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Salaries to grow by 10% across industries in 2018: Survey

Source | https://timesofindia.indiatimes.com : By Namrata Singh

MUMBAI: Organizations are expecting to increase salaries by 10% across industries and career levels in 2018, according to Mercer’s latest India total remuneration survey.

As per the survey, 55% of these companies are expecting to increase their headcount. The comprehensive survey represents 791 organizations across various industry sectors. Among different industries surveyed, the projected salaryincrease ranges from 9% to 10% overall.

Shanthi Naresh, India business leader, talent consulting and information solutions, Mercer, said: “Indian industry continues to project low double digit increases, driven by a combination of an optimistic economic environment and a scarcity of the right talent. Though cross industry ranges have narrowed down to within a 1% point, we are witnessing more pronounced sub-segment differences within industries.”

Mercer said in 2018, one in two companies are planning to increase headcount, with Shared Services and Hi-tech leading the pack, similar to what was seen in the past two years.
“The Indian High Tech Market is undergoing a tremendous change and disruption, due to changing nature of jobs. New technologies like Artificial Intelligence, Machine Learning, Automation, Robotics, IoT have changed the skills required to perform the job and there is a constant upskilling and reskilling in the market. IT employers are increasingly hiring for newer skill sets. In the Shared Services sector, there is an influx of captive organizations across retail, FMCG, manufacturing and pharmaceuticals organizations. Newer roles are emerging in supply chain planning, analytics, demand planning, computer imagery, store design, merchandising etc. With the evolution in value chain of work and the advent of such transformational roles, companies are looking at increasing headcount,” said Shanthi Naresh.
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