IT/BPO industry publish total compensation survey

In December 2010 SLASSCOM confirmed the appointment of PwC in order to carry out a salary and benefits study for the IT and BPO sector companies in Sri Lanka. To this end, SLASSCOM had taken the lead to encourage its members to confirm participation in the said study to be independently carried out by PwC.  

Organisations in IT/BPO sector today are laying a high degree of emphasis on getting high quality credible market insights to make informed HR decisions and to manage people which are their key value differentiators.

However, making meaningful talent and reward decisions in today’s competitive environment requires a comprehensive data source.

SLASSCOM-PwC Total Compensation Study has been launched to address this need of the industry.

The total number of participants represented in the survey is 28 and include companies engaged in both IT and BPO sectors. In-depth information and insights on compensation, benefits and practices in the IT and BPO industry was undertaken.  

The study offers a broad industry perspective, with participation from substantial number of small, medium and large organisations in the IT and BPO sectors.

The study results provide statistical information, including market mean, median and percentiles on surveyed job positions under each and every job family of both the sectors providing a platform for them to study the market for compensation and benefits and take decisions in a cost effective and relevant manner.

Sri Lanka’s Information Technology and its related sectors are maintaining a steady pace of growth and emerging as the fastest growing areas of the domestic economy in Sri Lanka.

Progressive organisations in this space are using comprehensive, efficient and cost effective HR practices to combat the business and HR challenges faced due to the stupendous growth that the industry has experienced.

With Sri Lanka’s escalating role in the IT and BPO sectors, people will be the key value differentiators that organisations may have to offer to their client. Hence it becomes imperative for organisations to attract, retain and motivate the right talent.

To achieve the same, organisations must offer a distinct value proposition to successfully attract talent. The right mix of culture and HR practices contributes to the above in a big way.

Compensation is most certainly a key driver in such situations.

The study covered different job families across IT and BPO sectors.

For the IT industry the engineering job groups were covered and analysis spanned over the job levels starting from entry-level software engineer up to business unit head across the following job families:

nIT consulting

nApplications software

nSystem software

nIT infrastructure/support

For the BPO industry operations different job group were covered and analysis spanned across the levels for operations starting from entry level associate up to the vice president level across the following job families:

nFinance and accounting operations

nCustomer care

nTransaction services

Job groups under shared services/internal support functions of both IT and BPO sector companies were covered and analysed.

The total compensation approach was adopted to the study to cover trends and best practices around compensation, benefits and people practices. Statistical analysis of base pay, fixed allowances, variable allowances, benefits and total compensation was presented in aggregate form.

Benefits benchmarking

The best-managed companies rely on the highest-quality market data to make decisions about competitive positioning.

Effective benefit decisions depend on having both the best data and benchmarking the industry best practices. Therefore our participant reports contained statistics of detailed benefit elements as well as an overall summary of benefits provided by comparator organisations.

The survey is available for sale at the SLASSCOM corporate office for inquiries please call 117884460.

SLASSCOM acts as the catalyst of growth for the Sri Lankan IT and BPO industry by facilitating trade and business, propagation of education and employment, encouragement of research and innovation, and by supporting the creation of a progressive national policy framework. Follow @SLASSCOM on twitter or visit www.slasscom.lkfor more information.

PricewaterhouseCoopers is one of the world’s largest professional services organisation. PwC firms provide industry focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

The Sri Lankan firm forms an integral part of PricewaterhouseCoopers’ global strategy and service delivery. PwC’s specialised services are delivered by teams organised around industry expertise. PwC’s global reputation as the leading professional services firm is matched in Sri Lanka.