Top 5 Compensation Trends
1. Fewer pay freezes: Surveys show that fewer employers are freezing pay this year compared to previous years, a trend that will likely continue as the economy improves. One study of Ohio organizations found that 91% of employers were planning to provide pay increases in 2013, up from just 55% in 2009.
2. Pay increases expected to stay: around 3%Salary projections predict pay increases will be 2.9%-3.0% for 2013, compared to 2.7-2.8% over the last few years. These projections are lower for non-profits (2.5%) and behavioral health care organizations (2.3%).
3. Increased use of benchmarking: for compensation decisions Employers are using benchmarking data to make compensation decisions, relying on local, national and international surveys. Research finds that employers are more likely to guide the compensation discussion with benchmarking and reports than with analytical techniques like predictive modeling and simulations.
4. Merit-based pay raises continue: High-performing employees are receiving higher pay increases than lower-performing employees, surveys show. Top performers in 2012 saw the highest pay increase—4.4% on average—while average performers received average increases of 2%. While many employers had put compensation strategy on the back burner during the down economy, HR Consultant Amy Petrus thinks this will change: “During 2013, I think employers will need to revisit compensation structures that were designed years ago and make sure they have a sound, appropriate, market competitive vehicle to make fair and equitable compensation decisions.”
5. Bright future for IT positions: According to local and national studies, pay is steadily increasing for IT professionals. Data from the Bureau of Labor Statistics shows IT compensation trending well above average. Pay increases for IT professionals are expected to hit 5.3% in 2013, compared to the average of 3%.Whether you are among the employers raising pay this year or not, compensation strategy is clearly reemerging as a priority for organizations as the economy improves.
India is an agricultural country not so much because agriculture gives more income than other activities but because about 60% of people still depend for their livelihood on agriculture. It also ensures food security for the country and produces several raw materials for industries. India is so diversified in geographical extent arid climate that there is no uniform form practices in the country but physical and human factors have played their respective roles to give rise to different types of farming in different parts of the country.
These also refer to the combination of products that a farmer may choose to produce during a particular crop season. However the main types of farming which are commonly practiced are:
Compensation trends and practices in India
(i) Specialised and Diversified Farming:
When farm enterprises are run by the farmer in which he has acquired special knowledge, it is known as specialized farming. The specialized farming refers to only one kind of farm business such as raising a dairy cattle. On the other hand when a farmer is engaged in a multitude of farm enterprises, it is diversified farming. These two types of farming point to different motives. The motive behind specialized farming is profit and the motive behind diversified farming is self- sufficiency.
(ii) Mixed Farming:
Mixed farming refers to the combining of two independent agricultural enterprises on the same farm and a typical case of mixed farming is the combination of crop enterprise with diary farming. Here farmer raises his livestock on the by-products of crop grown. A farmer utilizes the existing manpower and equipment and has not to incur any additional expenses, similarly by raising livestock he draws a number of benefits from it for crop cultivation. The mixed farming is more suited to densely populated developing countries like India.
(iii) Dry and Irrigated Farming:
Dry farming is practiced in these areas which are deficient in rainfall and have no assured source of artificial irrigation. On the other hand, irrigated farming is practiced in those areas where assured water supply from artificial sources of irrigation is available. The dryland farming in India covers about 70% of the cropped area and accounts for about 40% of food grains output. The strategy of dry-land farming envisages both intensive and extensive approaches. The intensive approach aims at integrated development of selected micro- watersheds through a multi-disciplinary approach including land and water management, crop protection horticulture, agroforestry, pasture development, etc.
(iv) Ranching:
This refers to the practice of grazing animals on public lands. In India, this practice is prevalent in the hill regions which are rich in pastures and grazing lands. But ranching is slowly dying out in our country because of the growing pressure on public lands. It is still in practice in states of Himachal Pradesh, Jammu, and Kashmir, etc.
(v) Plantation Farming:
This was introduced in India by Britishers in the 19th century. This type of agriculture involves growing and processing of a single cash crop purely meant for sale. This type of farming includes plantations of rubber, tea, coffee, banana etc. which is practiced mainly in Assam, sub- Himalayan, West Bengal and Nilgiri, Anaimalai, and Cardamom hills in the south.
(vi) Shifting Agriculture Farming:
This is a type of agriculture in which a piece of forest land is cleared by felling and burning of trees and crops are grown. After 2-3 years when the fertility of the soil decreases and it is abandoned. This type of farming is practiced in the North-Eastern states of India. In this farming dry paddy, wheat, tobacco, and sugarcane, etc. are grown. This is also a very crude and primitive method of cultivation which results in large-scale deforestation and soil erosion especially on hillsides causing devastating floods in the plains below. About one million hectares of land is degraded every year due to shifting cultivation
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