Are You Happy With Your Raise?
Appraisal time has come and gone. We take a quick look at whether increments have matched up to expectations
Back in April, we asked people across five key sectors what kind of increments they were expecting. So, this issue, we went back to them and asked them how close their guesses were. Apparently, the recession is over. Because for most, it was a good appraisal.
“There is some contentment in the infrastructure sector as the hikes have been given,” says a Delhi-based consultant.
IT companies aren’t happy. Attrition rates, which were as low as 1 percent during gloom times, are up to a ‘healthier’ 7 percent. With poaching going up, employers had to raise increments; from around 8 percent last year to 10-15 percent this year.
Telecom folks guessed about right. Manufacturing got more than they expected. But our friends in Hospitality weren’t that pleased. They were expecting 25 percent more; they got raises around 15-20 percent. Tip generously, dear reader.
(Research: Nilofer D’Souza, Prince Mathews Thomas, K.P. Narayana Kumar)
(This story appears in the 16 July, 2010 issue of Forbes India. To visit our Archives, click here.)
