india's best companies to work for - 2013
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26th April, 2013
Mumbai
STUDY ON REWARDS AND RECOGNITION
KEY INFERENCES
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The Study 2013
Findings on Rewards
Findings on Recognition
Busting some Myths
1
3
4
5
Key Issues in R&R 2
Looking Ahead… 6
Flow
2
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Create awareness
Celebrate the Best
Ensure industry learning
Objectives of the Study – Year II
3
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Study Participation
4
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Construction, Infrastructure & Real Estate, 4%
Hospitality, 4%
Telecommunciations, 4%
Health Care, 5%
Professional Services, 5%
Manufacturing & Production, 15%
Financial Services &
Insurance, 16%
Information Technology,
33%
Other, 13%
Industries covered …
5
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Detailed submission of R&R programs & data
Employee Perception People Practices in R&R
Methodology
10
relevant
stateme
nts
6
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Key Issues in Rewards & Recognition
7
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What differentiates the Best from
the Rest?
Do they pay
more? No….
Our research shows that the
average salaries across levels
are only 2% higher for the Best
Companies
Rewards
8
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Once a threshold point is reached, internal equity is more effective than quantum of pay.
CEOs
OF
THE
BEST
CEOs
OF
THE
REST
Fresh
MBA
18 times
Fresh
MBA
26 times
Fresh
Graduate
26 times
Fresh
Graduate
46 times
Internal Equity
9
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87% of the Best
25% of the Rest
The Best are more inclined to track
anomalies in compensation and to change
them
Managing compensation anomalies
10
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A significantly higher percentage of the Top 15 give
incentives to non-sales and non-operations personnel.
87%
35%
BEST REST
Distribution of Rewards
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The Best in Rewards and Recognition
rely on significantly higher variable
pay, with higher differentiation.
12%
Average of maximum
increments are higher in
the Best companies from
supervisory to senior
management levels
Variable Pay as a differentiator
12
BEST
REST
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26%
13%
BEST REST
Stock Options across levels
13
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Recognition
14
Are frequency and
inclusiveness the biggest
drivers?
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Variety
Frequency
Parameters
BEST REST
80
%
55
%
73
%
18
%
53
%
13
%
The Best Companies do more…
15
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87% 87% 87% 80%
40%
67%
13%
27%
7%
63%
53% 58%
50%
20% 22%
5%
18%
5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Se
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r M
an
ag
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ad
of D
ep
art
me
nt
Imm
ed
iate
Su
perv
iso
r
Pe
ers
/Te
am
Me
mb
ers
Ju
nio
rs
Oth
er
De
pa
rme
nts
Ind
ustr
y, a
sso
cia
tio
np
ee
rs
Clie
nts
/Cu
sto
me
rs
Ve
ndo
rs/ B
usin
ess
Pa
rtn
ers
Top 15 in Rewards and Recognition Other Organizations.
BEST REST
Inclusiveness in recognition
16
The best involve a significantly
higher number of stakeholders in
recognition
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In Summary
17
Once a threshold point is reached, internal equity and distribution is more effective than only quantum of pay.
Greater variety, frequency and inclusiveness creates significantly higher impact in recognition
Rewards
Recognition
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– It needs a lot of financial investment!
– There is a limit to how much recognition is required!
– It takes up too much senior management time!
Busting some Myths
18
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Looking Ahead
Family involvement
Personalization of recognition programs
and Giftwork®
Extent of participation and feedback
Recognition for finding new performance
levels or innovation
19
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