India Technology Industry Compensation Benchmarking Survey Findings: 2022

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The findings presented in this report are based on an Technology compensation benchmarking survey conducted by Deloitte and supported by NASSCOM. The report covers India-specific insights on critical emerging trends with respect to industry wide rewards & compensation, skill development & retention, inclusivity & diversity, flexible workplace, state of hiring, talent imperatives and other HR strategies

Key Findings

Trends causing industry wide expansion

Changing Talent Strategy: The focus is on optimizing best practices by seeking domain expertise and experienced employees
Total Rewards as Key Focus: Total Rewards continue to be the most significant motivating factor
Tackling Rising Attrition: With increasing demand there’s higher attrition of employees with domain expertise, focus on retention of existing talent by altering current policies
Hybrid Model Impact: Majority organizations have introduced ‘hybrid’ benefits – workcations, special allowances etc.

Compensation Trends

While salary increments in 2021 increased sharply after the slow- down in 2020, increments in 2022 remain closer to the 2021 average
Most organizations are expected to continue differentiation in increments by Levels of Management with higher increments at lower levels
Bonuses across different sub-sectors in the tech industry continues to inch forward

Workplace Trends

The New Normal consists of Hybrid Work Models with sophisticated remote work policies and focus on the impact on employee productivity
With emerging Hybrid Work Models, HR practices like traditional hiring process has been completely reformed post pandemic
High focus on increasing flexibility for employees through monetary and non-monetary offerings
Organizations are moving towards building a culture of Diversity, Equity and Inclusion

Hiring & Skill development Trends

Organizations have increased focus on hiring from campuses with mid-sized organizations also increasing focus on hiring fresh talent
Organizations are strategically leveraging monetary and non-monetary instruments which indicate high correlation with retention of key talent with a focus on L&D to build long term capabilities
With a positive impact on retention observed from L&D investments, companies are planning for short term and long-term Skill Supply

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