OVERALL 12% SALARY INCREASE EXPECTED ACROSS INDUSTRIES IN 2012: SURVEY
In overall 12% salary increase is expected across industries in 2012 while 84% companies indicate buoyant hiring intentions this year, states Mercer's All Industries Total Remuneration Survey, a comprehensive survey of HR leaders representing 682 organizations across various industry sectors.
The salary increase forecast for 2012 continues to be the same as the actual salary increase of 12% for 2011. Among different industries surveyed, projected salary increase for the automobile industry is highest at 14.3%, followed by pharmaceutical and medical equipments at 12.8%, chemical at 12.2%, consumer at 12%, IT & telecom at 12%, and ITeS at 11.3%.
Employees in the insurance sector are expected to receive a relatively lower salary increase at 11% compared to other industries.
The salary increase forecast for 2012 continues to be the same as the actual salary increase of 12% for 2011. Among different industries surveyed, projected salary increase for the automobile industry is highest at 14.3%, followed by pharmaceutical and medical equipments at 12.8%, chemical at 12.2%, consumer at 12%, IT & telecom at 12%, and ITeS at 11.3%.
Employees in the insurance sector are expected to receive a relatively lower salary increase at 11% compared to other industries.
INFOSYS TO SET UP SECOND CAMPUS IN THIRUVANANTHAPURAM
Infosys Limited, India's second largest IT Company, signed an agreement with Technopark for 50 acres of land for setting up a second campus in Technocity
The agreement was signed by Infosys Senior Vice President H.R. Binod and Technopark CEO KG Girish Babu in the presence of Chief Minister Oommen Chandy.
Infosys has two development centres in Technopark Phase-I and Technopark Phase-II, employing about 4,100 professionals. Starting its Kerala operations in January 2004 at Technopark, Infosys now has its own campus adjacent to Technopark which forms part of Technopark Phase II Special Economic Zone (SEZ).
The agreement was signed by Infosys Senior Vice President H.R. Binod and Technopark CEO KG Girish Babu in the presence of Chief Minister Oommen Chandy.
Infosys has two development centres in Technopark Phase-I and Technopark Phase-II, employing about 4,100 professionals. Starting its Kerala operations in January 2004 at Technopark, Infosys now has its own campus adjacent to Technopark which forms part of Technopark Phase II Special Economic Zone (SEZ).
POTENTIAL JOB LOSSES IN TELECOM SECTOR ENORMOUS, FEEL EXPERTS
The potential job losses in the Indian telecom industry are "enormous" in the wake of 2G licence cancellations and many of the affected entities have started trimming their workforce, according to HR experts.
"Most of the companies whose 2G licences were cancelled are reducing their workforce. This is happening at all levels only people at key strategic positions are being retained...," HR firm TeamLease Services General Manager (Services) Madhubala Vaidyanathan said.
The Supreme Court in February cancelled as many as 122 licences for 2G spectrum, a move that has resulted in uncertainty in the fast-growing telecom sector.
"Potential job loss is quite enormous as the telecom industry was supposed to have provided thousands of jobs which would have done well for the economy," Vaidyanathan said.
Executive search firm GlobalHunt's Director Sunil Goel said that there could be potential job losses by looking at local market scenario for the telecom space.
However, hospitality, FMCG, financial services and banking "would be resource grabbing industries for ideal surplus resources from sales and marketing, customer service areas," Goel added.
"Most of the companies whose 2G licences were cancelled are reducing their workforce. This is happening at all levels only people at key strategic positions are being retained...," HR firm TeamLease Services General Manager (Services) Madhubala Vaidyanathan said.
The Supreme Court in February cancelled as many as 122 licences for 2G spectrum, a move that has resulted in uncertainty in the fast-growing telecom sector.
"Potential job loss is quite enormous as the telecom industry was supposed to have provided thousands of jobs which would have done well for the economy," Vaidyanathan said.
Executive search firm GlobalHunt's Director Sunil Goel said that there could be potential job losses by looking at local market scenario for the telecom space.
However, hospitality, FMCG, financial services and banking "would be resource grabbing industries for ideal surplus resources from sales and marketing, customer service areas," Goel added.
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