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India Technology Industry Compensation Benchmarking Survey Findings: 2023

September 5, 2023 2214 4 nasscom insights

India Technology Industry Compensation Benchmarking Survey Findings: 2023

The findings presented in this report are based on a Technology compensation benchmarking survey conducted by Deloitte and supported by nasscom. The report focuses on key imperatives that have changed in the technology industry in the last one year including benefits and rewards, new-age skills accruing premium benefits, learning & development opportunities and other HR strategies followed by organizations.

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Key Highlights

Top priorities for organizations

  • Talent Development: Focus on building skill-based organizations where the workforce is highly capable, innovative, and responds to changes effectively
  • Organizations continue to differentiate top performers and reward exemplary performances thereby fostering a culture of excellence and retaining key talent

 

Greater focus on skill based economy

  • There is a shift to Skill Based Organizations with companies leveraging a common skills framework for career progression
  • The key drivers for L&D Initiatives include upskilling employees to build business-centric capabilities, talent attraction and retention, engagement & positioning as the employer of choice 

 

Redefining the workforce & workplace

  • Organizations are offering new-age benefits and personalized benefits as part of their total rewards to keep up with the needs of millennials & to attract and retain high potential talent
  • To thrive in a tough economy, executives look to use human-centric work models, AI automation and data-driven approach to attract new talent & boost employee performance

 

Campus hiring practices

  • Total rewards continue to be the most significant motivating factor for campus students
  • 75% of Gen Zs and millennials would prefer working patterns where they either split their time between remote and on-site work or work entirely from home

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.



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