2020 Deloitte India Workforce and Increment Trends Survey

2020 Deloitte India Workforce and Increment Trends Survey
Participant Report | March 2020 | Contact us at inrewards@deloitte.com

About the 2020 Deloitte India Workforce and Increment Trends Survey
07 22
Sectors Sub-Sectors
The 2020 DeloitteSub-Sectors

India Workforce and Increment Trends Survey will help organizations assess the
changing human capital dynamics and take well-informed data-backed decisions. The survey incorporates
India-specific insights and market trends on Workforce Composition, Actual and Projected Salary
Increments, Approaches to differentiated increments and other elements within rewards.
© 2020 Deloitte Touche Tohmatsu India LLP 2

Participant Profile
% of companies by sub-sector
8.2%
7.8% 7.8%
7.1%
5.9%
4.5% 4.5% 4.5% 4.5%

3.7% 3.7% 3.7% 3.7%
3.3%
3.0%
2.6% 2.6% 2.6% 2.6%
2.2% 2.2%
1.9%
% of companies by sector
29.4%
17.5%
13.8% 13.4%
10.0%
7.8% 8.2%

IT ITeS Financial Services Manufacturing Services Life Sciences FMCG/FMCD
*IT products includes E-Commerce and early stage companies
Survey Methodology and Timelines
Design Invite Collect Analyze Report

The scope of the study Invitation to take the The responses received Survey data was The 2020 Deloitte India
was finalized and a online survey was sent in the survey were analyzed to draw Workforce & Increment
questionnaire was to Human Resources validated for accuracy & insights on emerging Trends Survey Report
professionals across intended interpretation workforce & increment was released to all
designed as a primary organizations in wherever required trends in India participating
data collection tool different industries organizations
Dec 2019-Jan 2020 Jan 2020 Jan 2020-Feb 2020 Feb 2020-Mar 2020 Mar 2020

Contents
Level of Appendix
Increment
Increment Other Rewards

Differentiation
Workforce
Snapshot

Contents
Level of Appendix
Increment

Differentiation
Workforce
Snapshot

India, along with China, has led global economic growth for decades but that growth
has fallen sharply
Share of Global GDP (PPP Adjusted) Real GDP Growth (% y-o-y)

25
10.4%
10.0%
9.8%
20
7.6%
15 6.9% 7.1%
6.1%
5.7%
5.5%
4.8%
10
3.1% 3.2%
2.3% 2.3%
5 1.9%
0
1980 1985 1990 1995 2000 2005 2010 2015 2020 China India USA
China India USA 1980s 1990s 2000s 2010s 2019e
While the slowdown has been broad-based, it has primarily been led by the manufacturing sector on the supply side and both, private consumption and
investment, on the demand side. Real GDP growth has been falling consistently this financial year and there are downside internal and external risks to real
GDP growth forecasts.
Source: IMF, World Economic Outlook

Organizations have responded by decreasing salary increments
2019 Actual Increment

8.2% 7.3% 6.9%
2020 Projected Increment
7.8% 7.1% 6.8%
Overall India Headcount Weighted Headcount Weighted Average
Average Increment Average Increment Increment (Excluding IT/ITeS)
% of companies by level of % of companies by change in increment

2020 projected increment (2020 projected vs 2019 actuals)
7%
20% • Less than 10% of the organizations reported a

46% 43% 2020 projected increment of greater than 10%
47%
• 1 out of every 4 organizations reported a drop in
2020 projected increment of over 1%
37%
• Only 13% organizations reported an increase in
Less than 8% Increase in Increments 2020 projected increment of over 1%
Between 8% - 10% No Change in Increments
Above 10% Decrease in Increments
The recent decoupling of Real GDP growth and Inflation
Real GDP Growth, Inflation & Policy Rates RBI’s Households’ Inflation Expectations Survey
8.0% 10.0%
9.1%
7.4% 9.0% 8.7%
7.0% 8.0% 8.2%
7.8% 7.9%
8.0% 7.4% 7.5%
6.0% 5.6% 5.75%
5.40% 7.0%
5.1% 5.15%
5.0% 4.7% 6.0% 5.5%
5.0% 4.6%
4.0% 4.0% 4.0%
4.0% 3.2% 3.1% 3.3%
3.2% 2.9% 3.0% 3.0%
3.0% 3.0%
2.0%
2.0%
1.0%
1.0%
0.0%
0.0%
1Q FY 2019-20 2Q FY 2019-20 3Q FY 2019-20
Real GDP Growth (%, y-o-y) Repo Rate - Period End (%) CPI - Period End (%, y-o-y) CPI (%, y-o-y) Households' Current Inflation Expectation (%, y-o-y)
• While real GDP growth has been trending lower, headline inflation (CPI) has been steadily increasing and is now above the RBI’s upper tolerance level of
6% (4.0% +- 2% being the overall tolerance band)
• The RBI has responded by reducing the key policy rates to support growth over the last few quarters (Repo rate at a 10-year low)
• Households’ inflation expectations have also increased between March 2019 & January 2020 as per the survey conducted by RBI
Source: National Statistical Office, Reserve Bank of India, Deloitte

Falling increment and high actual / expected inflation implies falling / negative real
salary growth in India
Salary Increment less CPI Current Inflation Expectations Salary Increment less
Period Average Salary Increment (A) CPI Inflation (%, y-o-y) – B
(A less B) (RBI’s Households’ Survey) – C Inflation Expectations (A less C)
2019 8.2% (Actual) 2.9% 5.3% 8.0% 0.2%
2020 7.8% (Projected) 7.5% 0.3% 8.7% -0.9%
Notes:
For 2019 and 2020, CPI Inflation and Inflation Expectations data corresponds to March 2019 and January 2020 respectively (latest available, provisional included)
Salary increment (Actual for 2019 and Projected for 2020) is from Deloitte’s 2020 Workforce and Increment Trends Survey
• So far this year, the Indian economy has witnessed an unfavorable mix of falling real GDP growth and rising inflation
• While the jump in headline inflation was primarily triggered by rising food inflation, it reduces the purchasing power of employees, particularly at a
relatively junior level
• As organizations align increments with real GDP growth trends, the misalignment with inflation could lead to falling / negative real salary growth in India
(a problem that young India is not particularly used to)
Source: National Statistical Office, Reserve Bank of India, Deloitte

Increment by Types of Organizations

Manufacturing industry shows the sharpest dip in salary increments
2019 Actual Increment

8.2% 7.3% 6.9%
2020 Projected Increment
7.8% 7.1% 6.8%
Overall India Headcount Weighted Headcount Weighted Average
Average Increment Average Increment Increment (Excluding IT/ITeS)
8.2% 7.4% 9.4% 8.9% 8.2%

8.9% 7.1%
8.4% 7.2%
7.7% 7.1% 9.2% 8.7% 7.1%
Manufacturing
FMCG/FMCD Financial Services IT ITeS Life Sciences Services
The 2020 projected average salary increment in India has dropped by 40 bps compared to actual salary increment in 2019. Adjusted for company size
(measured via headcount), 2020 projected increment decreases to 7.1 percent implying that larger organisations are being more cautious with respect to
increments. And while the 2020 projected increment is lowest in Services, the fall in increment is the highest in manufacturing reflecting the state of economic
activity in the sector.
For more information, click on Overall India Average Increment
2019 Actual Increments 2020 Projected Increments

©2020 Deloitte Touche Tohmatsu India LLP. 12
IT Products is now the only industry cluster offering double digit salary increments
Information
Financial Services Manufacturing Services
Technology (IT)
9.5% 7.6% 9.0% 8.9%
10.8% 7.9%
8.2% 6.5% 8.3% Life 8.4%

10.4% General 7.8% Chemicals Metals & Mining Hospitality Sciences
Insurance
IT Products*
7.6% 9.5% 7.6% 6.6% 8.2%

7.4%
Life 7.7% Energy 7.8% 6.0% 7.1% FMCG/
7.7%
Infra/EPC/ Engineering
IT Services
7.4% Insurance
Real Estate Consulting FMCD
Information Technology 7.7%

Enabled Services(ITeS)
7.2% 7.8%
7.1% 7.0%
9.3% Mutual Fund Engineering 7.5% Retail
Manufacturing
ITeS KPO 9.0%

and Captives
5.8%
6.9% 8.1%
Telecom & 6.2%
7.9% 7.1% Automotive 7.3%
Producers Ancillaries
Banks
8.0%
ITeS – Third
Party BPO 7.3% 7.1%
For more information on each sector/sub-sector, click on the
sector/sub-sector name
6.0% 7.0%
Automotive
NBFC Suppliers Sub-Industry with highest 2020 increment projection
Sub-Industry with lowest 2020 increment projection

©2020 Deloitte Touche Tohmatsu India LLP. 13
*IT products includes E-Commerce and early stage companies 2019 Actual Increments 2020 Projected Increments
The Mid tier companies have faced the largest dip in salary increments
Impact on Increment By 2018-19 Revenue Clusters Impact on Increment - By 2019 Headcount Clusters
Change in 2020 Projected Increment (vs 2019 Actual Increment) Change in 2020 Projected Increment (vs 2019 Actual Increment)
0.0% 0.0%
-0.1%
-0.2% -0.1% -0.2%
-0.2%
-0.4% -0.4%
-0.5%
-0.6% -0.6%
-0.7%
-0.8% -0.8% -0.8%
-0.8%
-1.0% -1.0% -1.0%
-1.2% 8.2% 7.1% 7.4% 7.2% -1.2% 7.8% 8.1% 8.0% 7.3%
Less than 1,000 CR 1,000 to 4,000 CR 4,000 to 10,000 CR Above 10,000 CR Less than 500 500 to 1,000 1000 to 5,000 Above 5,000
• The fall in 2020 projected increment has been the highest in the mid-range firms (both in terms of revenue as well as headcount)
• While absolute level of projected increment in SMEs is still similar to that of large-sized organizations, the drop is more substantial
• Larger organizations have traditionally offered greater job security and internal cross-mobility opportunities. If increments in SMEs continue to decrease,
the risk of future attrition will increase as employees may prefer stability and safety
2020 Projected Increments

Is Economic Slowdown the only factor affecting salary increments?
Top Factors Affecting Salary Increment Budgets in India
Factors affecting salary increments in India can be clubbed under two broad categories –
performance and competitiveness. The responses suggest that increments in India are still
largely backward looking as last year’s performance guides next year’s increment budgets
9%
% of companies 28%
42%
46%
50%
Attrition
Expected Company
Performance
Competitiveness
Of Pay
Last Year’s Company
Performance
Market Salary
Increase
Level of Appendix
Increment

Differentiation
Workforce
Snapshot

Individual performance takes centre-stage in determining increment differentiation
Prevalence of different individual increment

differentiation factors (% of Total)
A
90% While last year’s performance
continues to be the key determinant
B Individual Performance for salary increments, 1/3rd of the
Rating companies use a forward-looking
C
metric like Potential for determining
D increments
34%
Potential 1 out of every 3 companies is also
differentiating increment by levels
of management. As increments
reduce, grade-based differentiation is
33% also likely to come down
Management
Level Organizations also focus on fairness
of pay while deciding increment, i.e.,
they give a much higher increment to
27% employees who are significantly

underpaid in their current role
Current Vs Target
Compensation

More employees are being rated as “Average” or “Meets Expectations”
Overall India Population Distribution (2019 vs 2018) 1.7X
(figures in brackets) denote change from 2018 57.9% 1.4X

(+1.0%)
X
23.4%
(-0.7%) 9.1%
(-0.1%)
7.1%
(-0.2%)
2.4%
(+0.1%)
Significantly Exceeds Meets Below Significantly

Exceeds Expectation Expectation Expectation Expectation Below Expectation To manage overall cost budgets,
organizations reward top performers
disproportionately. On an average, top
Performance performers get 1.7 times the pay
1.7 1.4 1.0 0.4 0.1
Multiplier increment given to average performers
Performance Multiplier- Multiplier for each rating is calculated by dividing the salary increment for each
category byDeloitte
© 2020 Meets Expectation
Touche Tohmatsu Indiacategory
LLP which is considered at to be at 1 or X. Significantly Exceeds Expectation 18
performer will get 1.7 times the increment than average performer
Performance based differentiation continues to be high in service based industries
Increment
1.83 differentiation
1.77 1.75 1.72 1.69 1.68 between
“Significantly
1.50 Exceeds
Expectations”
and “Meets
Expectations”
Average Performer (1.0)
Increment
0.44 0.44 differentiation
0.38 0.39 between “Below
0.32 0.33
0.26 Expectations”
and “Meets
Expectations”
IT FMCG / FMCD Financial Services Services ITeS Manufacturing Life Sciences
While all industries differentiate increments basis individual performance, service based industries tend to differentiate more than
manufacturing based industries. IT Product companies use the highest range or the most aggressive differentiation curve, i.e. they offer the
least increment if the employee is not meeting expectations and also the highest increment to top performers across industries.
Performance Multiplier- Multiplier for each rating is calculated by dividing the salary increment for each category by Meets Expectation category.
An employee rated “Significantly Exceeds Expectations” will get 1.7 times the increment that the average performer / receives.`
*IT products includes E-Commerce and early stage companies

Organizations are adopting forward looking measures such as Potential to
determine increments
Increment
1.91Differentiation 1.64
for employees classified as High Potential
1.70 1.58
1.53
1.9
1.7 1.6 1.7 1.7 1.6 1.6
1.5
Overall India FMCG / FMCD Financial Services IT ITeS Life Sciences Manufacturing Services
Considering performance is a backward looking measure, organizations in India are also using Potential to differentiate increments
between employees. Majority of the companies use a combination of performance and potential, rather than using it as standalone metric.
IT Industry differentiates increments the most for a high potential employee (1.9 times the increment for an average potential employee)

Differentiation- Differentiation has been calculated by dividing increments for high potential with medium/average potential
While top management employees get a lower increment, not all companies
differentiate increments by levels of management
Organization Pyramid for Overall India 2020 Projected Increment and Differentiation
Increments Differentiation*
1%
1% Top Management 6.8% 0.66
6%
6% Senior Management 7.2% 0.81
22%
22% Middle Management 7.6% 1.00
71% Junior Management

71% 8.0% 1.16
and Others
While only 33% of the companies differentiate salary increments by levels of management, Top/senior management employees get two-
thirds of the increment given to middle management employees in these companies to optimize cost. We must note that at these levels
compensation is structured more through incentive programs. Not all companies differentiate increments by management level (for those
companies we used 1 as the differentiating factor across all management levels).
*Differentiation- Differentiation for each level is calculated by dividing it by Middle Management Level which is considered at to be at 1.0
Differentiation of salary increments by levels is the least in services oriented
companies
Junior Management Difference b/w Top &

Sector Overall Top Management Senior Management Middle Management
and Others Junior Management)
Overall India 7.8% 6.8% 7.2% 7.6% 8.0% 1.2%
IT 9.2% 8.2% 8.7% 9.0% 9.3% 1.1%
ITeS 8.7% 7.9% 8.1% 8.5% 8.7% 0.8%
Life Sciences 8.4% 6.4% 7.0% 7.9% 8.7% 2.2%
FMCG / FMCD 7.7% 6.9% 7.1% 7.5% 7.8% 0.9%
Manufacturing 7.2% 6.0% 6.4% 7.0% 7.4% 1.4%
Financial Services 7.1% 6.3% 6.7% 6.9% 7.2% 0.9%
Services 7.1% 6.0% 6.2% 6.9% 7.2% 1.3%
Across industries, salary increments by levels of management follow a similar trend. Increments are higher at a mid/junior levels compared
to top / senior management.

Other factors affecting increments
On what basis does your organization Does your organization differentiate Do you differentiate increments between
differentiate across business units increments basis location of the employee Business and Support Functions
5% 13%
14%
17%
69%
87%
95%
BU Performance
No Yes No Yes
BU Life Cycle Stage
Other
• Larger organizations tend to differentiate increment budgets across different business units primarily by business unit performance
• Most organizations do not differentiate increments by the location of the employee (we believe that adjustment is likely to be reflected
in the quantum of pay to reflect the cost of living)
• Similarly, the rate of change of salary is not a function of whether the employee is part of the business or enabling function in most
cases

Contents
Level of Appendix
Increment

Differentiation
Workforce
Snapshot

Manufacturing and Services Industries are slightly heavier at the top
Financial IT ITeS Life Manufacturing Services

Overall India FMCG/FMCD
Services Sciences
Top
Management
1% 1% 1% 1% 1% 1% 2% 2%
Senior Management 6% 6% 7% 7% 4% 4% 6% 7%
Middle Management 22% 18% 20% 20% 16% 21% 25% 21%
Junior Management and Others 71% 75% 72% 72% 79% 74% 67% 70%

More than half the workforce across sectors are “Millennials”
Baby Boomer Gen X Millennials Gen Z

Overall India 2% 23% 62% 13%
ITeS 1% 8% 70% 21%
IT 1% 16% 66% 17%
Services 4% 24% 56% 16%
Life Sciences 3% 18% 68% 11%
Manufacturing 5% 31% 54% 10%
Financial Services 1% 26% 64% 9%
FMCG/FMCD 4% 28% 63% 5%
Baby Boomer : 1944-1964 ; Gen X : 1965-1979 ; Millennials : 1980–1994 : Gen Z : After 1994
Still a long way to go before we achieve gender balance at the workforce in India
Overall India
22% 78%
FMCG/FMCD 14% 86% 6
Financial
Services
23% 77% 5
IT 27% 73% 2
ITeS 34% 66% 1
Life Sciences 24% 76% 4
Manufacturing 12% 88% 7
Services 27% 73% 3
At an all-India level, there is just 1 female employee for every 3 male employees. Service oriented industries have a higher proportion of
female workforce as compared to manufacturing oriented industries. ITeS Industry ranks the highest in terms of gender diversity
Ranking
One fifth of total attrition is now involuntary in India
Attrition in 2019
26.8%
21.5% 21.1%
18.9% 6.6% 18.5% 17.9%
16.2%
3.8% 3.1%
12.1%
3.5% 2.5% 2.3%
2.5%
2.4%
20.2%
17.7% 18.0%
15.4% 16.0% 15.6%
13.7%
9.7%
Overall India Financial Services IT ITeS Services Life Sciences FMCG/FMCD Manufacturing
2019 Voluntary Attrition 2019 Involuntary Attrition
% of Involuntary Attrition to Total Attrition (2019)

Financial
Overall India IT ITeS Services Life Sciences FMCG/FMCD Manufacturing
Services
18.5% 24.6% 17.4% 14.7% 13.5% 13.2% 14.8% 20.3%
• Financial Services, IT and ITeS are the industries that have experienced the highest total attrition
• Over 30% of Total Attrition across NBFCs, Life Insurance and Auto Components is involuntary in nature

Total Attrition in 2019
Millennial and Gen Z Employees (% of Total)
Industries with a younger workforce fare relatively better at gender diversity
100%
ITeS
90%
IT
Life Sciences
80%
FMCG/FMCD
70% Financial Services
Services
60%
Manufacturing
50%
10% 15% 20% 25% 30% 35%
Female Employees (% of Total)
• We observe a positive link between the percentage of millennials and Gen-Z employees in the total white-collar headcount in companies and the percentage of
female employees in an organization
• Industries like ITeS, with a relatively high millennial and Gen Z population, have a higher proportion of female workforce as compared to older industries like
manufacturing where the baby boomer population is relatively higher
• This trend is in line with the overall labor market / social trend in India of a rising female labor force participation over the last few decades

High voluntary attrition witnessed in younger industries
95%
Millennial and Gen Z Employees (% of Total)
90% ITeS
85%
IT
80%
Life Sciences
75%
Financial
70% FMCG/FMCD Services
Services
65%
60% Manufacturing
55%
50%
9% 11% 13% 15% 17% 19% 21%
Voluntary Attrition Levels in 2019 (%)

• We observe a positive link between the percentage of Millennials and Gen-Z employees in the total white-collar headcount in companies and the percentage of
voluntary attrition levels. There are multiple reasons for the same
• Firstly, the younger generation tends to flock towards high growth industries which offer the opportunity to apply new-age skills. Secondly, given their life
stage as well as the job opportunities at hand, younger employees tend to switch jobs more frequently than their older counter-parts
• Given the slow growth and lower voluntary attrition levels, industries, particularly within manufacturing, do not always have enough opportunities
Level of Appendix
Increment

Differentiation
Workforce
Snapshot

Bell curve or not, performance ratings are still the most widely used tool to assess
and categorize individual performance
2% 4% • Approximately, 1 out of every 10 employees in India is

Other getting promoted each year
No Ratings But
Continuous
Feedback • The incremental promotional increase of 7.5% is similar to
the average salary increase of 7.8%
Performance
11.4% 11.1%
Ratings without
Bell Curve
Performance
Ratings with Bell
32%
Curve
62% 7.5%
% of prevalence of assessment of
individual performance
2018 2019
© 2020 Deloitte Touche Tohmatsu India LLP
% of incremental 32
% of employees promoted promotional increase
Companies are investing a lot more in key talent than just offering higher increments
13.5% Higher Percentile

Positioning
12.7%
Faster Promotions
Higher Stock Grant
Retention Bonus
Mid-Year Salary
2018 2019 Correction
% of employees classified as
key talent

Insights on Rewards Strategy – Overall India
Does your organization use a defined How does your organization differentiate Closest Primary Anchor to assess
target compensation positioning strategy target compensation positioning competitiveness of Pay
7%
26%
43%
41%
34%
59%
16%
74%
Total Fixed Pay Total Cost to Total Cost to

Both Level and Function Only Level Company Company
Yes No
excluding LTI including LTI
Only Function
Organizations that are using only function Total Fixed Pay is the primary anchor to
30% of companies that do not use a defined to differentiate target compensation
compensation positioning strategy are from assess competitiveness of pay for only 1 out
positioning are primarily from the IT/ITeS of 4 listed companies
the manufacturing sector industry

Insights on Incentive Plans – Overall India
Does your organization have any incentive Has your organization modified /
Frequency of Bonus Payout plan other than sales incentive and introduced any incentive scheme in the
variable pay plan last 12 months
8%
2%
6% 30% 69%
31%
84% 70%
Annual Bi-Annual
Yes No
Yes No
Monthly Quarterly
Companies are also using project based

An annual short-term incentive or bonus or incentives, production based incentives, Almost 3 out of every 10 companies has
variable pay plan continues to be the most cluster manager incentives, loyalty pay either modified or introduced an incentive
frequently used amongst companies across incentive plans (for those who have plan recently. Most of the companies
different sectors completed 3 years in the organization) modified their sales incentive plans
depending on the industry context

Level of Appendix
Increment

Differentiation
Workforce
Snapshot

Back to
Workforce and Increment Snapshot - Overall India page 12
Organization Pyramid Inter Gen Workforce Gender Diversity Attrition

Snapshot
3%
1% 6% 13% 15.4%
Snapshot
22%
23%
22%
Workforce
Workforce
71% 3.5%
78%
62%
2019
Top Mgmt Voluntary Involuntary

Sr. Mgmt Baby Boomers Gen X
Middle Mgmt Female Male
Millenials Gen Z
Junior Mgmt and other employees
Overall Salary Increment Salary Increment by Management Levels Bell Curve and Increment Differentiation
10.0%
57.9%
Increment Snapshot
8.2%
8.0% 23.4%
7.8% 9.1%
8.0%
7.6%
7.1%
7.2%
6.0% 2.4%
6.8%
4.0%
2.0%
2019 Actuals 2020 (Projections) Top Mgmt Sr. Mgmt Middle Mgmt Junior Mgmt Significantly Exceeds Meets Below Significantly
and Others Exceeds Expectation Expectation Expectation Expectation Below Expectation
1.7 1.4 1.0 0.4 0.1
Performance Multiplier
Information Technology (IT)

Back to
Workforce and Increment Snapshot - IT page 13

Snapshot
1% 17.7%
1% 7% 17% 16%
Snapshot
27%
20%
Workforce
Workforce
3.8%
72%
73%
66%
2019

Millenials Gen Z
10.0%
58.4%
9.4% 9.3%
Increment Snapshot
9.2%
24.6%
9.0% 7.7%
8.0%
8.7%
6.9%
6.0% 2.3%
8.2%
4.0%
2.0% Significantly Exceeds Meets Below Significantly

2019 Actuals 2020 (Projections) Top Mgmt Sr. Mgmt Middle Mgmt Junior Mgmt Exceeds Expectation Expectation Expectation Expectation Below Expectation
and Others
1.8 1.4 1.0 0.3 0.0

Back to
Workforce and Increment Snapshot - IT Products page 13

Snapshot
1%
1% 7% 18% 15.4%
16%
Snapshot
25%
21%
Workforce
Workforce
71% 3.0%
75%
65%
2019

Millenials Gen Z
12.0% 58.6%
10.8%
Increment Snapshot
10.4% 10.6%
24.8%
10.0% 10.3% 7.0%
6.9%
8.0% 9.7%
2.7%
6.0% 9.0%
4.0%
2.0% Exceeds Meets Below Significantly

Significantly
2019 Actuals 2020 (Projections) Top Mgmt Sr. Mgmt Middle Mgmt Junior Mgmt
Exceeds Expectation Expectation Expectation Expectation Below Expectation
and Others
1.8 1.4 1.0 0.3 0.0
*IT products includes E-Commerce and early stage companies Performance Multiplier
Back to
Workforce and Increment Snapshot - IT Services page 13

Snapshot
1%
2% 6% 16% 20.8%
16%
Snapshot
30%
17%
Workforce
Workforce
4.8%
75%
70%
67%
2019

Millenials Gen Z
10.0%
58.2%
Increment Snapshot
7.4%
24.4%
8.6%
8.0% 7.4% 7.4% 7.3%
7.0%
6.0% 7.1%
1.8%
7.0%
4.0%

Significantly
and Others
1.9 1.4 1.0 0.2 0.0
Information Technology Enabled
Services (ITeS)

Back to
Workforce and Increment Snapshot - ITeS page 13

Snapshot
0% 18.0%
1% 4% 8%
Snapshot
21%
16%
34%
Workforce
Workforce
66% 3.1%
79%
70%
2019

Millenials Gen Z
65.7%
10.0% 8.7%
Increment Snapshot
8.9% 8.7% 19.1%

8.5% 7.6%
8.0%
6.1%
8.1%
6.0% 1.5%
7.9%
4.0%

Significantly
and Others
1.7 1.4 1.0 0.4 0.1
Back to
Workforce and Increment Snapshot - ITeS – Third Party BPO page 13

Snapshot
1%
1% 3% 7%
19%
Snapshot
8% 24.1%
33%
Workforce
Workforce
67% 3.5%
88%
73%
2019

Millenials Gen Z
61.9%
Increment Snapshot
10.0%
7.8% 7.8%
22.0%
8.0%
7.4%
7.9%
8.0%
7.1%
6.0%
1.6%
7.0% 7.0%
4.0%

Significantly
and Others
1.7 1.4 1.0 0.4 0.2
Back to
Workforce and Increment Snapshot - ITeS KPO and Captives page 13

Snapshot
0%
1% 5% 8% 15.6%
Snapshot
21%
20% 33%
Workforce
Workforce
74% 2.8%
67%
71%
2019

Millenials Gen Z
67.3%
10.0%
Increment Snapshot
9.3%
9.0% 9.0%
17.6%
7.7%
8.8%
8.0%
5.8%
8.5%
6.0% 1.6%
8.3%
4.0%

Significantly
and Others
1.7 1.4 1.0 0.5 0.1
Fast Moving Consumer Goods/Durables
(FMCG/FMCD)

Back to
Workforce and Increment Snapshot - FMCG/FMCD page 13

Snapshot
5% 4%
1% 6% 14% 13.7%
Snapshot
18% 29%
Workforce
Workforce
75% 2.5%
63%
86%
2019

Millenials Gen Z
10.0% 59.3%
Increment Snapshot
8.2% 7.8% 22.8%

7.7%
10.0%
8.0%
7.5% 5.6%
6.0% 2.4%
7.1%
6.9%
4.0%

2.0%
and Others
1.8 1.4 1.0 0.3 0.0
Life Sciences

Back to
Workforce and Increment Snapshot - Life Sciences page 13

Snapshot
3%
1% 4% 11% 15.6%
Snapshot
18% 24%
21%
Workforce
Workforce
74% 2.3%
76%
68%
2019

Millenials Gen Z
63.7%
Increment Snapshot
10.0%
8.9% 8.7% 21.5%
8.4% 7.9%
9.5%
8.0% 7.0% 3.8%
6.4%
1.4%
6.0%
4.0%

2.0%
Top Mgmt Sr. Mgmt Middle Mgmt Junior Mgmt Exceeds Expectation Expectation Expectation Expectation Below Expectation
2019 Actuals 2020 (Projections)
and Others
1.5 1.3 1.0 0.4 0.1
Manufacturing

Back to
Workforce and Increment Snapshot - Manufacturing page 13

Snapshot
10% 5%
2% 6% 12%
Snapshot
9.7%
25% 31%
Workforce
Workforce
67% 2.4%
54%
88%
2019

Millenials Gen Z
54.5%
Increment Snapshot
7.4%
10.0% 7.0% 26.6%
6.4% 9.3%
8.2% 6.0%
8.0%
7.3%
7.2%
2.2%
6.0%
4.0%

2.0%
and Others
1.7 1.3 1.0 0.4 0.1
Back to
Workforce and Increment Snapshot - Manufacturing – Automotive Producers page 13

Snapshot
9% 3% 8%
1% 4% 8.7%
Snapshot
19% 26%
Workforce
Workforce
77%
0.5%
62%
92%
2019

Millenials Gen Z
10.0%
53.4%
Increment Snapshot
7.4%
23.5%
8.1% 6.7% 14.6%
8.0% 5.8%
7.3% 6.1%
5.0%
2.4%
6.0%
4.0%

2.0%
and Others
2.1 1.6 1.0 0.3 0.0
Back to
Workforce and Increment Snapshot - Manufacturing – Automotive Suppliers page 13

Snapshot
5% 9% 8.1%
1% 5% 17%
Snapshot
18% 26%
Workforce
4.0%
Workforce
76%
52% 91%
2019

Millenials Gen Z
10.0% 48.4%
Increment Snapshot
7.1% 30.4%
6.6% 8.6%
8.0% 5.8%
7.1% 7.0%
5.2%
10.4%
6.0%
2.3%
4.0%

2.0%
and Others
1.7 1.3 1.0 0.3 0.1
Back to
Workforce and Increment Snapshot - Manufacturing – Chemicals page 13

Snapshot
5% 6% 8%
2% 7% 10.0%
Snapshot
23%
Workforce
40%
Workforce
50% 2.8%
68%
92%
2019

Millenials Gen Z
59.6%
10.0% 9.5%
Increment Snapshot
8.2% 22.3%
8.2% 10.8%
8.0% 8.0%
5.5%
1.8%
6.0% 7.5%
7.3%
4.0%

2.0%
and Others
1.4 1.2 1.0 0.5 0.1
Back to
Workforce and Increment Snapshot - Manufacturing – Energy page 13

Snapshot
7% 5% 10.6%
1% 7% 12%
Snapshot
30%
Workforce
34%
Workforce
58%
2.5%
59%
88%
2019

Millenials Gen Z
10.0% 9.5% 63.0%

Increment Snapshot
7.6% 7.6% 13.4%

7.8%
14.0%
8.0%
5.5%
6.0%
4.2%
7.3%
7.2%
4.0%

2.0%
and Others
1.6 1.3 1.0 0.5 0.1
Back to
Workforce and Increment Snapshot - Manufacturing – Engineering Manufacturing page 13

Snapshot
4% 11.2%
2% 6% 8%
Snapshot
23%
30%
32%
Workforce
Workforce
60%
2.4%
58% 77%
2019

Millenials Gen Z
57.2%
Increment Snapshot
10.0% 8.1% 28.7%

7.4% 3.8%
6.6%
8.0%
7.8%
7.5% 5.8%
8.8%
1.5%
6.0%
4.0%

2.0%
and Others
1.6 1.3 1.0 0.4 0.1
Back to
Workforce and Increment Snapshot - Manufacturing – Infra/EPC/Real Estate page 13

Snapshot
3%
1% 6% 15% 16% 10.1%
Snapshot
26%
30%
Workforce
Workforce
63% 2.6%
56% 84%
2019

Millenials Gen Z
47.5%
Increment Snapshot
10.0%
6.1% 40.7%
5.4%
8.0% 7.6% 5.0%
5.9%
6.0% 1.4%
6.0%
5.7% 5.7%
4.0%

2.0%
and Others
1.6 1.3 1.0 0.4 0.2
Back to
Workforce and Increment Snapshot - Manufacturing – Metals & Mining page 13

Snapshot
9% 4% 7% 6.4%
1% 3%
Snapshot
20%
35%
Workforce
Workforce
1.4%
76% 51%
93%
2019

Millenials Gen Z
51.5%
Increment Snapshot
10.0% 6.6%
6.3% 34.1%
5.9% 4.1%
7.6% 5.2%
8.0% 8.5%
6.5%
1.8%
6.0%
4.0%

2.0%
and Others
2.0 1.5 1.0 0.3 0.0
Financial Services

Back to
Workforce and Increment Snapshot – Financial Services page 13

Snapshot
9% 1%
1% 7%
Snapshot
23% 20.2%
26%
20%
Workforce
Workforce
6.6%
72%
77%
64%
2019

Millenials Gen Z
10.0% 54.7%
Increment Snapshot
7.2% 22.4%
11.0%
8.0% 7.4%
7.1% 6.9% 8.2%
6.7%
6.0%
3.8%
6.3%
4.0%

2.0%
and Others
1.8 1.4 1.0 0.3 0.1
Back to
Workforce and Increment Snapshot – Financial Services – Banks page 13

Snapshot
5% 2% 18.6%
4%
Snapshot
13% 26%
37%
Workforce
47%
Workforce
36%
57%
74% 0.6%
2019

Millenials Gen Z
48.9%
10.0%
Increment Snapshot
7.1% 7.1% 7.1% 7.1% 29.0%

10.7%
8.0%
6.9% 7.1% 8.0%
2.5%
6.0%
4.0%

2.0%
and Others
2.0 1.6 1.0 0.1 0.0
Back to
Workforce and Increment Snapshot – Financial Services – General Insurance page 13

Snapshot
0%
1% 3% 10% 25.4%
16%
Snapshot
19%
13%
Workforce
Workforce
6.2%
82%
84%
71%
2019

Millenials Gen Z
10.0% 57.0%
Increment Snapshot
7.8% 18.6%
7.9% 7.8% 7.1% 11.7%
8.0% 6.6%
7.8%
5.2%
6.0%
4.9%
4.0%

2.0%
and Others
1.7 1.3 1.0 0.2 0.0
Back to
Workforce and Increment Snapshot – Financial Services – Life Insurance page 13

Snapshot
1%
1% 1% 14% 34.2%
Snapshot
9% 22% 23%
Workforce
15.5%
Workforce
89% 77%
63%
2019

Millenials Gen Z
10.0%
55.0%
Increment Snapshot
7.7% 17.9%
14.0%
8.0% 7.6% 7.7%
7.6% 7.7%
7.5%
5.4%
6.0%
7.3%
4.0%

2.0%
and Others
1.7 1.4 1.0 0.3 0.0
Back to
Workforce and Increment Snapshot – Financial Services – Mutual Fund page 13

Snapshot
2% 11.2%
2% 8%
11%
Snapshot
22%
36%
Workforce
27%
Workforce
62%
1.7%
55%
78%
2019

Millenials Gen Z
10.0% 52.6%
Increment Snapshot
7.4% 23.5%
6.4%
6.9% 11.6%
8.0%
7.2% 7.1% 5.8% 9.0%
6.0% 3.3%
4.0%

2.0%
and Others
1.7 1.2 1.0 0.6 0.3
Back to
Workforce and Increment Snapshot – Financial Services – NBFC page 13

Snapshot
1% 16.9%
2% 7% 9%
Snapshot
20%
26%
23%
9.4%
Workforce
Workforce
69%
74%
70%
2019

Millenials Gen Z
10.0%
54.4%
Increment Snapshot
28.3%
6.0% 6.0% 6.0% 6.0% 7.6%
8.0%
7.3% 7.2%
6.0% 2.6%
6.0%
4.0%

2.0%
and Others
1.7 1.4 1.0 0.3 0.1
Services

Back to
Workforce and Increment Snapshot – Services page 13

Snapshot
4% 16.0%
2% 7% 16%
Snapshot
27%
24%
21%
Workforce
Workforce
70% 2.5%
73%
56%
2019

Millenials Gen Z
10.0% 56.6%
Increment Snapshot
7.2% 21.6%
8.0%
9.1%
6.9%
7.1% 7.1%
10.0%
6.0% 6.2%
2.7%
6.0%
4.0%

2.0%
and Others
1.7 1.5 1.0 0.4 0.1
Back to
Workforce and Increment Snapshot – Services – Engineering Consulting page 13

Snapshot
4% 16.5%
2% 8% 13% 14%
Snapshot
21%
21%
Workforce
Workforce
69%
2.4%
62% 86%
2019

Millenials Gen Z
10.0% 59.4%
Increment Snapshot
7.1% 7.1% 7.1% 7.1% 19.9%

8.0%
8.3%
7.1%
6.6%
8.0%
6.0% 4.4%
4.0%

2.0%
and Others
1.5 1.3 1.0 0.2 0.0
Back to
Workforce and Increment Snapshot – Services – Hospitality page 13

Snapshot
4%
10% 15%
Snapshot
19% 19.3%
12% 30%
Workforce
Workforce
57% 21%
3.4%
70%
62%
2019

Millenials Gen Z
10.0%
9.0%
57.5%
Increment Snapshot
8.3% 8.3% 8.3% 28.0%

8.0% 4.5%
10.0%
6.0%
7.8% 7.8%
4.0%
0.0%
2.0%
and Others
1.8 1.5 1.0 0.6 0.0
Back to
Workforce and Increment Snapshot – Services – Other Services page 13

Snapshot
7% 16.0%
2% 7% 16%
Snapshot
23% 27% 42%

Workforce
Workforce
58%
69%
2.1%
51%
2019

Millenials Gen Z
10.0% 61.4%
Increment Snapshot
7.4%
6.8% 18.0%
11.0%
8.0%
6.9% 5.3% 7.3%
6.6% 5.0%
6.0% 2.3%
4.0%

2.0%
and Others
1.5 1.4 1.0 0.3 0.1
Back to
Workforce and Increment Snapshot – Services - Retail page 13

Snapshot
1% 13.0%
1% 6%
Snapshot
22% 20%
29%
20%
Workforce
Workforce
73%
0.6%
80%
49%
2019

Millenials Gen Z
54.0%
10.0%
Increment Snapshot
7.1% 28.8%
6.7% 5.4%
7.7% 6.1%
8.0%
7.0%
5.6% 10.2%
1.6%
6.0%
4.0%

2.0%
and Others
1.8 1.5 1.0 0.4 0.0
Back to
Workforce and Increment Snapshot – Services – Telecom & Ancillaries page 13

Snapshot
3% 2% 15.2%
0% 3% 11%
Snapshot
15%
28%
Workforce
Workforce
4.7%
82% 66%
89%
2019

Millenials Gen Z
60.3%
Increment Snapshot
10.0%
6.1% 17.9%
5.7% 13.8%
5.2%
8.0% 4.8% 3.9%
6.2% 4.2%
5.8%
6.0%
4.0%

2.0%
and Others
2.2 1.5 1.0 0.4 0.1
Participant List

Participant List - Information Technology ( IT)
IT - Products Vmware Inc.
Aristocrat Technologies India Limited Xerox
Cadence Design Systems (India) Pvt. Ltd. IT - Services
CDK Global Aricent India Pvt Limited
CrimsonLogic India Pvt Ltd Birlasoft Ltd
Duck Creek Technologies India LLP BNY Mellon Technology Pvt. Ltd.
FIS Bristlecone India Limited
Hiveloop Technology Pvt. Ltd. First Advantage Global Operating Centre
Incedo Flextronics Technologies India Pvt Ltd
Indus Valley Partners Ltd Infogain India Pvt. Ltd.
Infoedge India Limited Infosys Limited
Inmobi Technology Services Private Limited Mastek Ltd.
Myntra Mindtree Ltd
Newgen Software Technologies Mphasis
NXP India Pvt. Ltd. OSLab's Technology (India) Pvt Ltd
Qualcomm India Pvt Ltd Tech Mahindra
Quotient Technology India Pvt LTD Times Internet Limited
ROHM Semiconductor India Pvt Ltd Wipro Limited
Sungard Availability Services India Pvt Limited Zensar Technologies Ltd.
TP Vision India Pvt Ltd

Participant List - ITeS
ITeS - Third Party BPO JP Morgan Services India Private Limited
Capita India Private Limited Mobis India Ltd
Concentrix Daksh Services India Pvt Limited Principal Global Services
Eclerx RBS Services India Private Limited
RocSearch India Pvt. Ltd.

exlservice.com(I) pvt ltd.
Societe Generale Global Solutions Centre Pvt Ltd
Genpact India Pvt Ltd.
Tesco Bengaluru Private Limited
Publicis Sapient
Trafigura Global Services Private Limited
R1 RCM Global Private Limited
VFS Global Services Pvt Ltd.
WNS Global Services Pvt Ltd
Wells Fargo EGS (India) Pvt Ltd
ITeS - Captives/KPO
Airseva India Private Limited
BC Management Services
BlackRock Services India Pvt Ltd
BNY Mellon Operations India Private Limited
FIL India Business and Research Services Private Limited
Fiserv India Pvt. Ltd.
Ford Motor Private Limited
H5 Asia Pacific Private Limited
JBS India

Participant List - FMCG/FMCD
FMCG/FMCD
Allied Blenders & Distillers Pvt Ltd United Spirits Limited
B9 Beverages Pvt Ltd VKL Seasoning Private Limited
Bajaj Consumer VST Industries Limited
Britannia Industries Limited
Colgate Palmolive India Limited
Godrej Consumer Pvt Ltd
Hershey India Pvt Ltd
Hindustan Coca-Cola Beverages Private Limited
Hindustan Unilever Limited
Hygienic Research Institute Pvt. Ltd
ITC LIMITED
Kohler India Corporation Private Limited
Marico Limited
Mondelez India Foods Private Limited
Pepsico
Reckitt Benckiser - Hygiene Home
Sesa Care Private Limited
Tata Consumer Products Ltd
United Breweries Limited

Participant List - Life Sciences
Life Sciences
Apotex India The Himalaya Drug Company
Aurobindo Pharma Limited Unichem Laboratories Ltd
Baxalta Bioscience India Pvt Ltd
Biocon Ltd
Carestream Dental
Cipla Ltd
Covance India Pharmaceutical Services Private Ltd
Glenmark Pharmaceuticals Ltd
Granules India Ltd
Indegene Pvt Ltd.
inVentiv Health (INC Research)
J.B.Chemicals & Pharmaceuticals Ltd.
Jubilant Life Sciences Ltd.
Nektar Therapeutics (Ind) Pvt Ltd
Novo Nordisk India Pvt. Ltd.
Otto Bock Healthcare India Pvt. Ltd.
Piramal Enterprises Limited
Sentiss Pharma Pvt Ltd
Strides Pharma Science Limited

Participant List - Manufacturing
Automotive Producers Sundaram Clayton Limited Energy
Ashok Leyland Limited Takshi Auto Adani Electricity Mumbai Ltd
Caterpillar India Tata Autocomp Systems Limited Cairn Oil & Gas
Escorts Limited Toyota Kirloskar Auto Parts CG Power and Industrial Solutions Limited
Hero MotoCorp India Limited Cement ReNew Power Limited

Saurashtra Cement Limited Shell India Markets Private Limited
Hyundai Motor India Limited
Gujarat Sidhee Cement Limited
Mahindra & Mahindra Limited Siemens Gamesa Renewable Power Private Limited
Heidelberg Cement India Ltd
Maruti Suzuki India Limited Sterlite Power Transmission Limited
Chemicals Talwandi Sabo Power Limited
Renault – Nissan
Aarti Industries Limited Tata Power Delhi Distribution Limited
Tata Motors Limited
Axalta Coating Systems India Private Limited
TVS Motor Company Engineering Manufacturing
Dhanuka Agritech Ltd 3M India Ltd
VE Commercial Vehicles Ltd
Elkem South Asia Pvt Ltd FCI OEN Connectors Ltd.
Volvo Group India Pvt Ltd
Grasim Industries Ltd - Chemicals, Fertilisers, Insulators Garware Technical Fibres Ltd.
Automotive Suppliers Division India
Aptiv Components India Pvt Ltd General Electric
Indian Additives Limited
Asahi India Glass Limited Godrej Industries Limited
SABIC Innovative Plastics India Pvt. Ltd
Bosch Limited HIL Limited
Savannah Seeds
CEAT Limited RDC Concrete (India) Pvt Ltd.
SRF LTD
Roop Automotives Ltd Schneider Electric
United Phosphorus Limited
Somic ZF Components Pvt. Ltd Tata Advanced Systems Ltd

Participant List - Manufacturing
Engineering Manufacturing (Contd.) Metals and Mining
Textron India Private Limited ArcelorMittal Nippon Steel India
Thermax Limited Arjas Steel Private limited
Weatherford Drilling & Production Services India Pvt. Ltd. Bharat Aluminium Company Limited (BALCO)
Carborundum Universal Limited
Infra/EPC/Real Estate Electrosteel Limited
Air Liquide Global E&C Solutions India Hindustan Zinc Limited
Embassy Group Jindal Steel and Power Limited
Godrej Properties Limited JSW Steel Ltd.
Kalpataru Limited Sesa Goa Iron Ore
Larsen & Toubro Sterlite Copper
Mahindra Lifespace Developers Limited Tata Steel Limited
Tata Projects Ltd. Vedanta Limited
Conglomerate
Aditya Birla Group
Tata Sons
Vedanta Group

Participant List - Financial Services
Banks Life Insurance SBI Funds Management Pvt. Ltd.
Axis Bank Limited Aditya Birla Sun Life Insurance UTI Asset Management Company
Citibank Aviva Life Insurance Company India Limited NBFC
HDFC Bank Limited Bajaj Allianz Life Insurance Co Ltd Aditya Birla Finance Limited
IDFC First Bank Limited Bharti Axa Life Insurance Company Limited Clix Capital
Canara HSBC OBC Life Insurance IIFL Wealth Management Ltd.
Kotak Mahindra Bank Limited
Exide Life Insurance Incred Financial Services Limited
RBL Bank
ICICI Prudential Life Insurance India Infradebt Limited
Small Industries Development Bank of India
IDBI Federal Life Insurance Company Ltd L&T Financial Holdings
General Insurance
Max Life Insurance Mahindra Rural Housing Finance LTD
Acko General Insurance
PNB MetLife Insurance India Muthoot Fincorp Ltd.
Aditya Birla Health Insurance
Mutual Fund Reliance Capital Limited
Bharti AXA General Insurance Company Limited
Aditya Birla Sun Life AMC Ltd. Sanctum Wealth Management
Chola MS General Insurance
Axis Asset Management Company Limited Tata Motors Finance Ltd
Future Generali India Insurance Company Limited
Baroda Asset Management India Limited TVS Credit Services Limited
Magma HDI General Insurance Company Ltd.
Other Financial Services
BNP Paribas AMC
Max Bupa Health Insurance
National Payments Corporation of India
IIFL AMC
Invesco
JM Financial Asset Management Limited
L&T Mutual Fund

Participant List - Services
Engineering Consulting Manipal Health Enterprise Pvt. Ltd. Indus Towers Ltd
Bechtel India Pvt Ltd Max Healthcare Institute Limited Siemens Technology & Services Pvt. Limited
Buro Happold Michael and Susan Dell Foundation India LLP Tata Communications Limited
Feedback Infra Private Limited Murugappa Management Services Limited
Louis Berger (WSP) Reach to Teach
Tata Technologies Limited SOS Children‘s Villages of India
WS Atkins India Pvt Ltd The George Institute for Global Health
Hospitality The Great Eastern Shipping Co. Ltd.
EIH Limited Zee Entertainment Enterprises Ltd.
Hauteservices Retail
Hilton Hotels & Resorts Aditya Birla Fashion Retail Ltd
Intercontinental Hotels Group Benetton India Pvt Ltd
ITC Hotels More Retail Limited
Sarovar Hotels and Resorts Raymond Limited
Other Services Spencer's Retail Ltd.
CSA Group Titan Company Limited
GroupM Media India Private Limited Trent limited
JLL India Telecom & Ancillaries
Leadership For Skilled Education Foundation ATC India
Bharti Airtel Ltd.

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Participant Report | March 2020 | Contact us at inrewards@deloitte.com

The 2020 DeloitteSub-Sectors

© 2020 Deloitte Touche Tohmatsu India LLP 2

4.5% 4.5% 4.5% 4.5%

© 2020 Deloitte Touche Tohmatsu India LLP 3

Design Invite Collect Analyze Report

© 2020 Deloitte Touche Tohmatsu India LLP 4

Increment Other Rewards

© 2020 Deloitte Touche Tohmatsu India LLP 5

Increment Other Rewards

© 2020 Deloitte Touche Tohmatsu India LLP 6

Share of Global GDP (PPP Adjusted) Real GDP Growth (% y-o-y)

Source: IMF, World Economic Outlook

2019 Actual Increment

% of companies by level of % of companies by change in increment

20% • Less than 10% of the organizations reported a

Source: National Statistical Office, Reserve Bank of India, Deloitte

2019 8.2% (Actual) 2.9% 5.3% 8.0% 0.2%

2020 7.8% (Projected) 7.5% 0.3% 8.7% -0.9%

Source: National Statistical Office, Reserve Bank of India, Deloitte

© 2020 Deloitte Touche Tohmatsu India LLP 11

2019 Actual Increment

8.2% 7.4% 9.4% 8.9% 8.2%

2019 Actual Increments 2020 Projected Increments

8.2% 6.5% 8.3% Life 8.4%

7.6% 9.5% 7.6% 6.6% 8.2%

Information Technology 7.7%

ITeS KPO 9.0%

Sub-Industry with lowest 2020 increment projection

-1.0% -1.0% -1.0%

© 2020 Deloitte Touche Tohmatsu India LLP 14

2020 Projected Increments

Top Factors Affecting Salary Increment Budgets in India

Increment Other Rewards

© 2020 Deloitte Touche Tohmatsu India LLP 16

Prevalence of different individual increment

33% also likely to come down

27% employees who are significantly

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Overall India Population Distribution (2019 vs 2018) 1.7X

(figures in brackets) denote change from 2018 57.9% 1.4X

Significantly Exceeds Meets Below Significantly

IT FMCG / FMCD Financial Services Services ITeS Manufacturing Life Sciences

*IT products includes E-Commerce and early stage companies

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71% Junior Management

Junior Management Difference b/w Top &

Overall India 7.8% 6.8% 7.2% 7.6% 8.0% 1.2%

IT 9.2% 8.2% 8.7% 9.0% 9.3% 1.1%

ITeS 8.7% 7.9% 8.1% 8.5% 8.7% 0.8%

Life Sciences 8.4% 6.4% 7.0% 7.9% 8.7% 2.2%

FMCG / FMCD 7.7% 6.9% 7.1% 7.5% 7.8% 0.9%

Manufacturing 7.2% 6.0% 6.4% 7.0% 7.4% 1.4%

Financial Services 7.1% 6.3% 6.7% 6.9% 7.2% 0.9%

Services 7.1% 6.0% 6.2% 6.9% 7.2% 1.3%

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