IT-BPM Compensation Benchmarking Survey Findings: 2020
Blog: NASSCOM Official Blog
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.
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