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Economic Lagging to Reduce Salary Increase

By Anand Soni Subscribe to RSS | December 9th 2011 | Views:

It has been observed last few years about the economic uncertainty in Western economies which is now leading leading to lower tech spend and fewer or smaller projects may push India's technology services firms. This will affect to have hire less or salary reducing in most of the well known companies. As it was seen a fatal downturn in the last few years regarding salary cut and lay-off maximum jobs in the IT sectors in India and this may affect soon again. However, it can be said good news for SEO services company to have their stern backbone to this situation as SEO activities may increase at par now to build the gap of economic downturn. SEO services company should now make up a better line up and working strategy to hold up certain business development in this concern.

An HCL spokesperson said with regard to this, “HCL Technologies, India's fifth-largest software exporter, and the attrition rates will decline in the coming year. The company's hiring strategy has so far been based on project needs and will maintain the ratio 50:50 of freshers and laterals.”

Mr. Srinivas Kandula, global head of human resources at iGate Corporation said with regard to this, "Tier 1 and Tier 2 companies hired in large numbers in 2011. Hence there is sufficient resource in most companies. This could result in a slowdown in hiring. We expect lateral hiring too to be moderate in 2012 and this might result in unemployment among the middle level staff. Attrition rates will decline in the coming year as the number of opportunities fall. iGate expects it to be anywhere between 16 and 20% in 2012, compared to 21% in 2011.”

Mr. Babuji Abraham, global head of people function at MindTree said with regard to economic slowdown, "While there is no negativity within the IT industry, macroeconomic pressure from the Eurozone and North America and inflationary trends in India could play crucial role in deciding next year's salary hikes and hiring statistics. Companies are cautious about the future. This year's Christmas sales in the US might give us a better picture about the coming year; it is going to reflect the consumer confidence in North America."

Mr. Ajith Issac, MD and CEO of Ikya HR solutions, said with regard to this, "Salary hikes could be conservative in the coming year. People have accepted that uncertainties from the Europe will continue for a while. Although the domestic demand in India is high, inflationary pressures could have an impact on business decisions."

Anand Soni - About Author:
The writer has been writing online blogs and articles from many years with a focus of research topics. He always wants to write some crucial factors, which is often ignored. Keeping writing as his hobby he has recently given importance in his writing about SEO services company.

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