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Latest insights on Human Resource and Workforce related topics in India and articles from HR thought leaders at Aon.

Financial institutions: Silver lining after the storm

23 Apr 2019 by  Roopank Chaudhary & Ritika Shah

The year seems to be fairly upbeat for the sector, if increment projections are anything to go by.

The Indian financial institutions (FI) sector has had a bit of a mixed bag in the last few years but the last few months have been reasonably rough. With the stage being set for a plethora of regulations to mitigate the crises affecting the sector, ongoing open dialogue around governance and consolidation, 2019 seems to be fairly upbeat if increment projections are anything to go by.

The overall FI increment in 2018 averaged at 9% with 2019 projections on a marginal upside at 9.2%. Key talent will continue to be the focal point for awarding increments in the wake of consolidation and spiraling operating costs. This is exemplified in the overall 2019 salary projection being 15.7% versus 15.4% for key talent in 2018. The bell curve (which some years back had supposedly seen a demise) has witnessed marked talent differentiation across the two extreme spectrums of the rating scale.

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Roopank Chaudhary & Ritika Shah