Average hikes at top 100 cos likely to be 8.2%: Study
Mumbai: This appraisal season, wages across industries are likely to increase by 9.5%, signalling a drop from 10.3% last year, according to Aon Hewitt’s 21st Annual India Salary Increase Survey that covered more than 1,000 companies across the country. However, India’s biggest companies will likely increase pay at the slowest pace since the 2009 global recession.
According to exclusive data from Aon Hewitt’s Survey, the top 100 companies based on employer brand recall and size, will likely give average pay increases of 8.2%, a rate last seen in 2009. This project- ed rate compares with 9.5% last year.
With Corporate India’s compensation budgets gradually declining since 2013, the days of 11-12% pay hikes for average performers may soon become a thing of the past. Salary increments, on an average, are expected to settle in the range of 9.510% in the coming years.
“It had to happen. Companies are becoming conscious of how much they pay. With lower inflation rates in the economy, they cannot keep on paying the kind of increments they have given out in the past,” says Anandorup Ghose, partner at Aon Hewitt India.
Top performers are likely to bag 1.8X the average increments; those in large companies are likely to get 1.9X
The sanctum sanctorum will be built from age-old marble, he said.
“The stones are numbered according to the planned structure, so it won’t take any time to place them. Once the (Supreme Court) order comes, there will be a tsunami of people coming. Na labour ki zaroorat hogi, na paison ki. Jan abhiyan hoga, Hindu samaj ka (Neither labour nor money will be needed. It will be a mass campaign of Hindus),” Singh said. “If the BJP gets the majority and if the court order is favourable, it won’t take even a year for the temple to be ready and it will be the best in the world.”
Apart from two floors envisaged by the VHP, the plan for the proposed temple includes a Ved pathshala, or school for Vedas, and culture training centre. Groups of devotees arrive every other day from places as far as Nepal and Jammu & Kashmir to enquire about the temple, Singh said. A group of devotees queued up to have a look at the model of the temple kept in a glass box. They offered their prayers even as Singh urged them to focus on the red light inside the model, which is where the deity will finally reside. “Do visit the Ram Lalla temple before you leave this town, otherwise you will feel incomplete all your life. Mandir wahin banega ( That is where the temple will be built),” he said.
‘WILL TAKE EVERYONE ALONG’
VHP’s plan, however, does not have the approval of the All India Akhara Parishad, the apex organisation of Hindu sants and sadhus. Narendra Giri, who heads the organisation, said once the court order comes in favour of the temple “it will be built over time”. “The VHP has a habit of rushing into things. The temple is a matter of faith and not ego. We will work on it together, taking everyone along, but not with the mahants who believe only in taking the name of Ram for political reasons,” he said. In December 2015, the VHP and the Bajrang Dal renewed their clamour for Ram temple. In 2010, the Lucknow bench of the Allahabad High Court had pronounced its judgment in the 60year-old case, saying Hindus and Muslims are joint title-holders of the land.
“The division of land isn’t acceptable to us,” VHP’s Singh said. “When Babar wrested our temple from us, we Hindus were weak and couldn’t fight him. When the Hindus became strong, we got it back from the Muslims. It was perfectly alright.”
The Supreme Court’s verdict is awaited. However, there is no clarity on when the final judgement will be delivered.