You are not alone if you are not happy with your salary. According to sources, 29 percent of the workforce in India is only satisfied with their paychecks. Others are preparing for the annual ritual of asking for a hike as the cost of living is increasing. This data is according to the report by the Association of Chartered Certified Accountants.
81 percent of people in India are about to ask their employers for a salary hike over the next year. This is because inflation is increasing in India and globally. Only 27 percent of employees said that they are satisfied with their salary. Millennials are most likely to ask for a salary hike compared to others.
With 68 percent of employees expecting a hike of at least 10 percent against 37 percent across the globe. Gen X workers recorded the highest expectations at 76 percent, followed by Millennials at 55 percent and Gen Z at 60 percent, according to a report.
Compensation is also an important factor that young professionals are prioritising. Also, according to the report, mid-career professionals are giving importance to meaningful work and pay. Employers are going to face pressure on employee retention strategies along with rising salary expectations from employees.
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