According to the ADP® Research Institute's People at Work 2023: A Global Workforce View report, India is making significant strides in addressing the global gender pay gap. While the average worldwide pay increase for men in 2022 was 6.7%, men in India experienced a 7.2% rise, and women experienced a 7% increase. Looking ahead, both genders in India anticipate an 8% pay increase, indicating positive momentum.
India had the highest level of satisfaction with firms' efforts to promote gender pay equality, with 63% expressing satisfaction, outperforming other Asia-Pacific countries. Furthermore, the research emphasizes India Inc.'s dedication to valuing experience, since senior employees, notably those aged 55 and beyond, earned the greatest pay increases last year, at 10%.
India's growth extends to Diversity, Equity, and Inclusion (DEI) programs, as 59% of respondents reported advances over the last three years, placing it first in the Asia Pacific area. For long-term success, Rahul Goyal, Managing Director, ADP India & Southeast Asia, underlined the necessity of meeting the remuneration demands of the youngest generation entering the employment market. While satisfying experience is important, achieving Gen Z's expectations is as important.
India's extraordinary success in closing the gender pay gap and expanding DEI measures demonstrates the country's leadership in fostering a fairer and more inclusive workplace. The optimistic prognosis extends beyond pay fairness to possibilities for skill development, underscoring India's commitment to offering equitable growth opportunities for all employees.
