Moderate pay raises in appraisal cycle this year: Survey
Posted on: 02:10 PM IST Apr 17, 2013
New Delhi: Senior professionals are likely to get increments in the range of 6 and 15 per cent in the annual appraisal cycle this year, says a survey by premier job search and career portal HeadHonchos.com. According to a snap poll conducted by HeadHonchos.com, professionals are forecasting moderate pay raises during the annual appraisal cycle this year, with 46 per cent of respondents expecting increments to range between 6 per cent and 15 per cent.
Just 19 per cent of the respondents said they expect salary increments of over 15 per cent this year, while a significant 36 per cent believe that they will not receive increments at all or that salary increases will be less than 5 per cent in their organisations. "Appraisals are a highly anticipated event amongst professionals. While as a rule those who deserve good salary hikes will get them, employers have adapted to the changing business environment," HeadHonchos.com CEO Uday Sodhi said.
Sodhi further added that the "focus for most employers continues to be on performance-linked reward and recognition systems, often through compensation packages that have a high variable component." This year's pay raises is in tandem with the trends in recent years that have seen increments in the 11-13 per cent band, as well as the growing importance of variable pay and performance-linked bonuses.
While high performers continue to be valued, organisations have balanced the need to incentivise employees with growing pragmatism, HeadHonchos.com said. The rightsizing of expectations by management professionals clearly reflects a sense of realism as they adapt to the post-2008 years, it added.