Companies using higher salaries and attractive perks for retaining talents

IT, IteS, Telecom, and Banking are leading the pack when it comes to high salaries. BPOís and Contact Centers are using attractive salaries to retain their employees.

Chennai, India - 26th June 2006 ñ Kelly Services India today announced the release of its first Salary guide for India. The 2006 Salary guide gives a complete insight of current trend in the salaries structure in various industries and organisations. Brisk recruitment by organisations will continue for the rest of 2006 but there is increasingly unmatched demand for emerging skill sets, according to the India Salary Guide 2006 released by Kelly Services today.

Based on the information and trend data collected from the specialised operation units, and experience, from the dealings with the clients, both local and MNCs, Kelly Services, the global provider of staffing services and solutions, said that with a major boost in construction and manufacturing, high automobiles sales, and higher consumer spending, the overall recruitment outlook has been very encouraging. This has been reflected in the salaries and demand for talent.

The Kelly Services 2006 Salary Guide showed that there is a strong demand in the banking industry for entry level positions. The Call Centre industry is showing a greater employee churn and calling for organizations in this business sector to use attractive means to retain talent.

Based on the findings of the latest India Salary Guide 2006, with the splurge of malls, residential areas and corporate offices across the country, there has been a major rise in the demand of managers, officers, engineers and technicians.

IT, ITES, Telecom, Pharma are leading the pack when it comes to high salaries and instant job offers going through. The majority of companies in these sectors are in expanding mode and they need talent to support this expansion.

ìIndia reported the highest average salary increase at 13.9%, and employees in the Indian IT-enabled industry received the highest increase across all five groups surveyed at 17.9%. This increase is of no surprise and is the highest in India compared to rest of the Asia region since there has been heavy investment in India from global companies.î said Ms. Achal Khanna, Country General Manager, Kelly Services for India.

She added, ëIndia still maintains the competitive advantage for providing, the combination of the most cost-effective and high quality manpowerî.

ìGiven the current economic climate, companies need to pay added attention to their existing salary packages and compensation benefits because it will make a key difference in retaining good talent,î she added.

Kelly Servicesí 2006 Salary Guide studied 140 positions from entry-level to senior positions. The guide visited the traditional mainstay sectors like Banking, Call Centre, Engineering and Technical, Finance, Human Resources, Information Technology, Logistics and Warehousing, Office Support and Sales /Marketing /Advertising.

Ms. Achal comments ìThis survey is a good barometer for both employees and employers about where the job prospects are in India in the coming months. As a leading staffing services company in India, we are able to source for information from key human resources decision makers and uncover these trendsî.

ìThe survey is also a useful indicator to the market in so far as prospective employees can learn skill sets that would be useful to other sectors of the economy. At Kelly Services, we see this survey as one of the key tools for employers to attract and retain talent, which is the lifeline of any economyî, she said.

Some of the key findings of the guide include:

Banking & Finance: The banking industry is seeing great demand in the entry level positions. Bulk hiring is expected to continue for the next six to 12 months. There is a very high demand for experienced professionals to manage the wealth of high net-worth individuals as well as retail investors. Also, the hiring for niche back-end and operational positions continues to increase.

Call Centres: There is a huge requirement for experienced and English-speaking work force in the Call Centre industry which is resulting in greater employee churn, forcing companies to use attractive means to retain their talent

Engineering & Technical: Overall, the employment prospects lie in Real Estate, Manufacturing, Automotive and, Heavy Engineering. With demand exceeding supply, competition for talent is even more significant in 2006 compared with last year. Hence, employee retention is becoming a critical issue.

Information Technology: India’s software companies are expected to create 2.3 million jobs by 2010 and an additional 6.5 million indirectly. With huge demand in the offering, salaries are bound to go north. With various multinational and Indian organizations on major hiring spree, it will be talent which will be in shortage. And the salaries, perks and incentives can substantially rise up to 13-14%.

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