India continues to remain cautiously optimistic on business performance as far as the business outlook is concerned. The graying of salary increases in India is a reflection on how India Inc. is coming of age. The macro question remains: if this represents a blip or a trend! These are among the findings of the 21st Annual India Salary Increase Survey by AON Hewitt.
The survey projects a drop in pay increases to an average of 9.5 percent across industries. While the inequity of pay remains a concern, the key reasons cited by the various employees across 1,000+ firms for voluntary attrition are role stagnation and limited growth opportunities.
For almost a decade, manufacturing firms in India are budgeting higher salary Increases than services firms. A lower base and higher expectations has driven this behavior. Although, with increasing pressures on margins and improved salary base, the difference in the budgets has been gradually declining since 2013. Along with high performance – high potential and hot skills remuneration are now gaining acceptance.
The gradual slowing of pay increases and higher emphasis on productivity and performance indicates the ‘graying’ of salary budgets for India. Some industries are impacted more than others – and AON Hewitt sees faster moderation of pay increases in industries such as technology, telecom, consumer etc.
Inspite of lower salary increase budgets, top performers will continue to get lucrative hikes as companies focus on performance and criticality. While attrition was contained at a broader level, key talent attrition takes a hit. Differentiated people and pay practices slowly taking the edge away from compensation for Key Talent Management.
Projections for 2017 include salary increase projections across consumer Internet companies, life sciences, professional services, chemicals, entertainment media, automotive/vehicle manufacturing, and consumer products.
The study, the largest and the most comprehensive of its kind in India, analysed data across 1,000+ companies.
Anandorup Ghose, partner at Aon Hewitt India, said: “Political changes and economic headwinds have had an impact on business performance. However, the trend this year reflects a gradual slowing of pay increases and higher emphasis on productivity and performance – quite literally a ‘graying’ of salary budgets for India.
“The last year has shown organizations take a strong view towards performance differentiation and not only have bell curves become sharper, the pay differentiation between top and average performers has also increased.”
The Confederation of All India Traders (CAIT) and MasterCard have announced a 90-day ‘Digital Apnao Vyapar Bhadao’ campaign to accelerate the adoption of digital payments among traders in India.
In this campaign, CAIT and MasterCard will organize 500 camps across 50 cities in India over the next 90 days. It aims to on-board 5 lakh merchants and traders by bringing together financial institutions and other payments facilitators under one roof.
The camps will follow a three-step process of completing KYC documents, opening merchant accounts and helping them adopt the right digital payments solutions for their businesses.
Ravi Aurora, senior VP, Global Policy Affairs and Community Relations, MasterCard, said that the stress is on trade, As of now, around 10,000+ merchants have been asking for PoS devices daily. There is a need for more incentives across SMEs and consumers, so that they do not go back to cash-based commerce.
This step is in line with the Indian government’s multiple objectives of combating tax evasion, drive electronification, and prevent circulation of counterfeit currency. As of now, India has 1.5 million PoS locations and 0.2 million ATM locations. MasterCard is committed to a ‘less-cash society.’
Praveen Khandelwal, secretary general, CAIT, said that digital payments are very important for traders. It is also a pre-condition to embrace GST. He added that the first camp will be held today, Feb. 7, in Nagpur, followed by other cities, including, the metros.
Friends, I just learnt that Pradeep’s Point has been selected as the Top Blog for Design and Verification by Bucharest, Romania-based firm AMIQ Consulting. Once again, I am extremely grateful to all of you for helping me achieve this awesome distinction!
This recognition is now my 20th overall, and 16th, including one national recognition, for all of my blogs. That 19 such recognitions are from the overseas, is probably evident of the fact that electronics and semiconductors are well read, followed and even written overseas.
Am I wrong? I sincerely hope not, as there is a lot of work being done in electronics and semiconductors within India. The one thing missing from all of this is the presence of leading Indian firms — origin or based — in electronics and semiconductors. I hope that changes in future. And, till that happens, all of those studies depicting India as an electronics hub, are wasted.
As for the blog awards, I’ve mentioned that it’s my 16th recognition, including one national recognition, for all of my blogs. I have now completed a decade of writing (or blogging), and that’s a great result, won’t you all agree? 🙂 I didn’t even know that the blogs will help me achieve so much international (and national) recognition back in 2007, when I returned to India, from Hong Kong.
I started these blogs, back in 2007, to assist my friends, Kevin Ho Fai Lau, Zoe Lam, Alfred Cheng, Yashan Jo Kuo, John Ng, Claudius Chan, Kittie Wong, Len Sangalang, and some others.
Later, Usha Prasad (who was with me till 2012), S. Uma Mahesh, S. Janakiraman, Anand Anandkumar, Jaswinder Ahuja, Montu Makadia, Veeresh Shetty, Raghu Panicker, Dr Pradip Dutta, Vivek Sharma, Vivek Saxena, Sanjeev Keskar, Sathya Prasad, Dr. Satya Gupta, Rahul Arya, Malcolm Penn, Dr Walden Rhines, Dr Aart de Geus, Shinto Joseph, as well as late Ms Tarana Uthayya, Sanjana Shetty, Varsha Poonacha, Padmini Hegde, my niece, Aanchal Ghatak, my son, Prateek Chakraborty, and several others joined the fray.
A decade of winning awards and titles has been a tremendous journey. Thank you to all of you who have made this possible! 🙂 Thanks are due to my wife, Shima Chakraborty, for putting up with me! 🙂
Canon, the world imaging leader, marked its 20th anniversary in India with a plan across its enterprise, commercial, consumer and social initiatives.
Celebrating two glorious decades in the country, Canon re-affirmed its commitment to India with the announcement of its ‘Vision 2020’, by Ms. Noriko Gunji, president and CEO, Canon Singapore and Kazutada Kobayashi, president and CEO, Canon India.
Canon India’s Vision 2020 charts its next phase of growth in India. The company in the next three years, aims to penetrate further in the country with its offerings, augment the photography culture in India and introduce technological advancements across business and consumer products.
Vision 2020 also sets a growth target of Rs. 3,500 crore for Canon India, to be achieved by consistently attaining a year on year double digit growth. The company kick-starts its year-long celebrations to commemorate the 20 years with its business partners, vendors, consumers and employees. For 2016, Canon registered a growth of 9 percent, with the revenue aggregating to Rs 2,348.6 crore.
Ms. Noriko Gunji, president and CEO, Canon Singapore, said that India had established itself as one of Canon’s key markets. “We have brand loyalty in India. India will be a major contributor in our future.”
Kazutada Kobayashi, president and CEO, Canon India, added that twenty years’ progress cannot be made without partnerships. “Our CSR will be continuous as well. We are focusing on eye care, education, environment and empowerment.”
The recently-held SAP Spotlight Tour in Surajkund, India, emphasized heavily on the consumerization of enterprise business applications.
As we all know, all enterprises have applications that they have to manage. They also have data residing on the cloud as well as in the premises. Now, the SAP digital boardroom has been changing data into insights, said N. Sekhar, VP Engineering, SAP Labs India. There was a demonstration of SAP’s innovations regarding how customers can shop.
Sonam Wangchuk, founder, Students Educational & Cultural Movement of Ladakh (SECMOL), spoke about how students in the far flung area of Ladakh are enjoying playing with the sun, earth, fire and ice.
Three years ago, SECMOL came up with the idea of the ice stupa artificial glaciers. A pilot ice stupa stores approximately 1.5 million liters of water, and is used to water about 5,000 trees.
Now, SECMOL is said to be using siphon technology at the Lhonak lake, that resultantly, also helps water overflow to some other lakes. The ice stupa technology has since gone to Switzerland, near St. Moritz.
Deb Deep Sengupta, president and MD, SAP India Subcontinent, said the organization had now completed 20 years in India. “We are digitally enabling businesses to embrace a cloud mindset,” he added. “Technology is now driving innovation, efficiency and growth.”
On day 2, there was a session titled ‘Impacting one billion lives’. Dr. Ramesh Nimmagadda, managing trustee, Ramesh Nimmagadda Cancer Foundation (RNCF) said there have been disruptions in healthcare. There is a constant growing need to collect data, and then see what best can be done using that data.
According to him, the connected healthcare was growing in importance. RNCF has developed a data collection software. The next step would involve predictive analysis. “We must go digital. There is also a need to develop simple and cheap systems.”
Rajandeep Singh, co-founder, Kivi Technologies added that writing electronic medical records (EMR) would become much easier over the next two to three years. There is also a need to develop techniques to get different data to ‘talk’ to each other. Cloud is definitely the way forward.
Right! Donald J Trump has just been acknowledged as the new president of the USA! First, a very hearty congratulations, sir!
In your speech, you spoke about bringing in new people on jobs. Well, please focus on technology as well. Perhaps, you can try to bring in whiz kids across the various industries, such as electronics, semiconductors, and so on! Please also ensure that the people that you bring in, also do their jobs well.
Why am I saying this? Perhaps, I have always felt that there has been / is / was a great need for people who focus on technology in India.
By people, I don’t mean folks with great degrees coming from great colleges! Bring in people who really understand technologies, how they work, where they can be worked, and what kinds of problems can those technologies solve.
Maybe, this is something that you would need to look at. and urgently!
Intel has begun sampling 14nm Stratix 10 FPGAs to customers. The Stratix 10 is the 14nm FPGA that was built as a result of Intel and Altera’s foundry agreement in 2013. Stratix 10 is the industry’s highest performance, highest capacity FPGA ever built.
How is the Intel 14nm FPGA superior to that of Xilinx? According to a spokesman, Stratix 10 FPGAs provides a first to node advantage for Intel, in that Stratix 10 are the first true 14nm FPGAs, delivering the performance and density advantage of a true process shrink.
How are memory and programmable solutions delivering new classes of products for the data center and the IoT ?
IoT is said to be bringing online billions of new smart and connected devices that are generating a tremendous amount of data. This data must be processed, analyzed and acted upon in real time within the cloud and data centers.
FPGAs, like Stratix 10, are built to support this demand by delivering high-performance, multi-function acceleration to the data center. Microsoft and their use of FPGAs to power Azure and to accelerate Bing are great examples of this acceleration today.
Broadcom did announce 5G a couple of years ago. Is Intel’s 5G any different?
According to Intel, FPGAs will be a key enabler in driving 5G deployments. “As we are in the early stages of 5G where standards are being finalized, the flexibility of FPGAs are invaluable to developers of wireless infrastructure, as the FPGA can be re-programmed as standards are adopted and finalized,” he added.
What is Intel doing in memory and programmable solutions that will make it different?
5G represents a significant shift for the industry, and requires an unprecedented integration of wireless connectivity, computing intelligence, and distributed cloud resources. It will fundamentally transform our lives, bringing us a society that is smarter and more connected.
To realize this potential for the IoT and enable richer experiences throughout daily life, wireless networks must transform to become more powerful, agile and intelligent. Intel is transforming the wireless networks and infrastructure to lay the path to 5G. FPGAs like Stratix 10 and memory are key enabling technologies for Intel.
If you look at some of Stratix 10’s capabilities vs. the prior generation, which companies like Microsoft are using to power its data centers, you get a clear picture of how developers of high-end networking gear, communications infrastructure and data centers will benefit from these high-performance, multi-function accelerators.
* 2X higher performance.
* 5X higher capacity.
* 8X higher TFLOPS.
* Integrated of high-bandwidth memory (HBM2).
* Integrated ARM A53 quad core processor.