Greetings from Mercer!
As 2022 draws to a close, it is only natural to reflect on the year gone by and ponder about what lies ahead. Despite the global uncertainties around economic and geo-political factors, India has had a good year on most fronts. Economically we have had a year of reasonable growth and the financial markets seem to reflect a reasonable growth run in the foreseeable future. However, the growth will not be evenly spread across industries nor is the euphoria of the secondary markets reflected in the otherwise buoyant start up ecosystem. The uncertainties around economic growth in the global economy and relative certainty of recession in Europe are factors that continue to influence India Inc. Employers are reviewing their hiring and retention plans and we may be heading into a few quarters of muted employment growth.
With the “Great Resignation” behind us, availability of talent should improve but organizations will have to continue to do their best in attracting the “right talent”. Companies will continue to focus on Reskilling and Upskilling; Pay Equity; Diversity and Inclusion in the workforce; Financial Wellbeing; among other things to ensure they continue to remain employers of choice.
As we close another successful year at Mercer, I would like to thank all our clients for their support. Making a difference in your lives is our purpose and we remain focused on offering you actionable insights through our work.
Please do reach out to your consultant or write directly to me for any feedback you may have on the work we do for you and how we can serve you better.
Thank you and best wishes.
CEO - India
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