Skip to main content

India to see 10 per cent salary increase in 2017: Survey

India to see 10 per cent salary increase in 2017: Survey


NEW DELHI: Salaries are expected to rise by 10 per cent in 2017, while star performers will attract much more as companies are discernibly prioritising such employees, says a report.
According to the 2016 Salary Budget Planning (Q3) Report released by global advisory, broking and solutions company Willis Towers Watson, salaries in India are projected to rise 10 per cent in 2017, same as the actual increase in 2016.
Once average inflation for India of 5.7 per cent is taken into account, the projected increase in real terms for 2017 will be 4.3 per cent, down by a fraction from 4.4 per cent in 2016.
The report noted that with tighter salary increase budgets, organisations are prioritising their top performers.
Similar to trends in the Asia Pacific region, the report indicates that in India, 38 per cent of the budget for salary increase goes to top performers. Another 34 per cent is shared by above-average performers while the remaining 28 per cent goes to average performers.
"The data clearly shows a greater emphasis on rewarding high performers rather than across-the-board increases for all workers. Without such differentiation, companies will face pressure in attracting and retaining talent, especially for in-demand areas," Sambhav Rakyan, Data Services Practice leader, Asia Pacific, at Willis Towers Watson said.
The report further noted that salaries were projected to rise 10.8 per cent in 2016, but in reality rose just 10 per cent - the second time below projected increases since 2015.
"If that pattern continues in 2017, Indian employees could see a single digit salary increase for the first time since 2011," the report said.
When compared to developed and key emerging markets in the region, India's 2017 projected salary rise is the highest.
Indonesia at 9 per cent, Sri Lanka at 8.9 per cent, China at 7 per cent and Philippines at 6.4 per cent are the other countries that make up the top five in this group.
Salaries in developed markets such as the US and UK are projected to increase around 3 per cent.
The pharmaceutical sector continues to project higher salary increases as compared to most other sectors at 11 per cent, while the financial sector will likely remain well below average at 8.5 per cent.
The projected salary increase in the high tech sector for 2017 is likely to be the same as the previous year at 10 per cent.
The 2016 Asia Pacific Salary Budget Planning Report is a bi-annual survey compiled by Willis Towers Watson's Data Services Practice. The survey was conducted in July 2016. Around 4,000 responses were received from companies across 22 markets in Asia Pacific.
Labels:

Comments

Post a Comment

Popular posts from this blog

Problem: Date Formatting cannot be Changed in Microsoft Excel

In this article, we will learn how to change the date formatting. We will use “Text to Column” wizard to resolve the problem of change the date formatting in Microsoft Excel. Let’s understand the functions: - Text to Column:  “Text to Column” is used for separating the cell content which is depending on the way your data is arranged. You can divide the data on the basis of content in the cell such as space, comma, period, semicolon, etc. Let’s take an example and understand how we can convert the date into Text. We have dates, foramatted as text in column A. Now, we want to convert it into date format.     If we want to convert the formatting into numbers, then we need to follow below given steps:- Select the range A2:A11. Go to Data tab, and click on Text to Columns from the Data tools group.     Covert Text to Columns Wizard – Step1 of 3 dialog box will appear. Select fixed width, and click on Next button.     Skip step-2, and...
Post a Comment
Read more

Now You Can Use Reliance Jio 4G Services On 2G And 3G Smartphones

Indians will always be at the top in availing any free internet facility. As, Reliance Jio aims to offer free 4G internet to the 90% of Indians, hence, with one of its services now you can use Jio 4G services on 2G and 3G smartphones. Now You Can Use Reliance Jio 4G Services On 2G And 3G Smartphones Who doesn’t want the free internet? Of course, we all want, Indians will always be at the top in availing any free internet facility. Jio, which is also known as Reliance Jio and officially as Reliance Jio Infocomm Limited has already given its users free unlimited 4G data for 90 days. As the Reliance Jio aims to offer free 4G internet to the 90% of Indians along with the free voice calls and messaging services. So, we all must agree that Indians are always at the peak when it comes about available any internet facility. We all know Jio, which is also known as Reliance Jio Infocomm Limited has previously given its users free unlimited 4G data for 90 days. Not only that but even th...
Post a Comment
Read more

Apple’s Lisa operating system to be released for free in 2018

Apple’s Lisa operating system to be released for free in 2018 The Computer History Museum in California has planned to release Apple’s legendary Lisa operating system (OS) for free as open source this year, the media reported. The Mountain View-based museum announced that the source code for Lisa, Apple’s computer that predated the Mac, has been recovered and was being reviewed by the tech giant itself, reports 9to5Mac. Lisa, released in 1983, was one of the first personal computers to come equipped with a graphical user interface and a support for mouse, but ultimately only sold 10,000 units. “Just wanted to let everyone know the sources to the OS and applications were recovered, I converted them to Unix end of line conventions and spaces for Pascal tabs after recovering the files using Disk Image Chef, and they are with Apple for review,” said Al Kossow, a software curator at the museum. “After that’s done, the code that is cleared for release by Apple will be m...
Post a Comment
Read more