thunderstorm369 Posted December 31, 2009 Report Posted December 31, 2009 [img]http://www.telugudreams.com/intranet/tdadmin/upload/news/Highest%20pay-hikes%20_img.jpg[/img]It’s time for working professionals in the country to rejoice. If a new survey conducted by Hewitt Associates is to be believed, most Indian companies are going to give their employees a pay hike of around 10 per cent in 2010 — the highest in the Asia-Pacific region. China will give a hike of 6.7 per cent, according to the survey, and the figures for Japan stand the lowest in the region with only 2.1 per cent. Experts say that such raises just go to show that the country’s economy is stabilizing and that things are gradually going back to normal in all sectors, as far as salaries and promotions are concerned.Even the IT industry, which was badly hit by the global meltdown, is looking at salary increases next year. A spokesperson for Polaris states said, “We have not yet fixed the percentage of the upcoming salary hike, we need to discuss with our team leaders before we settle on that. But there definitely will be a pay hike, and we are also planning to start fresh recruitments.”HR managers say that the normal increase in salary that is given to employees every year will continue from next year, and since there was a freeze in such increments for 2009, this would be a fillip for employees. Anbu Kamaraj, DGM HR of E4E Healthcare says, “The salaries of our employees will definitely go up, but considering the fact that we have just recovered from an economic meltdown, the evaluation will get more critical.”CEOs say that with the economy slowly rebounding back to normal, such hikes are to be expected. Says Kris Lakshmikanth, Founder CEO and managing director of The Head Hunter India Private Ltd, “Sectors like financial services, retail and software are doing much better now compared to last year, and the middle and upper-level employees in these sectors will definitely see a salary rise of about 10 per cent for 2010, compared to a freeze on salary appraisals last year.”Industry experts say that such pay hikes are normal raises that an employee would usually get in a year. G Vishwanathan, the Divisional Head, operations, of Vivek’s Ltd says, “In India, the usual pay hikes that an individual would receive every year before the meltdown was around 10 per cent. Now, most of our companies will be going back to normal.” However, not all companies are hiking salaries just yet. A Priyadarshini, senior HR Manager with Pride technologies says, “Our situation hasn’t become normal yet, so there are no hikes for now.”Country wise pay hike for 2010* India: 10 per cent* China: 6.7 per cent* Malaysia: 5.2 per cent* Korea: 5.1 per cent* Australia: 3.4 per cent* Hong Kong: 2.9 per cent* Singapore: 2.6 per cent* Japan: 2.1 per cent
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