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Job market improves but salaries to hike moderately

By Swati Deshpande,

Added 18 April 2016

As per TeamLease Jobs & Salaries Primer Report–2016-17, with the job market showing signs of maturity, industries are getting smarter at rewarding. The report suggests that unlike last year, double digit salary growth will not be universal. Only 42 percent of the profiles will witness a significant increment in the pay package this fiscal.

Moreover, as per the report, the salary gap between temp and perm is virtually absent in the industrial manufacturing and allied sector. The study also states that blue collar profiles will garner lofty salary increments. Additionally, the highlights that transformative skills (decision making, strategy and planning and business transactional skills (repeat sales, relationship building) will be highly valued skills at a workplace.

Commenting on the report, Rituparna Chakraborty, Senior Vice President TeamLease Services said, "The current stagnancy in salary growth is more of a course correction. The renewed focus on talent acquisition coupled with improvement in business scenario, will bring back the buoyancy in reward and compensation structure."