<table style="float: left; width: 100%;"><tbody><tr><td style="text-align: center;"><img src="https://static.gujaratsamachar.com/content_image/content_image_b026f243-2466-4878-9e39-eb94319dc31c.jpeg" data-filename="202403063128181.jpg" style="width: 100%;"></td></tr><tr><td class="tr-caption" style="display: flex;justify-content: center;scale: 0.8;">Source: IANS </td></tr></tbody></table> Employees in India are expected to get an average salary increase of 9.6% in 2024, similar to the actual increase in 2023, a new report said on Mar 6.&nbsp;According to the EY ‘Future of Pay 2024’ report, overall attrition dropped to 18.3% in 2023 (from 21.2% in 2022) and is set to gradually decline over the next few years as companies prioritise cost management and employee well-being, stabilising the workforce amidst high talent demand.“While overall average salary increase in India inc holds steady compared to last year, certain sectors such as e-commerce, financial services and professional services firms are poised for significant pay raise in 2024,” said Abhishek Sen, partner and leader, EY India.E-commerce is expected to have the highest salary growth in 2024, at 10.9%, followed by financial services, with a projected growth of 10.1%. Professional services’ salary is set to grow by 10% this year, according to the report.Moreover, the report mentioned that 35% to 40% of the technology workforce is made up of digital talent, a figure that is expected to become more crucial in the future.Among digital skills, Artificial Intelligence (AI), Machine Learning (ML), and Blockchain skills are highly sought-after, commanding a premium in the range of 30% to 50%.“Going forward, organisations will harness the transformative power of AI to craft bespoke benefits packages, optimise reward procedures, and elevate overall employee satisfaction at the workplace,” Sen said.About 80% of the organisations highlighted the importance of “pay and benefits” and a need to move away from traditional employee benefits in the modern workforce.The top three areas of focus for employers are benefits cost planning (43%), employee wellness (29%), and evaluating and aligning with industry standards (20%).(Source: IANS)-Edited for styleAlso read:<a href="https://english.gujaratsamachar.com/news/national/salaries-in-india-to-increase-by-9-5-in-2024-infra-manufacturing-sectors-lead" style="color: inherit; font-family: Poppins, sans-serif; font-size: 16px; background-color: rgb(255, 255, 255);"></a><a href="https://english.gujaratsamachar.com/news/national/salaries-in-india-to-increase-by-9-5-in-2024-infra-manufacturing-sectors-lead" target="_blank">Salaries in India to increase by 9.5% in 2024; infra, manufacturing sectors lead</a><a href="https://english.gujaratsamachar.com/news/national/salaries-in-india-to-increase-by-9-5-in-2024-infra-manufacturing-sectors-lead" target="_blank"><a href="https://english.gujaratsamachar.com/news/international/foreign-workers-will-need-salary-of-over-30-000-pound-to-enter-uk" style="color: inherit; font-family: Poppins, sans-serif; font-size: 16px; background-color: rgb(255, 255, 255);"></a></a><a href="https://english.gujaratsamachar.com/news/international/foreign-workers-will-need-salary-of-over-30-000-pound-to-enter-uk" target="_blank">Foreign workers will need salary of over £30,000 to enter UK: Report</a><a href="https://english.gujaratsamachar.com/news/international/foreign-workers-will-need-salary-of-over-30-000-pound-to-enter-uk" target="_blank"><a href="https://english.gujaratsamachar.com/news/national/survey-states-average-annual-salary-of-indian-cities-shocking-city-tops-the-list" style="color: inherit; font-family: Poppins, sans-serif; font-size: 16px; background-color: rgb(255, 255, 255);"></a></a><a href="https://english.gujaratsamachar.com/news/national/survey-states-average-annual-salary-of-indian-cities-shocking-city-tops-the-list" target="_blank">Average annual salary of India ₹18.9 lakh, no city from Gujarat in top 10; shocking city tops the list</a>

According to the EY ‘Future of Pay 2024’ report, overall attrition dropped to 18.3% in 2023 (from 21.2% in 2022) and is set to gradually decline over the next few years as companies prioritise cost management and employee well-being, stabilising the workforce amidst high talent demand.

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Indian workers likely to get average salary hike of 9 6% this year: Report

Indian workers likely to get average salary hike of 9.6% this year: Report

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