Good news is streaming in on the job front. Companies have announced robust hiring plans. Campus placements saw recruiters making eye-popping offers.At the Faculty of Management Studies in Delhi, the average salary offered was Rs 17 lakh a year. Amazon India offered a record annual package of Rs 51 lakh to a student of the Great Lakes Institute of Management in Chennai. That apart, surveys by several HR firms indicate that the median salary hike this year will be close to 11%. Star performers can expect even more. According to Aon Hewitt, the top performers are expected to get 1.6 times the hike given to average performers.
The trend is not confined to the IT sector. Workers in financial services and manufacturing companies are also feeling the heat. ICICI Bank and Axis Bank have weeded out underperformers. Earlier this year, Standard Chartered Bank shut down its equities business to save on costs. "Organisations are becoming bolder in removing roles or people," says Aditya Narayan Mishra, President-Staffing, Ranstad India.People are usually shocked when they are told to go. But in many cases, the writing would have been on the wall. Some of the signs of an impending job loss are subtle, while others are quite obvious. It is just that employees fail to read these indications and take corrective measures before it is too late.