Pay hike in 2018: Aon India Consulting SurveyReutersSimilar to 2017, employees in India may get an average pay hike of 9.4 percent this year, according to Aon India Consulting’s Salary Increase Survey released on Tuesday.”The projections for 2018 are also expected to be similar at 9.4% highlighting increasing prudence and maturity being displayed by companies while finalizing pay budgets,” Aon India Consulting said.Aon India Consulting analyzed data across 1,000 companies from more than 20 industries for its 22nd edition of annual Salary Increase Survey in India.The survey found that priority on performance is increasing year-on-year. The lead performer is getting an average salary rise of 15.4 percent, around 1.9 times pay hike for an average performer.”Given the broad economic context in the country, business performance expectations for FY 18-19 and the trend in #attrition, pay average increases in India will remain between 9.4% – 9.6%.” – Anandorup Ghose #AonRewardsIndia— Aon India Consulting (@Aon_India) 27 February 2018″Despite an improvement in macro-economic forecasts – salary increases remain at the same level as was projected in the last fiscal. With increasing maturity, HR budgets are being realigned towards top performers as opposed to the broader population,” said Anandorup Ghose, Partner at Aon India Consulting.Zones such as life sciences, automotive and consumer products, professional services, and consumer internet companies continue to estimate a two-digit pay hike for 2018.Engineering and manufacturing industry and metal industry projected 9.2 percent salary increase for 2018. Pay hike of 9.1 percent is estimated for telecommunication services and entertainment/publication and communication sector.While professional services sector topped in projected salary with an average 10.6 percent increase, the projected salary increase of cement industry is lowest among all.The survey forecast an emerging focus on budget rationalization with increasing adaptation of base effect. For example, pay increases for the top and senior management are consistently going down.Pay increases are becoming more nuanced, said Anandorup Ghose. “We are increasingly seeing a multitude of factors impacting salary increases such as the size of the company, business dynamics within the sub-industry, nature of talent requirements and quite obviously, performance,” he added.
Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Entrepreneurs have abundant energy, drive, ambition, ideas and sweat. What they lack is time. That’s why they only have time for the advice they want.At the recent Accelerate Your Business event Entrepreneur held in partnership with Microsoft in Denver, it became clear that their interests rest under just a handful of key pillars.InspirationIt’s not easy being an entrepreneur. Normal people take a job, work and collect a paycheck. Entrepreneurs work under different priorities. They have an idea, a solution to a problem, and they work tirelessly to build products and services — all without the safety net of a sure paycheck and benefits. It can be heroic work, and it has a nine-in-10 chance of abject failure.What keeps them going? The inspiration of others. Hearing that someone as successful as Alexis Ohanian could have started his professional life with so much rejection helps entrepreneurs recognize that they’re not alone in the world and that their own setbacks don’t mean that their business is doomed.Sales and customer service.Your idea doesn’t turn into a business until you get your first customer. Plenty of people have good ideas. Fewer people act on them, and even fewer actually find a market for them. Getting advice on how to land that first sale, and, more importantly, how to convert that into repeat business, is some of the most sought-after guidance for entrepreneurs.Take building customer loyalty, an area of expertise of Carol Roth, the business expert and host of the TBS business show America’s Greatest Makers. Roth told the Accelerate event crowd that entrepreneurs need to develop long-term, loyal customers. In an approach she calls “Customer Loyalty 3.0,” she said the goal is to get raving fans to tell other customers about your brand or company. When you factor in the expense of trying to reach new customers and the high lifetime value of each individual customer, loyalty needs to be a top priority for every business.Data management and security.Every company nowadays, no matter what they do, says they are a “data” company. Yes, that’s a marketing hook, but it has a grain of truth in it. Every transaction, every interaction is recorded and stored. So every company collects and can use data. Here’s the good news: It’s easier than ever to use data to improve both your business and your customer experiences. Gene Marks, president of The Marks Group, which sells sales and marketing software, says the bad news is that bad actors get more sophisticated every day at trying to steal that data — and your business is liable. That’s made security a big concern for companies of all sizes. Watch Now: Run a Better Business Using Data Webinar with Gene MarksOn the bright side, it’s never been easier to store and secure that data. Jordan Chrysafidis, vice president of U.S. OEM at Microsoft, told the crowd that new cloud services really allow for a better mobile experience for business owners. As mobile becomes less about devices and more about the overall tech experience, having secure and easy-to-use cloud services becomes more important, Chrysafidis said.Gadgets.The devices we use to do business each day are increasing in capability as they decrease in size and weight. Kirk Godkin, a device evangelist for HP, often holds up a small phone and announces that this is the PC of today. Much of device development is designed for mobility, which shouldn’t come as a surprise since the workforce today are becoming increasingly mobile and virtual.Most entrepreneurs can’t get enough of new devices. The smaller, the better, provided they can also increase productivity.Behavior.Entrepreneurs, more than other groups of business leaders, are fascinated by what makes people tick. That desire is two-fold: First, understanding what drives customer decisions helps plot a sales strategy. In this regard, there are some ways in which our minds work in predictable ways, says Jon Levy, an expert in behavior and adventure, who also spoke at the Accelerate Your Business event. In fact, you can actually change people’s decisions simply through suggestion. “But with that great power comes great responsibility,” he said. It’s a dangerous line to cross to influence someone as opposed to manipulating them, he said.As for personal behavior, entrepreneurs devour any advice on how to personally find an edge. Whether it’s how often to sleep or how much exercise to get or even what habits to follow, entrepreneurs want any advice and guidance they can get to make them work more efficiently, think better and live smarter.Networking.Entrepreneurs want to connect, with customers, with vendors and with each other. For the first time, at the end of the recent Accelerate Your Business event, we held a Networking in Minutes event, where attendees were able to spend a few minutes with each other and presenters from the conference. Think of it as speed-dating meets networking.The feedback? There was a value in being able to interact with one another.To learn more about Entrepreneur’s upcoming events, visit https://www.entrepreneur.com/events. Register Now »