The Financial Express
Indians will get highest pay hike in 2006: Hewitt CORPORATE BUREAU<http://www.financialexpress.com/about/feedback.html> Posted online: Tuesday, September 06, 2005 at 0000 hours IST *NEW DELHI, SEPT 5: *Indian executives are projected to get a 14% salary hike in 2006, the highest in the Asia Pacific region. While the Chinese and the Filipinos are likely to be richer by 8.1%, the Japanese will get a meagre 2.8% hike.
In India, employees in media, entertainment, IT & ITeS sectors will receive the highest increments. Salary hikes in the country continue to be high because of the phenomenal growth in IT and ITeS sectors, according to the preliminary results of the annual Asia Pacific Salary Increase Survey by Hewitt Associates.
High attrition across sectors in India is putting pressure on human resource managers to retain talent. The average turnover rate in India was at 15.4%last year. Attrition rates in sectors like ITeS crossed 40%. Companies are strengthening their reward management policies to retain employees and enhance productivity.
Last year too, India topped the salary hike charts, followed by China, the Phillipines and Singapore. Hewitt had projected a 14.5% hike for employees in India in 2005. For 2006, while the salary increase in Korea is projected at 7.1%, employees in Thailand and Singapore are likely to receive 6.5% and 4% respectively. -------------- next part -------------- An HTML attachment was scrubbed... URL: <../attachments/20050906/d6c42780/attachment.htm>