Fewer than ten per cent of the companies have given double digit increments, according to the report.
The proportion of employees whose performance is rated below average has gone up amid falling revenues and deferred increment
The proportion of employees whose performance is seen to be above average is also seen to fall in the current financial year ending March 2021 (FY21). The data is based on Deloitte
Touche Tohmatsu India’s 2020 Workforce and Increment
Trends Survey Results (phase II). More people are also being rated average shows the data (See chart 1).
“While more organisations are now comfortable in putting more employees below the “meets expectations” category, increment
differentiation between the top and average performers continues to be the same as in 2019. The consumer products industry has been more aggressive in sharpening the bell curve, while the life sciences sector has made minimum changes,” said the report.
It added that fewer companies
have decided to give out increments at all. Only four out of ten have taken the decision to pay employees higher than before. Over a quarter of companies
are still undecided on increments, according to the report (see chart 2).
Fewer than ten per cent of the companies
have given double digit increments, according to the report. Those that had their increment cycle close before the lockdown gave higher increments.
Touche Tohmatsu India 2020 Workforce and Increment Trends Survey Results (phase II)