Gone are the days of huge wage rise: Mohandas Pai

BANGALORE, INDIA: Though the days of recession are said to be over in India, don't expect those good old days of huge wage rise to come back, says TV Mohandas Pai, director - human resources and member of Infosys Board. The days to come are the days of reasonable hike, he feels.

“The days of huge increase are over because market has become much more competitive and unemployment is very huge in the US and Europe because of financial crisis and is not going away,” a PTI report quoted Pai as saying on the sidelines of a function in Bangalore on Thursday.

Observing that the key thing is to improve productivity, he said the key is to make sure people can produce more that can lead to higher wages rather than mechanically giving higher wages. “Wage increase is not the only way to retain people,” he added.

Pai also observed that though India is producing talent and intellectual capital that is world class, our Human Resources practices are 10-15 years behind the curve.

“There is lack of research and case studies on career development framework. There is no career architecture,” said the PTI report.

Pai said it is imperative that HRs become "employee champions" by understanding employee's need and enabling them to grow at their space and enable career development.