It has been expected out that the Indian companies will
come out with an average salary hike of about 12% in coming fiscal year putting
more emphasis and prominence on performance and linked pay packets, according
to a global survey conducted by globalized consultancy worldwide. In fact, 2013
total remuneration survey revealed the fact that all industries have aimed an
average salary rise of 12% across all domains and verticals.
The pharmaceutical domain determines to see the highest average
pay hike of 12.5%. As per the report, till the companies continue to go for
double digit increments, it seems to have a strong evaluation and attitude to
contain costs heading to firms re-assaying their quantum. These findings and
results are completely based on a survey of 734 organizations conducted across several
sectors. Adding more, firms will be giving an average hike of 4% as a
promotional increase in the coming fiscal and approximate 3% as a market correction
or adjustment, at Median. According to the survey, about 72% of enterprises are
planning to hire people in the coming year as compared to the rate of 84% during
previous year.
Performance
based results and pay hikes will be given importance in the appraisal cycle. In
hi-tech and pharmaceutical domains, the variable bonus payout will be increased
calculated as a percentage of annual guaranteed salary and is propositioned to
around 20% for the year and during the entire cycle, the variable pay is predicted
to rise to 23.50% and 26% for pharmaceutical and hi-tech verticals
respectively. In today’s competent and technological environment, companies are
highly moving towards employee remuneration away from a fixed pay strategy that
entrusts more on variable compensation. Corporate attitude is slowly and
gradually been positive, though waiting and adopting wait and see policy for
better outcomes. As per our research conducted, firms are not looking and
holding back on employees increments but are more likely to be selective and
proactive in their approach.
Aon Hewitt announced
the results of annual salary average pay hike survey and reflecting the
economic growth expectation of approximate 5%, the company addressed an average
payout of 10.3% in the year. The talent and reward partner commented that
despite the business sentiment is empowering and intensifying on account of
inflation reaching a 3 year low and stock trading raising upwards, the careful line
is the proof in the projected salary hike numbers.
For Indian ITeS
industry, the average salary rise has been outlined at around 10.1%. BSI bounds
are addressing salary hike at around 10.2%. Other third party service providers
posted an average rise of 8.9% on account of devaluing rupee, tough and
critical global economic conditions and other cost pressures.
IB Technology is
a leading and well known organization dealing in financial services, life
sciences, real estate and construction and telecom verticals. Been a very
employee friendly company, it is offering a good average salary pay hike to
employees depending on the key talents and performance based results. In all, with
shrinking and dwindling salary budgets, organizations at a wide scale are creating
sharp discernments and differentiations in salary hikes between their talented
resources and rest others. Over with time, the gap is widening and the main
talents comprising hi-performers and potentials, and critical talents are
projected to an extremely good average salary hike of about 15%. According to
the reports, it is estimated out that the outsourcing and technology sectors have
been amongst the most changeable and expansive and will be more cautious in the
coming year.
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