Average salary hike for staff declined in H1 CY2017: Study
MUMBAI: The average salary hike for employees in some of the top sectors saw a significant drop in 2017 amidst uncertainty and slowdown in the job market. As per Wisdomjobs.com, an online recruitment and career solutions portal, appraisals were hugely impacted by the uncertainty gripping most of the sectors in respect to hiring and fewer job opportunities.
Most industries witnessed conservative appraisals that were considerably lower than the two-digit salary hikes seen in the previous year. The IT industry was in the forefront of this with several companies deciding to defer their appraisals for middle and senior level employees. “Most sectors have seen conservative appraisals this quarter on the back of several external factors that impacted them in the previous two quarters. The hiring outlook of Indian companies, although still positive, will be characterised by a wait-and-watch approach as they come to terms with the real impact of automation and the consequent need for re-skilling their employees,” said Ajay Kolla, founder & CEO, Wisdomjobs.com.