Average pay increases in Indian companies will remain at 10% in 2017, unchanged from last year but still the highest among developed and emerging markets in the Asia Pacific, according to the Salary Budget Planning report of Willis Towers Watson to which ET was given exclusive access.
However, in the light of actual salary increments having fallen short of projections in the last two years, Indian employees could well be faced with an average growth that’s below double digits for the the first time since 2011, the report said.
We are seeing lower salary increase budgets across much of the region,” said Sambhav Rakyan, data services practice leader, Asia Pacific, Willis Towers Watson, a global advisory, broking and solutions company. “India will still likely see the highest salary increase in 2017 among the developed and emerging markets in APAC.
The survey covered 300 companies across sectors in India and about 10,000 companies globally. Of the respondents, 34% projected a positive business revenue outlook for the next 12 months versus 41% last year. Those who see no big in revenue amounted to 59% of respondents.