Salary increases across industries in Bangladesh

Salary increases across industries in Bangladesh

Salary increases across industries in Bangladesh signal positive outlook amidst diversification efforts

  • 07 JANUARY, 2019
  • India, Dhaka
  • In 2019, Bangladesh to see a 10% increase in salaries across industries and levels
  • 38% of organisations in Bangladesh intend to increase their headcount in 2019
  • Consumer goods industry reported the highest salary increase at 10.6% p.a. in 2018
  • Highest Attrition at 18% was observed for consumer goods industry followed by Life Sciences at 14%

Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC) announced that companies are likely to dole out 10% salary increase across industries consistent with 2018 and 2017, according to Mercer’s 2018 Bangladesh Total Remuneration Survey (TRS).

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.

About Mercer

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

 

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