With year 2010, speculations are high that the recession era will come to an end. Things will again be back on track and development will again set its sail. Infosys gave single digit appraisal in the month of October last year with next round of appraisal set for April 2010. Wipro just now announced a 10%-12% hike in salary w.e.f. 1st February, 2010.
Such a hike comes after a long dark tunnel — of 12 to 18 months — when employees went through a difficult period of layoffs, uncertainty, additional work loads, and salary freeze. All these positive vibes are sure to create a stable environment and will heal the wounded personnel.
So now I’m also hoping to get good news from my company soon. Although it seems highly unlikely, given that I still don’t know the entire component of my CTC. But things are bound to change and I’m hoping they will change for good this time.
Among the worst hit was the IT industry and as a part of it, I also felt the heat burning my skin at times. But somehow I survived. And with the end of 2009, good news of bonuses and appraisal has been doing rounds in the industry.
While the jobs were cut, salary freeze, the inflation was set to soaring high, prices of commodities increased. But the interesting pattern that I analyzed was that the spending and purchasing power of Indians was not affected. Either, most of the class was immune against the recession bomb or they just had to maintain their living standards at any cost.
Whatever be the reason, the Indian service sector may have a little burden removed from their shoulders. Its time to exuberate and the hikes are promising enough to help you rejoice.