Appraisal Season: Employees In BFSI And ITES Sector Expect Better Hike

Professionals working in cities such as Mumbai, Pune, and Chennai are looking for higher pay hikes, more than 20 percent compared to metros like Delhi-NCR and Bangalore where people seem to be satisfied with a hike up to 10 percent, according to a survey on the expectation among employees by Shine.com.

The Survey found that nearly 37 percent of people in the financial capital – Mumbai are expecting increment above 20 percent, while in Pune and Chennai, the number is 36 percent and 38 percent respectively. Another observed is that 21 percent of people are expecting appraisals in the range of up to 10 percent, while expectations of people in the Delhi NCR are on the lower side.

Appraisal sentiment in Bangalore: High competition; low expectation

Bangalore has emerged as one of the least demanding cities in terms of pay hikes, as one-fifth of all respondents in the city mentioned that they would be satisfied with up to 10 percent increment. Sectors including BFSI, IT and BPOs, that already offer high packages to employees are the ones driving these low expectations. As there is an abundance of talent in the city, especially in the IT and e-commerce sectors, it is no surprise that professionals are expecting lower appraisals.

Surprisingly, its e-commerce sector is expecting much lower appraisals as compared to Delhi. While nearly half of e-commerce employees in Bangalore are only expecting an average growth of 11-15 percent, Delhi NCR seems to be emerging as a new hub for E-commerce as appraisal sentiment is high with over 1/3rd professionals expecting a bumper hike of over 20 percent.

Auto and Education bolster appraisal sentiment in Mumbai and Pune 

Shine.com further revealed analyzed developments in Mumbai and Pune where employees in Education and the Automobile sector are expecting hikes on the higher side. While nearly 62 percent of employees in Mumbai are looking for over 20 percent appraisal in the education sector, nearly 56 percent in auto are eyeing the same. Further, 48 percent of employees in the auto sector and 38 percent in the education sector are looking for more than 20 percent hike in Pune. These two cities, which are witnessing robust growth across most sectors, have collectively portrayed the highest appraisal sentiment in the country.

Sector-wise analysis: BFSI and BPO/KPO/ITES expectations witness an uptick

A sector-wise analysis of appraisal expectations revealed that the highest appraisal sentiment is being carried by professionals in the BFSI and BPO/ITES sectors with over 35 percent of employees in these sectors expecting more than 20 percent increment. With these sectors witnessing robust growth on the back of tech advancement and integration, such high expectations come as no surprise.

Zairus Master, CEO, Shine.com said, “It is interesting to note the variance in employee expectations across different metro cities and across sectors. While employee sentiments are high across most sectors, it is a given that not all organizations will be able to meet these expectations. At Shine.com, we are gearing up for an increase in active job seekers on the portal post the appraisal season. As always, we will strive to match them with the perfect job according to their skills and expectations and also offer a chance to upskill and enable long term career growth for them through our Shine Learning platform.”

Rajguru Tandon

BW Reporters The author is a correspondent with BW Businessworld with keen interest in HR and employee welfare.