| Last year, souring food / oil prices & subsequent | | | | sops to their employees. |
| collapse of the stock markets all across the globe | | | | Some of the FMCG & Telecom companies are |
| had pushed the entire world in a state of deep | | | | expected to offer average pay rise by around 10% |
| recession. Almost every Indian was badly shaken | | | | in addition to attractive bonuses this year. Top |
| & moved into a state of great pessimism. The | | | | performers can expect something between 15 to 20 |
| impact of the global slowdown had been tremendous | | | | %. Of course these pay raises can’t be |
| on the IT sector witnessing large scale headcount | | | | compared to the great escalations seen during the |
| culling or freezing of wages. | | | | time of boom, still it is going to be a matter of great |
| There is a Good News !!!!!! - for the all especially the | | | | pleasure for all concerned. |
| IT Sector guys. There is a prediction by a couple of | | | | After the 26/11 episode, everyone across the globe |
| eminent HR consultants of global repute, through | | | | started realizing the importance of security. As such |
| their recently conducted survey, that there is | | | | the security sector in our country has shown an |
| likelihood of single digit salary raise sop in India this | | | | average growth of 25%. Thus security sector |
| year. | | | | companies are also likely to motivate their employees |
| We feel that even a single digit pay rise is a better | | | | through big pay raise including attractive bonuses. |
| sop for an employee living under the fear of pink | | | | Fresh large-scale recruitment can be seen across the |
| slipping otherwise. | | | | Healthcare sector, being quite conscious of the |
| Going by the predictions by Hewitt Associates, Hay | | | | importance of Quality Personnel & not |
| Group and Watson Wyatt, this year, the employees | | | | compromising with some short-term economic jolts. |
| in India can expect an average salary raise by 8.2%, | | | | Maruti Suzuki has beaten all previous records by |
| 7.25% and 7% resp. as compared to a much lower | | | | registering the highest sale during the year 2008-09. |
| single digit pay rise elsewhere. | | | | Thus going by the past records, its employees can |
| According to the predictions by Hay Group, UK might | | | | expect hefty reward this year, may be beating their |
| be the lowest in average pay raise by a meager 1%, | | | | past records. |
| while US & Europe can follow by a marginally | | | | Although anticipated salary raises during 2009 for all |
| better score of 2%. | | | | job categories shall be falling by around 3% all across |
| Similar survey by Hewitt predicts a better score of | | | | the globe, sops shall be coming to Indians due to the |
| 3.2% pay rise in the US, 3.5% for Australia and 3.8% | | | | recovery of economic situation in the country. |
| for Singapore. | | | | The economic recession has forced the companies to |
| | | | | have a break & plan more strategic approach |
| The surveys not only covered the IT sector, but | | | | towards their appraisal system. Now the time of |
| covered variety of sectors like FMCG, Insurance, | | | | lenient appraisal system has gone, as slightest |
| Healthcare, Pharma, Consumer Durables, Security | | | | inefficiency & lack of performance is certainly |
| Services etc. Majorities of the companies in such | | | | not going to be digested by any company any more. |
| sectors are initiating measures to boost up the | | | | Although this is a good news, it is not the time for |
| morale of their employees through pay rise in the | | | | relaxing either. All employees need to be |
| bracket of a double digit or so. In-spite of recession, | | | | introspective & watchful of their performance |
| many big & reputed companies have come out | | | | & must draw their fast track action plan to |
| with encouraging quarterly balance sheets, which has | | | | improve their skill levels & try to develop a |
| acted as a great catalyst to such a move to provide | | | | multi-tasking personality. |