China will continue to be at number three position in the average salary hike, ranging between 7.1% and 8.5% in 2007 as against 7.5% and 8.4% in 2006. Other countries in the region have also shown a marginal increase in the salary. 

Head of Hewitt’s Talent and Organisation Consulting Analytics practice in Asia, Nischae Suri says, "While organisations are increasing their spendings on compensation to counter retention challenges in Asia, many companies are reassessing HR strategies and business goals." 

The sample size of the survey was 1400 companies. Hewitt study indicated that variable pay continues to be an important mean of attracting and retaining talent, as 78% of the responding organisations used them as a tool to retain talent. 

Individual performance award is the most popular variable pay plan as 56.2% of organisations say they prefer it more. 

The study says individual performance awards have the highest impact on business results, followed by business incentive plans and team awards. 

It adds that companies hiked variable payout in 2006 to 14.9%, up from 14.5% in 2005. Target variable payout was highest for top management at 21.8% and is expected to rise to 22.3% in 2007. 

Study highlights that the prime challenge faced by organisations in implementing variable pay plans is poor communication to employees.
 
 

What is your salary per minute ?

Sachin Tendulkar  What: Cricketer How much: Rs 1,163 per minute  India's most loved sportsman makes a lot more than most CEOs of Indian  companies; going by his annual remuneration for 2004-2005. Breaking it  down, his three-year contract for endorsements is worth Rs 180 crores. He  is also paid Rs 2,35,000 for a five-day test match and Rs 2,50,000 for one  dayers. A little bit of elementary math: This highest paid cricketer in the world  makes around Rs 61.15 crore a year, or Rs 1,163 per minute

Mukesh Ambani  What: CMD of Reliance Industries Ltd How much: Rs 413 per minute Head honcho of the $16.5 billion Reliance Industries Limited, Mukesh Ambani  was ranked the world's 56th richest man in Forbe's list. But since this is  only about salaries (and the like), we'll completely ignore his other  earnings. Last year, Mr Ambani earned Rs 21.72 crore; a neat growth of 87  per cent over his previous year's earnings. He makes not less than Rs 413  per minute

Amitabh Bachchan What: Actor How much: Rs 361 per minute  Kaun Banega Crorepati? Apparently, Mr Bachchan! With more endorsements and  film releases per year than successful actors half his age, Bachchan's  take-home last year was around Rs 19 crore - that's Rs 361 per minute.

Shah Rukh Khan What: Actor How much: Rs 247 per minute The King Khan, who started off modestly as a 'Fauji', made about Rs 13  crore last year. This included his endorsement deals for Pepsi, Hyundai  Santro - and of course, wetting himself in a bathtub, surrounded by women for HLL's Lux. How much per minute?

Brij Mohan Lall Munjal What: Chief of Hero Group How much: Rs 255 per minute The patriarch of the Hero Group received the Life-time achievement award  for 'Excellence in Corporate Governance' by the Institute of Company  Secretary of India this year. Brij Mohan Lall Munjal earned about Rs 13.4  crore last year. He continues to be the world's largest motorcycle manufacturer and  fuels his bank balance with Rs 255 per minute.

Dr A P J ABDUL Kalam What: President of India How much: Rs 1.14 per minute  Before taking on the reins of this country, Dr A P J Kalam played a leading  role in the development of India 's missile and nuclear weapons programmes -  so much so - that he's fondly referred to as the 'Missile Man'. In the early 1990s, he served as scientific adviser to the government, and his prominent  role in India 's 1998 nuclear weapons tests established Kalam as a national  hero. For all his work in his present capacity as President of the world's  largest de mocracy, Kalam draws an annual remuneration of Rs 6,00,000 or Rs  1.14 per minute.

Dr Manmohan Singh What: Prime Minister of India How much: Rs 0.57 per m inute  An economist by profession, Dr Singh has formerly served in the  International Monetary Fund. His economics education included an  undergraduate and a master's degree from Punjab University ; an undergraduate degree from Cambridge ; and a doctorate from Oxford University .. One of the  most educated Indian prime ministers in history, Singh also served as the  finance minister under prime minister Narasimha Rao. In his present capacity, Singh is paid Rs 3,60,000 annually, i.e. Rs 0.57 per minute.

Indra Nooyi What: New Pepsi Chief How much: Rs 2,911 per minute (from October 11) Chennai-born 50-year-old Indra Nooyi was the Chief Financial Officer (CFO)  of PepsiCo, the US-based soft drink major. In that capacity, her  remuneration stood at $5 million (over Rs 23 crore). With her promotion this year, Nooyi becomes one of the highest paid CEOs in the world, with an  announced remuneration of $33 million (approximately Rs 153 crores). This  means Nooyi makes a whopping Rs 2,911 per minute. *All figures based on media reports

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