SLASSCOM launches Compensation and Benefits Survey for the year 2020
The Sri Lanka Association for Software and Services Companies (SLASSCOM) launched its Compensation and Benefits Survey for the year 2020, in partnership with PwC Sri Lanka recently to provide an in-depth analysis of the compensation and salary-related trends and insights of the Sri Lankan IT and BPM sector.
This comprehensive research report, which will be published in December, will equip industry players with insights, data, and trend analysis for decision-making with regards to its employees and human resource management in general.
“Carried out covering 150 job positions across a plethora of jobs, representing the practices and perspectives of small, medium and large scale IT and BPM companies, the SLASSCOM Compensation and Benefits Survey will provide a wide-ranging compensation and benefits analysis which will arm companies with a comprehensive toolkit of information for effective forecasting and positioning,” said SLASSCOM Board Director and HR Forum Head, Shehani Seneviratne.
The report will provide a statistical analysis of the market mean, median, and percentiles for jobs across the IT and BPM sector along with a skill-based analysis of common proficiencies identified to provide an understanding of the variance in pay associated with such skillsets.
It will also cover graduate salary scales of selected job positions, providing valuable insights to industry players with regard to entry-level salary scale benchmarking.
From a larger perspective and an operational outlook, the research report will deliver an in-depth analysis of the emerging human resource management trends and practices in the sector along with a holistic analysis of the various compensation policies, employee attraction mechanisms, and retention and engagement strategies adopted by the IT and BPM industry. This year’s report will have a special section on post COVID employment trend analysis as well.
The SLASSCOM Compensation and Benefits Survey 2020 is open to all companies in the industry. Responding to the survey is free. Companies in the IT/BPM industry interested in taking part in the survey can do so by sending the contact details of the Head of Human Resources department of the organization by email to [email protected].
SLASSCOM and PwC publish the Sri Lanka IT-BPM
SLASSCOM, being in the forefront of promoting the IT and BPM industry in Sri Lanka, has published the latest edition of the Sri Lanka IT-BPM industry compensation and benefits study for 2020, which is an initiative of the HR forum of SLASSCOM
The annual publication has been produced with the continuing support of PwC Sri Lanka, which acts as the independent technical partner providing HR rewards and research expertise, to address critical areas such as attracting and retaining talent within the local IT-BPM industry. This benchmark report also provides invaluable talent insights to improve the competitiveness of incumbent industry participants as well as help potential new entrants understand the talent landscape and cost of doing business in Sri Lanka.
The 2020 edition of the compensation and benefits study covers data of over 17,100 incumbents employed in a broad spectrum of IT and BPM job functions, within the sector. The study is well represented with data directly shared by participant companies ranging from small to large local as well as foreign-owned IT and BPM service companies in Sri Lanka.
In addition to the comprehensive compensation and benefits analysis presented, the report also covers useful insights on talent management practices employed by participant companies. Information on actual and planned salary increment levels, qualification of entry-level hires, staff attrition rates, and main reasons for staff turnover are amongst areas covered and which can be helpful for companies planning their talent attraction, retention, and engagement strategies. The 2020 edition specifically covers how Sri Lanka’s IT-BPM service companies coped with the COVID-19 pandemic.
“The 2020 compensation benchmark study has captured essential changes organizations performed to reshape their workforce and related strategies in response to the pandemic,” says Lasanga Abeysuriya, Executive Director and Head of Strategy and HR Consulting at PwC Sri Lanka.
The Chairman of SLASSCOM Channa Manoharan stated, “the IT-BPM industry in Sri Lanka has seen substantial expansion and has had some of the strongest growth among all export sectors and earned recognition in the global market for their cost-competitive advantages, high quality and educated workforce with developed skills. This innovative and constantly evolving industry has provided significant benefits to the national economy as well. With the Sri Lankan, start-up ecosystem expanding rapidly, improving the supply of highly qualified professionals will be essential to satisfy the growing IT-BPM market and we believe this report will give an insight into the future talent requirements of the sector and also pave the pathway for initiating strategies to attract the right talent for the industry that will in turn help to propel its future growth.”.
This latest survey publication, currently available for purchase at the main SLASSCOM office, has been produced despite the challenges caused by the prevailing pandemic and is a testament to both SLASSCOM and PwC’s continuing commitment to support the local IT-BPM industry and its talent development requirements.