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Managing and Rewarding Performance »
Rewards Special: Balancing Fixed, Variable and Long Term Pay
By Judhajit Das, Head - HR, ICICI Prudential Life Insurance
Feb 10th 2012
There are different policies being followed by organizations in terms of fixed and variable pay. Most organizations follow a basis of giving fixed pay bonus, variable pay and long term pay; some companies follow very high fixed pay, no bonus and selected long term pay, whereas some organizations choose to give sharper variable pay. Most insurance companies give, especially in the sales management area, fixed pay and performance incentives. Performance incentives are linked to individual perfor... Read more »
Rewards Special: Non-Cash Rewards
By Mark A. Szypko, CCP, GRP, KeneXa®
Feb 10th 2012
When we look at compensation, it has certainly increased from 2009, when the market bottomed out from a salary increase perspective. We conducted a global hi-tech salary survey and of the 115 different countries reporting in our increase budget section of the survey, in Q3 of 2011, only 5 reported a double digit increase and India was one of them. As we continue to emerge from the economic downturn, many organizations are curious to know when things are going to get back to “normal&rdquo... Read more »
Rewards Special: Measurability of Effectiveness
By Mohit Saxena, Founder and CEO, BenefitsPLUS
Feb 10th 2012
The R&R space is a very old space and has always been there, but not focused enough. The smallest of organizations have always incentivized their sales people. Compensation and benefits were more medical and related to tax savings, but now there is an increasing need for a professional intervention in the R&R background, which engages the entire organization. It becomes impossible for HR to do it alone and companies need a dedicated resource. They might tie up with few shops or do coup... Read more »
Rewards Special: Differentiation - The New Buzzword
By Nalin Singla, Global Head - Rewards, Ranbaxy Laboratories Limited
Feb 10th 2012
The growth story for India started about ten years ago with the technology boom. It was an excellent time as everyone was talking about more. There was a small bump in 2008 with the US realty meltdown, but as an economy we quickly got our act together and have been growing ever since, with the salary increments almost touching pre-2008 levels. The single biggest reason for this being, that the manpower costs in India traditionally have not been a major line item on the balance sheet, especial... Read more »
Rewards Special: Thought Leadership
By Paras Arora, Co-Founder & CEO, TriggerO
Feb 10th 2012
In the Indian diaspora, the basis of our business model is that we never invented something, which we felt was needed. The clients were in need of a certain solution and we created our models as per their needs. Companies have their rewards and recognition budgets and polices, but what they lack is an institutionalized framework and willingness from the top management. They have the budget but not the right people. They do not have innovative ideas and even if they have the ideas, they are not... Read more »
Rewards Special: Beyond Deals
By Mr. Partha Neog, CEO, The Deals Point
Feb 10th 2012
The definition of Total Rewards is presently more concentrated on rewards that are given on particular tasks and promotions in the form of redeemable vouchers. An organization is not giving extra special privileges if it is giving vouchers to its employees for traveling, shopping or dining. These are activities that they do in their daily life on a regular basis. Thedealspoint.com tries to bring additional value to it by giving employees extra benefits on their day-to-day needs and helps them ... Read more »
Rewards Special: Complete Digital Service
By Paul Shoker, Director & CEO, BenefitsPLUS
Feb 10th 2012
BenefitsPLUS was conceived in 2010 and has since then, been advising businesses on how to get opportunities, differentiate, manage cash, get into the market, etc. The concept arose out of the fact that even though Internet is being accessed by over 60 percent of employees in companies today, organizations are not really being able to implement their rewards and recognition programs effectively. There are no dedicated departments for this and the HR manager does not get the time to manage vario... Read more »
Rewards Special: Segmentation & Differentiation
By Puneet Swani ASEAN Business Leader Information Product Solutions, Mercer
Feb 10th 2012
In the coming year, there will be a clear focus on pay for performance, workforce segmentation and employee productivity. In terms of salary hikes, the double digit salary increase, which we witnessed some years ago, has lowered continuously. Today, salary increases in India are more in the range of 12-13 percent depending on the industry one belongs to. While salary increases will be seen across sectors, there will be a visible difference in the manner the increase is distributed. With lim... Read more »
Rewards Special: Rewards - A Part of Talent Management
By R. Sankar Executive Director, PwC
Feb 10th 2012
The year 2012 is going to be difficult for companies and this fortunately can be the best time for them to plan. In light of the present economic gloom, rewards are going to be most probably subdued and there might not be significant bonus payouts or increments. It will not be surprising if the average increase across levels remains a single digit, as there already are signs of subdued recruitment plans and companies are being cautious. This is also the right time for leadership in Indian comp... Read more »
Rewards Special: Peer Recognition & Visibility of Achievements
By Rohit Rawal, Co-Founder, QuadMo
Feb 10th 2012
The earlier notions of rewards and recognition are undergoing a significant transformation. Merely giving an employee a gift or merchandise is not generating the expected engagement, nor the return on investment as planned. Rewarded employees today primarily look out for a lot more peer recognition and especially direct visibility from their senior management. Employees also expect a much higher frequency of recognition and are not always satisfied waiting till the end of the quarter or the ye... Read more »
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