How Should Our 18-Year-Old Company Handle Annual Salary Increments? Seeking Advice on Current Trends

Dear Seniors,

Please advise us on the industrial annual increment trends in percentage. What is the percentage of general increment in the current scenario?

How should an 18-year-old Indian company with more or less 70 employees give an annual hike (in percentage) to its employees? We are a company with more or less 2,50,000 salaries per month.

For example:
Salaries per month * Year = Salaries per year
Rs.2,50,000 * 12 = Rs.30,00,000
If the annual increment is 12% overall:
Salaries per month + 12% increment * Year = Salaries per year
Rs.2,50,000 + Rs.30,000 * 12 = Rs.33,60,000

I want to know what the current overall percentage for companies' annual increments is.

Please send us any links, supporting documents, surveys conducted, or any kind of related literature at jagdishraoc@gmail.com.

Regards,
Jagdish

JagguuBhai,

Increments are given as per the performance of the business and profit earnings. You have to set off one budget and then divide it into different classifications of salary grade slabs for management and workers.

Then, you have to decide on the rationale or logic of which budget shall be allocated to which department according to their contribution to profit-making and in what category of grades what percentage will be distributed for actual performance grades A, B, C, D.

This method will be useful.

Badlu