44 percent companies plan to increase hiring

Financial Chronicle 26/02/2009

Research from global consultancy firm Grant Thornton International Business Report reveals that 44 per cent businesses in India expect an increase in employment opportunities in the ensuing 12 months and on an average, 60% of businesses in India are likely to increase salaries, mainly in line with inflation. “Perhaps more worrying for employees is that a significant number of privately held businesses (60 per cent) in India intend to increase salaries of their staff only in line with inflation. With the current low inflation rates, this will translate into relatively modest increases in salary levels and this does not offer much comfort to employees who are already struggling in the downturn,” Grant Thornton India National Markets Leader Monish Chatrath said.