC Life Insurance
Fedbank Financial Services Limited
ICICI Prudential Life Insurance
Fullerton India Credit Company
Max Life Insurance Company Limited
Godrej Housing Finance Limited
PNB MetLife India Insurance Co
HDB Financial Services Limited
Reliance Nippon Life Insurance
Hiranandani Financial Services Private Limited
SBI Life Insurance
InCred Financial Services
Star Union Dai-ichi Life Insurance
L&T Finance Ltd.
© 2022 Deloitte Touche Tohmatsu India LLP.
Piramal Enterprises Ltd
Tata Capital
TVS Credit Services Limited
Asset Management
Aditya Birla Sun Life AMC Limited
Axis Asset Management Company Ltd.
Baroda Asset Management India Limited
BNP Paribas Asset Management Limited
Canara Robeco AMC Ltd
IDFC Asset Management Co. Ltd.
IIFL Wealth Management Ltd.
Nippon Life India Asset Management Limited
SBI Funds Management Ltd
Tata Asset Management Pvt. Ltd.
Union Asset Management Company Limited
FinTech
Aegon Life
ACKO
BharatPe
InCred Financial Services
Loan tap financial technologies
National Payments Corporation of India (NPCI)
WazirX
2022 Workforce and Increment Trends Survey Results (Phase 1)
78
Participant List – IT
IT Product
IT Product (Contd.)
IT Services (Contd.)
Alef Mobitech Private Limited
Quotient Technology India Pvt Ltd
Hexaware Technologies
Amadeus Software Labs India Pvt. Ltd.
Rambus Chip Technologies (India) Pvt. Ltd.
Ignitarium Technology Solutions Pvt Ltd
AMD India Private Limited
ROHM Semiconductor India Pvt Ltd
Infogain India Pvt. Ltd.
Amdocs development center India LLP
Seagate Technology India
Infosys Limited
ANI Technologies Pvt. Ltd.
Sprinklr
Mastek Ltd
Aristocrat Leisure Ltd
Telekom Digital
Mavenir Systems Pvt Ltd
athenahealth Technology Private Limited
Toshiba Software India Pvt. Ltd.
Microland Limited
Bosch Global Software Technologies
TP Vision India Pvt Ltd
Mindtree Ltd.
CDK Global (India) Pvt Ltd.
TurnKey Solutions Private Limited
NSEIT Ltd
Civica Resources Pvt. Ltd.
UKG
Nucleus Software Exports limited
FIS Global
Vistaar Systems Pvt. Ltd.
Persistent Systems Limited
Flextronics Technologies India Pvt Ltd
VMware, Inc.
Quinnox Consultancy Services Limited
Gartner Inc
Volkswagen IT Services India Pvt Ltd
Quolam Business Solutions Pvt Ltd
Indus Valley Partners Pvt Ltd.
IT Services
Rayden Design Studio Pvt. Ltd.
Interra Systems India Pvt. Ltd.
3Pillar Global
Schlumberger India Technology Center Pvt. Ltd.
Microsoft India Pvt Limited
Birlasoft Ltd
SE2 Digital Service LLP
Netskope India Pvt. Ltd.
Colruyt IT Consultancy India Pvt Ltd
Sopra Steria
News Technology Services
CrimsonLogic India Pvt Ltd
Tata Communications Limited
Nuvolo
Excelra Knowledge Solutions Pvt Limited
Tata Insights and Quants
Publicis Sapient
Flatworld Solutions Private Limited
Tata Technologies
Quick Heal Technologies Ltd.
HappiestMinds Ltd
Unisys India Private Limited
UST
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
79
Participant List – IT
IT Services (Contd.)
Wipro Limited
Yash Technologies
Zensar Technologies
IT Digital/ E- Commerce
ACKO
Airbnb Capability Centre
BharatPe
Games 24/7
InCred Financial Services
Inmobi
Loan tap financial technologies
Myntra Jabong India Private Limited
National Payments Corporation of India (NPCI)
Times Internet Limited
WazirX
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
80
Participant List – ITeS
ITeS – KPO/GIC’s
ITeS – KPO/GIC’s (Contd.)
BA Continuum India Pvt. Ltd.
WM Universal Solutions Pvt. Ltd.
Boston Consulting Group
ITeS - Third Party Business Process Outsourcing (BPO)
Citibank
ATG Business Solutions
Colgate-Palmolive India Ltd.
Capita India Private Limited
Deloitte U.S. India Firms
EXL Service
Eastman Chemical India Pvt Ltd
Firstsource Solutions Limited
eClerx Services Ltd.
Infosys BPM
Ford Global Technology and Business Centre
InterContinental Hotels Group
H5 ASIA PACIFIC PRIVATE LIMITED
Mphasis Ltd.
JBS India
R1 RCM Private Limited
JP Morgan Chase
WNS Global Services Pvt Ltd
Morningstar India Pvt. Ltd.
ITeS – Other
Ocwen Financial Solutions Pvt. Ltd.
Atkins
Quinte Financials Technologies Pvt Ltd
Hinduja Tech Ltd
RBS Services India Pvt. Ltd.
Renault Nissan Technology and Business Centre India Pvt Ltd
ReSource Pro Operational Solutions Pvt Ltd
Volvo Group India
Societe Generale GSC Pvt Ltd
Tata Motors Limited
Trafigura Global Services
UBS
Unitedlex
Wells Fargo International Soutions Pvt Ltd
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
81
Participant List – Manufacturing
Automotive Producers
Automotive Suppliers
Automotive Suppliers (Contd.)
Ashok Leyland
A Raymond Fasteners India Pvt. Ltd.
Luminous Power Technologies
Bajaj Auto limited
AAM India Manufacturing Corporation Pvt Ltd
Makino Automotive
Daimler India Commercial Vehicles
Ace Designers Limited
Minda Industries Ltd.
Fiat India Automobiles Pvt Ltd
Aditya Auto Products & Engineering (I) Pvt. Ltd.
Natesan
Force Motors Limited
ARGL Ltd
Neolite ZKW
Ford Motor Private Limited
Asahi India Glass Ltd
Padmini VNA Mechatronics Pvt Ltd
Hero MotoCorp Ltd
Avtec Ltd
Polyplastics Industries India Pvt Ltd
Hyundai Motor India Limited
Balkrishna Industries Ltd.
Prabha Engineering Pvt. Ltd.
Mahindra & Mahindra
Bosch Ltd
Rane TRW Steering Systems Private Limited
Maruti Suzuki India Ltd
Bridgestone India Pvt Ltd
Rockman Industries
MG Motor India
CEAT Limited
Sansera Engineering Limited
Nissan Motors India Private Limited (NMIPL)
Continental India Pvt Ltd
Sellowrap EPP India Pvt. Ltd.
Renault India Private Limited
Delphi TVS
Sharda Motor Industries Ltd.
Renault Nissan Automotive India Private Limited (RNAIPL)
DENSO International India Pvt. Ltd.
Sintercom Ltd
Royal Enfield (Unit of Eicher Motors)
Freudenberg-NOK Pvt. Ltd.
Somic ZF Components Pvt. Ltd.
Tata Motors Limited
Gabriel India Ltd
Sterling Tools Limited
TVS Motor Company Limited
Helvoet Rubber & Plastic Technologies (I) Pvt Ltd
Stumpp, Schuele & Somappa Springs Pvt Ltd
Volvo Eicher Commercial Vehicles
Indo Schottle Auto Parts Pvt. Ltd.
Sundaram Brake Linings Ltd
Volvo Group India
Inteva Products India Automotive Private Limited
Sundaram Clayton Limited
Yamaha Motor India Pvt Ltd
IP Rings Ltd
Suprajit Engineering Ltd.
JK Fenner India Ltd
Takshi Auto
Johnson Matthey
Talbros Automotive Components Ltd.
© 2022 Deloitte Touche Tohmatsu India LLP.
Kiswok Industries Pvt. Ltd.
2022 Workforce and Increment Trends Survey Results (Phase 1)
82
Participant List – Manufacturing
Automotive Suppliers (Contd.)
Chemicals (Contd.)
Infrastructure / Real Estate (Contd.)
Tata AutoComp Systems Ltd.
Huntsman International (India) Pvt Ltd
L&T Construction
Tenneco
IVP LTD
L&T Realty
Toyota Kirloskar Auto Parts
Lubrizol Advanced Materials India Pvt. Ltd.
Reliance Infrastructure Limited
USUI SUSIRA INTERNATIONAL PVT LTD
Lubrizol India Private Limited
Runwal Group (SUBODH RUNWAL)
Varroc Engineering
Resil Chemicals
Metals and Mining
ZF Hero Chassis systems Pvt. Ltd.
SABIC Innovative Plastics (India) Pvt Ltd
ArcelorMittal Nippon Steel India Ltd
Cement
SRF Limited
Bharat Aluminium Company Limited (BALCO)
Bharathi Cement Corp Pvt Ltd
Engineering Manufacturing
ElectroSteel Limited
Gujarat Sidhee Cement Ltd
3M India
Hindustan Zinc Limited
JSW Cement
ACG World
Jamshedpur Continuous Annealing & Processing Co. Private Limited
Nuvoco Vistas Corp Ltd
Bajaj Electricals Ltd
JSPL
Saurashtra Cement Ltd
Carborundum Universal Limited
JSW Steel Ltd
UltraTech Cement Ltd
FCI OEN Connectors Limited
Metso
Chemicals
Hanon Automotive Systems India Pvt Ltd
Nava Bharat Ventures Ltd
Aarti Industries Ltd
Karl Mayer Stoll India Private Limited
Sesa Goa Iron Ore
Air Liquide
Oetiker India Pvt Ltd
Sterlite Copper
Aker India
Tata Advanced Systems Ltd
Tata Steel Limited
Axalta Coating Systems India Private Limited
Textron India Private Limited
Tata Steel Long Products Limited
Givaudan
Infrastructure / Real Estate
Godrej Agrovet Ltd
Gera Developments
Godrej Industries Limited
GMR Group
HM Clause India Pvt. Ltd
Godrej Properties Limited
© 2022 Deloitte Touche Tohmatsu India LLP.
KEC International
2022 Workforce and Increment Trends Survey Results (Phase 1)
83
Participant List – Manufacturing
Oil and Gas
Renewables
Baker Hughes
Aditya Birla Renewables Ltd
Cairn Oil & Gas
ENEL Green Power Ltd
Indian Oil - Total India Pvt
Fortum India Private Limited
Nayara Energy Limited
ReNew Power
THINK Gas
Sterling & Wilson Solar Pvt Ltd
Power
Virescent Infrastructure Pvt Ltd
Adani Electricity Mumbai Ltd
Other – Manufacturing
CG Power and Industrial Solutions Limited
Aditya Birla Grasim (Pulp & Fibre )
Intellismart Infrastructure Private Limited
Fischer Building Materials
L&T Power
Polycab India Ltd.
Nava Bharat Ventures Ltd
RDC Concrete
ONGC Tripura Power Company Limited
Sterling & Wilson CoGen Pvt. Ltd
Sterling & Wilson Powergen Pvt Ltd
VKL Seasoning Pvt Ltd.
Sterlite Power Transmission Ltd.
Conglomerates
Talwandi Sabo Power Limited
Adani Group
TATA Power Delhi Distribution Limited
Aditya Birla Group
Torrent Power
Century Group
Larsen & Toubro
Piramal Enterprises Ltd
Sterling and Wilson Group
Tata Group
© 2022 Deloitte Touche Tohmatsu India LLP.
Vedanta Limited
2022 Workforce and Increment Trends Survey Results (Phase 1)
84
Participant List - Services
Development
Engineering Consulting (Contd.)
Hospitals
321 Education Foundation
CSA Group
Aster DM Healthcare
Akanksha Foundation
DB Engineering
IHH Healthcare
Care India
L&T Hydrocarbon Engineering
Max Healthcare
Central Square Foundation
McDermott
Rainbow Children's Medicare Limited
Leadership For Skilled Education Foundation
Ramboll India Pvt Ltd
Reliance Hospital
Peepul India
SBM Nauvata Pvt Ltd
Tata Trust Hospital
Reliance Foundation
Sterling & Wilson Services Pvt Ltd
Professional Services
Smart Power India
T.EN Global Business Services Pvt Ltd
Boston Consulting Group
Srinivasan Services Trust
TATA Consultancy Engineering
Ergo Talent Solutions
The Nudge Foundation
Technip Energies
Gartner Inc
National Skill Development Corporation
WSP Consultants India Private Limited
Technopak
SOS Children Village of India
Hospitality / Restaurants
Retail
Engineering Consulting
Ascott
Aditya Birla Fashion & Retail
AECOM India Private Limited
Concept Hospitality
ASICS and ASICS INDIA Private Limited
Afcons Infrastructure Ltd
Four Seasons Hotel Mumbai
Benetton India Pvt Ltd
Air Liquide
InterContinental Hotels Group
Bestseller India
Aker India
ITC Hotels
Landmark Group
Arup India Pvt. Ltd.
Lemon Tree
Lenskart Solutions Private Limited
Atkins
Marriott International
Levi Strauss & Co.
Bechtel India Pvt. Ltd.
Oberoi Hotels
Modenik (Dixcy).
Burns & McDonnell India
Sarovar Hotels
More Retail Private Limited
Buro Happold Engineers India Pvt Ltd
The Indian Hotels Company Limited
© 2022 Deloitte Touche Tohmatsu India LLP.
The Leela Hotel
2022 Workforce and Increment Trends Survey Results (Phase 1)
85
Participant List - Services
Retail (Contd.)
Numero Uno
Pearl Global
Other – Services
BLUE DART Express Ltd
Celebi India Pvt Ltd.
Hindustan Times Media Limited
Indian Public Schools Society - The Doon School
Inmobi
JLL
Pathways School
Priceline
PVR Limited
The Great Eastern Shipping Co. Ltd
United Airlines
Zee Entertainment Enterprise Limited
Telecom and Ancillaries
ATC Towers
Indus Towers Limited
Tata Communications Limited
Tata Communications Transformation Services
© 2022 Deloitte Touche Tohmatsu India LLP.
2022 Workforce and Increment Trends Survey Results (Phase 1)
86
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL
and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see
www.deloitte.com/about for a more detailed description of DTTL and its member firms.
This material is prepared by Deloitte Touche Tohmatsu India LLP (DTTILLP). This material (including any information contained in it) is intended to provide general information on a
particular subject(s) and is not an exhaustive treatment of such subject(s) or a substitute to obtaining professional services or advice. This material may contain information sourced
from publicly available information or other third party sources. DTTILLP does not independently verify any such sources and is not responsible for any loss whatsoever caused due to
reliance placed on information sourced from such sources. None of DTTILLP, Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte
Network”) is, by means of this material, rendering any kind of investment, legal or other professional advice or services. You should seek specific advice of the relevant professional(s)
for these kind of services. This material or information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any
decision or taking any action that might affect your personal finances or business, you should consult a qualified professional adviser.
No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person or entity by reason of access to, use of or reliance on, this material. By using this
material or any information contained in it, the user accepts this entire notice and terms of use.
© 2022 Deloitte Touche Tohmatsu India LLP. Member of Deloitte Touche Tohmatsu Limited