Hi, I am working as an HR in a software development firm(startup) and trying to understand the Industry benchmark for the annual salary hikes i.e low range to high range. Can anyone help me in this.
From India, Hyderabad
1From India, Hyderabad
Hi Ria Dixit,
I don't think so there is a standard benchmark for hike. It is based on various factors
1. Company profit.
2. Inflation
3. Individual employees contribution
So on. The minimum hike can be to meet the employees standard of living against the inflation.
From India, New Delhi
I don't think so there is a standard benchmark for hike. It is based on various factors
1. Company profit.
2. Inflation
3. Individual employees contribution
So on. The minimum hike can be to meet the employees standard of living against the inflation.
From India, New Delhi
Dear Ria,
I echo Vivek. Please decide as per your budget. As you have already mentioned that your firm is a startup. It would be best if you don't try to compete in terms of pay.
Still if you really wish to, please buy a salary report from Kelly Services or any other top HR consultancies. That would give you quantified data that you can refer, rather than collecting it randomly.
Any job site can share the pay for similar jobs that you are hiring for. You hiring consultants can easily share what your competitors are paying, but then that is not a very trusted source.
Identify how do you look forward to enrich each role as you revise the salaries. Assuming that you have strong measures in place, can you consider pay-for-performance strictly along with the basic and other components?
Looking forward to hear from you.
From India, Mumbai
I echo Vivek. Please decide as per your budget. As you have already mentioned that your firm is a startup. It would be best if you don't try to compete in terms of pay.
Still if you really wish to, please buy a salary report from Kelly Services or any other top HR consultancies. That would give you quantified data that you can refer, rather than collecting it randomly.
Any job site can share the pay for similar jobs that you are hiring for. You hiring consultants can easily share what your competitors are paying, but then that is not a very trusted source.
Identify how do you look forward to enrich each role as you revise the salaries. Assuming that you have strong measures in place, can you consider pay-for-performance strictly along with the basic and other components?
Looking forward to hear from you.
From India, Mumbai
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