Salary increments likely in 2021 despite rising Covid-19 cases. But there is a catch

The overall job market mood has turned gloomy due to rising Covid-19 cases, but a majority of companies suggest they will give salary increments to employees in 2021.

The second wave of Covid-19 may derail economic growth in the first quarter of FY22, but the is unlikely to impact salary increments in 2021. A recent survey has indicated that many companies in the country are intending to give increments to their employees in 2021. Staffing company Genius Consultants said that the overall growth rate is “impressive” and the market is expected to be stable for the time being. The staffing company also said that 59 per cent of companies surveyed will give salary increments to their employees besides strengthening the overall workforce. The survey was conducted online and 1,200 companies participated in it during February and March across various sectors.