The Hindu : Andhra Pradesh / Hyderabad News : Use innovative ways to retain talent, HR managers told

Online edition of India's National Newspaper
Wednesday, Apr 19, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

Use innovative ways to retain talent, HR managers told

Special Correspondent

Salary growth in India highest in the last two years, finds study

HYDERABAD: Speakers at a meeting of human resource best practices organised by the Nasscom stressed the need for the HR managers to seek innovative ways to harness and retain talent owing to the growing levels of attrition not only in the knowledge-based technology sector, but also in other verticals such as retail, marketing and BFSI. Making a presentation at "HR best Practices: Talent Management & Rewards", Hewitt Association Cluster Lead IT & ITES, Nitin Sethi, said a recent study had indicated that the salary growth was highest in India during the last two years at 14.1 per cent.

Trend to continue

This was against the salary growth of 8.1 per cent in Philippines, China (7.9 per cent), Korea (6.9 per cent), Thailand (6.4 per cent), Singapore and Taiwan (4.2 per cent). The trend was set to continue this year too where the IT sector salary was set to grow by about 13.7 per cent, and ITES and BPO growth to be by 15.5 to 16 per cent. Talent with 3 to 7 years experience emerged as the hottest property and this was one area that was witness to differential salary compensation. HSBC Global Resourcing India Human Resources head, Rajgopal Raghavan, said given the current attrition levels that varied from sector to sector and city of operation large corporations were faced with the task of developing a pipeline of talent, where a clear succession plan was drawn. The Head of HR Offerings Group of Satyam, Ratnesh Sharma, said one thing employers needed to understand was to learn from associates what they had in mind.

Printer friendly page
Send this article to Friends by E-Mail