India Inc may give a 10.6% salary hike in 2015: Aon Hewitt
Those in the top performance bracket will get 1.6 times the hike given to average performers, said advisory firm Aon Hewitt in its annual survey.
By ET Bureau | Updated:
MUMBAI/DELHI: India Inc can expect a 10.6% salary increase in 2015 , stated Aon Hewitt in its Annual Salary Increase Survey. Those in the top performance bracket will get 1.6 times the salary increase awarded to average performers, said the advisory firm.
The study showed that sectors such as Life Sciences, Engineering Services, Chemicals and Media are projecting a higher increase than the market average. Real estate moved up several notches because of positive sentiments in the economy. Services industries like Retail, Financial Institutions, and Hospitality however represented the lower end of salary increase projections.
“On the back of improving business confidence, a stable government and moderating inflation there is a significant improvement in business confidence across companies, however this confidences is not reflecting in salaries. The projected salary increase number shows a subtle improvement over salary increases in the last 3 years. Companies across industries are continuing to take a cautious stance and are not going for aggressive pay increases,” said Anandorup Ghose, Rewards Consulting Practice Leader at Aon Hewitt India. The 19th edition of the study was conducted had data analysed from 580 companies.
The survey also shows that almost 70% of the respondents expect improvement in the business outlook and half of all firms believe that positive business sentiment and increasing pay budgets in their competitive market are driving factors in their decision to increase salary projections from earlier years.
Companies have also become more severe in their ratings and the number of top performers has fallen by 30% . This proves that companies will make their talent differentiations sharper and make budget allocations accordingly.
The expected move in job market will has also impacted attrition. The study showed that although overall attrition rate at 18.1% is similar to last year's , key talent movement has shot up by 31%.
The study showed that sectors such as Life Sciences, Engineering Services, Chemicals and Media are projecting a higher increase than the market average. Real estate moved up several notches because of positive sentiments in the economy. Services industries like Retail, Financial Institutions, and Hospitality however represented the lower end of salary increase projections.
“On the back of improving business confidence, a stable government and moderating inflation there is a significant improvement in business confidence across companies, however this confidences is not reflecting in salaries. The projected salary increase number shows a subtle improvement over salary increases in the last 3 years. Companies across industries are continuing to take a cautious stance and are not going for aggressive pay increases,” said Anandorup Ghose, Rewards Consulting Practice Leader at Aon Hewitt India. The 19th edition of the study was conducted had data analysed from 580 companies.
The survey also shows that almost 70% of the respondents expect improvement in the business outlook and half of all firms believe that positive business sentiment and increasing pay budgets in their competitive market are driving factors in their decision to increase salary projections from earlier years.
Companies have also become more severe in their ratings and the number of top performers has fallen by 30% . This proves that companies will make their talent differentiations sharper and make budget allocations accordingly.
The expected move in job market will has also impacted attrition. The study showed that although overall attrition rate at 18.1% is similar to last year's , key talent movement has shot up by 31%.
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Text: Jacquelyn Smith, ET Bureau
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Most people think it's difficult - or even impossible - to determine how well they're performing during a job interview. But if you look closely, the hiring manager's body language and subtle cues will probably tell you exactly how they feel about you as a candidate.
If you detect any signs that the interview is going horribly, it's important to maintain your confidence and a positive attitude, no matter how discouraged you may be.
Here are 15 telltale signs the interview may not end with a job offer..
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