Saturday, 25 February 2017

India Inc pay hikes to be at 8-year low in 2017

India Inc's salary hikes in 2017 are projected to be at a eight-year low. According to a survey by Aon Hewitt, the average pay hikes will be 9.5 percent across industries. It was 10.2 percent in 2016. The lowest projected hike was 6.6 percent in 2009 during the global financial crisis. Anandorup Ghose, Partner at Aon Hewitt India told that this drop is on the back of slower economic growth, low gross domestic product (GDP) forecast as well as global turmoil including Brexit and US President Donald Trump's visa tightening moves that could impact Indian companies. However, he added that unlike the period of financial crisis in 2009, companies will not take any knee-jerk reactions with respect to staff costs.

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