2010 is resurgent year for employees: Hewitt study -Governance Now

2010 is resurgent year for employees: Hewitt study

You are likely to take home 10.6 percent more this year

GN Bureau | March 4, 2010

The salary increase for employees in 2010 in India is projected to be 10.6% as compared to 6.6% in 2009, according to a survey carried out by Hewitt Associates.

Sandeep Chaudhary of Hewitt Associates, presenting the 14th annual salary increase survey, said Indian companies are expected to out-do the MNCs in
employee salary hike with a projected 11.4% increase as compared to 10.2% for the latter.

The highest salary increase is projected in the energy, engineering and telecom sectors in the range of 12.2% to 12.8%. The increase is slated to be 8.9% and 8.5% in the IT and ITeS sectors respectively. The IT industry will show the biggest shift of 6% change from 2.9% in 2009, the survey estimates. The IT industry, progressing towards resurgence but showing a cautious outlook, is expected to gain momentum only in mid 2010.

The trend is also positive from the prospective that the percentage of companies proposing salary cuts for 2010 have decreased to 0.7% from 7.4% last year. This year will also see a considerable decrease in layoffs or salary freeze.

The survey was conducted covering 465 companies across 20 primary industries, by the global human resource firm, Hewitt Associates in December 2009 and January 2010.

Comments

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2