At a time when the global job scenario is gloomy, India Inc is expected to increase salaries up to 8% this year with infrastructure and FMCG sectors likely to see the maximum hikes, global HR consultancy Mercer says.
"Overall Indian companies are likely to increase salaries between 6 and 8% in 2009," Mercer India business leader (information product solutions) Gangapriya Chakraverti told PTI.
Despite the economic slowdown troubling the corporate world, the country's fast moving consumer goods (FMCG) and Infrastructure sectors are likely to see the highest increases in salaries this year.
"Sectors like FMCG and infrastructure are expected to get the highest hikes of 8-12% this year," Chakraverti added.
Meanwhile, financial services and Information Technology sectors, which have been severely impacted by the global slowdown, are unlikely to see any considerable increases in wages this year.
"IT and financial services may be the worst hit ... IT sector may see an average salary increase of 4% this year," Chakraverti added.
With the beginning of the new financial year, companies are now drawing up plans related to the salary increments.
However, in the wake of the severe economic conditions firms are looking for ways to answer the HR challenges in a balanced manner.
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