Salary, bonus to rise at slower pace: SurveyNovember 10th, 2011 - 4:55 pm ICT by IANS
New Delhi, Nov 10 (IANS) The majority of Indian firms plan to hike salary and bonus to their employees in the coming months, but the percentage increase is not very attractive, an industry survey has revealed.
Almost 86 percent employers are planning to hike salary and pay bonus to their employees in the 2011-12 appraisal, according to a survey conducted by MyHiringClub.com, a hiring vendor consolidator firm.
The quantum of increment to be doled out this year by companies largely falls in the range of 5-15 percent.
“This basically shows that though a majority of companies are giving increments this year across professions, the percentage increase is not very attractive,” Rajesh Kumar, CEO of MyHiringClub.com, said in the survey report.
As opposed to the trend last year where 64 percent of companies were willing to dole out bonuses, this year’s findings show a healthy trend on the bonus front. Over 80 percent of surveyed firms are willing to dole out bonuses in 2011-12.
“India Inc’s appraisal is directly linked to the level of economic activity, but this appraisal season rising inflation is a big game changer for determining bonuses and salary hike,” Kumar said.
Some 2,156 senior executives of companies and 12,674 employees participated in the survey conducted online recently.
Even though the trends in salary increase are not very encouraging, only 28 percent of the respondents expect a job change or promotion this year.
Some 67 percent respondents are either actively or passively evaluating a career change, with only 26 percent replying in the negative.
“This shows that a level of dissatisfaction has enveloped the working community in their current jobs and corporate human resource has a proactive role to play in order to ensure that employee turnover is at a bare minimum,” the report said.
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