Vinay Umarji
The Salary Budget Planning report released by Willis Towers Watson said the median salary increase at the executive level for 2020 is projected at 10.1%, an increase from 9.6 per cent in the previous year.
Forty-two per cent employees could potentially leave their job in 2 years.
A majority 56 per cent Indian employees would rather save more as compared to 29 per cent who would prefer to work a few years longer.
Taking inflation into account, China and Vietnam at 4.9 per cent lead the way, while Japan at 0.5 per cent and India at 2 per cent are among countries offering the smallest raises.
HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems
Indian employees have the second highest savings rate at 16 per cent, second only to China.
About 72 per cent of Indian employers, i.e. three in four, believe the focus on such initiatives is likely to grow stronger two years down the line.
A majority of respondents expect the number of jobs generated to increase in 5 years.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Managing human resources remains a major and under-appreciated challenge for most start-ups.
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