Staff costs rise by over 1/4th for top India corporates

Staff costs rise by over 1/4th for top India corporates
New Delhi: In a growing focus on employees in their growth path, industry leaders of Indian business, such as Reliance Industries, ICICI Bank and Infosys have raised by over one-fourth the spending on their staff. The average employee costs for the country's top listed companies, which constitute the benchmark index Sensex, rose by about 27 per cent in the last fiscal ended March 31, 2011. These companies include Mukesh Ambani-led corporate conglomerate Reliance Industries, banking giants ICICI Bank and HDFC Bank and IT majors Infosys, TCS and Wipro. The annual staff cost for the Sensex companies, which are the leaders of their respective industries, have risen by as high as 51 per cent and the minimum increase has been 19 per cent so far, based on the yearly figures released as yet.
Source: PTI