Salaries in the country will increase by more than 9 percent, with the manufacturing sector leading the way.

Jobs in India: The country’s economy is developing rapidly. Balanced inflation, stability in interest rates and rising industrial production figures bear witness to this. In such a situation, the working class of the country is also optimistic that it will also get the benefit of this situation. In the year 2024, the workers can get good news. This year, they can get a salary increase of around 9.5 percent. However, this is slightly lower than last year’s figure of 9.7 percent.

The largest increase will be in the manufacturing sector.

A survey by global professional firm Aoun claims that salary increases for working people will be good this year. It is said to be the largest and most detailed survey in the country. Data was collected from 1414 companies in 45 sectors. What was interesting was that the manufacturing sector is giving the highest salary hike at 10.1%. This indicates that the production in the country is going to increase in a big way. This is followed by a salary increase of 9.9 percent in life sciences and financial services.

In the year 2023, the attrition rate decreased.

Survey data shows that the attrition rate has decreased from 21.4 percent in 2022 to 18.7 percent in 2023. It is clear from this that the number of jobs in the job market is good. In addition, there is still competition. Companies benefit from reduced attrition rates. He is able to use his resources properly. This increases their capacity. Apart from this, their productivity also increases.

Companies want to retain talent.

Roopnik Chaudhary, chief commercial officer, Wool India, said that due to the improvement in the economy, various sectors are moving forward. He wants to keep the talent with him. So, there is full hope that the salary increase will be good. Although the world is in a recessionary environment, the situation in India is quite the opposite. Infrastructural and manufacturing industry will be boomed and huge investment will also come. Jang Bahadur Singh, director of the company, said that the attrition rate was high in the year 2023. Now companies are ready to give good increments to employees to retain them in 2024.

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