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 believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 83,000 colleagues and annual revenue of approximately $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and Twitter.