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Fatter salaries on cards in 2011

business Updated: Dec 17, 2010 22:40 IST

PTI
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The country’s job street is all set to buzz in the New Year with Indian companies expected to accelerate hiring by as much as 20% and reward employees with a similar hike in salaries. Hiring activities gathered momentum in the second half of 2010 and companies are estimated to have created over a million jobs in the organised sector. The organised sector is estimated to have generated more than 1.1 million jobs this year, a recent survey by staffing services firm Ma Foi Randstad showed.

Led by sectors such as telecom, consumer durables and real estate, human resources (HR) experts feel that hiring is most likely to jump 20% in 2011. Pay packets are also expected to climb around 20%.“There would be at least 20% more hiring at the starting level and may be 10% more at the mid-management level compared to the second half of 2010. Almost all sectors of the Indian economy would hire (in 2011),” Asim Handa, country manager, staffing services firm Futurestep. Futurestep is part of global HR firm Korn/Ferry International. Improving economic conditions and aggressive expansion plans by companies are expected to fuel hiring activities, especially in the first half of 2010.

The average hiring increase would be “anywhere between 10% and 18% across sectors next year,” said Rituparna Chakraborty, vice-president, Recruitment firm TeamLease Services.

According to P Thiruvengadam, leader, human capital advisory services, Deloitte India, recruitment levels significantly improved in all sectors this year. Healthcare, life sciences, retail, infrastructure and manufacturing will lead the list of job creators.