Av­er­age hikes at top 100 cos likely to be 8.2%: Study

The Economic Times - - Front Page - Our Bureau

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.

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