{"id":20121,"date":"2023-09-05T12:02:55","date_gmt":"2023-09-05T06:32:55","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=20121"},"modified":"2023-09-05T12:15:35","modified_gmt":"2023-09-05T06:45:35","slug":"what-the-foundit-survey-reveals-for-job-seekers","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/what-the-foundit-survey-reveals-for-job-seekers\/","title":{"rendered":"The 2022-23 Appraisal Landscape: What the foundit Survey Reveals for Job Seekers\u00a0 \u00a0"},"content":{"rendered":"\n<p>The most anticipated time of the year has come and gone. We&#8217;re talking about the appraisals, of course!&nbsp;&nbsp;<\/p>\n\n\n\n<p>How did the appraisal cycle for FY 2022 &#8211; 2023 go? In a recent appraisal survey, foundit asked people from various industries about their salary hikes, and there were some surprising results!&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Background&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p>2022 &#8211; 2023 was the first year of the &#8216;new normal&#8217; after Covid-19. There were some remarkable shifts in the professional environments. Many offices opened, and employees started trickling back into offices.&nbsp;<\/p>\n\n\n\n<p>It was also an appraisal season that many employees were waiting for eagerly, after the difficult years of the pandemic.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways from foundit&#8217;s Appraisal Survey 2022 -23:&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Appraisal Stats for FY 2022-23:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>62% of respondents got an appraisal. <\/strong>Interestingly, 6 out of 10 employees got a hike this year&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li><strong>Almost half of those (49%) <\/strong>who didn&#8217;t get a hike were incentivised with ESOPs and bonuses, while 20% got promotions \u00a0<br>\u00a0<\/li>\n\n\n\n<li><strong>52% people said they got a fair appraisal; <\/strong>Just 38% said that the increment hike met their expectation&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Non-metro cities saw marginally better hikes&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Among sectors, employees in BFSI got a better range of salary hikes. Healthcare and BPO\/ITES sectors saw more employees get hikes when compared to other sectors\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>76% of those surveyed are looking for a <strong><a href=\"https:\/\/www.foundit.in\/career-advice\/how-to-explain-reason-for-a-job-change\/\" target=\"_blank\" rel=\"noopener\" title=\"job change\"><span style=\"text-decoration: underline;\">job change<\/span><\/a><\/strong>, but this isn&#8217;t directly linked to appraisals \u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Appraisal stats by Work Experience <\/strong>&nbsp;<\/h2>\n\n\n\n<p><strong>No hikes:<\/strong> Of all employees, entry-level professionals got a rough deal. 62% of entry-level professionals\u00a0 (0-3 years&#8217; experience) did not get a salary hike at all \u2014 the highest among all experience levels.\u00a0\u00a0<\/p>\n\n\n\n<p>&nbsp;<br><strong>Highest hikes (+20%): <\/strong>Associate level professionals (4-6 years&#8217; experience) got the highest hikes when compared to every other group.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Appraisal Stats by Industry and City&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Across all industries, most employees surveyed got a 10-15% salary hike&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Overall, just 11% of employees surveyed got the highest salary hike (more than 20%)&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>The IT sector saw the highest variance of salary hikes, with employees receiving hikes in the 0-5% range as well as 10-15% range&nbsp;<br>&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Non-metro cities also enjoyed better increments than their metro counterparts&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Job Change Factor&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Is there a link between appraisals and job change?&nbsp;&nbsp;<\/p>\n\n\n\n<p>The foundit Appraisal Survey indicates that 76% of employees surveyed are contemplating a job switch.\u00a0\u00a0<\/p>\n\n\n\n<p>Here&#8217;s the twist: employees wanted to switch jobs even when they got good salary hikes. Specifically, even those who got decent salary hikes (between the range of 5-10% and above 20%) were planning a job change. More than 70% of them wanted to leave their current roles.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Career Growth Vs Compensation: A Balancing Act<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Perks and Benefits ranked in fourth place in the list of factors influencing people to continue in their jobs.&nbsp;<\/p>\n\n\n\n<p>The factors that preceded perks and benefits in a workplace are: &nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Team Leading Opportunities&nbsp;&nbsp;<\/li>\n\n\n\n<li>Office Culture&nbsp;&nbsp;<\/li>\n\n\n\n<li>Learning Opportunities&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>For employees, a good workplace is about more than money. It&#8217;s also about recognition, growth and work culture.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>You can read the full Appraisal Report here: <\/strong><\/h2>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vSWN4fJF8-WiR82ULBiDUMax2Il15AA8_X2xb5msn96XPDbQZEANchl0-xZBBgSBg\/embed?start=false&#038;loop=false&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<p>As we navigate the new financial year, this data gives employers something to reflect on. And for employees, this is a benchmark to assess their appraisals.&nbsp;&nbsp;<\/p>\n\n\n\n<p>One thing is for sure, the appraisal landscape is changing, and it&#8217;s more dynamic than ever.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Survey Methodology and Context<\/strong>&nbsp;<\/h2>\n\n\n\n<p>To ensure a holistic understanding of the appraisal landscape, <strong><a href=\"https:\/\/www.foundit.in\/\" target=\"_blank\" rel=\"noopener\" title=\"foundit \"><span style=\"text-decoration: underline;\">foundit <\/span><\/a><\/strong>gathered inputs from 3,066 employees across various major industries, guaranteeing proportional representation.\u00a0\u00a0<\/p>\n\n\n\n<p>Our focus was not just on the numbers but on aspects like performance evaluation, promotion opportunities, job satisfaction, and the perceived fairness of the appraisal process.\u00a0\u00a0<\/p>\n\n\n\n<p>We also probed into employee sentiments about their payouts, perks, benefits, and their expectations vs. reality.\u00a0\u00a0<\/p>\n\n\n\n<p>Although we have been diligent in our efforts, please note that the information, while insightful, might not capture every nuance of the appraisal ecosystem.\u00a0<\/p>\n\n\n\n<div style=\"text-align: center;\">\n<a style=\"display: inline-block;background-color: #7900c6;color: #fff;text-align: center;padding: 10px 20px;text-decoration: none;font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2023\/09\/Appraisal-Survey.cleaned.pdf\" target=\"_blank\" rel=\"noopener\">Download Appraisal Report PDF<\/a>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The most anticipated time of the year has come and gone. We&#8217;re talking about the appraisals, of course!&nbsp;&nbsp; How did the appraisal cycle for FY 2022 &#8211; 2023 go? In a recent appraisal survey, foundit asked people from various industries about their salary hikes, and there were some surprising results!&nbsp;&nbsp; Background&nbsp;&nbsp; 2022 &#8211; 2023 was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[19],"tags":[],"class_list":{"0":"post-20121","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upcoming-job-trends"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/20121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/comments?post=20121"}],"version-history":[{"count":4,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/20121\/revisions"}],"predecessor-version":[{"id":20128,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/20121\/revisions\/20128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/20123"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=20121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=20121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=20121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}