Increment Report 2024

Increment Pattern - 2024

OMAM Consultants is proud to unveil the “Increment Pattern – Way Forward for Addition 2024”, a seminal report spotlighting the salary increment and attrition trends across over 100+ esteemed Indian Business Houses and Multinational Corporations in 15 diverse industries. Featured in The Economic Times on February 20th, 2024, our study offers unparalleled insights into the robust dynamics of the Indian economy and workforce strategies.

Conducted in January and February 2024, our analysis encapsulates the vibrant economic activities and strategic movements within sectors, providing a solid foundation for organizations to sculpt their compensation budgets and enhance workforce resilience.

Fewer workers exit India cos on global economic woes; attrition rate improves in 2023

According to the survey conducted by OMAM, the overall attrition rate witnessed a significant improvement, decreasing by almost 20% to 13.75% in the past year from 17.09% in 2022. Industries such as e-commerce (11.3%) and FMCG (11%) emerged as frontrunners, closely followed by pharmaceuticals, chemicals, and automobiles (10%), offering the most substantial salary hikes. Notably, the auto industry’s pay hike landscape is anticipated to remain unchanged from 2023.

We are confident that this report will prove invaluable and insightful for your organization. Should you have any queries or require further clarification, please do not hesitate to reach out directly.