TREND IN SALARY STRUCTURER.G. IyerHow to evaluate human resource and to give compensation?The salary hikes in the country
have stabilised in the range of 11.9% and 15% in 2006.According to Hewitt Associates, a global human resources services company, in a survey reveals that the salary hikes in 2007 will remain same in Asia including India. Though moderate, salary hikes will be maximum in India among the Asian countries.In 2007, according to the 7th annual Asia-Pacific Salary Increase Survey by Hewitt Associate, it would be in the range of 12.3% and 15%. Survey says, "Though the employers are reporting pay hikes, these hikes are modest when compared with the previous years. This trend looks set to continue in 2007."Head of Hewitt’s Talent and Organisation Consulting Analytics practice in Asia, Nischae Suri says, "While
organisations are increasing their spendings on compensation to counter retention challenges in Asia, many
companies are reassessing HR strategies and business goals."The sample size of the survey was 1400 companies. Hewitt study indicated that variable pay continues to be an important mean of attracting and retaining talent, as 78% of the responding organisations used them as a tool to retain talent.Individual performance award is the most popular variable pay plan as 56.2% of organisations say they prefer it more.The study says individual performance awards have the highest impact on business results, followed by business incentive plans and team awards.It adds that companies hiked variable payout in 2006 to 14.9%, up from 14.5% in 2005. Target variable payout was highest for top management at 21.8% and is expected to rise to 22.3% in 2007.Study highlights that the prime challenge faced by organisations in implementing variable pay plans is poor communication to employees.Suspect held for Ambedkar statue vandalisationPolice in Kanpur have arrested a man they suspect of vandalising the statue of B R Ambedkar.Arun Valmiki, a resident of Sarojini Nagar, has allegedly confessed to damaging the Ambedkar statue in Kakadeo area along with two associates on Tuesday.The incident sparked off a violent outburst of Dalit anger across Maharashtra on Thursday.Violent protestsVarious towns in the state, including Mumbai, had Dalit protestors taking to the streets and clashing with police.Dalit emotions, already simmering since the murder of a family in Khairlanji Bhandara, simmered over to result in a day of clashes, burning trains and broken buses.Three people died in the protests and Congress President Sonia Gandhi spoke to Chief Minister Vilasrao Deshmukh, who is rushing back from Singapore.How to determine salary? Who is the authority? When Hike should be given? Where is the salary structure high? These analysis will help to fix a good salary strucutre. Isn't it?