New Delhi: Professionals in the IT industry, who got around 6-8% hike in 2018 can expect for double-digit increments in 2019 on the back of growing demand for new-age technologies like machine learning and robotics, the Economic Times reported citing industry association Nasscom and compensation experts.
“This year would see increments of 8-10% across the IT industry, but talent in niche technologies may get almost double the increments of an average performer,” the ETreport quoted Sangeeta Gupta, senior vice-president of Nasscom as saying.
Professional services firm Aon and human resources consulting firm Mercer believe that top performers and professionals with niche skills in areas such as artificial intelligence, cybersecurity and blockchain are likely to get higher increments of up to 20%.
Aon in its latest estimates for 2019 increments in June 2018, had said that average hikes for the IT sector were projected at around 9.8%. It said the data is showing a positive bias and that the final projections, which are set to come out next month, are likely to be around 10%.
Worth mentioning here is that hiring in the IT sector is also expected to see an uptick. “There was pent-up demand in 2017-18, when most companies were holding on to their hiring plans, but this year we see hiring picking up across the IT sector,” Gupta of Nasscom told ET.
Infosys, for instance, hired 55,000 people in the first nine months of this financial year, compared with 44,000 in the entire 2017-18. “As of December 2018, our total number of employees stands at 2,25,500, compared with 2,04,100 employees for fiscal ending March 2018,” the publication quoted Richard Lobo, head of human resources at Infosys as saying.
The ET report citing experts said as companies seek to retain talent, short-term incentives and higher discretionary spends are being used to reward performers and employees with new-age skills. At the same time, they said, a section of the sector which is under margin pressure is adopting a more conservative approach in pay approval for traditional skills.