The IT product firm’s increments are at par, and in some cases, even above the industry standards.
While the IT industry has been the talk of the town for its recent tough phase, with extremely low salary increments and layoffs galore, the IT product space may have a different story to tell. Unlike the IT service organisations that rely on projects, the IT product organisations can vouch a stable and certain growth, not having to sacrifice talent to situations, such as bench and slowdown in projects.
At a time when the IT service space is going through a rough patch in terms of talent, the IT product company, e-Emphasys, has just given out salary increments to its staff, that are way better than the industry standard. On an average, the Company has provided over 20 per cent increment to employees at the base level. The overall increments, including baseline and managerial level, stand at an average of 11–12 per cent.
The IT industry, on the whole, has been able to pay out much lesser increments this year. The KPMG Annual Compensation Trends Survey 2017–18 stated that the increments in the IT sector this year will be at 7.6 per cent and for ITeS it should be 12.9 per cent.
e-Emphasys just finished handing out the increments to its people, putting them at par and in some cases, even above the industry standards. Abhishek Jha, director-global human resources, e-Emphasys, says, “The increment exercise has been a watershed moment for us, with many employees at the baseline levels getting increments averaging 20 per cent plus. Needless to mention, performance was a rider in this exercise. Overall, we have seen an 11–12 per cent increment across baseline and managerial levels.”
Explaining what makes the IT product space so sustainable in times, such as these, Jha adds that, “As an organisation with a ‘product spirit’ at its core, we are insulated by variables, such as bench, projectised work and headcount-driven growth. In the absence of these, we were able to work around competitive increments for our employees.”
In addition, he shares that for several of their employees, the company consciously worked around increments that would take them to a ‘market benchmark vis-à-vis experience’ in the truest sense.
“With this exercise, I feel we have reached a point, where salaries of our employees are placed perfectly and in line with market, pedigree, performance & experience,” Jha concludes.