Post on 20-Mar-2020
Compensation Trends Survey 2012
Deloitte
Human Capital Advisory Services
April 2012
© 2012 Deloitte Touche Tohmatsu India Private Limited 2
Contents
Survey Highlights
Survey Details
Overall Industry Analysis
Detailed Sectoral Analysis
Participant List
© 2012 Deloitte Touche Tohmatsu India Private Limited 3
The Compensation
Trends Study is an
Annual Study,
conducted by
Deloitte Human
Capital Advisory
Services, of the
Indian Market on
areas that need
benchmark
information. This is
the second year this
study is being
conducted in India
Elements detailed in the Compensation Trends
Survey 2012 - 13
• Salary Increase for 2012 – 2013
• Variable Pay given / to be given for 2012 - 2013
• Attrition rate and key reasons for attrition faced by organizations
• Key Human Resource Challenges faced by organizations
• Cost optimization measures undertaken by organizations
Survey Details
Scope of the Survey
© 2012 Deloitte Touche Tohmatsu India Private Limited 4
2012 – 13
Compensation
Trends Survey
Report
The data
received was
collated and
analyzed to get
detailed
insights on
sector wise
practices and
compensation
trends
The response
received from
all participants
was validated
and checked
for accuracy
and intended
interpretation
A formal
invitation e-mail
was sent to the
Human
Resources in
the chosen
organizations
requesting for
participation
The
parameters of
the study were
finalized and a
structured
questionnaire
was designed
to be used as
a primary data
collection tool
Design the survey
instrument
The sectors
covered in the
study were
finalized along
with the leading
organizations
from each
sector
Finalization of Target Basket
Invite and seek consent for participation
Data Collection & Validation
Analysis
Survey Details
Survey Methodology
© 2012 Deloitte Touche Tohmatsu India Private Limited 5
Industry-wise participation
142 organizations participated in the Compensation Trends Survey for 2012 – 2013
Survey Details
Participant Profile
8.5%
4.4%
23.2%
7.0%
4.9% 9.2%
19.0%
5.6%
10.6%
7.4% Consumer Business & Retail
Energy & Resources
Financial Services
Information Technology
Information TechnologyEnabled Services
Infrastructure & Real Estate
Manufacturing
Media & Advertising
Pharmaceuticals, HealthCare &LifeSciences
Other(s)
© 2012 Deloitte Touche Tohmatsu India Private Limited 6
• Majority of the organizations (~75%) who participated in the survey have employees between 500 – 5000
Highest employee strength was observed in the Manufacturing sector (26%) and Financial Services (18%)
• Gross revenue of majority of the organizations (~50%) is over `1000 crores
Majority of the large revenue generating organizations were in the Manufacturing sector (36%) and Financial
Services sector (18%)
40.2%
34.1%
13.4%
12.2%
500 - 2000 2000 - 5000 5000 - 10000 10000 - 25000
24.2%
9.9%
17.6%
48.4%
100 - 300 Cr. 300 - 500 Cr. 500-1000 Cr. > 1000 Cr.
Gross Revenue Employee Strength
Survey Details
Participant Profile
Undisclosed participants: 16 Undisclosed participants: 36
© 2012 Deloitte Touche Tohmatsu India Private Limited 7
Contents
Survey Highlights
Survey Details
Overall Industry Analysis
Detailed Sectoral Analysis
Participant List
© 2012 Deloitte Touche Tohmatsu India Private Limited 8
• Overall median salary increase across sectors is 12%
• Manufacturing and Infrastructure & Real Estate sector have reported highest increment figures for 2012 – 2013
at 15%
• Financial Services sector has been most conservative in increment projection for 2012 – 2013 at 10%
• Overall Variable Pay (as a % of CTC) across sectors is 16 %. The frequency of payout is annual for the
majority of companies. However for sales staff, the payout is observed to be monthly or quarterly, depending
on organization compensation policy
• Sectors which have registered highest attrition are „ITeS‟, „Pharmaceuticals, Healthcare & Life Sciences‟ and
„Media & Advertising‟ and the sectors which have registered lowest attrition are „Manufacturing‟ and „Energy &
Resources‟
• The overall attrition across industries is 13%. Better Pay and Personal Reasons have been rated as the key
reasons for attrition industry-wide
• Hiring and Retaining skilled talent continues to remain a key challenge in the market
• Organizations are also keenly adopting cost optimization measures. „Offshoring / Outsourcing‟ of activities has
been rated highest amongst measures adopted. Interestingly employers are not keen on reducing spend on
„Recognition Programs' or „Training programs‟
Survey Highlights
Executive Summary
© 2012 Deloitte Touche Tohmatsu India Private Limited 9
Contents
Survey Highlights
Survey Details
Overall Industry Analysis
Detailed Sectoral Analysis
Participant List
© 2012 Deloitte Touche Tohmatsu India Private Limited 10
• The Indian economy faced twin macroeconomic challenges of managing growth and containing inflation during the
fiscal 2011-12 against a backdrop of an uncertain global environment
• In response to global economic issues such as Eurozone crisis and rising commodity prices, fiscal year 2011 -
2012 saw the Indian economy slow down
• Policymakers struggled to strike a balance between inflation and growth. Domestic growth rate was impacted by
tightening of the monetary policy by RBI and geopolitical concerns
• India has strong growth fundamentals but faces challenges in the form of a volatile global market coupled with
issues of fiscal consolidation and inflation. Upside risks to inflation expected from fiscal slippage, currency
depreciation and commodity shocks
• The budget pegged Gross Domestic Product (GDP) for the year 2011-12 to have grown at 6.9% primarily due to
deceleration in industrial growth. The estimated GDP growth in 2012-13 is at 7.6%
• The Wholesale Price Index (WPI) inflation for all commodities for the period of March 2011 to January 2012
moderated to 6.6 per cent**
• Inflation in Consumer Price Index for Industrial Workers (CPI-IW) was 5.32 per cent in January 2012**
• A slowing global economy continues to have an impact on the Indian Economy. According to the RBI, the world
economy may observe a decline in its growth trajectory although it is not slated for another recession
Source: ** Economic Survey 2011 – 2012
Deloitte Budget Publication
Overall Industry Analysis
Market Overview
© 2012 Deloitte Touche Tohmatsu India Private Limited 11
• Annual median increment for 2012 – 2013 across all sectors is 12%
• Manufacturing and Infrastructure sector has the highest increment figures at 15% and Financial Services sector
has the lowest increment figure at 10%
• Financial services sector maintains a conservative estimate given the overall mood of the economy
• Manufacturing and Energy & Resources have marginally higher increments as compared to last year
• „Infrastructure & Real Estate‟, „Pharmaceutical and Healthcare & Life Sciences‟ have reported the same increment
figures as last year
• ITeS sector has seen the steepest drop in salary projections despite the attrition challenge faced by the industry
• Interestingly, in most organizations employers are aware that most employees leave for better pay elsewhere
however they have either the same increment or lower increments as compared to last year
Overall Industry Analysis
Annual Increment Trends
12%
16% 15%
12% 13%
12% 13% 13%
10%
13% 11%
12%
15%
12% 12%
10%
15% 14%
11% 12%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
InformationTechnology
InformationTechnology
EnabledServices
Infrastructure &Real Estate
Pharmaceuticals,HealthCare &LifeSciences
ConsumerBusiness &
Retail
FinancialServices
Manufacturing Energy &Resources
Media &Advertising
Other(s)
2011-12 2012-13
© 2012 Deloitte Touche Tohmatsu India Private Limited 12
• The 12% increment is almost standard across the cadres
with a few organizations giving lower increments to the
Senior and Top Management level
• Majority of the sector companies have given increments to all
their employees in the range of 10-15%, across all levels –
Junior, Middle, Senior & Top Management
Top – Max; Bar – Median; Bottom - Min
• The Increment Range is wider at top management levels
as compared to junior levels
Overall Industry Analysis
Annual Increment 2012-13
Increment Percentiles
10th 25th 50th 75th 90th
JM 10.0% 10.0% 12.0% 15.0% 15.0%
MM 9.0% 10.0% 12.0% 14.6% 15.5%
SM 7.6% 10.0% 11.0% 13.8% 15.0%
TM 7.5% 9.8% 10.0% 12.6% 15.3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
JM
MM
SM
TM
Level-wise frequency distribution
12% 12% 11% 10%
0%
10%
20%
30%
40%
50%
Increment Range
Increments are expected to be conservative, attributable to the overall economic conditions
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 13
• Increment figures were conservative as compared to last
year with a marginal drop across all percentiles
• The overall median has dropped one percentage point to
12%
• Median annual increment percentages dropped across
levels; the reduction is highest at top management levels
by nearly 1.2% points
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 10.0% 11.0% 13.0% 15.0% 17.0%
2012-13 9.0% 10.0% 12.0% 14.1% 15.1%
Overall Industry Analysis
Annual Increment Trends
12.5% 12.3% 12.0%
11.2%
12.0% 12.0%
11.0% 10.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
Median Increment Across Levels
2011-12 2012-13
Increments are expected to be conservative, attributable to the overall economic conditions
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 14
• The average Variable Pay across all industries is 16%
• Variable Pay across industries has mostly remained the same or reduced as compared to last year
• The exception to this is the Manufacturing sector where the Variable Pay has significantly increased
• Information Technology, ITeS, „Energy & Resources‟, „Infrastructure & Real Estate‟ and „Media & Advertising‟ are paying the same
Variable Pay at median levels in 2012 as they did in 2011
• Consumer Business & Retail has shown a marginal increase in Variable Pay as compared to last year
• In the Financial services sector, there is a clear indication of companies moving to a more Fixed Pay structure with less
dependence on the Variable Pay
Overall Industry Analysis
Annual Variable Pay Trends
15% 14%
15%
18% 17%
22%
13% 13% 11%
15% 14%
15% 15%
18%
20% 20%
13%
11%
0%
5%
10%
15%
20%
25%
InformationTechnology
InformationTechnology
Enabled Services
Infrastructure &Real Estate
Pharmaceuticals,HealthCare &LifeSciences
ConsumerBusiness & Retail
Financial Services Manufacturing Energy &Resources
Media &Advertising
2011-12 2012-13
© 2012 Deloitte Touche Tohmatsu India Private Limited 15
• In a growing economy, the role of Senior and Top management
is pivotal in the growth of organizations. This is reflected in the
Variable Pay structure of their compensation
• Variable Pay is lower at the Middle and Junior Management
levels. At these levels, a higher emphasis is laid on the unit and
team level performances for disbursal of variable pay. The
compensation at these levels is driven by a higher Fixed
Compensation
Top – Max; Bar– Median; Bottom - Min
• Majority of the companies gave variable pay in the range of 10-
30%; with few exceptions
• The spread in the variable pay range is seen highest at the
middle and senior management levels
Overall Industry Analysis
Variable Pay 2012-13
Variable Pay Percentiles
10th 25th 50th 75th 90th
JM 10.0% 10.0% 14.0% 20.0% 25.0%
MM 10.0% 12.8% 15.1% 20.0% 28.4%
SM 10.0% 15.0% 20.0% 25.0% 30.0%
TM 14.6% 20.0% 22.5% 30.0% 35.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
% o
f C
om
panie
s
Range of Variable Pay
Level-wise frequency distribution
JM
MM
SM
TM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
14% 15% 20% 23%
0%
20%
40%
60%
80%
100%
120%
Variable Pay (as % of CTC) Range
Trend shows overall decrease in Variable pay across industries
MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 16
• The spread of variable pay range has shown a considerable
decrease as compared to 2011 -12
• Across all industries, the variable pay has reduced most for Top
Management by 2.5% points
• The higher payout is expected to be at 30% as compared to
41% last year
• The median variable pay remains the same as compared to last
year
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 9.0% 12.0% 16.0% 26.0% 41.0%
2012-13 8.9% 12.0% 16.2% 20.0 % 30.1%
Overall Industry Analysis
Variable Pay Trends
15.0%
14.0%
19.0%
25.0%
14.0%
15.1%
20.0%
22.5%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
Trend shows overall decrease in Variable pay across industries
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 17
• Attrition continues to remain a key area of concern in the Indian industry
• Junior management level faces highest level of attrition in the ITeS sector at 34%
• Pharmaceutical, Healthcare & Life Sciences faces highest overall attrition at 22%. This
is followed by ITeS and „Media & Advertising‟ at 16%
• Manufacturing and „Energy & Resources‟ faced lowest overall attrition at 8%
• The most prevalent reason employees leave organizations is better pay elsewhere
• Many employees are also seeking to upgrade their current skillsets and are leaving
organizations to pursue further studies in India and abroad
• Improved work - life balance is another area which is slowly but steadily gaining
momentum as employees seek to consciously decrease levels of stress at the
workplace
Top Attrition Challenges
1 Better pay elsewhere
2 Personal reasons
3 Pursue further studies
17%
34%
15%
22%
16%
22%
11% 10%
22% 20%
11%
17%
11%
25%
12% 13%
9% 8%
16% 14%
11% 12%
7%
23%
10% 8% 7%
11% 14%
13%
8%
1% 4%
18%
8% 8% 6%
4%
10% 9%
0%
5%
10%
15%
20%
25%
30%
35%
40%
InformationTechnology
InformationTechnology
EnabledServices
Infrastructure &Real Estate
Pharmaceuticals,HealthCare &LifeSciences
ConsumerBusiness &
Retail
FinancialServices
Manufacturing Energy &Resources
Media &Advertising
Other(s)
Overall Industry Analysis
Attrition Analysis
JM MM SM TM
© 2012 Deloitte Touche Tohmatsu India Private Limited 18
• Hiring and retaining critical talent is the
top Human Resource challenge being
faced by leaders today
• The competitive market is a key
contributor to the same
• Ability to develop managers who will be
able to take up potential leadership
positions, also seems a significant cause
of concern
• Retention of employees is also linked to
Employee Engagement and the same has
been ranked as the 3rd human resource
challenge
• Developing an Employee Value
Proposition will help organizations engage
and retain employees over the long term
Human Resource Challenges
1 Retaining critical talent
2 Hiring of skilled talent
3 Engaging the employees
Cost Optimization Measures
Outsourcing of certain services
Setting up Shared Services Centers
Headcount reduction
Overall Industry Analysis
Human Capital Trends
• Cost optimization measures have become
increasingly important given the current
economic scenario
• Offshoring / Outsourcing of certain services
has been rated highest amongst measures
adopted. Organizations do not see value in
continually investing resources & time in
activities which are non-core to the
business
• Setting up Shared Service Centers also
helps organizations optimize existing
resources and manage work more
efficiently
• In certain cases, Headcount reduction is
also being considered, as employee cost is
significantly high in certain organizations
1
2
3
© 2012 Deloitte Touche Tohmatsu India Private Limited 19
Contents
Survey Highlights
Survey Details
Overall Industry Analysis
Detailed Sectoral Analysis
Participant List
Sector Analysis: Consumer Business & Retail
© 2012 Deloitte Touche Tohmatsu India Private Limited 21
Increments have been conservative at 12%,
attributable to the prevalent market sentiment
The increment percentages have dropped by 1-2%
points across levels compared to last year, with
maximum impact at top management level
The median variable pay in this sector is 18%;
competitive to the industry benchmark of 16.2%
High employee turnover in this sector has made
Engaging and Retaining talent a perennial burning
priority in this sector
Outsourcing, Setting up shared services and
Freeze on company travel were the top 3 cost
optimization measures in this sector
Consumer Business & Retail
Executive Summary
© 2012 Deloitte Touche Tohmatsu India Private Limited 22
Industry Overview
• The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian
economy
• The retail segment too is experiencing exponential growth, with retail development taking place
not just in major cities and metros, but also in Tier-II and Tier-III cities
• Growing population, rising incomes, urbanization, the advent of modern retail, and a
consumption-driven society present tremendous opportunity for growth for this sector
• High brand consciousness and emergence of concepts such as quick and easy loans, EMIs, loan
through credit cards, has further made purchasing easy for Indian consumers
• Leading players of consumer products have a strong distribution network to capitalize on rising
brand consciousness and expand into yet untapped rural India
• Consolidation, Expansion, rural penetration, channel integration (both upward and downward)
and product innovation are notable trends in this sector
Key Challenges
• Counterfeiting and pass-offs taking advantage of the lack of literacy & consumer knowledge is a
challenge for the FMCG sector. They not only affect the revenues, but also undermine the brand
equity of big brands
• Apart from the pressure on margins, the biggest fear of Indian FMCG players is the introduction of
private labels as they tend to the consumer‟s price points, particularly at the mass level
• Retail today has changed from selling a product or a service to selling a hope, an aspiration and
above all an experience for a consumer, that consumer would like to relive again and again
• Foreign retailers are entering into Indian market to share a huge profit through the automatic route
in cash & carry (wholesale)
• Facing stiff competition from these global retail giants, discounting is becoming an accepted
practice which further cuts into the profit of the Indian retail players
Consumer Business & Retail
Sector Snapshot
• The FMCG sector generated
revenues worth USD 27.9
billion in 2010
• FMCG industry expanded at
a compound annual rate of
15.4 % during 2006-10
• The Indian retail market
stands at USD 396 billion in
2011
• The organized retail segment
expected to be 9% of total
retail market by 2015 and
20% by 2020
• Semi-urban and rural
segments are growing at a
rapid pace, currently
accounting for 33 % of
revenues in 2011
Performance Highlights
Source: Deloitte Retail POV “Indian Retail
Report Changing with the changing times”;
IBEF report
© 2012 Deloitte Touche Tohmatsu India Private Limited 23
40%
60%
Consumer Business Retail
Service wise Breakup Revenue wise Breakup Employee Strength wise Breakup
Consumer Business & Retail
Participant Profile
• Close to even mix of consumer business and retail segments participated in the survey
• 82% of the participants in the consumer business sector were organizations with an Annual Revenue over ` 500 Cr. representing a
good mix of the market
• The survey received participation of companies at various maturity levels, making the mix a good representative sample of the
market. 42% of the participating organizations had an employee strength of between 500-2000, followed by 25% organizations with
less than 500 employees
18%
36%
46%
< 100 Cr. 100 - 500 Cr.
500-1000 Cr. > 1000 Cr.
25%
42%
9%
8%
8%
8%
< 500 500 - 2000
2000 - 5000 5000 - 10000
10000 - 25000 > 25000
Undisclosed Participants: 9 Undisclosed Participants: 4
© 2012 Deloitte Touche Tohmatsu India Private Limited 24
12.0% 12.0% 11.8% 10.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
• The sector Median for annual Increment % is 12%, in-line
with the annual increment % median across all sectors
• Majority of the sector companies have given increments to all
their employees in the range of 9-15%, across all levels –
Junior, Middle, Senior & Top Management
Top – Max; Bar – Median; Bottom - Min
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
Level-wise frequency distribution
JM
MM
SM
TM• The spread of the Increment Range is wider at senior levels as
compared to junior levels, indicating the Top Management
increments are subjected to higher scrutiny and variation as
compared to the lower levels
Consumer Business & Retail
Annual Increment 2012-13
Increment Percentiles
Increment Range
10th 25th 50th 75th 90th
JM 10.9% 11.6% 12.0% 14.8% 15.0%
MM 10.0% 11.6% 12.0% 13.5% 15.3%
SM 9.0% 10.0% 11.8% 12.0% 15.5%
TM 7.9% 10.0% 10.0% 11.9% 12.8%
Increments have been conservative; organizations remain cautious due to the prevailing low consumer
confidence
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 25
13.0% 13.3% 13.4% 13.5%
12.0% 12.0% 11.8%
10.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
• Increments this year have been conservative attributable to
the prevalent market sentiment
• Higher increments are expected to be around 15% as
against 17% last year, a significant 2 % points drop
• Median annual increment percentages dropped across
levels; the reduction is highest at top management levels
by nearly 3.5% points
Annual increment have dropped by 1-2% points across levels, with maximum impact at top management levels
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 10.0% 11.0% 13.2% 16.0% 17.1%
2012-13 9.0% 10.8% 12.0% 12.8% 15.3%
Consumer Business & Retail
Annual Increment Trends
Median Increments Across Levels
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 26
• The sector median variable pay stands at 18.2%; higher than the
overall industry median
• While most of the companies have a variable pay plan for
corporate and support staff, attractive sales incentive schemes is
a common practice for the frontline sales force to motivate them
to exceed expectations
• Monthly/Quarterly/Biannual incentive based payments against
annual payments is gaining popularity in this sector, considered
effective to motivate people in a high turnover sector like retail
Top – Max; Bar– Median; Bottom - Min
Variable pay in the consumer business and retail sector (18.2%) is competitive when compared to the cross-
sector benchmark of 16.2%
• Majority of the companies gave variable pay in the range of 10-
20%; with few exceptions
• The spread in the variable pay range is seen highest at the top
management levels
Consumer Business & Retail
Variable Pay 2012-13
Variable Pay Percentiles
Variable Pay (as % of CTC) Range
10th 25th 50th 75th 90th
JM 10.0% 10.0% 15.0% 18.5% 20.0%
MM 10.0% 11.5% 14.0% 18.5% 21.2%
SM 11.4% 15.2% 19.0% 25.0% 27.1%
TM 15.6% 19.5% 25.0% 26.3% 36.0%
15.0% 14.0% 19.0% 25.0%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
JM
MM
SM
TM 0%
10%
20%
30%
40%
50%
60%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
Perc
enta
ge o
f C
om
panie
s
Range of Variable Pay
Level wise Frequency Distribution
© 2012 Deloitte Touche Tohmatsu India Private Limited 27
• The spread of variable pay range has considerably shrunk ;
across the sector the variable pay range between 10th & 90th
percentile has reduced to 10-28% as compared to 12-50% last
year
• At median, the variable pay percentage has increased
indicating that increasing imperative of performance based pay
across cadres is necessary to remain competitive
• A higher payout is expected to be around 30% as compared to
50% last year
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 12.0% 15.0% 17.0% 28.0% 50.0%
2012-13 10.0% 14.3% 18.2% 19.0% 28.0%
Consumer Business & Retail
Variable Pay Trends
10.0% 11.5%
16.0%
19.5% 15.0% 14.0%
19.0%
25.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
Senior and Top management levels have experienced significant drop in the variable pay
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 28
• High employee turnover in this sector has
made Engaging and Retaining talent a
perennial burning priority in this sector
• With customer experience becoming a
prime differentiator for a company in this
sector, the training and engagement of
the workforce has become critical
• Hiring and keeping good employees also
substantially reduces costs for employers,
which in turn affects their competitiveness
and profitability
• The failure to hire and retain qualified
people is costly in a number of ways like
loss of training investment, need for
higher inventory et al
• There is also a need to develop potential
leaders to assume leadership positions in
the organization in the long term
Human Resource Challenges
1 Hiring talent
2 Engaging people
3
Reasons for Attrition
Better pay
Career options
Personal Reasons
Cost Optimization Measures
Outsourcing of certain services
Setting up Shared Services Centers
Freeze on company travel
Consumer Business & Retail
Human Capital Trends
• Attrition is a challenge faced by this sector
primarily in the Junior Management level
and in the Sales roles
• While organizations try and pay
competitively, they are still losing
employees to better pay elsewhere
• Also these jobs are not perceived as career
builders in short run as there is no clear
career path for these employees
• So within a couple of years in the job
employees either opt for further studies or
better career prospects
• Outsourcing/ Offshoring is the most
preferred route with 50% of companies;
includes outsourcing payroll, leave and
other administrative activities
• Close second is Setting up Shared Service
Centers – an option explored by several
key sector companies – to help meet the
tight budget targets
• Travel has been restricted to only Senior
and Top management level or justified
essential business requirements only
• Reduction in external hiring, overhead
expenses and balanced approach to
increase in top management salaries were
some other approaches undertaken by
participants in this sector
1
2
3
1
2
3 Training & development of potential leaders
Industry Sector Manufacturing
Sector Snapshot
© 2012 Deloitte Touche Tohmatsu India Private Limited 30
Manufacturing
Executive Summary
The increments in the Manufacturing
Sector are amongst the highest across all
sectors for 2012 – 2013
At the median, Annual Increment is – 15%
Annual Increments have increased
compared to last year and this may be due
to the market corrections taking place in
the sector and it also indicates signs of
the sector slowly picking up pace.
Variable Pay median is at 20% and it has
increased compared to last year where it
was 12.5%
Top Management has received the highest
variable pay
© 2012 Deloitte Touche Tohmatsu India Private Limited 31
Industry Overview
The Indian manufacturing sector is the mainstay of the entire Indian industry as
manufacturing output constitutes over 75 per cent of the index of industrial production (IIP)
India enjoys a competitive advantage on the global canvas owing to key reforms in
taxation, infrastructure and clusters (like special economic zones [SEZs]) implemented by
the Government, availability of reasonably-priced skilled labor workforce and a positive
eco-system
Recent analysis finds that rising demand in India, together with the multinationals‟ desire to
diversify their production to include low-cost plants in countries other than China, could
together help India‟s manufacturing sector to grow six fold by 2025, to $1 trillion, while
creating up to 90 million domestic jobs
Key Challenges
The country would need to fully leverage the opportunities provided by the dynamics of
globalization
India has over 60% of population in the working age group of 15-59 years. Utilizing this
huge resource of manpower in the most efficient manner is also a challenge in front of the
Indian Manufacturing Industry
To sustain or bring about further expansion in the sector, developing sound infrastructure,
visible and reliable supply chains, efficient process and updated technology would be key
• The business expectation
index (BEI), which acts as a
barometer of the overall
health of the manufacturing
sector, stood at 110.1 for the
assessment quarter while
RBI expects it at 117.2 for
the January-March 2012
quarter
• Manufacturing exports from
India could increase from
USD 40 billion to about USD
300 billion by 2015. This
would make India rake-in a
share of approximately 3.5
per cent in the world
manufacturing trade
Performance Highlights
Manufacturing
Sector Snapshot
Sources: Economist Intelligence Unit; IBEF;
Consolidated FDI Policy, Department of
Industrial Policy & Promotion (DIPP); Media
Reports
© 2012 Deloitte Touche Tohmatsu India Private Limited 32
• Majority of the participants in the Manufacturing sector were organizations with an Annual Revenue over `1000 Cr. The second
highest participation came from organizations with Annual Revenue between `500-1000Cr
• 38% of the participating organizations had an employee strength of between 2000-5000, followed by 23% organizations with
between 500-2000 employees
Manufacturing
Participant Profile
Undisclosed participants - 3
9%
5%
14%
72%
Annual Revenue wise Break up
100-300cr 300-500cr 500-1000cr >1000cr
18%
8%
38%
23%
12%
<500 10000-25000 2000-5000
500-2000 5000-10000
Annual Revenue Wise Break Up Employee Strength
© 2012 Deloitte Touche Tohmatsu India Private Limited 33
• The industry average for overall Annual Increment % is
15% which is higher than the overall industry
• When comparing the annual increment % across levels
and percentiles, the increments show some amount of
variation across the percentiles except at the 75th
percentile. Here the increment % remains close to 15%
• Majority of participants have given increments in the range of 10
- 18% across all levels –Junior, Middle, Senior & Top
Management
• A high variation in the increment is observed at Top Management
where majority of the increments are between 7% to 25%
• Close to 10% of the top management level is getting increments
in the 0-5% range
Manufacturing
Annual Increments 2012-13
Top – Max; Bar – Median; Bottom – Min
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
Level-wise frequency distribution
JM
MM
SM
TM
At the median (15%), Annual Increments are higher than the overall cross-sector median
10th 25th 50th 75th 90th
JM 10.0% 12.0% 14.0% 15.3% 18.0%
MM 10.0% 12.0% 15.0% 15.5% 18.0%
SM 7.6% 10.0% 13.0% 15.0% 15.9%
TM 7.5% 10.0% 13.0% 15.0% 20.0%
14% 15% 13% 13%
0%
10%
20%
30%
40%
50%Increment Range
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 34
• Inflation continued to be a concern for the manufacturing
sector in the beginning of the last year due to lower demand
from the domestic as well as export markets. Plus the high
interest rate by the RBI put more pressure on the
manufacturing sector
• Inspite of this, the sector showed the strongest improvement in
business conditions since May 2011. This is reflected in the
industry median for annual which is 15%
• Overall the sector is relatively bullish as compared to last year
• The median increments for junior and middle is reported at
14% & 15% respectively whereas that for senior and top is
reported at 13%
• The increment given to the top management level remains the
same at 13% whereas there is a small dip in the increments
for senior management by 1% point
Manufacturing
Annual Increments Trends
Increments at the median level (15%) have increased considerably compared to last year (12.3%)
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 9.3% 12.0% 12.3% 14.0% 17.7%
2012-13 9.0% 12.0% 15.0% 15.0% 17.0%
13.4% 14.0%
14.0%
13.0%
14.0% 15.0%
13.0% 13.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Median Increments Across Levels
2011-12 2012-13
MM JM TM SM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 35
• The industry median variable pay % is around 20% which is
higher than the overall industry benchmark of 16.2%
• Top Management has received the highest Variable Pay
• The highest variation in the variable pay ranges have been
observed for the Top and Middle Management ranging from 10%
to 45% and 5% to 40% respectively; the lowest variation is found
for the Junior Management
• Majority of the organizations gave variable pay to Junior, Middle
and Senior Management employees within the range of 10%-
20%
• The Top Management in the majority of the organizations in this
sector received variable pay in the range of 10- 45%
• The Senior Management have received variable pay in the range
between 9% to 40%
Manufacturing
Variable Pay 2012-13
Top – Max; Bar – Median; Bottom – Min
Variable pay % in the manufacturing sector (20%) is above the overall cross-sector benchmark of 16.2%
Variable Pay Percentiles
10th 25th 50th 75th 90th
JM 10.0% 10.0% 15.0% 20.0% 29.3%
MM 10.6% 14.4% 15.0% 22.9% 28.5%
SM 13.5% 15.0% 20.0% 30.0% 30.0%
TM 15.0% 20.0% 21.8% 28.0% 34.5%
15% 15% 20% 22%
0%
20%
40%
60%
80%
100%
120%Variable Pay (as % of CTC) Range
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
Pe
rce
nta
ge
of
Com
pa
nie
s
Range of Variable Pay
Level wise Frequency Distribution
MM JM TM SM
JM
MM
SM
TM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 36
• The sector median for variable pay % is 20%. This is higher
than the median for last year which was at 12.5%
• Across all levels, median Variable Pay as a percentage of
Cost To Company (CTC) for Top and Senior Management is
the maximum 22% and 20% respectively followed by Middle
Management and Junior Management at 15%
• The median variable pay % has shown an increase across all
levels except Top Management, where it is nearly constant
as compared to last year.
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 7.0% 11.0% 12.5% 15.0% 18.0%
2012-13 12.0% 16.3% 20.0% 25.0% 30.0%
Manufacturing
Variable Pay
The median variable pay % has shown a considerable increase across all levels
8% 11%
15%
22%
15.0% 15.0%
20.0%
21.8%
0%
10%
20%
30%
40%
50%
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
MM JM TM SM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 37
• The top HR priorities for 2012-2013
broadly reflect the components of the
talent management cycle which begins
with hiring of skilled labour, retaining
critical labour and engaging them
• Training & development of potential
leaders is indicated as the top most
priority
• Following closely as the next top priority is
the retention of critical talent. The sector
is becoming highly competitive with
international companies setting-up their
base in India and poaching talent from
local markets
Top 3 HR Challenges
1 Training & developing potential leaders
2 Retaining of Critical Talent
3 Engaging Employees
Key Reasons for Attrition
Better Pay
Personal Reasons
Pursue Further Studies
Cost Optimization Measures
Setting up Shared Services Centers
Outsourcing of certain services
Headcount Reduction
Manufacturing
Human Capital Trends
• Better Pay has been ranked as the topmost
reason for attrition in the manufacturing
sector
• The 2nd focus area also reflects that
employees also leave organizations for a
variety of personal reasons ranging from
relocation, marriage etc.
• Employees are also looking to upgrade
their skills and education and leaving
organizations to pursue higher education in
India and abroad
• Among the above measures, Setting up
Shared Services is the most preferred route
that companies prefer taking with regard to
cost optimization measures. Earlier, this
option was utilized more by the IT/ITES
sector, however, looking at the current
market, even many manufacturing
companies are exercising this option
• This is closely followed by
Outsourcing/Offshoring of non essential
activities that is being undertaken by many
organizations
• Drastic measures such as Reduction in
Headcount also features in the top three
cost optimization measures
1
2
3
1
2
3
Sector Analysis Infrastructure & Real Estate
© 2012 Deloitte Touche Tohmatsu India Private Limited 39
Infrastructure & Real Estate
Executive Summary
The increments in the Infrastructure and
Real Estate sector are amongst the
highest across all sectors for 2012 – 2013
At the median (15%), Annual Increments
are considerably higher than the overall
cross-sector median
Annual Increments at median level are the
same as compared to last year
Variable Pay is not a sector-wide practice
Variable Pay median for this sector is at
15% and is the same as compared to last
year
© 2012 Deloitte Touche Tohmatsu India Private Limited 40
Industry Overview
• There has been a significant injection of foreign direct investment (FDI) during the last
financial year – in the vicinity of 23.6 % growth
• With regards to the Real Estate sector, the Indian economy has witnessed robust growth in
the last few years and in the coming years, is predicted to be one of the fastest growing
sectors in India
Key Challenges
Infrastructure constantly playing catch-up to growing population and urbanization demands
Challenges to the Real Estate industry revolve around transparency, limited market history,
forecasting difficulties as well as complexities regarding ownership records and land titles;
further hampered by lack of proper urban planning
• As per the Government
projections, Indian
infrastructure industry is
aiming to attract investments
worth USD 1 trillion during
the 12th Plan Period (2012-
17), with at least 50 per cent
funding from the private
sector
• The Real Estate industry in
in India is expected to grow
at 19% over the next 3 years
– with a major chunk of it
focused on Tier 1 cities. The
revenue currently stands at
around USD 66.8 billion for
the entire industry
Performance Highlights
Infrastructure & Real Estate
Sector Snapshot
Sources: Economist Intelligence Unit;
IBEF; Consolidated FDI Policy,
Department of Industrial Policy &
Promotion (DIPP); Media Reports
© 2012 Deloitte Touche Tohmatsu India Private Limited 41
22%
22% 45%
11%
Employee Strength
< 500 > 25000 10000 - 25000
2000 - 5000 500 - 2000 5000 - 10000
• Majority of the participants in this sector were organizations with an Annual Revenue of over `1000 Cr. The second highest
participation came from organizations with Annual Revenue falling in the range of ` 500-1000 Cr
• 45% of the participating organizations had an employee strength of between 500-2000, followed by 22% organizations with
between 2000-5000 as well as <500 employees each
Infrastructure & Real Estate
Participant Profile
Undisclosed participants - 3 Undisclosed participants - 3
11%
45% 11%
11%
22%
Annual Revenue wise Break up
< 100 Cr. > 1000 Cr. 100 - 300 Cr.
300 - 500 Cr. 500-1000 Cr.
© 2012 Deloitte Touche Tohmatsu India Private Limited 42
• The industry median for increments for this sector is 15%.
• The maximum range of increments for Middle and Senior
management levels is around 20%
• The Top Management range is high, however the median
is very low, which means that it is affected by one
organization projecting very high increment figures
Top – Max; Bar – Median; Bottom – Min
• Majority of Infrastructure and Real Estate companies have given
increments in the range of 10-14% and a significant number of
organizations have also given increments in the range of 15 –
19%, across all levels –Junior, Middle, Senior & Top
Management
• Overall, we see a lot more companies giving greater increments
to Junior and Middle Management than Top Management
• However, increment levels have fallen this year as compared to
last year
Infrastructure & Real Estate
Annual Increments 2012-13
Annual Increment median for this sector is at 15%
12.5% 12.5% 15.0%
10.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Increment Range
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Pe
rce
nta
ge
of
Com
pa
nie
s
Range of Increments
Level-wise frequency distribution
JM
MM
SM
TM
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 43
• The industry Median for annual Increment % is 15%. This is
higher than the overall annual increment % median (12%)
• Increments have fallen considerably compared to last year
with organizations at the 90th percentile also giving
increments at 5% points less than last year
• This could be because major market corrections were carried
out across the industry last year – giving rise to high increment
levels then – a strategy that was employed by most
organizations to retain skilled/trained employees
• Across all levels, Annual Increment (%) median for Top
Management (10%) is considerably lower than Senior
Management (15%), as well as Junior and Middle
Management (12.5%) levels
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 12.1% 13.6% 15.0% 19.6% 21.8%
2012-13 6.4% 10.0% 15.0% 15.9% 16.8%
15.0% 15.0% 15.5%
12.6%
12.5% 12.5%
15.0%
10.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
Median Increments Across Levels
2011-12 2012-13
Infrastructure & Real Estate
Annual Increments Trends
Annual Increments have reduced compared to last year; median increment for this sector still high compared
to overall cross-sector median for annual increment
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 44
• The industry median variable pay % for the sector is 15%
• Senior and Top Management have received the highest variable pay.
At the Junior level, employees have received around 12.2% at median
– however there are some organizations that do not give Variable Pay
to their lower management levels
• Note: Variable Pay is not a sector-wide practice as half the
organizations participating in the study did not have a variable pay
scheme in place. These participants may give out ad-hoc bonuses
instead. Also, no company gave variable pay in the range of 30-50%
to Top management.
Infrastructure & Real Estate
Variable Pay 2012-13
Top – Max; Bar – Median; Bottom – Min
Variable Pay is not a sector-wide practice
12.2% 15.1% 20.0% 20.0%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
Variable Pay (as % of CTC) Range
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<10 10-20 20-30 30-50 50-80 >80
Pe
rce
nta
ge o
f C
om
pan
ies
Level-wise Frequency Distribution
JM
MM
SM
TM
• Majority of the organizations in this sector gave variable pay to
their Senior Management in the range of 10-20%. Most of these
were at the upper limit of this range (i.e. at or near 20%). The
same is true for Top Management
• 83% of the organizations also gave their Middle Management
variable pay in the range of 10-20%.
• Majority of the organizations that gave variable pay to Junior
Management, did so in the range of 10-15%
© 2012 Deloitte Touche Tohmatsu India Private Limited 45
• The sector median for variable payout % is 15%
• Across all levels, Variable pay (%) median for Top and
Senior Management is the maximum (20%), followed by
Middle Management (15.1%), and then Junior
Management (12.2%)
• For Middle and Senior Management, the median variable
pay % has increased a lot as compared to last year.
• Overall, the median variable pay % for this sector has
increased marginally. However, this is still lower than the
overall industry median Variable Pay % (16.2%)
• One important point to note is the change in the ratio of
variable pay component as a percentage of CTC which
shows an upward trend. This shows an inclination
towards more standard processes and methods of reward
and a shift away from ad-hoc rewards
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 8% 11% 14.5% 15% 16%
2012-13 9.5% 12.75% 15% 15.75% 18.5%
Infrastructure & Real Estate
Variable Pay
Variable Pay % median is at 15%; lower than the overall cross-sector median (16.2%)
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
10% 12%
16%
20% 12%
15%
20% 20%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
© 2012 Deloitte Touche Tohmatsu India Private Limited 46
• This sector is concerned with the
challenges posed by Talent – especially
by Training & Development and Hiring
Talent which are the most wide-spread
challenges and also the most crucial
ranked challenges
• This is a niche sector and hence difficult
to find established leaders in this space
and hence training and developing
potential leaders is the biggest potential
challenge faced by the sector
• While engaging employees, organizations
may also want to look at leveraging ways
to introduce some degree of work-life
balance so as to also reduce attrition
Top 3 HR Challenges
1 Hiring Skilled Talent
2 Training & Development
3 Engaging Employees
Key Reasons for Attrition
Better Pay
Further Studies
Work-Life Balance
Cost Optimization Measures
Setting up Shared Service Centers
Outsourcing / Offshoring
Freeze on Company Travel
• Better Pay has been indicated to be the
Number 1 reason for attrition in this sector,
even though the increments are high this
year
• The need for an improved work-life balance
is one of the top three reasons for attrition
and this is something that the sector as a
whole may need to look at particularly
• Better career opportunities, further studies,
personal reasons are the most wide-spread
reasons for attrition in this sector
• Among the above measures, Setting up of
shared services centers and freezing
company travel are the two options that
majority of the companies have/plan to
explore for cost optimization; this is closely
followed by outsourcing/offshoring certain
services. These are methods taken up by
many organizations across all sectors
• Shared Service Centers and Outsourcing
involve significant initial investment but
from a long term perspective, they are
strategic investments and will save huge
costs
• Some organizations also plan to
explore/have explored the option of
headcount reduction, although this is not
the preferred method
1
2
3
1
2
3
Infrastructure & Real Estate
Human Capital Trends
Sector Analysis Pharmaceuticals, Healthcare & Life Sciences
© 2012 Deloitte Touche Tohmatsu India Private Limited 48
Pharmaceuticals, Healthcare & Life Sciences
Executive Summary
The increments in the Healthcare sector are
amongst the lowest across all sectors for 2012 –
2013
Median annual Increments for this industry are
the same as the overall industry median - 12%
Median Variable Pay % is at 15%
Variable Pay is spread across a wide range
across levels
Variable pay is not necessarily a sector-wide
practice as a few participants do not have a
Variable Pay scheme in place
Attrition is highest at Middle Management level
© 2012 Deloitte Touche Tohmatsu India Private Limited 49
Industry Overview
• Healthcare expenditure in India expected to increase by 12% per annum between 2011-15
• Foreign Direct Investment in the country has increased and is now worth USD 1,183.04
million in hospitals and diagnostic centers and USD 9,170.24 million in drugs and
pharmaceutical space
• Recently, there have been a large number of acquisitions of domestic pharmaceutical
companies by foreign majors
• Increasing Government expenditure on public healthcare expected
• The industry‟s growth forecast is defined by rising incomes of the urban middle-class in
particular, leading to greater affordability of private healthcare facilities, a growing aged
segment of the population, and increasing risks from changing disease patterns and large
population of lifestyle diseases like Diabetes, Cancer, etc.
Key Challenges
The Government has made/proposed a lot of policy changes to control the rate of
takeovers of domestic pharmaceutical companies by large MNCs, in order to control the
price of medicines
The threat of controlled licenses being awarded to companies to manufacture patented
drugs at cheaper rates
Major companies are facing several patent related issues which have major impact on their
exclusive revenue streams – this is giving rise to the need for organizations to find cost-
cutting solutions
• The industry stands at USD
36 billion today and is
expected to grow at 15% per
annum
• The revenue of the industry
is expected to reach USD
280 billion between 2012 –
2022
• Contract Research and
Manufacturing Services to
increase at the rate of
around 13% per annum
globally over the next few
years
Performance Highlights
Pharmaceuticals, Healthcare & Life Sciences
Sector Snapshot
Sources: Economist Intelligence Unit;
Corporate Catalyst India; Department of
Industrial Policy & Promotion (DIPP);
IBEF
© 2012 Deloitte Touche Tohmatsu India Private Limited 50
9%
37%
36%
9%
9%
Annual Revenue wise Break up
< 100 Cr. > 1000 Cr. 100 - 300 Cr.
300 - 500 Cr. 500-1000 Cr.
23%
15%
39%
15%
8%
Employee Strength
< 500 > 2500010000 - 25000 2000 - 5000500 - 2000 5000 - 10000
Undisclosed participants - 1 Undisclosed participants - 3
• Majority of the participants in the Healthcare sector were organizations with an Annual Revenue of over `1000 Cr. The second
highest participation came from organizations with Annual Revenue between `100-300 Cr
• 39% of the participating organizations had an employee strength of between 2000-5000, followed by 23% organizations with less
than 500 employees
Pharmaceuticals, Healthcare & Life Sciences
Participant Profile
© 2012 Deloitte Touche Tohmatsu India Private Limited 51
• The ranges of the increments also do not vary much across levels
– the majority lying between 9 to 15 %
• When comparing the median annual increment % across levels
and percentiles, the increments are standard at 12%
Top – Max; Bar – Median; Bottom – Min
• Majority of Health Care companies have given increments to all
their employees in the range of 10-14%, across all levels –
Junior, Middle, Senior & Top Management causing the overall
increments in this sector to remain relatively low
• Within the range of 10-14% the Top Management increments are
all stable at 12% across organizations
• The 12% increments are also mostly standard across the other
levels with a few organizations giving higher increments to the
Junior and Middle Management (15-19% range) 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0-4 5-9 10-14 15-19 20-24 >25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
Level-wise Frequency Distribution
Pharmaceuticals, Healthcare & Life Sciences
Annual Increments 2012-13
The increments in the Healthcare sector are amongst the lowest across all sectors for 2012 – 2013
12.0% 12.0% 12.0% 12.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Increment Range
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
JM
MM
SM
TM
© 2012 Deloitte Touche Tohmatsu India Private Limited 52
• The industry Median for annual Increment % is 12%. This is
exactly the same as the overall annual increment % median
across all sectors
• There is a marked difference at the Top Management level
where the Annual Increment (%) has increased from 10% last
year to 12% this year
• While the median increments have remained stable across all
levels, a lot of companies opt for compensating for this with
attractive sales incentive schemes in this sector
• While considering overall ranges of increments, the median
has remained the same as last year. Increments have reduced
slightly at the 75th and 90th percentile. This is a trend followed
by many different sectors
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 10.0% 10.3% 12.0% 14.0% 14.7%
2012-13 10.4% 11.5% 12.0% 12.8% 13.8%
12%
10%
12% 12% 12% 12%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
Median Increments Across Levels
2011-12 2012-13
Pharmaceuticals, Healthcare & Life Sciences
Annual Increments Trends
The median increment in the Healthcare sector is at 12% for 2012-13
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 53
• Senior and Top Management have received the highest variable pay.
At the Junior level, employees/sales staff have received better
increments as the variable pay component makes up a lesser fraction
of their pay; although, the variable pay range is quite broad for Junior
levels
• Note: 4 companies in this sector did not have a Variable Pay scheme.
However, sales incentives were provided to the employees as is the
prevalent practice in this sector
Pharmaceuticals, Healthcare & Life Sciences
Variable Pay 2012-13
Top – Max; Bar – Median; Bottom – Min
Variable Pay has a wide range across levels; not necessarily a sector-wide practice
10.2% 15.0%
20.0% 20.0%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
Variable Pay (as % of CTC) Range
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<10 10-20 20-30 30-50 50-80 >80
% o
f C
om
pan
ies
Level-wise Frequency Distribution
JM
MM
SM
TM
• Among the companies that do give a Variable Pay, the majority
of the organizations gave variable pay to Junior, Middle and
Senior Management employees within the range of 10-20%
• The variable pay hovers between 10-15% for Middle
Management and between 10-12% for Junior Management
• This is also balanced with attractive sales incentives, especially
for Junior Management where it matters the most
• Senior Management variable pay % mainly hovered around
20%.
• Top Management has received Variable pay across several
ranges, however the median is at 20%
© 2012 Deloitte Touche Tohmatsu India Private Limited 54
• The sector median for variable pay % is 15%. This is below
the overall industry median variable pay % at 16.2%
• Across all levels, Variable pay (%) median for Top and
Senior Management is the maximum (20%) , followed by
Middle Management (15%), and then Junior Management
(10.2%)
• While the Median Variable Pay % across Junior, Middle and
Senior Management has remained almost constant since last
year, this has dropped considerably for Top Management this
year
• The variable pay for this sector is the lowest at Junior and
Middle Management levels
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 14% 16% 18% 21% 29%
2012-13 8.7% 9.5% 15% 16.5% 32%
11%
15%
20% 25%
20%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
Pharmaceuticals, Healthcare & Life Sciences
Variable Pay
Variable Pay % median for this sector is at 15%
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 55
• Retaining critical talent is of great
importance in this sector as information is
sensitive and organizations would not
want to lose employees and vital
information to competitors – especially in
the current environment in which the
sector is operating
• Engaging employees and hiring skilled
talent could also be indicative of a dearth
of qualified new talent pools that
organizations can tap into
• This indicates towards a significant
concern in the sector regarding the talent
practices and pinpoints an area where
organizations need to concentrate future
efforts in HR
Top 3 HR Challenges
1 Retaining Critical Talent
2 Engaging People
3 Hiring Skilled Talent
Key Reasons for Attrition
Better Pay
Personal Reasons
Better Career Opportunities
Cost Optimization Measures
Outsourcing / Offshoring
Setting up Shared Service Centers
Freeze on Company Travel
• At 25%, the Middle Management in the
Healthcare sector shows the highest
attrition rates across all sectors and levels
• Organizations in this sector have recorded
a decrease in the annual increment %
which may be one of the causes of the high
rank for “Better pay”
• The dynamic nature – especially of the
sales aspect of this sector – is also
responsible for high attrition and a high
rank to leaving for “Better Career
Opportunities” with “Better Pay”
• Pursuing further studies also ranks high as
a reason for attrition. Especially at Junior
Management level, the average profile of
sales staff would be that of a graduate
looking to pursue post-graduation or MBAs
• Among the above measures, Outsourcing/
Offshoring is the most preferred route that
companies prefer taking with the majority of
the participants selecting this option –
generally outsourcing payroll, leave and
other administrative activities
• This is followed by Setting up Shared
Service Centers – an option explored by
several key pharmaceutical companies – to
help focus on core activities
• Freezing on company travel is also another
option considered by some companies in
order to reduce costs. Organizations are
also considering moving towards video-
conferencing facilities and making tough
decisions on the extent of travel required by
their personnel
1
2
3
1
2
3
Pharmaceuticals, Healthcare & Life Sciences
Human Capital Trends
Sector Analysis: Financial Services
© 2012 Deloitte Touche Tohmatsu India Private Limited 57
The median increments in the sector is 10% in 2012-13,
2% points lower than overall industry median of 12%
Increments have been frozen across levels in some
participant companies in this sector
The median variable pay announced this year is 20%;
lower by 2% points compared to 22.3% in 2011-12
There is a marked decrease in the range of variable
payout; from 0-120% in 2011-12 to 10-80% in 2012-13
Skilled talent – hiring, retention and development is
critical is a priority for this sector
The sector noticed some strong cost optimization
measures like head count reduction, curtailment of
employee training and recognition program
Financial Services
Executive Summary
© 2012 Deloitte Touche Tohmatsu India Private Limited 58
Industry Overview
• The Financial Stability Report by RBI for December 2011 observes that the domestic financial
system remains stable in the face of an adverse international backdrop
• Rising incomes are driving the demand for financial services across income brackets
• Financial inclusion drive from Reserve Bank of India (RBI) has expanded the target market to
semi-urban and rural areas
• Ratings agency Moody's believe that strong deposit base of Indian lenders and Government's
persistent support to public sector and private banks would act as positive factors for the `64
trillion Indian banking industry amidst the negative global scenario
• Fitch Ratings says that the outlook on the major Indian NBFC sector is stable in 2012, but
remains cautious on the medium-term outlook of the sector in view of challenges in raising cost-
effective funding that may squeeze margins, impair growth prospects and increase the costs of
raising fresh capital
• In capital markets, asset management industry in India is among the fastest-growing in the world,
grown four fold in past 5 years
• The Indian Insurance sector is expected to reach around USD 400 billion in premium income by
2020
Key Challenges
• Slow down in GDP growth could have some downstream impact on asset quality
• Additional capital will need to be raised due to the compulsions of implementation of Basel III, a
growing (albeit at a potentially decelerated rate) economy and financial inclusion
Financial Services
Sector Snapshot
• The banking sector reported
a growth rate of 19% (CAGR)
over the last three years
• Bank loans registered a
growth of 16.4% in 2011-12,
while deposit growth stood
at 14%
• More than 80 per cent of
equipment leasing and hire
purchase activity in India is
financed by NBFCs
• The investable assets of
HNWIs in India has grown at
a healthy 26% CAGR over
2005-10
• FIIs have invested in stocks
and debt securities worth $ 9
billion in the fiscal 2011-12
• Over 2003-10, life insurance
premiums increased at a
CAGR of 25% and the non
life insurance premiums
increased at a CAGR of 18%
Performance Highlights
Source: www.sebi.gov.in; www.rbi.gov.in; IBEF report, Fitch Ratings
© 2012 Deloitte Touche Tohmatsu India Private Limited 59
Service wise Breakup Revenue wise Breakup Employee Strength wise Breakup
Financial Services
Participant Profile
• The Indian financial sector includes banks, non-banking financial companies(NBFCs), Capital Market and Insurance Companies. The
survey had a close to even mix of companies participating in it
• 61% of the participants have revenue more than ` 300 crore, a good representation of the industry at large
• The survey received participation of companies at various maturity levels, with 29% organizations with less than 500 employees,
followed by 21% of the participating organizations having employee strength of between 500-2000
25%
28% 16%
31%
Bank Capital Market
Insurance NBFC
17%
22%
9% 17%
35%
< 100 Cr. 100 - 300 Cr.
300 - 500 Cr. 500-1000 Cr.
> 1000 Cr.
29%
21% 18%
11%
14%
7%
< 500 500 - 2000
2000 - 5000 5000 - 10000
10000 - 25000 > 25000
Undisclosed Participants: 4 Undisclosed Participants: 3
© 2012 Deloitte Touche Tohmatsu India Private Limited 60
• The increments paid out in the Financial Services Sector
is 10%, 2% points lower than cross sector median of 12%
• Increments have been frozen across levels in many
participant companies in this sector
• Employees in the lower and middle management levels
will receive increments in the range of 8-12%; the highest
increment to be 16% given at junior management level
Top – Max; Bar – Median; Bottom - Min
• The spread in the increment range is seen highest at the senior
management levels; about 50% companies are giving out
marginal increments in the range of 5-8% of CTC
Financial Services
Annual Increment 2012-13
Increment Percentiles
Increment Range
10th 25th 50th 75th 90th
JM 8.1% 10.0% 10.0% 12.7% 15.0%
MM 7.6% 9.5% 10.0% 11.3% 12.4%
SM 7.1% 8.0% 10.0% 10.0% 12.2%
TM 5.4% 7.4% 9.3% 10.0% 11.0%
10.0% 10.0% 10.0% 9.3%
0%
10%
20%
30%
40%
50%
JM MM SM TM
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Pe
rce
nta
ge
of
Com
pa
nie
s
Range of Increments
Level-wise frequency distribution
JM
MM
SM
TM
The annual increments have been somber with few participants having decided against any increments
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 61
• 2011– 2012 was a relatively subdued year for the economy
with most of the companies treading on the side of caution
• The increments announced this year is substantially low by
3-4% points compared to last year, indicating less take
home for the employees
• Increments across cadres will reduce to the tune of 2%
points as compared to last year
• The increased regulatory influence in the western markets
is expected to have an impact on all payouts and
increments, particularly in the Indian Investment Banking
sector
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 10.0% 11.0% 12.5% 15.0% 18.2%
2012-13 7.6% 9.3% 10.0% 11.0% 12.9%
Financial Services
Annual Increment Trends
Median Increments Across Levels
12.5% 13.0%
12.0% 11.4%
10.0% 10.0% 10.0% 9.3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
Companies restricted increments for employees falling in the higher pay bracket; percentage to drop
significantly at the senior levels
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 62
• Majority of the companies gave variable pay in the range of 20-
25%; with few exceptions
• The variable pay in the banking sector, traditionally high, are
slowly being competitive to the industry practices
• The frequency of payout is generally annual, but there is a
growing trend of quarterly/biannual payouts particularly in junior
management levels in NBFCs to ensure higher engagement and
performance levels
Top – Max; Bar– Median; Bottom - Min
• Payout distinctly differs within business segments in financial
services such as Banking, Insurance, Capital markets and NBFCs
• An indicator of the high caution levels within the financial services
organizations, and an effort to bring in more accountability for
sustainable performance
Financial Services
Variable Pay 2012-13
Variable Pay (% CTC) Percentiles
Variable Pay (% CTC) Range
10th 25th 50th 75th 90th
JM 10.0% 11.5% 15.0% 22.5% 53%
MM 12.3% 14.8% 20.0% 31.3% 71%
SM 13.6% 16.5% 22.0% 26.3% 52%
TM 14.7% 20.5% 25.0% 30.0% 40%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
% o
f C
om
panie
s
Range of Variable Pay
Level-wise Frequency Distribution
JM
MM
SM
TM
15.0% 20.0% 22.0% 25.0%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
Variable Pay to be given across all levels with average payout to be around 20% to 25% of CTC
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 63
• With increased regulatory influence for real and sustained
profitability, the sector traditionally known for its aggressive
performance based pay policy, appears to mellow down and
align itself to common industry practices
• The variable pay announced this year is substantially low as
compared to last year
• Due to change in regulation, Private banks and Investment
Banks are looking to review their structure with regards to
component of Variable Pay to Fixed Pay as per levels (Ref.
Deloitte Study on Variable Pay in Investment Banks)
• There is a clear indication of some companies moving to a
more Fixed Pay structure with less dependence on the Variable
Pay component
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 3.0% 14.0% 22.3% 45.0% 74.0%
2012-13 13.1% 15.8% 20.0% 26.3% 48.0%
Financial Services
Variable Pay Trends
15.0%
20.0%
28.0%
38.0%
15.0%
20.0% 22.0%
25.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
The variable payouts in the current financial year will be bleak compared to last year as a result of uncertainty in
the global markets, particularly at senior levels
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 64
• In this sector, competent workforce is
critical to ensure margins in the intense
competition in the markets workforce
• Every competitor is looking for the highest
quality employee. Skilled talent – hiring,
retention and development is critical is a
priority for this sector
• The failure to hire and retain qualified
people is costly in a number of ways like
loss of training investment, loss of
valuable customer relationships and
intelligence et al
• There is also a need to develop potential
leaders to assume leadership positions in
the organization in the long term
Human Resource Challenges
1 Hiring talent
2 Retaining People
3 Training & development of potential leaders
Reasons for Attrition
Better pay
Better career options
Personal Reasons
Cost Optimization Measures
Outsourcing of certain services
Setting up Shared Services Centers
Freeze on company travel
Financial Services
Human Capital Trends
• The sector is heavily dependent on skilled
manpower, strong customer relationships
and efficient customer service
• A good employee is an asset to the
companies and every company in the
market is looking for the highest quality
employee
• Employees too exploit these opportunities
available in the market. Frequent job
changes are a common norm in this
sector, for better pay or career growth
• Improved work life balance, further studies
and better utilization of skill sets are some
other reasons for attrition identified in this
sector
• Outsourcing/ Offshoring is the most preferred
route with 60% of companies; includes
outsourcing payroll, leave and other
administrative activities
• Close second is Setting up Shared Service
Centers – an option explored by several key
sector companies – to help meet the tight
budget targets
• Travel has been restricted to only Senior and
Top management level or justified essential
business requirements only; cost reduction
measures include employees being
downgraded from Business to Economy class
travel
• This sector also noticed some strong cost
optimization measures like head count
reduction, curtailment of employee training
and recognition program
1
2
3
1
2
3
Sector Analysis Information Technology
© 2012 Deloitte Touche Tohmatsu India Private Limited 66
Information Technology
Executive Summary
The increments paid out in the Information
Technology Sector have been conservative this
year, reflecting the mood of the industry
The industry median for overall Annual
Increment % is 11%
The sector median for variable pay is 15.1%.
This is the same as the median for last year
Hiring of skilled talent has come up as a major
HR challenge being faced by the industry
© 2012 Deloitte Touche Tohmatsu India Private Limited 67
Industry Overview
• Over the years, Indian IT service offerings have evolved from application development and
maintenance, to emerge as full service players providing testing services, infrastructure
services, consulting and system integration
• Central to this strategy is the growing customer acceptance of Cloud-based solutions which offer
best in class services at reduced capital expenditure levels
• There has been a considerable pull in traditional segments – custom application development,
application management, IS outsourcing and software testing
• Increased acceptance from mature segments such as BFSI, US, and large corporations, and
emerging segments such as retail, healthcare, utilities, SMBs, Asia Pacific and RoW
• Industry re-tooling itself to adjust to rapid change in customer priorities – from SLAs to increased
time-to-market
• Emerging technologies – cloud computing, mobility, social media and big data/analytics
unleashing new opportunities for the industry
Key Challenges
• Economic Slowdown in west: Despite risk mitigation efforts from the organizations slow down
would effect IT negatively. IT, ITES has its revenue stream linked to the western markets
• Attrition and retention of talent is a big challenge faced by the industry
• Lack of trained people- The supply and demand of quality engineers who are capable is having a
huge gap
• IT services exports is the
fastest growing segment,
growing by 19 per cent in
FY2012, to account for exports
of USD 40 billion
• IT services is the fastest
growing segment in the Indian
domestic market, growing by 18
per cent to reach `589 billion,
driven by increasing focus by
service providers
• Over 73 per cent of the revenue
comes from the export market
• Top firm firms share around 35
per cent of total industry
revenue showing that the
market is fairly competitive
• Global IT offshore spending
expected to grow at CAGR of
6.2 per cent during FY08-13.
Performance Highlights
Information Technology
Sector Snapshot
Sources: Nasscom; Deloitte Reports
© 2012 Deloitte Touche Tohmatsu India Private Limited 68
14.3%
28.6%
14.3%
42.9%
Employee Strength
< 500 500 - 2000 2000 - 5000
5000 - 10000 10000 - 25000 > 25000
20.0%
80.0%
Annual Revenue wise Breakup
< 100 Cr. 100 - 300 Cr. 300 - 500 Cr.
500-1000 Cr. > 1000 Cr.
Undisclosed participants - 3 Undisclosed participants - 5
• Majority of the participants in the IT sector were organizations with an Annual Revenue of above 1000 Cr
• 43% of the participating organizations had an employee strength more than 25000 employees
Information Technology
Participant Profile
© 2012 Deloitte Touche Tohmatsu India Private Limited 69
• The industry median for overall Annual Increment % is 11%
• The range of increments is between 10 to 20 %. That is mostly due
to the difference in the maximum & minimum increments paid to
Junior and Top management
• Median for increments is highest for junior and middle
management, and lowest for top management
Top – Max; Bar – Median; Bottom – Min
• Majority of IT companies have given increments to all their
employees in the range of 10-12%, across all levels –Junior,
Middle, Senior & Top Management causing the overall
increments in this sector to remain relatively low
• Top Management increments across organizations have been
the lowest
• Economic slowdown in the West has impacted the overall
sentiment in India and this has reflected in overall lower
projections for the year
Information Technology
Annual Increments 2012-13
The increments paid out in the Information Technology Sector have been conservative this year, reflecting the
mood of the industry
12.0% 10.0% 10.0% 9.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Increment Range 2012-13
10th 25th 50th 75th 90th
JM 10.8% 12.0% 12.0% 12.7% 13.4%
MM 9.8% 10.0% 10.0% 12.0% 12.1%
SM 7.6% 9.0% 10.0% 10.5% 11.2%
TM 6.8% 8.0% 9.0% 10.0% 10.4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
Level wise Frequency Distribution
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
JM
MM
SM
TM
© 2012 Deloitte Touche Tohmatsu India Private Limited 70
• The industry Median for annual Increment is 11% and is
marginally lower than last year. The increments across cadres are
expected to reduce as compared to last year, pointing towards the
uncertain market sentiment
• While considering the overall scenario in IT, increments have
reduced at all percentiles. This is a trend observed in many other
sectors too
• The maximum drop in the annual increments for the levels is a 1.3
% point drop for middle management
• Senior management seems to be the only level which hasn‟t seen a
drop in increment from last year. This may indicate the increasing
focus of the companies towards their senior management and it
looks like they have been rewarded for their expertise and
organizations want to retain this cadre over the long term
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 10.9% 11.0% 12.0% 13.0% 14.2%
2012-13 8.9% 9.8% 11.0% 12.0% 13.3%
Information Technology
Annual Increments Trends
The increments paid out in the Information Technology Sector have been conservative this year, reflecting the
mood of the industry
Median Increments Across Levels
13.0%
11.3% 10.0% 10.0%
12.0%
10.0% 10.0%
9.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 71
• The overall median variable pay stands at 15.1%
• The variable pay ranges from less than 10 % to upto 50 %
across all levels, with Top and Senior management seeing the
maximum spread
• Senior and Top Management have received the highest variable
pay. For the middle levels too, the variable pay has been on the
higher side
Top – Max; Bar– Median; Bottom - Min
The average variable pay paid out in the IT Sector is 15%
• The spread of variable pay is highest for the top
management level
Information Technology
Variable Pay 2012-13
Variable Pay Percentiles
10th 25th 50th 75th 90th
JM 8.0% 10.0% 10.5% 13.5% 19.0%
MM 7.1% 10.0% 15.0% 22.5% 25.2%
SM 13.3% 15.0% 20.0% 28.0% 35.0%
TM 15.0% 17.5% 25.0% 40.0% 47.0%
11% 15% 20%
25%
0%
20%
40%
60%
80%
100%
120%
Variable Pay (as % of CTC) Range
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
Perc
enta
ge o
f C
om
panie
s
Range of Variable Pay
Level wise Frequency Distribution
JM
MM
SM
TM MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 72
• The sector median for variable pay % is 15.1%. This is
almost similar to last year‟s median, 15%
• Across all levels, Variable pay (%) median for Top
Management is the maximum (25%) , followed by Senior
Management (20%), and then Middle (15%) & Junior
Management (10.5%)
• Top Management level has received better variable pay as
compared to all other levels for the sector
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 7.3% 12.6% 15.0% 16.0% 22.2%
2012-13 8.4% 11.9% 15.1% 19.0% 27.5%
Information Technology
Variable Pay
The average variable pay paid out in the IT Sector is 15%
8%
11%
15%
22% 10.5% 15.0%
20.0%
25.0%
0%
10%
20%
30%
40%
50%
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 73
• The Top HR priorities for 2012-13 clearly
indicates the challenges that the industry
as a whole has been facing and need to
work on
• Hiring of skilled talent has come up as the
most critical challenge in this sector as
the industry is in a competitive mode and
with increase in the number of IT
companies in the industry, the fight for
best talent is greater than ever
• Training & Developing Potential Leaders
& Engaging employees come up as the
other two top concerns indicating the
concern areas where the firms need to put
in a dedicated efforts. Employees form the
basis of IT industry as it is a service
industry, training & developing employees
to keep them abreast thus forms a major
challenge
Top 3 HR Challenges
1 Hiring Skilled Talent
2 Training & Developing
3 Engaging People
Key Reasons for Attrition
Better Pay
Personal Reasons
Better utilization of current skills
Cost Optimization Measures
Outsourcing / Offshoring
Setting up Shared Service Centers
Reduction in Training Programs
• Most of the employees have given better
pay as the topmost reason to leave points
to increasing presence of MNCs with
better pay scales in the industry
• Better utilization of current skills is one of
the top attrition reasons
• Employees also leave organizations for
personal reasons like marriage, relocation
etc.
• Amongst all the above measures,
Outsourcing/Offshoring comes up the most
preferred way of cost optimizing
• Setting up of Shared Service Centers has
come up as the second most important
option being considered in order to reduce
costs
• Training programs form a huge part of the
cost for IT companies, thus, it has emerged
as one of the top three initiatives being
undertaken. Though this comes in contrast
to the fact that IT firms are also looking at
Training as an HR Challenge and want to
focus on the same
1
2
3
1
2
3
Information Technology
Human Capital Trends
Sector Analysis Information Technology Enabled Services
© 2012 Deloitte Touche Tohmatsu India Private Limited 75
Information Technology Enabled Services
Executive Summary
The median increments paid out in the Information
Technology Enabled Services Sector (12%) is
similar to overall industry increment (12%)
This is quite low as compared to last year’s median
(15.5%). The biggest drop in increments is seen at
the senior management level
The variable pay for ITES is the highest for the Top
management levels
The industry overall average variable pay % is
13.5%
Pursuing further studies and leaving organizations
due to better pay elsewhere has come up as one of
the major reasons for attrition
© 2012 Deloitte Touche Tohmatsu India Private Limited 76
Industry Overview
• In the last few years, the ITES segment has been focusing on re-engineering itself in order
to deliver transformational impact to customers. BPO firms are moving from efficiency to
effectiveness
• A „Verticalised‟ approach has been a key marketing strategy – developing in-depth
capabilities across the entire value chain in specific verticals
• Indian ITES firms are developing future-ready solutions – platform + cloud and creating
customer impact though service delivery excellence.
• They are also increasing their onshore and near-shore footprint to enable customer entry
into local markets
• Firms have also been actively implementing non-linear growth initiatives that ensure higher
realizations for service providers, while controlling costs, facilitating faster time-to-market
and improving satisfaction at the clients‟ end
Key Challenges
• Resource retention – Indian ITES sector has become an HR manager‟s nightmare.
• Unavailability of employable employees/ Lack of trained people- The supply and demand of
quality engineers who are capable of working in the ITES field is having a huge gap
• Economic slowdown – IT, ITES has its revenue stream linked to the western. A slow down
there would impact Indian ITES growth and it has been a concern with many companies.
• BPO exports expected to reach USD 16
billion in FY2012, growing by over 12 per
cent over FY2011
• Knowledge services segment growing in
significance; fastest growing among
BPO segments at over 15 per cent; has
pioneered outsourcing in areas such as
data analytics, data management and
legal services
• Data analytics is expected to grow 19 per
cent, much faster than BPO industry
average; key drivers include emergence
of analytic tools, rising volumes of data,
increased data-driven decision making
and emergence of on-demand models
• Domestic BPO segment is expected to
grow by 17 per cent in FY2012, to reach
`149 billion, driven by demand from
voice-based (including local language)
services and increasing adoption by both
traditional and emerging verticals,
including the government
Performance Highlights Information Technology Enabled Services
Sector Snapshot
Sources: Nasscom, Deloitte Reports
© 2012 Deloitte Touche Tohmatsu India Private Limited 77
50.0% 50.0%
Annual Revenue wise Breakup
< 100 Cr. 100 - 300 Cr. 300 - 500 Cr.
500-1000 Cr. > 1000 Cr.
14.3%
14.3%
28.6%
14.3%
28.6%
Employee Strength
< 500 500 - 2000 2000 - 5000
5000 - 10000 10000 - 25000 > 25000
Undisclosed participants - 0 Undisclosed participants - 3
• Almost all the participants in the Information Technology Enabled Services (ITES) sector were organizations with an Annual
Revenue of between `100-500 Cr
• 57% of the participating organizations had an employee strength of between 2000-5000 and greater than 25000 employees
Information Technology Enabled Services
Participant Profile
© 2012 Deloitte Touche Tohmatsu India Private Limited 78
• The median increment is expected to be 12% for the ITES
services, with majority of the organizations falling within the range
of 10 – 17%
• The range of increments does not vary much across management
levels
Top – Max; Bar – Median; Bottom – Min
• Overall, we see Junior and Middle Management receiving greater
increments as compared to the other levels
• The median increment for junior and middle management levels
is higher at 12% & 13%, whereas senior and top management
have median increment of 11% and 10% respectively
Information Technology Enabled Services
Annual Increments 2012-13
The average increments paid out in the Information Technology Enabled Services Sector (12%), similar to that
of overall industry increment (12%)
Increment Range 2012-13
12.0% 13.0% 11.0% 10.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
10th 25th 50th 75th 90th
JM 9.8% 10.0% 12.0% 15.5% 16.8%
MM 10.0% 10.5% 13.0% 14.8% 15.0%
SM 10.0% 10.0% 11.0% 12.8% 14.0%
TM 7.8% 8.5% 10.0% 10.0% 12.5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 > 25
Perc
enta
ge o
f C
om
panie
s
Range of Increments
Level wise Frequency Distribution
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
JM
MM
SM
TM
© 2012 Deloitte Touche Tohmatsu India Private Limited 79
• The industry Median for annual Increment % is 12%. This is
a significant drop compared to last year‟s median (15.5%)
• The increments given at 50th, 75th & 90th percentile drop
markedly if compared with increments given out last year . 10th
& 25th percentile doesn‟t show any change
• Median for Top management has remained similar to last
year‟s figure (10%)
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 9.8% 10.0% 15.5% 17.0% 18.0%
2012-13 9.8% 10.0% 12.0% 14.0% 15.0%
Information Technology Enabled Services
Annual Increments Trends
The average increments paid out in the Information Technology Enabled Services Sector (12%), similar to that
of cross sector increment (12%)
12.8%
15.5%
12.0%
10.0%
12.0% 13.0%
11.0% 10.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
Median Increments Across Levels
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 80
• The industry overall median variable pay % is around 13.5%
• Senior and Top Management have received the highest variable
pay. At the Junior level, employees/sales staff have received
better increments as the variable pay component makes up a
lesser fraction of their pay; although, the variable pay range is
quite broad for senior management level
Top – Max; Bar– Median; Bottom - Min
The variable pay is the highest for the Top management levels; Median variable pay % for Top Management
– 18.3%
• Majority of the companies gave their Senior Management
variable pay in the range of 10-22% but a large number were
concentrated from 15-20%
• Top Management has received varied Variable pay, however
the median is 18.3 %
Information Technology Enabled Services
Variable Pay 2012-13
Variable Pay Percentiles
10th 25th 50th 75th 90th
JM 10.0% 10.0% 10.0% 10.0% 11.5%
MM 11.0% 12.5% 15.0% 17.5% 19.0%
SM 12.5% 15.5% 18.5% 20.0% 21.3%
TM 15.0% 15.0% 18.3% 21.8% 22.2%
10.0% 15.0%
18.5% 18.3%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
Variable Pay (as % of CTC) Range
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
< 10 10 - 20 20 - 30 30 - 50 50 - 80 > 80
Perc
enta
ge o
f C
om
panie
s
Range of Variable Pay
Level wise Frequency Distribution
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
JM
MM
SM
TM
© 2012 Deloitte Touche Tohmatsu India Private Limited 81
• The sector median for variable pay % is 13.5%
• Across all levels, Variable pay (%) median for Senior
Management is the maximum (18.5%) , followed by Top
Management (18.3%), and then Middle Management (15%)
• The Median Variable Pay as a percentage of Cost To
Company (CTC) has dropped significantly across levels
10th Percentile 25th Percentile Median 75th Percentile 90th Percentile
2011-12 8.2% 12.0% 14.2% 17.5% 23.4%
2012-13 12.0% 12.0% 13.5% 15.0% 15.0%
Information Technology Enabled Services
Variable Pay
The variable pay is the highest for the Top management levels
15% 20%
25% 28%
10.0% 15.0%
18.5% 18.3%
0%
10%
20%
30%
40%
50%
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
MM JM TM SM
© 2012 Deloitte Touche Tohmatsu India Private Limited 82
• Hiring and Retaining employees is what is
plaguing the sector since the last few
years. Employee engagement is an
important area of focus with most
organizations investing in programs
targeting engagement levels
• To meet the hiring challenge, firms look
for graduates with good communication
skills, in large numbers, which poses a
challenge
• Employee engagement is an issue due to
odd working hours and monotonous work
• Retaining critical talent is a big challenge
in this sector as the employees switches
jobs frequently and also quits for further
studies
• The top focus areas recognized give a
clear road map as to the critical HR
challenges for the year which need to be
dedicatedly worked upon
Top 3 HR Challenges
1
Hiring Skilled Talent
2 Engaging People
3 Retaining Critical Talent
Key Reasons for Attrition
Personal Reasons
Better Pay
Pursue Further Studies
Cost Optimization Measures
Outsourcing / Offshoring
Headcount Reduction
Setting up Shared Service Centers
• ITES industry faces the highest attrition
across sectors
• Better career opportunities, further studies,
personal reasons are the most wide-spread
and important reasons for attrition in this
sector
• As most of the workforce employed in this
sector is young, mostly graduates, most of
them do opt for higher education after a few
years in the industry, thus forming one of
the important reasons for attrition
• It is a highly competitive market with
organization recruiting is sizeable numbers.
The same is causing a war for talent and
impacting pay. Relatively young workforce
leaving organizations for marginal increase
in pay levels
• Among the above measures, Outsourcing/
Offshoring has come up as the way most
preferred by companies to optimize cost
• This is closely followed by Headcount
Reduction given the large numbers
employed by this sector. ITES being a
service based industry employs large
number of people, thus most companies
during crunch period look at Headcount
reduction as one of the most feasible
options
• Though Shared Service Centers and
Outsourcing involve significant initial
investment but they are investments which
save huge costs in the long run
1
2
3
1
2
3
Information Technology Enabled Services
Human Capital Trends
Sector Analysis: Media & Advertisement
© 2012 Deloitte Touche Tohmatsu India Private Limited 84
Industry Overview
• Television is gaining more popularity than any other media, particularly with satellite
and cable television making deeper inroads in semi-urban and rural markets; the
advertisement spends on TV are expected to grow at around 12-14%
• The quality of the advertisement campaigns has improved over the years and the ad
agencies have become stronger business houses with innovative creativity as their
prime USP
• The traditional print media in India is still playing steady - holding on in this new age of
digital content, and will see expected growth in 2012
• The horizontal expansion of the newspapers will continue to grow by way of additional
supplements to the dailies in the form of pull-outs on finance, health, real estate,
entertainment etc.
• Social networking have emerged as capable of rewarding media companies with new
avenues of revenue for those who dare to explore the intricate web and stay on-line
with the emerging trends on these networks
Media & Advertisement
Sector Snapshot
• The Media & Entertainment industry registered a growth of 12 per cent in
2011 over 2010; TV accounted for `329 billion of revenues in 2011 and is
estimated to grow at a CAGR of 17 per cent over 2011-16
• Growing regional markets are driving the pace of print media that registered
a growth of 10 per cent in 2010 and is expected to follow the similar pace till
2015
• Advertising spends across all media accounted for 41 per cent of the overall
M&E industry revenues, aggregating to `300 billion while advertising
revenues witnessed a growth of 13 per cent in 2011
Performance Highlights
Source: Deloitte TMT Predictions Report 2011 & 2012; IBEF report
67%
33%
< 100 Cr. 100 - 300 Cr.
300 - 500 Cr. > 500 Cr.
45%
44%
11%
< 500 500 - 2000
2000 - 5000 >5000
Participant Profile
Revenue wise Breakup
Employee Strength wise Breakup
© 2012 Deloitte Touche Tohmatsu India Private Limited 85
• The annual increments announced for the sector in 2012-13
closely follow the industry trends
• The median increments paid out in the Media & Advertisement
sector in 2012-13 is 11%; a 1% points increase over last year
across levels
• The spread of the increment pay range has decreased as
compared to last year, with the highest increment paid out at
20% to the junior management level and the lowest increment of
5% announced at top management level
Top – Max; Bar – Median; Bottom - Min
Media & Advertisement
Annual Increments
Increment Range Increment Percentiles
10th 25th 50th 75th 90th
2011-12 5.0% 10.3% 10.0% 15.0% 15.9%
2012-13 8.0% 10.0% 11.0% 15.0% 15.4% 15.0% 15.0%
12.5% 12.5%
0%
10%
20%
30%
40%
50%
JM MM SM TM16.4%
16.0%
15.0% 15.0%
15.0% 15.0%
12.5% 12.5%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
Median Increments across Levels
The median increments paid out in the sector in 2012-13 is 11%; comparable to the cross sector trends
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 86
• The median variable pay for the sector is relatively low at
10.5% of CTC as compared to cross sector median pay of
16.2% of CTC
• The highest payout is expected to be at 38% at the Top
management level; few participants do not have variable pay
as a practice at junior management levels
• The variable pay across levels for the sector have shown
marginal or no change over last year
Top – Max; Bar – Median; Bottom - Min
Media & Advertisement
Variable Pay
Variable Pay (as % of CTC) Range Variable Pay Percentiles
10th 25th 50th 75th 90th
2011-12 3.0% 5.0% 11.0% 16.0% 20.0%
2012-13 5.0% 7.5% 10.5% 14.0% 21.2%
3.5%
9.0% 10.0%
15.0%
2.5% 7.0%
10.0%
15.0%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
2.5% 7.0% 10.0%
15.0%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
The median variable pay for the sector is relatively low when compared to cross sector median pay; a
considerable 5.5% points difference
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
Sector Analysis Energy
© 2012 Deloitte Touche Tohmatsu India Private Limited 88
Industry Overview
• India is the 5th largest consumer of energy in the world and is expected to rise to 3rd
by 2030
• Coal and Oil make up two-thirds of the total energy use in India
• Various policies brought in by the Government to encourage further investment
across the sector such as the New Exploration Licensing Policy (NELP) and Coal Bed
Methane (CBM) Policy
• India already has the world‟s fifth-largest wind power capacity, and the country is the
fifth-biggest market for wind-energy generation equipment in Asia. The sector is
expected to continue to expand
Key Challenges
• Power shortages and grid failures expected to remain common. Inadequate access to
energy of all kinds continue to hold back economic growth
• Pricing structure for power is unbalanced, leading to State Electricity Boards going
bankrupt – deterring increased investment from private sector when substantial
investments are actually needed
Energy
Sector Snapshot
• The petroleum and natural gas industry in India has attracted foreign
direct investment (FDI) worth USD 3,332.78 million during April 2000 to
December 2011
• Energy consumption in India to rise by an average of 5% a year during
2012-16 – a forecast of a slow growth rate for the industry. Consumption
of Natural Gas to grow faster than that of Oil
Performance Highlights
Source: IBEF; Department of Industrial Policy & Promotion (DIPP); Economist Intelligence Unit
Participant Profile
Revenue wise Breakup
Employee Strength wise Breakup
40%
60%
< 100 Cr. > 1000 Cr.
34%
33%
33%
< 500 500 - 2000 2000 - 5000
Undisclosed
participants - 2
Undisclosed
participants - 1
© 2012 Deloitte Touche Tohmatsu India Private Limited 89
• The median increments in this sector are at 13.8%
• The increments follow a general trend line of being higher for
Junior management and progressively becoming lower till Top
Management
• The spread of increments is greatest at Junior management level
• There is not much of a difference between increment levels
between last year and this year – indicating that the sector has
not faced much turbulence or exponential growth either
Top – Max; Bar – Median; Bottom - Min
Energy
Annual Increments
Increment Range Increment Percentiles
10th 25th 50th 75th 90th
2011-12 8.5% 12.3% 13.4% 13.8% 14.8%
2012-13 8.5% 12.4% 13.8% 14.0% 15.0%
12.5% 12.5% 12.5% 10.5%
0%
10%
20%
30%
40%
50%
JM MM SM TM
14.0% 14.0%
12.8%
10.7%
12.5% 12.5% 12.5%
10.5%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
JM MM SM TM
2011-12 2012-13
Median Increments Across Levels
Increment median for sector higher than cross-sector median; not very different from the previous year
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 90
• Variable pay % median for the sector is at 13.3%
• This is lower than the overall cross-sector median. However,
variable pay % has increased marginally at the 75th and 90th
percentiles
• Across levels, the variable pay % for Junior and Middle
management has increased
• For Top Management, this has reduced. This may be due to
slightly slower growth rates – a factor that has been forecasted to
continue in the coming years – leading to organizations
performing around or just below average levels
Top – Max; Bar – Median; Bottom - Min
Energy
Variable Pay
Variable Pay (as % of CTC) Range Variable Pay Percentiles
10th 25th 50th 75th 90th
2011-12 7% 11% 12.5% 15% 18%
2012-13 8.7% 10.8% 13.3% 15.9% 18.4%
12.3% 13.3% 14.8% 17.3%
0%
20%
40%
60%
80%
100%
120%
JM MM SM TM
7.6%
10.5%
15.0%
22.5%
12.3% 13.3% 14.8%
17.3%
0%
10%
20%
30%
40%
50%
JM MM SM TM
Median Annual Variable Pay (as % CTC)
2011-12 2012-13
Variable Pay has been conservative; has increased for Junior Management and reduced for Top Management
Please Note: JM – Junior Management; MM – Middle Management; SM – Senior Management; TM – Top Management
© 2012 Deloitte Touche Tohmatsu India Private Limited 91
Contents
Survey Highlights
Survey Details
Overall Industry Analysis
Detailed Sectoral Analysis
Participant List
© 2012 Deloitte Touche Tohmatsu India Private Limited 92
PARTICIPANTS‟ LIST
Serial No. Company
1 AAPC India Hotel Management Pvt.Ltd.
2 Accenture Services Pvt. Ltd.
3 Acnielsen Org-Marg Pvt.Ltd.
4 Aditi Technologies
5 Aditya Birla Finance Ltd.
6 Aditya Birla Retail Ltd.
7 Agfa India Pvt. Ltd.
8 Air Liquide Engineering India Pvt. Ltd.
9 Alere Medical Pvt.Ltd.
10 Aliens Group
11 Anand Rathi Group
12 Arvind Brands Limited
13 Ashiana Housing
14 Atlas Copco (India) Ltd.
Note: Six company names have not been disclosed based on client request
Serial No. Company
15 Axis Bank
16 B. Braun Medical India Pvt. Ltd.
17 Bangalore International Airport Limited
18 BASF India Limited
19 Bharti Walmart Private Limited
20 Binani Group
21 Biocon Ltd.
22 Bosch Limited
23 Brics Securities Limited
24 Cambridge Solutions Ltd.
25 Castrol India Ltd.
26 Clariant Chemicals (India) Limited
27 Continental Engines Limited
28 Cosmo Films Ltd.
© 2012 Deloitte Touche Tohmatsu India Private Limited 93
PARTICIPANTS‟ LIST
Serial No. Company
29 CRI Pumps Private Ltd.
30 Crimson Logic India Pvt. Ltd.
31 DDB Mudra Group
32 Deloitte Consulting India Pvt. Ltd.
33 Deutsche Bank (India)
34 DLF Pramerica Life Insurance Company Limited
35 Dr. Reddy's Laboratories (Pvt) Limited.
36 Emami Limited
37 Experian Credit Information Company of India Private
Limited
38 Fidelity Business Services India Private Limited
39 Financial Information Network & Operations Ltd.
40 Firstsource Solutions Limited
41 Fortune Financial Services(Ind) Ltd.
42 Fresh & Honest Café Ltd.
Note: Six company names have not been disclosed based on client request
Serial No. Company
43 Fullerton India Credit Company Limited
44 Future Generali India Life Insurance Co. Ltd.
45 Geojit BNP Paribas Financial Services Limited
46 GMR Group
47 Godrej & Boyce Manufacturing Company Limited
48 Grail Research
49 Grand Hyatt
50 Gujarat Heavy Chemicals Limited
51 Gupta Energy Private Ltd.
52 Gupta Global Resources Ltd.
53 Gupta Infrastructure India Pvt. Ltd.
54 GVK Power & Infrastructure Limited
55 HDB Financial Services Ltd
56 HDFC Bank Ltd.
© 2012 Deloitte Touche Tohmatsu India Private Limited 94
PARTICIPANTS‟ LIST
Serial No. Company
57 HDFC Standard Life Insurance Company Limited
58 Huntsman International (India) Private Ltd.
59 iGATE Patni
60 IL&FS Investment Managers Limited
61 Indraprastha Gas Limited
62 IndusInd Bank Limited
63 ING Vysya Bank Ltd.
64 Ingenero Technologies (India) Pvt. Ltd.
65 International Asset Reconstruction Company Private
Limited
66 International Speciality Products (india) Pvt. Ltd.
67 Kansai Nerolac paints Ltd.
68 Kodak India Pvt. Ltd.
69 Kongsberg Maritime India Private Limited
70 L&T Finance Limited
Note: Six company names have not been disclosed based on client request
Serial No. Company
71 L&T General Insurance Co. Ltd.
72 Leo Burnett
73 Lloyd's Register Asia
74 Lodha Group
75 Lonza India Pvt. Ltd.
76 LOREAL India Pvt. Ltd.
77 LT Foods Ltd.
78 Lupin Ltd.
79 Magma Fincorp Limited
80 Mahindra & Mahindra Financial Services Limited
81 Mahindra Holidays & Resorts India Ltd.
82 Marathon Realty Pvt. Ltd.
83 Marks and Spencer (India)
84 Mecklai Financial Services Ltd.
© 2012 Deloitte Touche Tohmatsu India Private Limited 95
PARTICIPANTS‟ LIST
Serial No. Company
85 Mercator Ltd.
86 Merck Limited
87 Metro Shoes Ltd.
88 Micro Turners I
89 Mizuho Corporate Bank Ltd.
90 Moser Baer India Ltd.
91 MSPL Limited
92 Mumbai International Airport Pvt. Ltd.
93 Nashik Vintners Pvt. Ltd.
94 NIIT Technologies Ltd.
95 Orchid Chemicals & Pharmaceuticals Ltd.
96 Pearson Education (India)
97 Pfizer India Ltd.
98 Pitti Laminations
Note: Six company names have not been disclosed based on client request
Serial No. Company
99 Polyplex Corporation Ltd.
100 Promed Exports Pvt. Ltd.
101 Quatrro Global Services Pvt. Ltd.
102 Rane Group
103 Royal Bank of Scotland
104 S M Creative Electronics Ltd.
105 Samsonite South Asia Pvt. Ltd.
106 Shapoorji Pallonji Group
107 Sharekhan
108 SKF India Limited
109 SMC Investments and Advisors Limited
110 Star India Private Limited
111 Stock Holding Corporation of India Ltd
112 Super Religare Laboratories Limited
© 2012 Deloitte Touche Tohmatsu India Private Limited 96
PARTICIPANTS‟ LIST
Serial No. Company
113 Sweta Estates Pvt. Ltd.
114 Syntel Limited
115 Synthite Industries Ltd.
116 Tahiliani Designs Pvt. Ltd.
117 Talisma Corporation Pvt. Ltd.
118 Tata Capital Ltd.
119 Tata Chemicals Ltd.
120 Tata Consultancy Services
121 Tata Housing Development Company Ltd.
122 Tata Power Company
123 Tata Services
124 TCS E-Serve Limited
125 The Great Eastern Shipping Company Limited
126 The Himalaya Drug Company
Note: Six company names have not been disclosed based on client request
Serial No. Company
127 Theorem Clinical Research
128 ThoughtWorks Technologies (India) Pvt Ltd.
129 V.I.P. Industries Limited
130 Vestas Wind Technology India Private Limited
131 Voltas Limited
132 Welpsun India Ltd.
133 Willis Processing Services (India) Pvt. Ltd.
134 Wipro Technologies
135 XLHealth Corporation India Private Limited
136 Zenta India Private Limited
96
© 2012 Deloitte Touche Tohmatsu India Private Limited 97
Key Contacts
Indrani Haldar
Consultant
Human Capital Advisory Services
Board: + 91 22 6619 8600, Mobile: +91 96191 57525
Email – ihaldar@deloitte.com
Mumal Singh
Consultant
Human Capital Advisory Services
Board: + 91 22 6619 8600, Mobile: +91 99302 19183
Email – mumalsingh@deloitte.com
Gaurav Warudi
Consultant
Human Capital Advisory Services
Board: + 91 22 6619 8600, Mobile: +91 98605 84841
Email – gwarudi@deloitte.com
Dr. Vishalli S Dongrie
Senior Director
Human Capital Advisory Services
Direct: +91 22 6619 8832, Mobile: +91 98339 73458
Email – vdongrie@deloitte.com
Priyanka Taranekar
Manager
Human Capital Advisory Services
Direct: + 91 22 6619 8813, Mobile: +91 98673 05893
Email – ptaranekar@deloitte.com
Roy Lobo
Senior Consultant
Human Capital Advisory Services
Direct: + 91 22 6619 8656, Mobile: +91 99209 14729
Email – roylobo@deloitte.com
Pooja Karopady
Senior Consultant
Human Capital Advisory Services
Board: + 91 22 6619 8600, Mobile: +91 98196 18761
Email – pkaropady@deloitte.com
P Thiruvengadam
National Practice Leader
Human Capital Advisory Services
Direct: +91 80 6627 6108
Email – pthiruvengadam@deloitte.com
©2012 Deloitte Touche Tohmatsu India Private Limited
.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent
entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
This material and the information contained herein prepared by Deloitte Touche Tohmatsu India Private Limited (DTTIPL) is intended to provide general information on a particular subject or subjects and is not
an exhaustive treatment of such subject(s). None of DTTIPL, Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this material,
rendering professional advice or services. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any decision or taking any
action that might affect your personal finances or business, you should consult a qualified professional adviser.
No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this material.
©2012 Deloitte Touche Tohmatsu India Private Limited. Member of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by
guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche
Tohmatsu Limited and its member firms.
This material and the information contained herein prepared by Deloitte Touche Tohmatsu India Private Limited (DTTIPL) is intended to provide general information on a particular subject or subjects and is not
an exhaustive treatment of such subject(s). None of DTTIPL, Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this material,
rendering professional advice or services. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any decision or taking any
action that might affect your personal finances or business, you should consult a qualified professional adviser.
No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this material.
©2012 Deloitte Touche Tohmatsu India Private Limited. Member of Deloitte Touche Tohmatsu Limited.