Indian heads of organizations are expected to get the best salary hikes of 8.3%, much better than most of their Asian counterparts. While India leads the pack as far as the average base pay increase goes, China stands second at a projected 6.5%, according to global HR consulting firm Mercer's 2011-12 Asia Executive Remuneration Survey-India Report. In 2011, India saw an actual increase of 8.4% in average base pay for heads of organizations.
The findings from Mercer's study said that 83% respondents rated retention of executive talent and succession planning for executives as top talent issues for most Indian companies. This was followed by leadership development for executives, which was pointed out by 68% respondents. Shanthi Naresh, principal, Human Capital, Mercer, said, "Growth, leadership shortage and high inflation have boosted India's executive pay in the past years. There exists an evident need for companies to explore innovative ways to manage and reward executive talent. Increasingly, companies are opting for more flexible pay structures which can be adjusted based on business performance."
Fixed pay is still considered the most important and effective pay component in India and constitutes 58% of total remuneration for the head of an organization, according to the survey.
No comments:
Post a Comment