Professionals anticipate moderate to low pay hikes this year
46% of senior professionals expect increments ranging between 6-15%: Snap Poll by HeadHonchos.com.
New Delhi, 17th April 2013: Professionals are forecasting moderate pay raises during the annual appraisal cycle this year, with 46% of respondents expecting increments to range between 6% and 15%, as per a Snap Poll conducted by HeadHonchos.com, India’s premier job search & career portal, exclusively for senior professionals.
While nearly one-fifth or 19% of the respondents who participated in the HeadHonchos’ Poll expect salary increments of over 15% this year, a significant 35% believe that they will not receive increments at all or that salary increases will be less than 5% in their organisations.
Commenting on the poll results, Mr. Uday Sodhi, CEO, HeadHonchos.com said, “Appraisals are a highly anticipated event amongst professionals. While as a rule those who deserve good salary hikes will get them, employers have adapted to the changing business environment. The focus for most employers continues to be on performance-linked reward & recognition systems, often through compensation packages that have a high variable component.”
*The results are based on a snap poll of over 230 professionals.
This is in keeping with trends in recent years that have seen increments in the 11-13% band, as well as the growing importance of variable pay and performance-linked bonuses. While high performers continue to be valued, organizations have balanced the need to incentivise employees with growing pragmatism. The rightsizing of expectations by management professionals clearly reflects a sense of realism as they adapt to the post-2008 years.