Hewitt Study predicts highest salary hikes in India
Employees working in India are due for a great 2007 ahead as the latest salary increase survey by global HR consulting firm Hewitt Associates has forecasted an average wage hike of 14.5 per cent for India in 2007. This double digit salary growth has continued in India for the fourth consecutive time. Hewitt surveyed 600 companies across 21 industries in five different employee groups, and said it expected salaries in the financial sector to grow the fastest this year. Some highlights of the study are : Globalization and increased competition for the talent pool is responsible for forcing companies to increase incentives and compensation to attract high quality professionals and retain them. Salaries in India are continuing to rise and were likely to reach the same levels as in the more developed economies in Asia in the future. Indian organisations were leading the multinational companies in paying higher salary hikes and that in 2006, domestic companies saw an overall salary increase ...