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Days of huge wage increases are over!!

Created by : Indu Thakkar, HR Manager, ONGC  | 03 04 2011 10:24:40 +0000
Industry : Human Resources (HR) ConsultingFunctional Area : Organizational Development(People Management)
Keywords : companies salary competition wages
Activity:  437 views;  last activity : 03 11 2011 08:46:19 +0000

http://consultingnetwork.co.in/wp-content/uploads/2009/03/salary.jpg

We hear this again and agian and we will hear this till long.. The world is full of competition.. People are struggling to get jobs and well those who have one are struggling to keep one.. The cost of living is taking a flight and there is no help from budget to control the plight.. This is the dark side of the work-life .. Am I missing the bright side?? Am I right in saying that days of huge wage increases are over??

  
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I think so.. with all the dark side I have mentioned I don't find a solution to how to change /improve things.. Nor do I see any silver lining on this dark cloud... :(
By Indu Thakkar, HR Manager, ONGC  03 04 2011 10:24:40 +0000
 
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To some extent the current phase implies the same. Compensation are not increasing in the same pace as the growing expenses. To survive, to earn our livelihood we are struggling more......... generation by generation, and to manage the current requirements and expenses shortage of money is of sure or other way one should sacrifice some of our demands.
By Neha Maheshwari, Personal Assistant, Media Lab Asia  | 03 11 2011 08:46:19 +0000
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Yes I m agree with you. Financial crises for companies and working people. not for politicians and govt. because of Politicians have black money and govt. has been corrupted They are enjoying with our money which we have paying thru direct tax like income tax and in-direct tax like petrol&oil tax per liter 25/- etc.. Our salary increase based on our working hours and performance of employee, company profit. But govt employees got 100 hike salaries while elections time and mean while they can get bonus other extra benefits. politician they can increase their salaries because of that time all political parties have come together. They (politicians) enjoying all facilities like housing, current,phone bill, income-tax, life time pension every thing free ?. Shall we get any of benefit without work. Our total earning money going to daily expenses . Days are moving hardly. if u r talented person also in life one day u may feel the situation like this. Companies are not ready to spend more expenses on us if they can do also. Politician are preparing policies their favourable only not for new companies and for the people. Pls tel me is there any wrong word used by me. why i told a big story means single person can think about this i will feel really happy a common Indian man.
By mouleswara rao, Sr. HR Executive (Generalist Role), Speck Systems Limited  | 03 05 2011 10:22:34 +0000
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I don't think so..... because after the union budget even though the MAT was increased, the growth opportunity for the industrial sector is huge and enormous. Therefore, it entirely depends on a persons skill and talent to get a top perk......
By MOHAN RAJ, MBA/PGDM student, Kongu Engineering College, Erode  | 03 05 2011 08:16:37 +0000
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yes,although it will be available for extra ordinary talent, or in Niche skill set, Its not available like 2003-7. current and future market til 2018, will no give a choice to co's either due to all focus on save on bottom line and increase the margins, dont spend a penny for lavishness and show world
By Abhishek Gupta, Director , Skills Factory  | 03 05 2011 06:04:38 +0000
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Yes as the economic is more or less at a stable growth rate there can not be huge increase in wages.
By Shashi Kumar U, Manager accounts & commercial, Mazda Concrete Products Pvt Ltd  | 03 05 2011 05:08:13 +0000
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Yes Indu i am agree with you on this before october 2008 or can say till october 2008 i have seen very good sign in salary hike but after great financial clashes every thing got changed i don think those day will be back soon.
By Vinod Kumar Singh, MIS Executive, Varun Beverages Limited  | 03 04 2011 10:43:04 +0000
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Dear, Indu mam, As per my opinion i will say No. I have no objection that today competitions are increasing more and more but if u have something new to do which other can not do effectively then you will go higher n higher. Nobody will can stop you. today all are following demand and supply rule. Today so many demands are available and if you are ready and can give supply as er demand then you will get huge and huge wages.
By Chetan Pancholi, Project Engineer, Tamboli Castings limited  | 03 06 2011 06:14:16 +0000
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i mistakenly given "YES", i would prefer "NO". I don't think so..... because after the union budget even though the MAT was increased, the growth opportunity for the industrial sector is huge and enormous. Therefore, it entirely depends on a persons skill and talent to get a top perk......
By MOHAN RAJ, MBA/PGDM student, Kongu Engineering College, Erode  | 03 05 2011 08:19:36 +0000
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Supply & demand are cyclic. Whats in over supply now will change to demand at some point.Unless of course your selling typewriter ribbons ?
By Paul Mycroft, Freelancer, Textile  | 03 05 2011 00:36:51 +0000
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I slightly disagree, it's not a matter of wages, ultimately it's we are here to sell ours skill, value , ideas many more, market is always evergreen, depends upon us, what we are selling.
By dhiraj , MBA/PGDM student, I-Business Institute  | 03 04 2011 15:24:09 +0000
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I would beg to differ on your viewpoint. Apart from being an optimist I know that some people are just irreplaceable. I used to be one until i decided to get some freedom. There is just the silver lining as far as huge wage increases are concerned.
By Dhiren Talpade, Freelancer, Teaching/Education  | 03 04 2011 10:47:13 +0000
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