Salary increases across industries in Bangladesh signal positive outlook amidst diversification efforts
DHAKA, Jan. 7 (NsNewsWire) — The Mercer’s 2018 Bangladesh Total Remuneration Survey (TRS) was conducted across industries, which had a participation of 90+ organisations from industries like consumer goods, life sciences, chemical manufacturing, hi-tech sector, retail and wholesale & banking/financial services. Furthermore, while forecasts vary widely across specific industries, organisations have noticed a spike in hiring for skills in sales, engineering & science
Shanthi Naresh, Leader – Career, and Regional Practice Leader, Workforce Rewards – AMEA at Mercer said, “A strong and consistent GDP growth of 7% per year over the last three years has led to expanded employment opportunities and consequently competition for talent, which has further led to double digit increments, a positive hiring outlook and the need to manage increasing levels of attrition.”
The overall hiring outlook in Bangladesh is positive with close to 38% of companies looking to increase their headcount. Consumer goods and life sciences are the top two industries in the attrition list because of the nature of the business with 18% and 14% respectively, while retail and wholesale sector gave the lowest salary hike at 9% in 2018.
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. Marsh & McLennan Companies is also the parent company of Marsh,which advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions; Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; and Oliver Wyman, which serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit www.mercer.co.in. Follow Mercer on Twitter @mercerinindia