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After the turbulent years of 2008 and the next, many employees complained of not receiving salary increments due to the tough conditions in the domestic and international job market. Then, came the years of marginal pay hikes, when, employees were happy to get even a 3 to 5 per cent increment on their basic pay. Performance related increments and bonuses became the norm as bosses drilled the common knowledge that employees should consider themselves fortunate enough to have a job rather than harp on an annual increment a sentence that became the favourite line of the management. Even though the real estate market is going great and banks are once again trying to out-lend one another with promotions reminiscent of the boom years, a double-digit pay hike across the board should not be expected anytime soon, as was the case before 2008. These two sectors were blamed for bringing down the job market single-handedly but they are not pushing up the job market as some had expected. So being realistic, staffers may get increments of 5-6 per cent this year, as consultancy firm Mercer predicted in its latest total remuneration survey, which was released earlier this year. Industry watchers point out that while the so-called nominal pay hikes (as stated by Mercer) is becoming the norm now, it does not hint that everybody is under the radar of this pay hike. So, who exactly or which kinds of employees are in line for an increment this year? In simple words employees working with companies reporting profits or in sectors that are growing faster than the others will get more into their bank account at the end of the month. But that doesnt mean one should lose heart. You may not be in the most booming sectors but if you have the qualities listed below, you will be in line for an increment as others who fail on these counts are likely to be sidelined. There is no magic pill to get an increment in your company since it depends on your industry, the financial health of your company and your performance. Assuming all these are in your favour, then there are certain types of employees who are likely to be considered for an increment or possibly a bonus, Ash Athawale, Recruitment Manager at Reed Specialist Recruitment, told Emirates 24|7.
not always forthcoming, the next measurable criteria that management looks at is KPIs. Is the individual at least doing the right things to lead to a good result? Such employees are appreciated with increments as well. Have you improved the process or made changes in the methodology that has increased profits or reduced costs? If yes, the management will take note of such things and might reward you with increments and promotions, elaborates Athawale.
manager is always going to prefer the employee who wants to work and comes into the office with an air of energy and enthusiasm, says Gentles.