Increase in Salary Throughout Industries

Kelly Services Inc, a fortune 500 company, has come out with its yearly report, the Employment Outlook and Salary Guide 2011-12. As per the report, there will be a rise in salary by 10-13 per cent across industries in 2011. Th e report also mentions that companies are trying to come up with new methods to retain employees. Off ering spot bonuses as well as increased travel and fuel reimbursement are part of the lucrative off ers for retention. Sectors that have witnessed increase in salaries include banking, fi nancial services and insurance (BFSI), oil and gas, pharmaceuticals and healthcare and IT. The report mentions that there has been a phenomenal rise in lateral hiring due to the demand of niche skills. Middle-order management people too have witnessed a rise in pay packages. Raise in salary is marked to prevent the workforce from being wooed by the top companies or by other companies off ering a better and bigger pay package.

Volume 1 Issue 3