Click to play videoNew Delhi: After all the news of corporate frauds, economic slowdown and recession, finally there is some good news for Indian employees.
Salaries would continue to rise and lay-offs are not on employer's mind says the latest survey by Hewitt, an HR consultancy firm.
Salaries are projected to rise at an average of 8.2 per cent in 2009, down though from 13.3 per cent at which they grew in 2008 according to the Hewitt survey.
India could be the safest bet for employment as only 16 per cent Indian companies are considering lay-offs as an option against 55 per cent companies in the United States of America and 30.6 per cent Chinese companies.
In more good news, 60 per cent companies are still considering hiring new employees and nine out of 10 companies are still giving promotions to deserving candidates.
So how are these companies going to cope with the current economic slowdown?
"I think organisations are going to be far more strategic in the way they provide salary increases across levels of management and definitely more stringent in the way they evaluate performance to increase salaries," says Sandeep Chaudhary, Business Leader at Hewitt.
Junior managerial employees can expect a maximum salary growth with a projected increase of 8.8 per cent against 14.3 per cent which they achieved in 2008.
Top management can expect a relatively slower growth at 7.4 per cent against 12.4 per cent growth registered in 2008.
Sector wise, pharma is expected to see maximum salary growth with an average projected increase of 13 per cent followed by telecom services at a distant second with 11.3 per cent and FMCG coming third with 11 per cent.
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