Companies are reconsidering their compensation structures and benefits packages in an effort to retain top-performing employees.<\/p>\n
While attrition rates have stabilized across India Inc, organizations are reassessing variable pay, introducing more long-term incentives, and providing skilling initiatives to manage costs.<\/p>\n
Yokohama Rubber Co., a Japanese tire manufacturer, has discontinued variable pay at entry levels, and companies in various sectors are revising the criteria for organizational success in the variable pay of younger employees. Startups, on the other hand, are opting for more stock options and other long-term incentives rather than cash bonuses.<\/p>\n
Amidst rising wage costs as a percentage of revenue for IT giants like TCS, Wipro, and HCLTech in the first quarter of FY24, salary hikes have been moderated, and variable payouts have been reduced. However, there is a heightened emphasis on learning and skilling programs in AI\/ML to address attrition.<\/p>\n
Promotion cycles are increasingly tied to the growth of high-performing employees rather than their tenure of service. Nevertheless, attrition remains a challenge at the junior levels.<\/p>\n","protected":false},"excerpt":{"rendered":"
Companies are reconsidering their compensation structures and benefits packages in an effort to retain top-performing employees. While attrition rates have stabilized across India Inc, organizations are reassessing variable pay, introducing more long-term incentives, and providing skilling initiatives to manage costs. Yokohama Rubber Co., a Japanese tire manufacturer, has discontinued variable pay at entry levels, and companies in various sectors are revising the criteria for organizational success in the variable pay of younger employees. Startups, on the other hand, are opting for more stock options and other long-term incentives rather than cash bonuses. Amidst rising wage costs as a percentage of revenue for IT giants like TCS, Wipro, and HCLTech in the first quarter of FY24, salary hikes have been moderated, and variable payouts have been reduced. However, there is a heightened emphasis on learning and skilling programs in AI\/ML to address attrition. Promotion cycles are increasingly tied to the growth of high-performing employees rather than their tenure of service. Nevertheless, attrition remains a challenge at the junior levels.<\/p>\n","protected":false},"author":16,"featured_media":1889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t