It is a pleasure to present to you our 19th edition of the Total Rewards Quarterly. Our editorial team has worked extra hard to ensure that we are able to bring to you this time, a wide range of topics that in its grand sweep covers almost all of the most topical conversations on HR across the country.
We are happy to present to you a summary of our findings from the 21st Annual Salary Increase Survey – an exercise that many of you contributed to, and has this year been able to generate some extremely incisive data from across a thousand participants. We released the media version of this in late February and it has been widely quoted that we believe that finally pay increases in India are ‘graying’. It is a twist of phrase to reflect both the slowing down of pay growth as well as a maturity in the overall process. Our analysis shows that while many industries and companies are being impacted by headwinds from local and international macros, there has been no kneejerk reaction – but a more considered and logical approach towards pay budgets. As a matter of fact, a lot of our conversations with companies and media were on the impact of demonetization on pay budgets – and while we don’t see a necessary correlation of the two, we thought it would be fit to present to you how some companies actually went out of their way to help employees tackle demonetization at its peak!
This edition also tries to tackle the other big question that we are being asked constantly – the role of technology and automation on the future of work and rewards. While we see this as a long cycle change, our article in this edition captures some of the more nuances that organizations need to be aware of. On the same token, we also invited our partner firm in the compensation technology space to speak about their experiences on how rewards technology is changing the landscape.
Our endeavor is increasingly to go beyond the numbers and bring out the stories that those numbers tell!
The editorial team and I will look forward to your thoughts, suggestions and feedback.
Partner – Talent & Rewards,
Aon Hewitt Consulting
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