Topics In Demand
Notification
New

No notification found.

IT-BPM Compensation Benchmarking Survey Findings: 2020

October 30, 2020 11046 0 IT Services

IT-BPM Compensation Benchmarking Survey Findings: 2020

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

11046

0

Download

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

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



LATEST REPORTS

© Copyright nasscom. All Rights Reserved.