The NASSCOM–Hewitt Total Rewards Study

IT and ITES organizations have been in a high growth phase in the last five years and have increasingly experienced flux and instability. Progressive organizations in this space are using comprehensive, efficient and cost effective HR practices to combat the business and HR challenges faced due to the stupendous growth that the industry has experienced.

Statistics validating this fact can be found in high annual salary increases (reinforcing the business growth and challenges of attraction and retention of talent), high levels of attrition and constantly evolving innovative HR practices (hiring, performance management, career management, etc.) in these sectors.

Annual Salary increases in 2007 were as high as 14.0% and 15.0% in IT and ITES respectively while projected increases for 2008 are also expected at the same levels. Attrition in these sectors is as high as 25%.

With India's burgeoning role in the global IT & ITES landscape, people will be the key value differentiators that organizations may have to offer to their client. Hence it becomes imperative for organizations to attract, retain and motivate the right talent.

To achieve the same, organizations must offer a distinct value proposition to successfully attract talent. The right mix of culture and HR practices contributes to the above in a big way. Compensation is most certainly a key driver in such situations.

The NASSCOM–Hewitt Total Rewards Study addresses this need of the Industry and provides a more holistic approach to Total Rewards and People practices adopted by the best in the Industry. It enables organizations to determine how effectively their practices are aligned with the market and business.