Demonetisation did not impact job increments in FY17
Speculations were rife post November 2016; about the impact of cash recall on the hiring prospects and a steep decline in the job market was highly expected
Photo Credit : Subhabrata Das
Demonetisation did not impact this year's increments in spite of all speculations to the contrary as companies doled out as much as 20 percent to key talent in the appraisal process, according to a survey by Antal International Network India.
The survey covering 2,329 decision makers at mid and senior levels analysed benchmarking data and key insights on appraisal trends across disciplines.
Speculations were rife post November 2016; about the impact of cash recall on the hiring prospects and a steep decline in the job market was highly expected.
Although the job market did seem to be lacking a bit slack at the start of 2017, it picked up pace gradually. The survey noted that 85 per cent respondents said demonetisation did not impact this year's increments at all in spite of the speculations.
Logistics and engineering sectors were offered the highest increment of 20 per cent whereas retail saw the lowest of 5 per cent followed by telecom and BFSI.
HR professionals in FMCG, BFSI, engineering and retail got maximum increments of 15-20 per cent whereas e-commerce saw the lowest rise at 7 per cent.
Marketing professionals in advertising were given the highest increment of 20 per cent while the telecom sector saw the lowest hike handed out to marketing professionals.
Supply chain professionals from the healthcare industry received the highest increment of 24 per cent followed by logistics. The manufacturing sector offered the lowest increase to marketing professionals. Engineers and manufacturing professionals in power were given the highest increment of 20 per cent whereas auto featured in the lowest of increments of 2 per cent.