Team Blitz India
NEW DELHI: India’s information technology (IT) sector is projected to have an average salary hike between 8.4 to 9 per cent, according to a study.
This was stated by Munira Loliwala AVP, Strategy and Growth,Teamlease,in the Teamlease Digital report quoted by theEconomic Times. The IT industry, long regarded as a key contributor to the country’s economic growth, is expected to witness a more cautious approach to compensation and recruitment strategies.
This marks a slight dip from the previous year’s average increments of 8.5% to 9.1%. Loliwala said that most companies are likely to defer salary hikes until the end of the first quarter of the fiscal year, deviating from the traditional practice of implementing increments in April.
He added that the emphasis in the IT sector is on maintaining a stable workforce, indicating that the industry may experience flat or even negative growth in terms of employee numbers this year..
