A 10% Hike In Salaries Is Expected In 2019

A double-digit salary growth of the employees in India is expected in 2019. As a result of the rapid economic growth, India continues to enjoy the highest overall salary increases and real wage growth in Asia. A 10% hike is expected in 2019, with salaries in Asia forecasted to increase by 5.6 per cent. Companies would be taking a broader perspective to define their business strategy and cost drivers in the view of increasing automation, use of new technology and the rising demand for skilled workers. In order to align with the changing business and market conditions, the compensation programmes need to be regularly reviewed. As per the report, the inflation-adjusted real-wage increases are expected to be 2.6 per cent, the highest globally, but down from 2.8 per cent. Taking other Asian countries into consideration, China’s real-wage forecast for 2019 stood at 3.2 per cent, Japan at 0.1 per cent, Vietnam at 4.8 per cent and Singapore at 3 per cent and Indonesia at 3.7 per cent.

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