“E-commerce sector reported the highest increment in salary at 12.5% and the highest voluntary attrition rate of 20.4%”, says KPMG Annual Compensation Trends Survey 2017-18
54% companies deem ‘re-inventing Performance Management System’ to be most critical to talent management
As organisations across industries in India become more forward-thinking, they are also evolving their compensation methods to attract, develop, engage, and retain talent. The Annual Compensation Trends Survey 2017-18(Report attached) conducted by KPMG in India, aims to understand a wide range of current and emerging compensation trends in organisations across India and provide them with a reference point on key aspects such as increments, variable pay, benefits, employee attrition and retention, and potential future HR trends.
The survey analyses and brings together findings from 263 companies across 19 sectors such as Automotive and Auto components, Banking & Financial Services, Consumer Goods, Energy, Engineering & Manufacturing, Infrastructure, Construction and Real Estate, IT & ITeS, Life Sciences/ Pharmaceuticals & Healthcare, Logistics, Media & Advertising and Retail.
Highlighting how organisations are aligning their people strategies with evolving needs,Vishalli Dongrie, Partner and Head, People and Change Advisory Services, KPMG in India said, “With the new generation of employees looking for greater control, involvement in key decisions and a culture of feedback and regular conversations, organisations realize that they need to re-think the way they nurture and manage talent and performance. New HR initiatives are being implemented and organisations are testing waters to create an optimal performance management model.”
Key highlights of the report:
KEY COMPENSATION FINDINGS:
KEY SECTOR TRENDS
FUTURE HR TRENDS:
COMPENSATION DRIVERS AND CHALLENGES:
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