Auto Staff: The pay rise is likely to be 10.5% on average for staff of automotive producers and 10% for those working for suppliers, according to Deloitte s Increment and Attrition Trends Study, which the company shared exclusively with ET.
India s automotive sector employers are likely to offer higher than average pay rises in 2024 to retain talent. The average pay rise is expected to be 10.5% for automotive producers and 10% for suppliers, according to Deloitte s study. This trend is driven by high attrition, focus on electric vehicles, and robust auto industry performance.
"With the excellent efforts of employees, Maruti Suzuki has performed well in FY23," said Rajesh Uppal, member executive board, HR, Maruti Suzuki, which recorded the highest-ever turnover of ₹1 lakh crore. "Our sales of 19.66 lakh units were the highest ever. the company recognises the efforts of employees and shares the fruit of their good work with them," Uppal told ET.