DELOITTE SURVEY
Rise in value-seeking customers, key FMCG sectors face tampering of growth: Report
The report highlighted a significant shift in consumer spending patterns with a rise in value-seeking buyers, which is evident across consumer businesses. While the consumer may increase their spending on leisure activities, suggesting a good performance for the aviation and hotel industries in FY2024-25, it added.
Most of top-level executives have positive perception of GST: Deloitte survey
A Deloitte survey shows growing confidence in India's GST among C-suite executives, with 84% perceiving it positively in 2024, up from 72% in 2023. Key reforms suggested include rationalizing tax rates, improving dispute resolution, and enhancing automation and technology. The survey also highlights the need for further simplification and support for MSMEs.
Pay gap shrinks: Will BTech grads stay MBA course?
A Deloitte survey revealed a significant narrowing of starting salaries between MBA and BTech graduates in India. The pay gap has reduced to 57% in 2024 from 102% in 2021, potentially impacting the appeal of costly management courses for BTech graduates.
MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India
Industry leaders report that multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.
Attrition rates continue to remain high for MBA graduates; drop in pre-placement offers: Study
Deloitte India's study on MBA graduates reveals high attrition rates, location preferences, and trends in compensation and skills assessment.
Attrition for MBA campus talent highest across degrees; employee turnover among campus hires drops in 2023 vs 2022, survey shows
A survey by Deloitte has revealed that the attrition rate among MBA graduates hired directly from campus was the highest across disciplines in 2023, with the highest one-year (40%) and two-year (38%) attrition rates. Infant attrition was the highest among Graduate in Management (BBA / BCom /others) degree holders, with 33% of fresh hires leaving organisations in less than a year of joining. However, the survey showed a reduction in attrition rates from 2022, with MBA hires from Top-10 and Tier-1 colleges attriting at 24% (infant), 40% (one-year), and 38% (two-year) in 2023.
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India ranks first in adoption of GenAI across Asia Pacific: Deloitte survey
The report, titled ‘Generative AI in Asia Pacific’, said 93% of students and 83% of employees in the country are actively engaging with GenAI.
Gen Z, millennials say purpose at the core of job satisfaction and wellbeing; expect AI to improve work-life balance
Gen Zs and millennials prioritize purpose, reject non-aligning work. Deloitte's survey on 22,800 reveals career shifts towards climate action. Excited about GenAI impacting work-life balance and reskilling needs.
CSR activity transcends compliance boundaries, companies embrace impact investing: Deloitte
Indian companies are expanding their corporate social responsibility (CSR) initiatives beyond compliance, with a focus on strategic impact investing such as social bonds and pay-for-success models, according to a Deloitte India survey. While interest in innovative models is high, navigating complexities remains a challenge. CSR is increasingly seen as a key driver of corporate strategy, with firms re-evaluating their strategies in response to changing regulations and ESG norms.
Indian companies show interest in impact investing but face challenges: Deloitte CSR survey
Deloitte India's CSR preparedness survey reveals that only 28% of Indian organizations feel very prepared for impact investing, despite high interest. The study shows a shift towards CSR as a strategic driver of corporate strategy, with increased investment in technology solutions and focus on accountability.
Women working in organisations leading in gender equality more productive, loyal: Survey
These women professionals are far more likely to recommend their organisations to other women, feel far more satisfied with the mental health support extended to them, and feel more comfortable talking about their mental health in the workplace.
Women are more loyal, productive when working for firms that score well on gender equality: Deloitte
Deloitte's survey illustrates the positive impact of gender equality on women's workplace experiences, emphasizing the need for inclusive practices, flexible options, and safety measures to support women professionals in India.
India Inc CXOs’ pay packets are getting fatter
CEO compensation in India Inc is on the rise, with median pay reaching Rs 9.3 crore in FY24. The average CEO compensation has surged to Rs 13.8 crore, up 40% from previous levels. About three out of every four CEOs in India now earn more than Rs 5 crore, the survey has found. CEOs earning more than Rs 20 crore in target total compensation has doubled over the last four years. Every second CEO had a target compensation of more than Rs 10 crore in FY24, compared with every third CEO in FY20.
Median CEO compensation stands at Rs 9.3 crore in 2024, up 35% compared to Rs 6.9 crore in 2020
CEO compensation surged in 2024, with median pay at Rs 9.3 crore and average at Rs 13.8 crore. Promoter CEOs earned more than professionals, and long-term incentives play a significant role in compensation structures.
Does more work and bigger responsibilities lead to better compensation and promotions?
Research from Deloitte India and Randstad India indicates that employees taking on additional roles are receiving better increments, double promotions, and career advancement opportunities. This strategy benefits companies by retaining talent, cultivating skilled workers internally, and saving on external hiring costs. Such initiatives have reduced attrition and boosted employee engagement.
Average increment in India expected to slip to 9% in 2024, says Deloitte survey
Deloitte India Talent Outlook 2024 Survey shows that while overall average increment is lower than last year’s, increment projection for 2024 is higher than the pre-Covid levels across all sectors, except IT and BPO/ KPO. The survey also predicts that companies are likely to offer double-digit increments to junior management employees but with a high focus on performance-based differentiation.
Cos talk up diversity but boards stay stubbornly male with needle barely moving in 6 yrs: Survey
Data from Deloitte Global Boardroom Program's Women in the Boardroom report, shared exclusively with ET, show that only 5.1% of the CEOs in the 400 listed companies on the MSCI index analysed are women - with the needle hardly moving from 3.4% in 2018. Data shows about 4.1% of board chairs are women compared with 4.5% in 2018.
India Inc has miles to go in building career path for employees
The Deloitte data reveals that a significant portion of Indian companies lack formal career management plans for employees. While many have clear promotion policies, they often lack holistic frameworks for managing careers. Only a minority of companies effectively communicate these processes to employees.
Move over cars, Japanese and Koreans are now entering your wardrobes
The success of brands like Uniqlo, MUJI and K-beauty companies highlights the East Asian countries’ Indian diversification and the various opportunities it brings.
Corporate India produces a flop succession show
Data from Deloitte shared exclusively with ET shows that the process works at just one of four organisations, although seven out of 10 do have a framework in place for succession planning.
TCS rates codified to 20%; there’s a PLI for R&D and innovation: Rohinton Sidhwa, Deloitte India
Deloitte India partner Rohinton Sidhwa discusses the changes in the TCS rates imposed on foreign exchange remittances. The TCS rate has been aligned to 20% as per cicular number 10 of 2023. There are also potential changes in the calculation of agricultural income. The finance minister mentioned a PLI for R&D and innovation with a funding of Rs 1 lakh crore. There is also a focus on credit to the tourism sector. Sidhwa believes that the revenue growth assumptions are conservative and expects an increase in tax collection due to rising incomes and an expanding tax net.
India Inc confident of achieving $5 trillion economy, says Deloitte in pre-Budget survey
India Inc is confident of achieving $5 trillion economy with government support in infrastructure investments, reforms, and technology adoption. Business leaders anticipate strong economic growth, with about 50% of India Inc optimistic about above 6.5% growth in FY25. Automotive, consumers and retail, technology, media, and telecommunication, and energy, resources, and industrials sectors anticipate high growth.
Sharper differentiation for key talent amid drive towards a high performance culture
A recent survey by Deloitte showed that attrition for India Inc. dropped to 17% in 2023 compared with 19.7% in 2022. However, key talent attrition continues to be between 1.5-1.7 times of overall attrition, indicating that there are enough opportunities even in a tighter job market.
Gifting leave to one in need is a good deed indeed
Recent Deloitte survey shared exclusively with ET has shown that companies offering employees a chance to gift their leaves to colleagues in need promotes a culture of camaraderie and collaboration. Gift a leave helps in providing a safety net to employees, especially new employees, said experts.
Attrition levels drop as executives stay put in uncertain business environment
Attrition rates at India Inc decreased to 17% in 2023 from 19.7% in 2022, influenced by a subdued job market, macroeconomic challenges, sector-wide layoffs, and an uncertain future. The IT/ITeS sector experienced the most significant decline, dropping from 21.3% in 2022 to 15.5% in 2023, as per the Deloitte attrition survey exclusively shared with ET. Attrition declined in most sectors, except for a rise in financial services to 32.7% in 2023 from 29.2% in 2022.
94 per cent Indian CFOs optimistic about nation's economic future: Survey
The report titled 'The next set of imperatives for CFOs in the Asia-Pacific region', demonstrates the business imperatives facing organisations of 276 leading CFOs in the region. It highlights CFOs' responses to the near-term business landscape marked by economic fluctuations, slowing growth, surging inflation, and elevated interest rates.
India most preferred location for global shared services, shows Deloitte's survey
India has been identified as the top location for global shared services, followed by Poland and Mexico, according to a survey by Deloitte. The survey also revealed that India is on track to have over 1,900 global capability centers (GCCs) employing 2 million people and generating $60 billion in revenue. Additionally, India is among the world's top exporters of services and is expected to strengthen its position further through shared service centers.
Manufacturing companies ease work rules in post-Covid world
Manufacturing firms, which before the pandemic had rigid work hours and culture, are now opting for a flexible approach, in terms of relaxations in working days/hours, attendance punching and uniforms, and are even allowing employees in certain roles to work remotely for a day or two in a week.
Gen Zs and millennials happy with work-life balance, but demand more from employers
A recent survey conducted by Deloitte, encompassing 14,483 Gen Zs and 8,373 millennials across 44 countries, reveals that despite progress made by employers in enabling better work/life balance and flexibility, concerns remain among the younger workforce. The survey highlights that the rise of remote and hybrid work, accelerated by the pandemic, has not fully met the expectations of millennials.
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