AON Hewitt TRQ - Vol 5 Issue 2

India Volume 5 Issue 2
04
Stability in Volatility
Vinay Razdan
08
Public Sector Banks

More Bang for the Buck?
18
Health & Wellness Initiatives

A Win-Win Approach
Stephanie Pronk
The Skill is
Not Enough
whats inside
Dear Reader,
Total Rewards Quarterly
www.aon.com/india
cover story
12
The Skill is Not

Enough
As skills go through shorter
cycles, non-traditional rewards
delivery practices which infuse
funds to employees while
giving organization's flexibility
to move its investments are
gaining prominence.
Editor
Roopank Chaudhary
roopank.chaudhary@aonhewitt.com
Editorial Team
Manasi Jain
manasi.jain.2@aonhewitt.com
Sagorika Roy
sagorika.roy.2@aonhewitt.com
Marketing & Branding
Sushil Bhasin
sushil.bhasin@aonhewitt.com
Tel: +91 124 4155000
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Editorial Feedback
08
22
24
Design
Creative Inc. (www.creative-inc.in)
Total Rewards Quarterly is published
four times a year by Aon Hewitt
It gives me great pleasure to present to you the 15th edition of our Total
Rewards Quarterly. 15 is a special number for us this year we recently
completed the 15th year of our Best Employers Study and some months
back, the 15th year of our Salary Increase Survey. This year as a firm, we are
also completing 30 years of helping companies solve HR problems in India.
Statistically we have been around in India for more than the average age of
the working population of the country!
This is also a special edition for us as we cover themes from our Annual Rewards
Conference. This is an annual event where we ensure that we get to hear
from the best in the industry, and focus on driving a mature dialogue through
the course of this conference to enrich our participants as well as give us
better insights into what companies are thinking. We have been
noticing a new pattern in the world of rewards. At one level, new
age companies are pushing the compensation paradigm into totally
new territories. In parallel, companies in traditional industries are also
incorporating distinct changes in the way they look at Total Rewards.
Through two very diverse sectors technology and public sector banks, we
understand these non-traditional ways of looking at rewards practices.
Also, across most organizations, we are seeing far greater focus towards
driving better health and wellness for their employees and in a very
fundamental way, this shift is going to change the way employment
value proposition gets structured. An interview with our global expert,
Stephanie Pronk, explores this in detail. We are also happy to present
an interview with Vinay Razdan, the CHRO of Idea Cellular, which
explores how Idea is coping with the changing talent landscape.
We enjoyed putting this edition together and hope you will enjoy reading it.
Thank you.
Copyright 2015 Aon

Services India Pvt Ltd
Vinay Razdan
04
Public Sector Banks
08

A Win-Win Approach
Trend Check
Stephanie Pronk
2014 Consumer Health Mindset

A Global Perspective
18
24
The Aon Hewitt 8th Annual

Rewards Conference The
New Order of Rewards
Survey Calendar
22
26
Anandorup Ghose
Director Talent and Rewards,
Aon Hewitt
For more information, please write to us
at total.rewards@aonhewitt.com
Follow us on LinkedIn at Aon India & Twitter @Aon_India
TotalRewards quarterly
03
theinterview
been the fastest growing large

operator in the country. This focus
on people and successful execution
of our HR strategy has been a key
factor, amongst others, in enabling
our consistent business results.
Vinay Razdan, is the Chief Human

Resource Officer at Idea Cellular (An
Aditya Birla Group Company). Vinay
is a part of the Executive Committee
(EC) and Management Committee
(MC) at Idea Cellular.
He is a commerce graduate
from Delhi University and has a
postgraduate degree in PM & IR from
XLRI, Jamshedpur. He joined Idea in
January 2006, and has a total work
experience of over 25 years. Prior
to joining Idea, Vinay worked with
HCL Technologies as Associate Vice
President - HR for over five years and
with ITC Limited as HR Manager for
over 12 years.
Vinay Razdan
Chief Human Resource Officer, Idea

Cellular (An Aditya Birla Group Company)
Q. Idea has shown consistently stable company
performance over the last five years. Has your HR
strategy played a role in enabling business to achieve
such results in this dynamic sector?
A. Our HR strategy is to attract and retain the best talent,
encourage innovation, create an engaging and motivating
workplace environment and be an employer of choice.
04
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The HR strategy has been integral to achieving business

results. We have the lowest attrition in the sector, have
been ranked as the Best Employer in the sector in the
Great Place to Work survey in 2011 and 2013, and have
consistently had very high employee engagement scores. A
significant number of our recruitment happens via referrals
from our existing employees 32%. We have consistently
Q. What have been the three

key HR imperatives that
have helped you align with
the business strategy?
A. Focus at three different levels of
operation for the HR function has
helped us align with the business
strategy Brilliant Basics, Effective
Business Partnering and developing
Centers of Excellence.
Brilliant basics is a mantra we follow
being a part of the Aditya Birla Group,
and it means ensuring near zero error
in execution of our processes and a
delightful experience for all employees
in all people-related services. We set up
our centralized shared services for HR,
People Service Center five years ago in
2010. This helped us consolidate and
standardize the processes of varying
business operations. Idea has seen
many mergers and acquisitions in
its history so such consolidation was
necessary and it led to improvements in
speed and efficiency. The streamlining
of operations has been in line with
consolidation and centralization of
other business operations like service,
finance, analytics, etc.
The HR function has been
effectively partnering the business
with a special focus on launching
and propagating new business
streams like m-Commerce, Wi-Fi,
enterprise solutions, and business
transformation initiatives like
revamp of rural sales organization
and managing changes due to
regulation. Creating appropriate
staffing guidelines, effective talent
development and deployment and
tracking manpower productivity in

these areas ensures alignment with
business strategy.
Centers of Excellence ensure
creation of value for the business in a
manner that is in sync with the overall
strategy. Talent management with
the spirit of leaders at all levels, we
ensure a steady pipeline of right talent
in the right role at the right time.
We follow the overarching Aditya
Birla Group Talent Management
Framework. Capability development
ensuring employees have the skills
necessary to do their jobs well in the
face of dynamically changing business
requirements. Employee engagement
thorough analysis of engagement
scores at enterprise and team levels
and targeted and direct action
planning to work on improvement
areas which is tracked and measured
to lead to definite change.
Q. Sectors like telecom, oil and
gas, power, etc. are closely driven
by the constantly changing
regulations. Does this have any
implications on rewards for
your organization? If yes, how
have you designed your rewards
strategy to combat/buffer your
organization from these changes?
A. We have kept a certain amount of
flexibility in the rewards strategy in
anticipation of regulations that may
affect the business. We may revisit the
business performance criteria/goals
like target EBIT, gross service revenue,
etc., if necessitated by change in
regulation. These calls would be taken
to ensure that employees rewards are
not unduly impacted and good
performance is rewarded.
Q. With the evolving nature of
work, we see a growing demand of
hot skills in the industry. What
Brilliant basics is a
mantra we follow
being a part of
the Aditya Birla
Group, and it means
ensuring near zero
error in execution of
our processes and a
delightful experience
for all employees
rewards strategies have you

adopted to cater to these growing
demands?
A. In an environment that requires
large scale teamwork, all members
of the team contribute to the
overall output and each member is
dependent on the others for their
own output. Excessive differentiation
in terms of rewards can potentially
have a negative impact and needs
to be managed carefully. The key is
being sure of what you identify as
a 'hot skill' in your context. Having
said that, in the face of growing
requirements of some specific skills
and telecom competing with other
sectors, we would consider some
tweaking of our rewards strategy
going forward.
Q. The advent of new age industries
like e-Commerce organizations
has created a stiff competition for
different talent profiles. How has
your hiring strategy evolved to
keep pace with this change?
A. A robust talent management
process ensures that we are developing
our talent at all levels with a special
focus on top talent, allowing us to
have a healthy pipeline of successors
available in various roles. We have
05
We have kept a certain

amount of flexibility in
the rewards strategy
in anticipation of
regulations that may
affect the business
tweaked our talent management

strategy to deal with increased
competition in the talent market.
At the entry level, we have
ensured that our employee value
proposition (Rewards, Development,
Well-being and Career) allows us
to attract top talent from the best
institutes through our Young Leaders
Program. We have maintained
competitiveness not through just
compensation but through our overall
value proposition and have ensured
business requirements are being met.
Q. In an industry with varying
levels of outsourcing, do you put a
lens on productivity? If yes, how do
you measure it and how does this
productivity matrix impact your
compensation strategies?
A. There is a keen focus we have
on productivity, especially in the
three largest functions of networks,
sales and service delivery. Telecom
is a capex-intensive business and it
is important to ensure that we get
the necessary return on investment.
Network expansion plans, sales
targets and service metrics influence
our manpower requirements and
these requirements are established
basis productivity norms. The
Aditya Birla Group, as a whole,
has institutionalized an extensive
Strategic Workforce Planning
process and we are at the forefront
in terms of ensuring successful
06
www.aon.com/india
implementation and deriving

maximum output from the process.
Implementing Strategic Workforce
Planning ensures that business
drivers are translated into manpower
requirements down to the lowest
level. We are now in the process of
building systems to integrate these
outputs into all our HR processes
including our compensation strategy.
Q. Do you think benefits have seen
a resurgence recently? Also, what
kind of measures are you taking
beyond compensation to increase
engagement?
A. Our Employee Value Proposition
(EVP), which is the EVP of the
Aditya Birla Group as a whole, is
based on four pillars Rewards and
Recognition, Career, Training and
Development and Well-being. We
have a bouquet of benefits that fall
into these areas, all contributing to
increased engagement levels. We
have a rewards and recognition
framework that includes recognition
for individual and team excellence,
innovation and living our values.
It also includes spot recognition
and long service rewards. This is
an automated, online system. We
have a long-term incentive plan
in place enabling wealth creation
basis business results. Around career
dimension, we have an automated
process for employees to help build
their careers at Idea by enabling
career conversations and longterm career planning. Around
well-being, we have a variety of
work-life balance interventions and
special interest groups of employees
formed. A recent initiative was
Stepathlon devices were given to
certain sets of employees, including
women, to track their daily physical
activity and compete with others,
encouraging physical activity and

well-being. We are going beyond
just compensation through Total
Rewards which is the Aditya Birla
Group's rewards philosophy.
"Total Rewards Statements" (TRS )

An impactful approach to communicating your Total Rewards program
Our research suggests that a majority of companies are spending vast sums of money on complex Total Rewards
packages, which many employees do not fully understand or appreciate.
At Aon Hewitt, we believe that progressive organizations offer compelling rewards to employees. But the leverage of
these offers is lost if it is not communicated effectively to the employees.
Aon Hewitt's comprehensive and customized approach to communicating Total Rewards can help:
Enhance an employee's understanding of
rewards programs
Define and articulate all elements of rewards programs
Showcase the differentiation of rewards programs

from competitors
Enhance the appreciation of rewards programs
We have built a comprehensive and robust online portal that communicates your Total Rewards programs. This portal generates
unique and customized Total Rewards Statements for each employee, helping them see the value of their Total Rewards package.
Total Rewards Statements Showcase the value, build engagement.
For more information, please write to us at
total.rewardstaonhewitt.com
Follow us on LinkedIn at Aon India
& Twitter @Aon_India
For further details and queries, please write

to us at total.rewards@aonhewitt.com
Perspective
is four times that at private sector banks (5.85 years). This

article is an attempt to explore elements of pay practices in
public sector banks which give them a unique advantage
as employers and may remain unseen at first glance.
The Pay Paradox - Debunking the Myth

A. Quantum of Pay
At `9.5 lakh per annum, an average PSB employee
gets paid about 1.5 times higher than an average
private sector bank employee. At senior and top
management levels, pay lags significantly with respect
to private sector banks. However, these levels account
for less than 6% of the overall headcount of PSBs.
For majority of the headcount at junior and mid
management level, median cost to company at staterun banks is higher than that seen in private sector.
Public Sector Banks

Major banks should be not only socially-controlled, but
publicly-owned, announced Indira Gandhi on the eve of
the nationalization of banks in the Indian summer of 1969.
Indian policy making has come a long way since, with three
series of banking licenses and now talks of licenses on tap,
thanks to RBI Governor, Raghuram Rajan.
However, 46 years on, state-owned banks continue
to account for 77% of deposits and 76% of advances
of the banking sector. Touted to be the main reason
why Indias banking sector withered the storms of
the global financial crisis of 2009 rather gallantly, the
state-owned banks have held their own while foreign
banks went in out of fashion, and Indian private sector
banks made steady headway in both quantity as well
as quality. With their performance steadily improving
and as they continue to give their private counterparts a
consistent run for their money (no pun intended), what
08
www.aon.com/india
emerges as a bit of a paradox is their ability to compete

in the talent market. Given factors ranging from strong
unions, ownership and legacy, pay policies at public
Sector Banks (PSBs) have been at a peculiar variance as
compared to those seen in the private sector. After all,
institutions that make money by dealing in money have
always been known to drive employees through money!
So how would the state-owned super banks survive?
Usually, it is the large pay gap that PSBs have with the
private sector at the top management levels that grabs
the headlines. However, scratching beneath the surface
reveals that an average public sector bank employee is
rewarded competitively, especially considering the wide
gamut of benefits that are doled out. It is not really a
coincidence then that the PSB attrition number of less than
5% is significantly lower than banking attrition number of
14.9%. At 23.5 years, average tenure at public sector banks
Source: Aon Hewitt Research
Prima facie, the higher pay at junior management

level for public sector banks may seem contrary to
public perception. The answer to the gap between this
perception and reality lies in the composition of the pay.
B. Composition of Pay
Across levels of management, benefits and retirals

together account for a larger proportion of total pay at
public sector banks, as compared to that prevalent in the

private sector banks. Combined with relatively higher
entry level cash salaries, the benefits make total pay at
public sector banks competitive with respect to private
sector banks at junior and mid management levels.
Benefitting from Benefits

Public sector banks continue to offer the standard
benefits prevalent in private sector banks like home loans,
education loans, club membership provident fund and
gratuity. In addition, there is a plethora of other benefits
like scholarship for meritorious students, laptops/tablets,
subsidized canteens, company car and fuel which are not
universally prevalent in the private sector. Plus, there are a
host of benefits which truly tilt the balance. We cover five
such benefits as examples herein:
Pension: Although not granted to new employees,
this accounts for a substantial benefit for older
employees. The fact that pension is a defined benefit,
unlike provident fund (defined contribution) makes it
more attractive for the employees
Staff Quarters: Leading public sector banks provide
maintained staff quarters at locations across the country.
While the value of this benefit is difficult to cost, it is
usually higher than the HRA the employee would have
otherwise received. Furniture reimbursement is usually
provided along with the quarters
Medical Protection: Some public sector banks offer
an unlimited medical protection for employee as well
as dependents. In addition, the banks actually have
arrangements and tie-ups with hospitals across circles for
reservation of beds. Some banks extend this facility to
pensioners as well, which is perceived as a huge benefit
by the Gen X workforce prevalent in these banks
Holiday Homes: At least one public sector bank offers
holiday homes at popular hill stations and destinations
as a benefit to its employees
Reservation of School Seats: Some public sector banks
enter into tie-up with reputed schools at each circle
Given factors ranging from

strong unions, ownership and
legacy, pay policies at public
sector banks have been at a
peculiar variance as compared to
those seen in the private sector
09
Perspective
level for reservation of seats for children of the staff. This

greatly facilitates the frequent transfers that a public
sector employee encounters through his or her career
Other Non-Monetary Rewards

In addition to the benefits which can be valued in
monetary terms, public sector banks provide several nonmonetary relational rewards which are uniquely different
from the private sector. Four such non-monetary rewards
have been detailed out to emphasize their significance in
Total Rewards for a public sector bank employee:
Job Security: Other than on disciplinary grounds,
public sector banks have virtually zero involuntary attrition.
Compared to 4.5% of involuntary attrition in private banks,
job security stands out as a significant non-monetary
reward. This policy of job security remained unchanged for
public sector banks even at the height of the financial crisis
in 2009-10. The private sector, on the other hand, saw 13%
of the organizations implementing a headcount reduction.
Rotation: Imagine a career trail where a bank employee
gets to hone his or her skills through stints across foreign
exchange, treasury, retail and corporate operations, with
experience of working across all zones in India as well as
a stint in New York. Sounds tough to implement? Add to
that a stint in new business development, as a head of a
subsidiary and as a CFO and you will have a well-rounded
banker ready for the top role. This indeed is the career
trail of current CMD of a leading public sector bank.
Interestingly, such career paths at public sector banks
are more of norms than exceptions. In fact, job rotation
policy has been institutionalized as a part of career
progression, by making certain rotations mandatory for
promotions beyond a particular level. Such a policy on job
rotation leaves an employee richer both in terms of
capability and experience.
Training: Frequent role changes on account of rotation
necessitate role-based training in public sector banks.
Coupled with behavioral trainings, these courses account
for significant non-monetary people investments. A
leading public sector bank, for instance, provided training
to over 60% of its officer population in the previous fiscal.
At `9.5 lakh per annum, an

average PSB employee gets
paid about 1.5 times higher
than an average private
sector bank employee
10
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Work-life Balance: Public sector banks clearly trump

their private peers on this count. Further, they offer a
more liberal leave policy as compared to their private
peers, especially when accruals and caps are compared.
Summary List of Benefits

Staff Quarters
Company Car
Entertainment Expense
Medical
Unlimited
Driver
Compassionate
Appointment
Pension
Fuel
Sabbatical Policy
Provident Fund
Laptops/Tablets
Cleansing Expense/
Cleaning Material
Gratuity
Scholarships
for Children
Uniform (For
Certain Roles)
Education
Loans
Festival Advance
Subsidized Canteen
Home Loans
Holiday Homes
Ex-gratia Lumpsum
Newspapers
& Periodicals
Casual Labor
Kit Allowance For

Branch Heads
Advantages of Distinct Pay Practices

People advantages of benefits and non-monetary rewards
are visible. Compared to cash, they are more difficult to
replicate and match by the competition. Further, some
lifestyle benefits like club membership or staff quarters
in prime locations are difficult to cash out. Also, nonmonetary benefits prevalent in public sector banks like
liberal leave policy and job security help create a sense
of belonging.
It may be argued that benefits, though desirable,
may not be the most cost-effective way of delivering
compensation. Three illustrations show that benefits can
actually help lower costs for the employer:
Cost Advantages of Distinct Pay Practices

The Scale Advantage: As mass employers, bank can
procure/administer benefits for the employees at a
fraction of a cost that the employee would have to pay as
an individual.
E.g. Holiday homes: The annual cost of operating
holiday homes for one public sector bank is less than
`1,500 per eligible employee. A private holiday resort
membership for an individual would cost a significant
upfront amount in addition to annual charges.
The Increment Advantage: A Total Rewards structure
leaning more on non-monetary rewards ensures that the
total cost to company increases at a rate slower than cash
increments. This is because spends on non-monetary

rewards need to go up by the same amount.
E.g. It is quite possible that premium per employee
actually falls in the next year instead of growing at a rate
of increment. Similarly, it is quite possible that spend per
employee on training falls in the next year on account of
greater use of technology.
The Tax Advantage: The tax rules corresponding to
costing of certain perquisites enable significant tax savings.
Needless to say, non-monetary rewards like training and
paid time off are not taxed at all.
E.g. Company provided car: Specifically at senior
management, the maximum perquisite value that gets
added to taxable income is `2,400 per month. The value of
the benefit (depending on the car) is typically much higher.
These cost advantages, along with the obvious people
advantage of increased engagement, sense of belonging
and employee welfare help make benefits a strong
differentiating factor for public sector banks.
Pay Practices-Related Challenges

Benefits Administration: Administering benefits in
public sector banks involves significant effort, bandwidth
and time. One public sector bank has over 30 different
policy documents governing benefits. Further, given
the large headcount, even the exceptions and special
cases for these policies can run into thousands.
Automation of benefits administration coupled with use of
third-party administrators can help overcome this challenge.
Flexibility: A rupee received by an employee in the
form of cash may be valued more than a rupee received as
benefits, simply because cash offers the employee a choice
to spend it as per his or her preference.
This challenge can be partly overcome by offering a
flexible benefits basket, where an employee can allocate a
fixed budget to the benefits he or she values most.
Pay for Performance: A rather socialist approach to
pay has ensured that there is little incentive for higher
performance in public sector banks. On the other hand,
approach to job security has ensured that there is little
disincentive for non-performance. The absence of both
carrot and stick did create an unenviable challenge
of performance management for public sector banks.
However, positive changes on these fronts are evident
with leading public sector banks introducing robust
performance management and variable pay plans.
Communication: Relational elements of Total Rewards
like benefits and non-monetary rewards are less visible than
cash. An employee may therefore not always value and

appreciate their due worth. Communication of relational
rewards as important and valuable element of Total Rewards
is essential to help employees understand its value.
The Kings New Council

The question that still crops up time and again even in the
backdrop of a changing people and pay paradigm, 'Is cash
still the king' when it comes to the most impactful rewards
mechanism? Perhaps, yes. It will remain to be. However,
cash alone may not conquer the war for talent that both
new-age as well as traditional companies find themselves
enmeshed in. There are many other non-monetary rewards
that can and have created an impact across levels. This is
what the public sector banks also vindicate.
Due to differences in business imperatives and
nature of ownership and cost constraints, some of
the pay practices may not be replicable for private
sector banks. The study of pay practices at public sector
banks offers three irrefutable lessons for employers
across the board. Firstly, it establishes that welldesigned Total Rewards practices can create a unique
differentiator for the employer to attract and retain talent.
Secondly, a differentiated approach to pay practices
need not necessarily be more expensive. Finally, the
effectiveness of such a Total Rewards design can be
further enhanced by thoughtfully pre-empting and
addressing the challenges faced by public sector peers.
Cash may perhaps never go out of fashion and will
continue to be the most visible and virulent rewards system
that employers use to remunerate their employees. And while
cash may be king (of the good times and not so good times) it
can certainly work well with its new council of non-monetary
rewards to become a formidable fortress that can ring fence
top talent and enable companies to remain unscathed
as the war for people intensifies in the years to come.
Aditya Nanavaty
Senior Analyst,
McLagan, An Aon Company
Roopank Chaudhary
Associate Partner,
McLagan, An Aon Company
For more information, please write to us at total.rewards@aonhewitt.com

11
coverstory
The Times They are a Changing
The Skill is Not Enough
The technology space is going through interesting times

these days in India. Not only is it generating enough buzz to
keep providing daily news to the media, it is revolutionizing
the technology marketplace. On the back of Social,
Mobility, Analytics and Cloud (SMAC), technology
organizations are changing their roles from organizations
that can help optimize costs to organizations that can
help improve top line and shareholder return. With this
change, the audience that these technology organizations
are reaching out to is changing from the CIO or CTO
to the Chief Sales Officer or the CEO of organizations.
SMAC will be a platform that will enable organizations
to drive consumerization of technology. It will become
the new basis of competition, helping organizations
build new business and operating models, highlights
R Chandrasekaran, Group Chief Executive, Cognizant.
Gartner projects the worldwide spending in IT (in
USD) to go up by ~12% in the period between 2012-16,
roughly at about 3-3.5% a year. Aon Hewitt believes this
to be just half the story. What needs to be closely looked
at is the fact that there is a tremendous reallocation of
client spends moving away from traditional Application
Development and Maintenance (ADM) and Enterprise
Resource Planning (ERP) towards SMAC. Between social
media, mobility, analytics and cloud, the projected
growth rates are anywhere between 8-72% CAGR till 2016.
This is a tectonic shift that is gripping the technology
business across the world which is reducing the competitive
market space. If that wasnt enough, the rate at which
newer technologies are emerging is also increasing. Earlier
technology waves were longer and allowed organizations
that missed the wave to play catch up with the early
adopters. That trend is now changing. Five years ago,
technology cycles used to be seven years, which is now
down to three. My sense is this will soon hit the 18
months to 2-year time frame, points out TK Kurien,
CEO, Wipro. The real impact of that would be the fact
that if organizations miss a technology wave, playing
catch up no longer makes sense, for most organizations,
the focus would then be to identify and become an early
adopter of the next wave of technology. Quoting Dylan
For the loser now will be later to win seems to be the
mantra of the new age of technology that is upon us!
Talent Imperatives in the Time of SMAC
differently from how they have done in the past. Aon

Hewitt conducted a research with some of the largest
system integrators in India to assess an organizations
talent and rewards management journey, as the
organization moves from one business/technology
lifecycle to another. The research uncovered a consistent
trend in the way the talent dynamics evolve in an
organization as they look at adapting to emerging
business/technology lifecycle progresses. The research
presented three broad ways organizations look at scaling
up headcount for emerging businesses. Build Talent:
Predominantly used by the pioneers of the technology
waves, the success of the strategy depends solely on the
ability to either spot or dictate the way the technology
landscape will change and then undertake massive
reskilling programs through isolated incubation hubs
to have talent that can service the new landscape.
1. Buy Talent: Often used by the organizations
that missed the technology boat so to say, the
focus is to tap organizations that spearheaded
the change and attract talent through
monetary and non-monetary means to build
your own service offering at whatever cost.
2. Seed Talent: A newer and fairly more interesting
way of managing growth that blends the above two
approaches. It buys talent at only the critical levels
however, for the rank and file, it uses the bought
talent to then build a workforce that can deliver on
newer technology. We see this consistently being
used in organizations that though werent the first to
spot an emerging technology wave or build market
consensus around it, they were early adopters
none the less. The blended talent management
approach gives the organization a much needed
fillip and helps it play catch-up with the pioneers.
There is a tectonic shift

that is gripping the
technology business
across the world and is
reducing the competitive
market space
Given the dynamic nature of the landscape, organizations

are looking at upskilling, maintaining and reskilling talent
12
www.aon.com/india
13
coverstory
With technology cycles becoming

much shorter, positioning
employees at the higher end of
the spectrum just on the basis of
skill and skill proficiency will lead
to organizations not being able
to gradually reduce the cost of
skills which are cooling down
Traditional Rewards Management: Why it

Wont Work?
Traditionally, organizations have used the pay range to
position skills with a demand supply mismatch at the
higher end of the range. With technology cycles panning
over considerable time frames, this let organizations hire
and manage talent towards the max of the range while
allowing for gradual deceleration as the technologies
cooled down. Organizations that were innovators
would train resources on the emerging technologies
and accelerate their positioning in the range through
disproportionate funding of base pay increases as skill
proficiency and business demand increased. Organizations
that looked to buy talent would position talent in the
higher end of the range and continue to increase exit
barriers through higher than average increases to these
groups. Given range spreads of greater than 100% from
commoditized skills to super hot skills in the market and
the long gestation period of technologies in the past, the
approach of increasing base pay has worked to a fairly
large extent in the past. However, now with technology
14
www.aon.com/india
cycles becoming much shorter, positioning employees

at the higher end of the spectrum just on the basis of
skill and skill proficiency will lead to organizations not
being able to gradually reduce the cost of skills which are
cooling down and ramp up costs for skills which are
heating up.
Skill Premiums Baked into Base Pay
skills. Even though the individuals were being trained

in hot skills, there hadnt been enough differentiation
built into the system yet from a pay perspective which
tends to build over a period of time.
e-Commerce Skill Premiums
Citius Altius Fortius

Given the below dichotomies
1. Hot skills in the market have significant premiums
2. Rate at which skills become hot and cool down is
increasing dramatically
3. Technology lifecycles will not allow you to ramp up/
ramp down employee costs over a period of time
The need of the hour is to look at more non-traditional
rewards delivery practices which can infuse funds in the
right pockets of the employee population while giving
the organization the flexibility and agility to move its
investments from one area to the other based on market
demand and supply of skills. Some early adopters of this
thought have moved towards incorporating skill-based
compensation programs which are based on the demand
and supply of skills and are over and above the base
compensation of the employee. Essentially organizations
are designing a STI program for employees with niche
skills that reward the employee as long as the market is
willing to pay a premium for the skills.
From a pure affordability and expense perspective, it
allows the organizations to be fairly agile in determining
which pockets of the employee population need
differentiated investments while at the same time not
increasing the carry forward costs for employee groups.
However, it is not as simple as it sounds, organizations
need to embark on a significant change management
journey to ensure that employees do not perceive it as an
entitlement and organization can retain the right and the
ability to remove the skill bonuses at their discretion.

Skill Based Allowances
PayJust for the Skill or Also for the

Proficiency?
Most organizations Aon Hewitt spoke to, on how they
differentiate employees compensation based on skill,
suggested that there were no conscious level based
differentiations that they applied. In other words, if they
deemed a skill to be hot, they were willing to provide a
premium to employees at all levels uniformly. Aon Hewitt
carried out a quantitative survey on the pay differentials
that exist for digital skills across major system integrators
that predominantly build talent and were early adopters/
innovators in the digital space.
What was surprising was that across these
organizations, there was a clear differentiation on the
skill premiums being provided to employees by level,
which was contrary to the stated objective they were
running. Across all the major skill groups, it is very
clear that the skill differentiation at the entry level was
minimal, perhaps signifying the fact that most of these
organizations hire a common pool of resources at the
bottom of the pyramid and deploy them across different
Most interestingly, we see the skill based differentiation

peak at the senior individual contributor levels where
you would expect large scale technology specialization.
These organizations were building towards increasing
the employees exit barrier as the proficiency levels of
the employees increase. Surprisingly, after a certain
level in the hierarchy the increasing trend of higher skill
differentiation disappears. This is predominantly based
on the fact that in large system integrators, the higher
levels have a greater supply of business managers
and project managers than technology specialists.
However, given the intent that has been shared by
multiple system integrators in public forums, the clear
intent is to increase the no. of technology specialists
that exist in the organization at the cost of the general
managers. As we see this trend gain momentum, Aon
Hewitts point of view is that as these organizations
build technology specialists, the trend of skill premiums
increasing with hierarchy would become a lot
stronger and would have much higher correlation.
Analytics Skill Premiums
15
Organizations would need to invest

in being able to track employees
not just at a department or job
family level but at a skill level to
ensure that the funding available
is being directed to the right place
Putting it All Together... Where are We

Headed?
With the technology landscape changing at a dramatic
pace and with technology lifecycles becoming shorter,
it becomes imperative for technology organizations to
be able to monitor the spread of their employee cost
across different skills and be able to proactively realign
themselves to the dynamic marketplace. Organizations
would need to invest in being able to track employees
not just at a department or job family level but at a
skill level to ensure that the available funding is being
directed to the right place. The way organizations look
to secure market information will also need to change
dramatically by focusing on more micro segregation
of employees, i.e. at a skill level rather than at the
job family level. Lastly, organizations need to balance
their talent management imperatives with how they
reward niche skills. The approach of one size fits all
may not be relevant or feasible in the world of skills.
Organizations need to identify levels in the pyramid
which bring distinctive client value and look at ringfencing them rather than increasing the cost of these
skills across the board. At Aon Hewitt, we believe that
for organizations to be successful in this new world,
they would need to be able to monitor data at the skill
level while building in alternative ways of compensating
employees with niche skills to ensure easy/effortless
reallocation of costs as the client landscape changes.
Anirban Gupta
Senior Consultant,
Aon Hewitt
Chetna Arora
Consultant,
Aon Hewitt
For more information, please write to us at total.rewards@aonhewitt.com

16
www.aon.com/india
ASKOUREXPERT
and brightest of people at work and

making sure they are at their optimal
health.
Stephanie Pronk is a Senior Vice

President and leads Aons US National
Health Transformation Team.
Stephanie combines more than 28
years of experience in developing,
implementing and evaluating
health improvement and benefit
strategies while using the power of
data analytics to provide evidencebased health solutions for clients that
improve health and productivity while
positively impacting the bottom line.
Stephanie holds a bachelors degree
in physical education and health
from Hastings College and a masters
degree in health education from the
University of Nebraska at Kearney
(formally Kearney State College).
Emphasis in both degrees included
exercise physiology and health.
Stephanie has published in various
professional health journals and is
a featured speaker at national and
global conferences in the area of
health and healthcare management.

A Win-Win Approach
Q. In the recent past, organizations
have started focusing on health
and wellness initiatives. Why do
you think has this become a top
concern for HR leaders globally?
A. The health of the global
population has changed and there
are increasing health risks which
18
www.aon.com/india
lead to increase in healthcare and

disability-related costs as well as
absenteeism and impact on job
performance. Organizations are
looking to create a healthy and high
performing workforce. This includes
well-being in terms of how people
respond from an emotional and
mental perspective, as well as from

a financial standpoint how happy
and productive they are at work. It
is becoming a business imperative
and while different organizations will
have different needs, from a bottom
line perspective, everyone wants
that advantage to have the best
Q. Apart from the basic practices

like annual health check-ups and
reimbursements, can you throw
some light on different initiatives
that can be covered under health
and wellness?
A. Setting up a successful health
program requires an organization to
go through four stages. There are
different initiatives for each step.
First is Building Awareness amongst
their population on health risks they
are susceptible to and the impact on
individuals as well as the organization.
Usually it is this awareness phase that
organizations do not move out of.
This phase includes initiatives like a
health assessment program to identify
risk, a biometric screening to look at
health values like cholesterol levels
or weight or blood pressure and also
assessments of mental health and
depression, etc. There are multiple
kinds of assessments that can be
done within a population to build
awareness. Unfortunately, a lot of
organizations stop there. They dont
take the next step which is what
can we do to help people change
their behaviors that identify that risk.
We call it the Action and Behavior
Change Phase. One should put
in initiatives which work from an
organizations as well as individual
standpoint in terms of changing
the behaviors. For example, in an
organization where people are
seated all day, a message promoting
walking and physical activity can be
conflicting. The organization also
has to introduce initiatives which
promote physical activity at work to
ensure that it is not just an empty
message. Initiatives like standing
workstations, walking treadmills, etc.

ensure that from a behavior change
standpoint the organization isnt
asking people to do certain things
but not giving them the right tools
and resources to accomplish that in
their workday as well. It is not about
the individual making the change
but also about looking at what the
organization can do from a culture
and work environment perspective
to support the behavior change.
The last phase is Sustaining
the Change. Many organizations
institute a walking program challenge
which usually lasts 12 weeks, but at
the end of the 12 weeks, how these
organizations sustain these behaviors
is a key question. All three phases
are incredibly important in creating
the atmosphere where people can
actually improve their physical health,
exercise more and be resilient from a
stress standpoint.
Q. What are the key results
derived through implementation
of health & wellness programs in
an organization? Also, how do
organizations measure the return
on wellness programs?
A. Across the many clients that we
have worked with, the consistent key
results that we have seen is that with
improved health, people engage
more with their employer. So, the
healthier you are, the more engaged
you are with the workforce and as
a result your work performance
improves. While there are linkages to
reduced absenteeism and reduction
in healthcare costs, these results
typically take some time and dont
show effect immediately. But we
do know that people, who engage,
become more active, are healthier,
less stressed and cost less money,
even if they started out at a higher
cost! There is always the question

if there is any direct correlation on
business. There are practices and
metrics to measure these programs.
There are processes which capture
the participation and number of
people engaging in the program.
There are impact reports to see if
health behaviors are changing, and
if there is a change in attitudes,
and then obviously there is the final
yardstick that organizations look
at like absenteeism, productivity,
healthcare product costs and costs of
these programs.
We are slowly moving away
from solely looking at internal
investment on these programs and
looking at value-added investments
and recognizing the fact that
organizational behavior change take
some time and hence, it is prudent
to look at the value of the investment
from a different standpoint. For
example, if an organization observes
that their employees are working
better together, it implies they are
more productive. Such a result
may be visible long before there
is a reduction in the healthcare
cost. Tangible things may be very
difficult to measure immediately,
but there are visible effects on the
workforce, since these physical
activities and challenges will bring
Setting up a
successful health
program requires
an organization
to go through four
stages. Usually it is
this awareness phase
that organizations
do not move out of
19
ASKOUREXPERT
people together in a different way

since they achieve results as a team.
Q. What are the typical steps
involved in designing a corporate
wellness program?
A. Typically from a consulting
perspective, we have four phases
first part is Discovery Phase where
the available data and information
is analyzed to create evidence-based
approach by using the employer
data and analyzing it from health
and business standpoint. We start
by looking at current initiatives in
an organization whether in-house
or through external vendors or
community programs. By analyzing
all possible sources of information,
we do a current state as-is analysis
and then identify the things most
important to an organization going
forward to improve the health of its
employee population. Again, the key
there is not doing what the company
next door does, but looking at what
it is that your organization needs.
It is not any different from making
conscious business decision to buy a
new equipment or new product line
or acquire a new business. There has
to be concentrated focus to collect
It is not about
individual making the
change but also about
looking at what the
organization can do
from a culture and
work environment
perspective to support
the behavior change
20
www.aon.com/india
the data and build a business case to

why the initiative will help the firm.
The second phase is Develop
and Design. This phase takes up
all the information collected in the
discovery phase and then utilized it
to plan from a strategy and tactical
plan standpoint. At this stage, the
business case is presented to the
senior leadership and the strategic
direction and the tactics that will
follow both from individual and
organization standpoint to actually
make a difference are decided.
Then we move on to the
Deliberate Stage where we find the
right vendor partner to deliver the
program or identify the right people
internally to deliver this program.
This stage includes steps like
identifying the right kind of models
to drive the tactical plan, planning
the communication and marketing
strategy. The last stage is to look
at Evaluating the Program to
ensure there are results in the right
direction and identify the things that
need to be tweaked to achieve high
results. We found that by using data
and getting focused on two or three
behaviors, we are able to see
positive focused results.
Q. What do you think are the top
constraints/challenges faced while
implementing these programs?
A. While data is always an issue, we
are very fortunate to have a very
strong database across the country
on the health of a population.
Many times the business case is a
very important stage because there
will always be people who will
question the connection of health
of an individual to the health of an
organization, and yes there will be
skeptics who will say the health of
my employees is my agenda and I
dont need an external persons help

in it. There are these smaller issues
but there are no major barriers. There
will always be a certain part of the
employee population who will not
participate in these initiatives and
that is unfortunate for them, but that
is a chance an organization needs to
take. The other aspect is looking at
how to incorporate healthy practices
in the workplace. People today dont
have a lot of time so it would be ideal
if organizations can create a culture
of work environment where healthy
habits such as taking the stairs or
eating healthy or de-stressing are
all a part of the work environment.
All these things if included in a
workday tend to eliminate any
type of barriers because now it
becomes a part of the daily job.
Q. What has been the appeal
of these wellness programs
across the varied workforce
demographics i.e. traditionalists,
baby boomers, Gen X, Y & Z?
A. There is this perception that
younger workforce is healthier but
recent health surveys have proved
otherwise. The younger people
are coming into the workforce
with issues like obesity, high blood
pressure, hearth diseases, diabetes
and so forth. Such issues now start
at very young ages primarily due to
child obesity and inactivity. Whereas
traditionalists and baby boomers
entered the workforce healthy but
developed these issues as they
aged. So it will actually be wrong
to say that a younger workforce is
equivalent to a healthier workforce.
The way organizations deliver the
program needs to be very different
between generations. For example,
a technology company primarily
has average employee age as 32
but the majority of the population is

in 20s. So the approach to getting
people to pay attention to their
health will need to be different. Baby
boomers would want to do things
that keep them young so they would
participate in these programs more
enthusiastically. However, they are
not technology-savvy as younger
people, so organizations will have to
build in special environment to keep
these people engaged. While the
health issues are the same even with
younger people coming in, but how
these programs are delivered to keep
their attention will be very different.
also become predominant. It is

obviously challenging but there
is an opportunity to be able to
create an impact as well.
I think adopting such initiatives
is a win-win approach. It helps the
individual as well as impacts the
organization in a positive and
productive way.
People today dont

have a lot of time so
it would be ideal if
organizations can
create a culture of
work environment
where healthy habits
such as taking the
stairs or eating
healthy or de-stressing
are all a part of the
work environment
Q. Have you observed any specific

industry where the adoption rate
of these initiatives has been higher
in comparison to other sectors?
A. 10 years ago, I would have been
able to tell you there are specific
industries in the US, but today
it spreads across every industry.
Organizations across each sector
are interested in creating a healthy
population. Specifically in the US,
it started with the manufacturing
environment which was also due to
the safety practices. But increasingly,
these programs are spreading
across all industries. In developing
countries, organizations have just
started to discuss these initiatives
and these will definitely pick up.
Q. Is there any difference in setting
up these programs in developed
vs. developing countries?
A. Developing countries are
actually at an interesting stage
right now. Historically, they only
had to combat public health
issues like diseases on a national
level. But now with globalization
and increasing penetration of
technology, lifestyle issues have

21
The Aon Hewitt 8th Annual

Rewards Conference
The New Order of Rewards
The Aon Hewitt 8th Annual Rewards Conference this year focuses on the changing order of rewards and the nextgen rewards practices. The action packed day has a line-up of veterans and industry experts from traditional
as well as new age industries like the e-Commerce sector, focus on how rewards practices are changing.
Here is a look in detail on the topics on focus.
Key Note Speaker Session Uday Kotak,

Executive Vice Chairman & Managing Director,
Kotak Mahindra Bank Ltd.
Learnings from the West The New Era of Rewards
Focus on Non-Monetary Rewards
Stephanie Pronk, Senior Vice President,
National Health Transformation, Aon
Health and wellness is a far more advanced concept in
developed countries like USA where organizations as
well as employees are aware of the importance of these
initiatives and are acutely aware of their well-being. This
session focuses on what Indian organizations can learn from
the western organizations to set up these initiatives and
increase awareness of the importance of such programs.
Case Study Health & Wellness as a Pillar for Driving
Non-Monetary Rewards Nanjappa BS, Head
Employee Relations, Infosys Ltd.
Amongst the many organizations in India that have
started adopting health and wellness initiatives, Infosys
has been at the forefront. This session gives an Indian
context and helps organizations to understand how to
leverage health and wellness as non-montary rewards
practice to showcase an organizations employee value

proposition.
Panel Discussion The Changing Face of NonMonetary Rewards in India Animesh Kumar, Group
Head, Human Resources & Corporate Services,
IDFC Ltd.; Anuj Gulati, MD & CEO, Religare Health
Insurance Company Limited; Leena Sahijwani, Head
of Rewards, GE India; Suryanarayana Kodukulla,
Director People Operations, Sales India, Google
It is evident that traditional rewards practices are no
longer the yardstick of a successful rewards program.
With the changing workforce demographics and
lifestyles, organizations are looking to create radical
rewards programs which are favorable for the nextgen workforce. This session attempts to understand
from established organizations, how the non-monetary
rewards are changing and gaining prominence in the
overall rewards strategy of an organization.
Expert Address The Role of Technology in Driving
New Forms of Rewards Mechanisms Olivier Pestel,
Director, Solution Consulting, Asia Pacific & Japan,
Cornerstone On Demand
Technology is playing an increasingly important role in

our daily interactions. Needless to say, early adopters of
technology have a clear advantage in connecting with
their employees and also gaining the maximum returns
out of their rewards programs. This session helps to
understand the role and importance of technology in
staying ahead of the curve.
An Entrepreneur Perspective Rewards in New Age
Companies Kavin Bharti Mittal, Founder & CEO Hike
In conversation with a mix of experts from different

backgrounds, this session explores the sustainability of
these new age rewards practices. Different perspectives
from traditional organization, e-Commerce sector
and investors as well, help to debate the future of
such practices.
Signature Speech Dr. Nachiket Mor, Member of RBI
Board & Board Chair of CARE India
The e-Commerce sector has seen a sudden rise

in the last year. In conversation with Kavin Mittal,
we try to understand how rewards mechanisms
work in new age industries and on how they are
really different from traditional organizations?
Panel Discussion Sustainability/Viability of
New Age Rewards Practice Anurag Mohit,
Vice President, Compensation & Benefits,
APAC, GCG & Japan, IBM; Babu Vittal, Senior
Director, Human Resources, Flipkart; Nitin Nayar,
Managing Director, Warburg Pincus; Saurabh Nigam,
Vice President, Human Resources, Snapdeal
22
www.aon.com/india
23
trendcheck
Trend Check
2014 Consumer Health Mindset A Global Perspective

Workplace
Wellness
Personal Health
Im not always honest with

myself about how healthy I am.
59% say theyre
in at least good health

but are actually
overweight or obese
Incentive Drivers
In a strong culture of health,
I am more likely to
do whats good for me.
Behaviors Driven by
Workplace Health Culture
obstacle
lack of time and
are the hurdles they cite most often
TOP 3
Sources most influential on
personal health and wellness
Aon Hewitt | 2014 Consumer Health Mindset Overview
www.aon.com/india
Postpone Care
24%
30%
Make Healthy
Choices
23%
21%
Consumers Guess on
Health Care Spend
tested for health measures for
Out-of-pocket spend
$50 or less
In a weak
health culture
There is value for me and the

employer in having strong
workplace wellness.
Weak
Perception of
Workplace
Health
Culture
Mediocre
15%
higher
than actual spend (on average)
Participating has improved

their or their familys health
Im much more likely to be using

mobile apps than I was last year.
79%
regularly use at least

one social media
platform or mobile
application
(up 10% from last year)
Of the 79%
5 %+
use community boards/

blogs, Foursquare,
Pinterest and mobile
apps at least monthly
for health and
wellness activities
19%
would have blood drawn and
In a strong
health culture
Strong
Advice from
family or friends
consumers
take more often since
enrolling in an HDHP
Seek Lower
Cost Options
benefit of doing it
Exercise at least
3x per week
gets in the way
24
a blood draw just for the
In a weak
health culture
say at least one
Actions
Get Routine
Preventive Care
would participate in
In a strong
health culture
of consumers
My own view
of how I feel
38%
Communication
Channels
Health Plans
Had an annual
physical last year
85%
Advice
from doctor
Wellness
Programs
Tools & Information
Consumers Find Most Helpful

Consumers
under age 30
are more
likely to value
general wellness
information
(63%) and cost
clarity tools
(60%)
Employer spend
93%
Healthy
Eating
Program
85%
Fitness
Program
24%
lower
than actual spend (on average)
Consumers
over age 60
are more likely
to value health
plan decision
tools (66%)
I have a pretty good sense of

what health care costs me, but
I still underestimate what it
costs my employer.
Follow this space to read about emerging compensation, benefits and other rewards trends in short insightful bytes.
For more information, please write to us at total.rewardstaonhewitt.com | Follow us on LinkedIn at Aon India & Twitter @Aon_India
25
surveycalendar
FMCG/D Outsourced Field Sales
Force (OFS) Study July-October
Flagship study in the FMCG/D industry
focused on presenting comprehensive
compensation and benefits benchmarking
trends for the off-roll field sales staff in India.
Aon Hewitt FMCG Forum

May-October
This forum brings together 15 leading
FMCG organizations in India to benchmark
compensation, benefits and other best
practices for on-roll employee population.
Upcoming
India Pharmaceutical Forum
June-September
The forum brings together the key MNCs
and Indian pharmaceutical organizations
to benchmark their positions, levels
and benefits across the industry.
Aon Hewitt Consumer Industry

Study September-December
Medical Technology Forum

July-October
This study provides benchmark information

around compensation, benefits, manning,
sales incentives and structures across small and
mid-sized FMCG and FMCD organizations.
The study covers leading organizations in the

medical devices/technology domain providing
robust and comprehensive information on
cash compensation and industry trends.
Chemicals Forum July-September
Life Sciences Forum

August-November
The study covers leading organizations

in the chemicals sector and benchmarks
compensation & benefits and rewards trends.
SIAM C&B Forum

September-January
A study facilitated by SIAM members covering
more than 25 large auto OEMs in the country.
The study benchmarks compensation,
benefits and people and productivity
measures in the auto OEM industry.
Auto Ancillary C&B Forum

September-January
A study conducted for auto ancillary
organizations across the country. The
study benchmarks compensation, benefits
and people and productivity measures.
India Hotel Survey July-December

The forum brings together leading hotel groups
to benchmark their compensation, benefits,
people practices and key organizational metrics
and covers multiple properties and locations.
India Retail Forum July-October

The study covers leading organizations,
in the retail industry providing robust,
and comprehensive information on cash
compensation and industry trends.
India QSR (Quick Service

Restaurant) Forum August-December
This forum brings together leading
QSRs to benchmark compensation,
benefits and other best practices.
India Telecom Towers Forum

February-May
This forum brings together leading
telecom towers companies to benchmark
compensation and other leading practices.
26
www.aon.com/india
The study covers leading organizations in

the contract research, manufacturing, clinical
research, vaccine, biotech domain providing
robust and comprehensive information on
cash compensation and industry trends.
ITeS Industry Study May-August

The forum brings together ITeS sector
organizations to benchmark their
compensation, people practices and presents
detailed analysis across third party, BFSI
captives, other captives and KPOs.
Insights
McLagan Banking &

Financial Services
Insights
Capital Markets Forum Study
April-September
A benchmark study conducted for global
investment banks and Indian institutional
securities firms covering equity capital
markets, debt capital markets and
investment banking job families.
India Banking Forum Study

May-October
A platform for all major Indian and MNC
banks to come together to share and
benchmark their positions, levels, functions
and sub-functions across the industry.
Investment Management Forum

Study June-October
A flagship study in the asset management
sector covering key job families like fund
management and sales.
Private Banking Forum Study

June-September
Hi-Tech Industry Study

May-September
This study covers large Indian and MNC

private wealth management organizations
benchmarking key roles across functions.
The study provides robust information on

cash compensation and other industry trends
across IT sectors IT services, IT products,
semiconductors and engineering design.
Life Insurance Forum Study

September-January
Indian Semiconductor and EDA

Forum (ISEF) October-December
The forum brings together leading
semiconductor and EDA companies to
benchmark compensation, variable pay
practices and key organizational metrices.
Salary Increase Survey

Phase I: June-September
Phase II: December-February
One of the most exhaustive studies in the
area of performance and rewards in India, the
study measures actual and projected salary
increases, variable pay and performance
data across employee categories.
This study covers the largest life insurance

players in India covering positions
across all channels of distribution
and key corporate functions.
General Insurance Forum Study

September-February
This study covers the largest general
insurance players in India covering
positions across all channels of distribution
and key corporate functions.

Follow us on LinkedIn at Aon
India & Twitter @Aon_India

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AON Hewitt TRQ - Vol 5 Issue 2

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India Volume 5 Issue 2

Public Sector Banks

Health & Wellness Initiatives

The Skill is Not

Copyright 2015 Aon

Health & Wellness Initiatives

2014 Consumer Health Mindset

The Aon Hewitt 8th Annual

India Volume 5 Issue 2

been the fastest growing large

Vinay Razdan, is the Chief Human

Chief Human Resource Officer, Idea

The HR strategy has been integral to achieving business

Q. What have been the three

tracking manpower productivity in

rewards strategies have you

India Volume 5 Issue 2

We have kept a certain

tweaked our talent management

implementation and deriving

encouraging physical activity and

"Total Rewards Statements" (TRS )

Showcase the differentiation of rewards programs

For further details and queries, please write

is four times that at private sector banks (5.85 years). This

The Pay Paradox - Debunking the Myth

Public Sector Banks

emerges as a bit of a paradox is their ability to compete

Source: Aon Hewitt Research

Prima facie, the higher pay at junior management

Source: Aon Hewitt Research

Across levels of management, benefits and retirals

public sector banks, as compared to that prevalent in the

Benefitting from Benefits

Given factors ranging from

India Volume 5 Issue 2

level for reservation of seats for children of the staff. This

Other Non-Monetary Rewards

At `9.5 lakh per annum, an

Work-life Balance: Public sector banks clearly trump

Summary List of Benefits

Kit Allowance For

Advantages of Distinct Pay Practices

Cost Advantages of Distinct Pay Practices

increments. This is because spends on non-monetary

Pay Practices-Related Challenges

cash. An employee may therefore not always value and

The Kings New Council

For more information, please write to us at total.rewards@aonhewitt.com

India Volume 5 Issue 2

The Times They are a Changing

The Skill is Not Enough

The technology space is going through interesting times

Talent Imperatives in the Time of SMAC

differently from how they have done in the past. Aon

There is a tectonic shift

Given the dynamic nature of the landscape, organizations

India Volume 5 Issue 2

With technology cycles becoming

Traditional Rewards Management: Why it

Source: Aon Hewitt Research

cycles becoming much shorter, positioning employees

Skill Premiums Baked into Base Pay

Showcase the differentiation of rewards programs