IndiaShining: Lower pay hikes seen for Indians in 2009

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posted by rsk4you 1254 days ago
Anticipating a decline in its business performance in 2009, corporate India is likely to cut back on the planned salary increase in the coming year, even as most firms plan to avoid huge job cuts, a latest survey says. A majority of companies in the country are trying to be selective in planning the workforce, compensation and benefit cuts for 2009, while they anticipate a decline in business performance next year, according to global HR consultancy, Mercer. The survey revealed that 83 per cent companies expect salary increases in the coming year to be lower than originally planned by them. The responses indicate that the companies are planning to look closely at holding down the level of compensation increases in 2009. However, only 19 per cent of survey respondents are considering the more drastic step of freezing 2009 salaries at 2008 figures.
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