The salary increase forecast for 2016 is quite similar to the actual salary increase for 2015.

Among the industries surveyed, the projected salary increase ranges from 10-11 percent overall, with relatively higher increases for Life sciences, IT and Chemical industries.

Over the years, salary increase differentiation across industries has narrowed down but there is considerable pressure on talent retention as budgets remain tight, it added.

The survey revealed that 48 percent of these companies are expecting to increase their head count.

In 2016, one in two companies are planning to increase head count with Hi-tech, Shared Services and Life sciences leading the pack.

The comprehensive survey represents 691 organisations across various industry sectors.

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