India Inc salary hikes in 2013 likely at 10.3%, lowest in decade: Aon Hewitt
Reflecting the growth expectations of just 5 per cent, corporate India is expected to offer its employees an average salary rise of 10.3 per cent for 2013, which might further be revised downwards and may touch 9-9.5 per cent when the actual figure comes out, Aon Hewitt India Partner - Talent & Rewards Sandeep Chaudhary said. "In sync with the economic outlook, 10.3 per cent increase is among the lowest the country has seen in a decade (barring the subprime crisis year)," Chaudhary told reporters here.
Chaudhary further added that "though business sentiment is strengthening on account of inflation reaching a three year] low and stock markets rising upwards, the cautious streak is] evident in the projected salary increase numbers."
According to the 17th edition of the Annual Salary Increase Survey of Aon Hewitt, the projected increase in salary in India at 10.3 per cent is the fifth highest across mthe world.
Venezuela topped the chart with 25.6 per cent rise andArgentina is at the second position with 24.2 per cent, followed by Vietnam and Tanzania at 12.6 per cent and 10.6 per cent, respectively. However key talent continues to get a disproportionate share with the average increase projected at 14.1 per cent.
"Cost consciousness and performance orientation are thekey themes
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