India continues to enjoy the highest overall salary increases and real-wage growth in Asia, according to global consulting firm Korn Ferry, as a result of rapid economic growth.
Navnit Singh, Chairman & Regional Managing Director, Korn Ferry India said “Consequent to rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia.”
Navnit Singh, Chairman & Regional Managing Director.
Singh further said companies should take a broader perspective to define their business strategy and cost drivers in view of increasing automation, use of new technology and the rising demand for skilled workers.
“Compensation programmes need to be regularly reviewed to make sure they align with the changing business and market conditions,” he said.
Apart from India, other Asian countries that saw year-over-year increases in real wages include Vietnam (forecast of 4.8% in 2019 Vs 4.6% last year), Singapore (forecast of 3.0% in 2019 Vs 2.3% last year), Indonesia (forecast of 3.7% in 2019 Vs 3.4% last year)
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