A survey conducted by talent consultancy, Ishwa Consulting reveals that in manufacturing sector in India has shown a significant drop in appraisals, averaging around 10.1% in 2024 from 11.5 % of last year average. The survey was conducted on 100 CEOs & CHROs of manufacturing companies.
Key Highlights:
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- Senior Levels: Appraisals for senior-management roles in the manufacturing sector have averaged around 9% this year, down from 10% last year.
- Middle Management: For roles in middle management, the average appraisal increase is around 11%, compared to 13% last year.
- Engineering Roles: Core engineering roles have seen an average appraisal increase of 9%, down from 11% last year.
- Business Roles: Business roles, including those in management, sales, and HR, have witnessed an average appraisal increase of 7%, compared to 8.5% last year.
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- Regional Variations: Appraisal increases vary significantly across regions. Manufacturing hubs in Western and Southern India have reported higher average increases (up to 12%) compared to Northern and Eastern regions (around 7%).
- Sector Sub-divisions: Within manufacturing, sectors such as automotive have shown higher appraisal trends, averaging 11%
“The survey highlights a dip in average appraisals in FY 23–24; however, the need for advanced technical skills in specialized domains is driving the growth forward. With rising digitization, businesses must focus on learning and development and utilize AI-driven insights for talent upskilling,” said Arvind Pandit, Founder & Managing Partner of Ishwa Consulting.
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