“Organisations that had already decided their increments before the start of the lockdown in March 2020 have given a higher increment compared with others. Moreover, organisations expecting a decline of over 20 pc in revenue in FY 2020-21 due to COVID-19 have given much lower increments,” said the survey.

 The second phase of the 2020 Workforce and Increment Trends survey was launched in June 2020 as a B2B India-specific one. About 350 organisations participated in the survey.

 “Only 4 of the 10 surveyed companies in India have given an increment in 2020 and 33 per cent companies have decided not to give an increment at all. The remaining firms are still undecided. So, for 2020, average increment at 3.6 pc is less than half the increment of 8.6 pc that employees received in 2019. This number is the lowest in decades,” the survey said.

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