Corporate India to offer increments in 5-10% range for FY18

Demonetisation drive has no affect on hiring new recruits

Corporate India is bullish about its hiring plans and is expected to dole out increments in the range of 5-10 per cent in this financial year, says a survey.

According to Genius Consultants' Hiring, Attrition and Compensation Trend 2017-18 survey, 70 per cent respondents said new, replacement hiring is expected across industries and 62 per cent of corporate houses said projected increase in staff strength in their companies will be one to 15 per cent.

Moreover, a whopping 73 per cent survey takers consider that the demonetisation drive in India/India Inc did not affect hiring new recruits, the survey noted.

"Over 50 per cent of the corporate participants believe that the range of increments in their organisations will be five to 10 per cent for 2017-18," Genius Consultants Chairman and Managing Director R P Yadav said.

Region wise, Southern zone has been projected to have the brightest hiring scenario for organisations/industries at 34.43 per cent, the survey said adding that four to eight years' work experience levels will have the most opportunities.

On attrition, over 39 per cent respondents of 734 companies across India said that attrition level in their organisations is five to 10 per cent and junior employees are most susceptible to attrition.

Genius Hiring Trend Survey is an online survey conducted every year to gauge the hiring trends across varied sectors.