Indian firms projecting 7.7% salary hike in 2021: Survey

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New Delhi, Feb 23 | India Inc is likely to provide a salary hike of 7.7 per cent in 2021, indicating a strong economic recovery, said a survey on Tuesday.

The study by global professional services firm Aon analysed data across 1,200 companies from more than 20 industries.

About 88 percent of the surveyed companies reported that they intend to increase salaries in 2021, reflecting positive business sentiment.

“We expect the increment dynamics for 2021 to play out over a longer period of time given the uncertainty and potential impact of forthcoming changes,” Nitin Sethi, Partner and CEO of Aon’s performance and rewards business in India, said in a statement.

Despite a tough 2020 with stringent lockdowns, India continues to project the highest salary increases among the BRIC (Brazil, Russia, India, China,) nations, said the report.

The highest-paying sectors in 2021 continue to be the ones from last year – information technology, information technology enabled services, life sciences, e-commerce and fast-moving consumer goods, according to Roopank Chaudhary, Partner in Aon’s Human Capital Business in India.

“It’s notable that the sectors that were adversely impacted by Covid-19, such as retail, hospitality and real estate, are projecting healthy increases in the range of 5-6 per cent. Such numbers reflect their intent to stay relevant and to control attrition, which had increased for these industries last year.”

However, it is also possible that some of the salary increments may not translate into higher cash-in-hand for employees if organisations choose to pay higher provident fund contributions on the new definition of wages, Sethi said.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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