Page 4 - Salary Hike

Salaries in India expected to increase by 9.5% in 2024: Aon survey

Salaries in India are expected to increase by 9.5 per cent in 2024, slightly lower than the actual increase of 9.7 per cent in 2023, largely in response to market dynamics, according to global professional services firm Aon plc. According to the firm's annual salary increase and turnover survey 2023-24 India, that analysed data across 1,414 companies from almost 45 industries, salary increase in India seems to have stabilised at high single digits, after the post-pandemic high increments in 2022. "The projected increase in salaries in the Indian formal sector indicates a strategic adjustment in response to the evolving economic landscape. "Despite a conservative global sentiment, industries such as infrastructure and manufacturing continue to project robust growth, indicating the need for targeted investments in certain sectors," said Roopank Chaudhary, partner and chief commercial officer for Talent Solutions at Aon in India. India continues to roll out the highest salary increase

Data-driven hiring, nearly double-digit pay hikes to mark HR ways in 2024

Data-driven hiring ways, inclusive and diversity-focused practices and nearly double-digit salary hikes are likely to leave their stamp on the human resource landscape in 2024 as companies continue to scout for the right talent amid economic uncertainties. Over the last few years, the expectations of candidates and employers have changed dramatically. Employees want workplace flexibility, a greater emphasis on diversity, and impartial hiring processes, while companies are eager to provide fair, engaging and streamlined candidate experiences to attract and retain top talent, according to experts. Designing comprehensive well-being programmes, including flexible work arrangements, inclusive culture and work-life balance policies will be among the priorities for companies. Experts said that data-driven hiring will be one of the key trends that will redefine the HR landscape. AI-powered tools will revolutionise HR practices by automating repetitive tasks and providing personalised ...

TMS 589: Funding winter, IT defer hikes, markets, two-state solution

Is India's funding winter thawing? Why is IT sector facing painful readjustments? Do IT stocks have more steam left? What is the two-state solution? All answers here

Infy hands out salary revision letters to employees, hikes effective Nov 1

Traditionally, Infosys rolls out its annual salary hikes for employees below the senior management in April, with other people in the organisation receiving their share of hikes in July

Salary hike, 5-day work week for PSB employees by mid-December: Report

The current wage agreement for PSB employees expired on November 1, 2022

Wipro may skip salary hikes for top performers with higher compensation

The move comes at a time when Wipro is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals

Cops book outsourced staff of UP helpline 112 after protests on salary hike

Police on Wednesday booked five named and 200 unidentified women outsourced employees of the emergency helpline UP 112, a day after they staged a protest outside its headquarters here demanding a salary hike and job security. The FIR was lodged on the complaint of Police Sub-Inspector Dhirendra Pratap Singh at the Sushant Golf City police station. Additional Deputy Commissioner of Police, (South Zone), Shashank Singh, said that the protestors have been booked under the IPC sections 147 (rioting), 149 (every member is of part of unlawful assembly) 188 ( assembly of more than five), 283 (obstruction to public passage) and 341 (wrongful restraint). Those named in the FIR include Harishta Srivastava, Pooja Singh, Reena Sharma, and Shashi while police are trying to identify the other unidentified mentioned in the FIR. The protesting employees continued their demonstration at Eco Garden in Lucknow on Wednesday. Meanwhile, the state government removed the Additional Director General (AD

Indian cos may give 9.8% salary raise in 2024: Willis Tower Watson report

Companies in India are expected to give a salary raise of 9.8 per cent in 2024, slightly lower than the actual salary increase of 10 per cent in 2023, as companies across industries are still closely monitoring their cost structures, says a survey. According to Willis Tower Watson's latest 'Salary Budget Planning India Report', the median salary increase in India is forecast to rise by 9.8 per cent in 2024, close to the actual salary increase of 10 per cent in 2023. The survey was conducted in April and May 2023. Approximately 32,512 sets of responses were received from companies across 150 countries worldwide. The survey had 708 participants from India. In Asia Pacific, 7,372 organisations from 22 markets responded. Being an emerging market, salary increases in India continue to be the highest across Asia Pacific (APAC). The 2024 salary increase for Vietnam is projected at 8 per cent, followed by China at 6 per cent, Philippines at 5.7 per cent and Thailand at 5 per cent. "Compani

Salary hikes of major IT companies take a back seat amid weak demand

Accenture for instance will not be providing salary hikes to its employees in India and Sri Lanka this year, except in critical skill areas and where it is legally mandated

Accenture skips pay hikes and promotions in India and Sri Lanka this year

The US-based IT firm has cited challenging macro environment and slower growth than was initially planned as reasons for skipping pay hikes during the company's financial year (September to August)

Wipro to roll out merit salary increases, effective by December 1

Wipro delayed the announcement by a quarter reportedly due to macro headwinds and margin pressure

Infosys to begin fresh appraisal cycle; last year hikes still pending

Citing macroeconomic conditions, many IT companies have opted to hand out small increment or defer salary hikes this year

IT sector companies defer hikes, lower increments amid slow growth

Wipro has postponed salary hikes, while Infosys and HCL opt not to implement raises

19,000 patwaris in Madhya Pradesh go on strike seeking higher pay, perks

Some 19,000 revenue department staffers called patwaris on Monday went on an indefinite strike seeking hike in salary and perks. These patwaris oversee land mutation and caste certificate issuance processes. "We returned our bags (having measuring tapes and land records) at the collectorates in the state between 11 am and 2 pm and went on strike. We protested in the tehsil headquarters barring Agar Malwa district, which was observing a local holiday," MP Patwari Sangh president Upendra Singh Baghel told PTI over phone from Sidhi district. "Our pay scale has not been hiked for the last 25 years. The requisite to become patwaris in the revenue department is graduation now. We are getting a pay scale of Rs 2100, we want it to be hiked to Rs 2800," he said. "Even the Class XII pass staffers are getting Rs 2800 in different departments of MP. We have to work for 52 departments, including revenue. Besides pay scale hike, we are demanding time pay scale and time bound promotion," he ...

NDMC clears proposals for 7th Pay Commission, Gole Market restoration

The New Delhi Municipal Council (NDMC) in a meeting on Wednesday approved various proposals, including grant of Seventh Central Pay Commission (CPC) pay scales to its employees and restoration of the Main Gole Market building as a museum, officials said. The council's meeting was attended by Union Minister Meenakashi Lekhi, NDMC chairperson Amit Yadav, vice chairperson Satish Upadhyay, council member Kuljeet Singh Chahal among others. Addressing a press conference after the meeting, Upadhyay said the redevelopment plan of the Gole Market has been approved and the main building there will be turned into a museum with an aim to make it a tourist site. "We passed the redevelopment plan of the Gole Market after today's council meeting. We are also planning to turn the main building into a museum which can be a tourist attraction. The theme is yet to be decided. We have also decided to end the disparity in salary of guest teachers and consultants," the NDMC vice chairperson said. Speaki

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

62% corporate employees get salary hikes, small cities do better: Study

19% executives in leadership positions receive increments in the 5-10 per cent range

Infosys, HCLTech put off pay hikes for employees; TCS bucks trend

Infosys typically rolls out hikes for its senior management in July, but so far, they have not received any communication on the matter, the report said

Ajit Agarkar likely to become BCCI chief selector; board to hike salary

The position has been vacant since former chief selector Chetan Sharma resigned in February

Indian firms dole out double-digit hikes, most employees satisfied

A fraction of employees surveyed even got hikes up to 20-25 per cent for their exceptional performance