With increased pay packets there is also possibility of attrition rates going up, the company said. (Agencies)
As per the firm's 'Work monitor' survey, 84 percent of the employees are hopeful about the economic situation in 2014 while another 86 percent are expecting a higher pay raise in comparison to previous years.
The survey has found that majority of employees in India expect to receive a one-time financial reward bonus at the end of this year. This is higher than their global peers.
"With the sentiments of the market looking positive, it is anticipated that employees will expect a better hike in their salary than compared to the last couple of years," Randstad India & Sri Lanka CEO Moorthy K Uppaluri said.
According to Uppaluri expectation of pay hike have an impact on attrition rate and therefore the firms "must start focusing on building strong HR practices" that will address the issue related to salaries while also ensuring necessary training programmers and "great" career opportunities.
"By Income, only 70 percent of the employees earning less than Rs 90,000 expect a pay rise and employees in middle and higher level income range are more optimistic about pay hike," the survey said.
Moreover, the survey also found that over 80 percent believed that working together with foreign employee’s added value to their jobs.
Besides, working with foreign employees was looked on as value addition by 74 percent women compared to 52 percent of the male employees.
Meanwhile, an over whelming majority (more than 90 percent) of the Indian employees were also found to be committed to developing their skills last year and 80 percent said their employers played a important role in this regard.
The Randstad Work monitor survey is conducted through an online questionnaire among a population aged 18-65 years and employed in a minimum 24 hours a week job.
With increased pay packets there is also possibility of attrition rates going up, the company said.