Public RelationsIndia Inc may see 8% salary hike in 2010: Survey
India Inc is expected to witness a salary hike of 8 per cent, one of the highest pay increases in the Asia Pacific region, in 2010 riding on the country"s improved economic performance, said a survey.
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According to the survey by Hong Kong-based HR Business Solutions (HRBS), Asia Pacific"s average pay increase (expected) for 2010 is 4.8 per cent, higher than an actual pay increase of 3.2 per cent in 2009.
India is forecast to witness pay increase averaging eight per cent in 2010 compared to 5.9 per cent in 2009, which represents a 36 per cent upward revision, the report revealed.
"The higher salary increase expected for 2010 is very much driven by increased economic performance. India"s economy is expected to grow eight per cent in 2010 from forecast of about six per cent for 2009," HRBS Managing Partner Elaine Ng said.
"Expected global economic recovery now underway has already led to increased hiring in India as major employers step up staffing to meet business expansion," Ng added.
The survey found that 64 per cent of employers in the country increased their employees" salary in 2009, while 89 per cent are expected to do so in 2010 owing to increasing confidence in business performance.
Meanwhile, another survey by HR consultancy Hewitt Associates said fastest growing markets like India and China are likely to see salary hikes of 9.2 per cent and 6.7 per cent, respectively in 2010.