Overview

The findings presented in this report are based on an IT-BPM compensation benchmarking survey conducted by Deloitte and supported by NASSCOM. The report covers India-specific insights on how HR leaders responded to COVID-19 and what are some of the most critical emerging trends with respect to increment analysis, compensation rationalization, state of hiring and other HR strategies

Key Highlights

Compensation Analysis

• Firms that closed their increment cycle prior to the start of the lockdown in March 2020 have given a higher increment
• No double-digit increments in 2020, but IT – BPM has had relatively lesser decline in increments as compared to other sectors

Hiring & Skills Analysis

• Shift in hiring increases towards experienced and skilled middle and senior management
• New-age functions and processes are being paid premiums of 15-22%, which puts pressure on decreasing overall budgets

HR Initiatives

• HR teams are implementing different initiatives to help save cost for their firms –
  • Pay ranges, L&D budgets reallocation, leave policy rationalization etc

Rewards Outlook

• The rewards outlook for the IT-BPM sector in 2020 was impacted marginally, but 2021 will witness a higher impact
• The compensation budgets for organizations have reduced as compared to the expectations outlined at the beginning of 2020

The post IT-BPM Compensation Benchmarking Survey Findings: 2020 appeared first on NASSCOM Community |The Official Community of Indian IT Industry.