Thanks to the healthy growth of the Indian economy, despite the gloomy global economic environment, employees in the country are likely to get almost 12 per cent hike in their salaries in 2012. The projected pay hike is indicative of a positive, yet cautious, outlook by the organisations amid an uncertain economic environment, says a survey conducted by consultancy firm Aon Hewitt.
In its ‘Annual India Salary Increase Survey' released on Tuesday, the global human resources consulting and outsourcing firm said that India has topped the list of countries in terms of salary hikes for the tenth consecutive year within the Asia Pacific region. However, compared to 2011, there would be a marginal drop in salary hike — from 12.6 per cent in 2011 to 11.9 per cent in 2012.
Significantly, India would see the highest salary increase in the region, followed by China and the Philippines, which are likely to see 9.5 per cent and 6.9 per cent salary hikes, respectively, in 2012. Among other Asia Pacific nations, Australia is likely to see a modest 4.6 per cent hike, Hong Kong 5 per cent, Japan 2.8 per cent, Malaysia 6.2 per cent and Singapore 4.8 per cent. “We are seeing encouraging signs in recent weeks on business sentiments. While organisations across industries are keeping a keen and watchful eye on this oscillating macro-economic environment, the number reiterates that organisations are taking a long-term view on talent,” Aon Hewitt Practice Leader (Compensation Consulting) Sandeep Chaudhary told journalists here.
