India Inc. is in a full throttle mode to review its salary and compensation as most companies are in the midst of their annual performance and appraisal reviews. About 49% Indian companies have already kick started this process and 23% will start the appraisal review in the next three months, found a recent TechGig survey.
With the accelerated pace of digital transformation at most businesses across sectors and domains, the technology teams – and specifically developers – are much in demand. From app development to software maintenance, developers are quietly running the show for most companies. Hence TechGig conducted an extensive survey titled ‘TechGig Developer Appraisals Survey 2022’ among 1,174 tech recruiters to understand their sentiments for the ongoing appraisals.
About respondents: 43% respondents belonged to a multi-national company, 38% worked in a private company and 11% were employed in a small and medium business. Most respondents (26%) had a workforce comprising more than 60% developers.
India Inc. to offer 8-10% average salary hike to developers, at par with the pre-COVID level
The TechGig survey asked about the average salary hike planned for developers, and most respondents said they would offer 8-10% increment. Industry acclaimed remuneration surveys had earlier stated that the average salary hike in the IT sector in 2019 was close to 8%. The prediction for 8-10% hike in 2022 is clearly a mark above than the pre-COVID-19 increment. The TechGig survey verified independently if this hike would be at par with the pre-COVID-19 level and most (68%) agreed with it. Also, about 20% respondents expect the salary revision in 2022 will be in the range of above 40%.
Teamwork first, excellence in tasks second top appraisal criterion
Every firm has their own criterion to assess developers, but teamwork was voted as the top one by most respondents (26%). This comes in the wake of a pandemic work situation where remote working and being available for critical work was necessary for business continuity. Excellence in work ranked afterwards with 23% votes, punctuality & discipline was voted third top criterion (19%) and availability/response in times of crisis (even after work hours) was voted 14%. Surprisingly, leadership traits got ranked much lower with just 2% preference.
The line here is clear, collaborative work is going to be the future and hence the preference for attributes such as teamwork and availability will rank much higher.
Complete report available here