Staff costs for BSE 200 firms rise, salary hikes remain muted

Mar 18 2014, 08:55 IST
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From an overall human resources point of view, we are maintaining our retention levels pretty high, attrition is at 10.9%. (AP) From an overall human resources point of view, we are maintaining our retention levels pretty high, attrition is at 10.9%. (AP)
SummaryAggregate employee costs for first nine months of fiscal 2014 has seen sharp jump.

environment are definitely helping us in keeping the retention levels at this stage,” Ajoy Mukherjee, head of global human resources at TCS, said in a quarterly earnings conference call.

If one excludes these three firms from the sample of BSE 200 companies, the aggregate rise in employee costs drops to the four-year low of 13.97%.

No doubt then that the survey conducted by Aon-Hewitt last month painted a grim picture as the consulting firm predicted just 10% growth in salaries next fiscal, down from 10.2% growth projected for the current fiscal.

Dubey believes that while the overall macro indicator indicates a positive trend over the past few months, the business scenario and investment climate will really emerge after the election results.

“Hiring in the coming years will be focused around fresh talent from campuses and building capability measures to get them business ready quickly,” added Dubey.

Salary Hike

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