Comments
Most companies have hinted at hiring more people this year, according to a Mercer industry survey.
Of the 682 companies asked across sectors, 84 per cent indicated they would hire more in 2012, the All Industries Total Remuneration Survey released on Wednesday, said.
The insurance, chemical and manufacturing sectors are expected to hire the maximum number of people. All the respondents asked forecast headcount addition in the next 12 months.
“Hiring continues unabated in Asia, with India and China leading the pack,” Mr Muninder Anand, Director, Information Product Solutions, Mercer, said.
The hi-tech industry too was gung-ho about hiring; 86 per cent of the respondents saying there would be increased headcount. Nearly 75 per cent of those surveyed said the same about the retail, electronic manufacturing and banking and finance sectors.
INCREMENT FORECAST
The highest increments — at 14.3 per cent — are expected in the automobile sector, the survey revealed. It expects an average 12 per cent salary hike across industries, the same as last year's .
Increments in the pharmaceutical and medical equipment sectors are projected at 12.8 per cent; chemicals at 12.2 per cent, consumer durables at 12 per cent, IT and telecom at 12 per cent and ITeS at 11.3 per cent.
Employees in the insurance sector, however, may get a relatively lower salary increase, at 11 per cent.
The remuneration for executives in the asset management industry will be higher in 2012 than for those in the consumer, pharmaceutical, chemical and automobile sectors.
ATTRITION RATES
The survey said attrition rates rose across sectors to 16.7 per cent in 2010. The highest turnover was seen in the ITeS segment, at 32 per cent, followed by 16.3 per cent in IT and 15.9 per cent in pharmaceuticals. The lowest attrition was reported in the chemicals sector, at 9.9 per cent.
The survey is conducted twice a year, in March and October, and covers all facets of rewards and benefits in 12 different major and small industries, Mercer said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.