Despite the cautious economic scenario, employees can look forward to
moderate double-digit salary hikes in the coming fiscal on account of talent shortage, said various HR consultancies.
"The
economic sentiment this year is cautious, yet very different from the last slowdown. So, companies may not increase their headcount but they would not like to lose staff either. So, the wage levels will increase," E. Balaji, managing director (MD) and chief executive officer (CEO), Ma Foi Randstad, said.
"Appraisals in 2012 will be likely in the moderate double digits. Companies
will try to retain their key employees with pay hikes and incentives. However, it will be totally driven by individual performance," Balaji added.
According to Rajesh Kumar, CEO, MyHiring Club. com, the hike will be in the range of 12-14 per cent. "Year 2012 is yet another year where job seekers are going to experience positive hiring and double digit or an average of 14 per cent pay hike, along with handsome incentives, bonuses and perks," he added.
"India Inc is also trying to
come to terms with uncertainties this year. It is planning to concentrate more on the employees' satisfaction front," he said.
However, HR managers say that this hike is not going to be across the board but will be based on performance.
"The employers had been very cautious this time in terms of hiring by recruiting people who can fit into many roles and can do multi-tasking to boost productivity. Certainly, with the existing talent crunch no one would like to lose such workforce," a senior HR manager with Infosys Technologies told MAIL TODAY. "The hikes will be based on their level of productivity," the manager added.
According to various HR consulting firms, companies are increasing the variable component in the salary packages in order to retain the workforce.
"The negativity is based more on sentiment than the actual economic problem. What the employers have learnt from the last downturn is the mass exodus of employees post-salary freeze. Also, it becomes difficult for them to attract talent in future," another HR manager from Tata Consultancy Services (TCS) told MAIL TODAY . According to experts, the increments will vary from sector to sector.
While the recruitment firms forecast positive appraisal scenario for sectors like infrastructure, healthcare, engineering, education and IT, which will see double-digit hikes, increments could be lower in sectors like aviation, textiles and realty, which are reeling under huge debt.
Courtesy: Mail Today 
Special 
