Employees in India are likely to see a double-digit salary growth in 2019, but inflation may play a dampener capping the hike at 5 per cent, a report said on Friday. According to global consulting firm Korn Ferry, as a result of rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia.
Salaries in India are expected to increase 10 per cent in 2019 as compared to 9 per cent last year and inflation-adjusted real-wage hikes are likely to rise to 5 per cent from 4.7 per cent in 2018. “Consequent to rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia,” said Navnit Singh, Chairman & Regional Managing Director, Korn Ferry India.
Singh further said companies should take a broader perspective to define their business strategy and cost drivers in view of increasing automation, use of new technology and the rising demand for skilled workers.