I hope each of us had the opportunity to take time off from work at the year end and has come back fully energized.
After all, it was a year that tested us on all counts! I have the privilege to share my thoughts with you in the first Newsletter of the year.
Right through the last eighteen months, Industry has experienced several challenges. This resulted in most employers exercising ample caution in making bold moves. India Inc. continues to sit on a large cash reserve as a result of limited capital investments through this period of time.
However, now with an improved business sentiment, it is anticipated that most companies have earmarked robust capital expenditure budgets for a three year cycle starting FY22.
Investment analysts expect that industries such as IT, pharma, steel, sugar, cement, real estate and infra will take the lead in investing. In other sectors such as auto, the push maybe towards all-electric vehicles, fuel cell technology, other digital assets etc. Hospitality and aviation sectors too are now experiencing an increased demand.
Market reports suggest that India’s GDP growth rate in 2022 could be anything between 8.5 – 9.1%.
With business expansion, companies are also investing in Talent. Most industry sectors are reporting robust hiring trends both at campus and laterals.
In a very hot talent market, Employers also face the challenge of retaining top talent. Employees are demanding flexible working. Inclusion and diversity programs are being amplified. Employers will also press ahead on their digital and technology enablement plans, with even more purpose and energy.
However, we must continue to anticipate, a continued period of time with spikes of “success and relief” and “intermittent blips”, such as the Omicron scare!
The good news is that both employers and employees are better prepared to meet these challenges now. We need to continue to exercise enough caution and follow COVID related guidance by the Government and health authorities.
We enter the New Year with some caution and much anticipation for better times. I have no doubt in my mind that the pandemic crisis will be behind us very soon.
Here’s wishing all our clients, colleagues and other readers, a healthy and successful new year.
Welcome to 2022! Welcome to Brighter!
Commercial Leader, Mercer India
The Covid-19 recovery has not been straightforward. Higher energy prices and supply chain disruptions means 2022 will be the year to finish the job of repairing the global economy. In our Market Outlook 2022, we are broadly positive about the near economic future but believe that inflation will continue to be a risk.
The New Shape of Work interview series addresses the challenges and uncertainty brought on by the coronavirus with a focus on how to transition to a more agile workforce for the future.
The expression “working from anywhere” has been used by CEOs and top-level managers. The risk is that the promise may remain vague and difficult to implement in practice. Read more here on how remote work will look different for employees across companies and countries, meaning each organization needs to decide where its boundaries are.
From monetary policy tightening and regulators showing their teeth to the global energy transition and post-Covid healthcare disruption, the world economy is undergoing a generational change. In our Metamorphosis 2022 report, we take an in-depth look at some of biggest market and investment themes for next year.
Employee benefit programs and the teams that deliver, manage and report on them have been thrust into the spotlight, with increased C-suite attention. The importance of providing a globally-consistent #employeeexperience has also grown exponentially, accelerated by the pandemic.
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