According to a mid-year survey on 'Performance & Reward Trends' by Hewitt Associates, companies across industries are strongly differentiating rewards on the basis of performance but majority of them are not considering any layoffs or severe salary cuts in current fiscal. The survey revealed that 16 per cent of the companies surveyed have a salary freeze and were mainly organizations in the financial services, IT and ITeS sector.
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
India Inc will see single-digit salary increases for the first time in six years and the salary increase projections may fall even further in the coming months, says a report by HR consultants Hewitt Associates.
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