SLASSCOM publishes IT/BPM Industry Annual Compensation and Benefits Study for 2018

Thursday, 17 January 2019 00:46 - - {{hitsCtrl.values.hits}}

The Sri Lanka Association of Software and Services Companies (SLASSCOM) released the Compensation and Benefits Study for the IT and BPM industry for the eighth successive year. The study was conducted during September through December with the participation of 54 SLASSCOM member companies. This year’s study was conducted by PricewaterhouseCoopers (PwC), who has partnered with SLASSCOM to compile this report on six previous occasions as well.

The IT/BPM industry is recognised as a thrust industry within the National Export Strategy (NES) as is promoted globally as the ‘Island of Ingenuity’ for world-class knowledge solutions. The industry goal is to reach $ 5 billion by 2022, powered by 200,000 skilled jobs in the industry, along with a thriving ecosystem for start-up companies.

The SLASSCOM Compensation and Benefits study provides value to multiple stakeholder groups in the knowledge solutions space. For companies, it provides the ability to align their compensation strategies based on their overall employee value proposition. Companies are also able to compare the local benchmarks across streams such as Software Engineering, Software Quality Assurance, Business Process Support, Business Analysis, Project/Program Management, Network Administration and other industry specific roles.

The study is also structured to provide these insights across different sizes of companies in order to benchmark a company effectively. This study is also a reliable tool for investors to assess Sri Lanka’s attractiveness when looking at entry or expansion opportunities in the knowledge solutions industry.

The study covered an analysis of 150 job positions across a wide range of job families, representing the compensation practices and perspectives of small, medium and large IT and BPM companies.

The report provides details on:

1) the emerging HR trends and practices and covers a comprehensive understanding of the compensation strategies, employee attraction, retention and engagement strategies executed by industry players

2) a skill based analysis of common skills identified to provide an understanding of the variance in pay associated with such skill sets

3) a statistical analysis of the market mean, median and percentiles for job positions in the IT and BPM sector

4) graduate salary scales of select job positions to provide a benchmark to the entry level salary scales in the IT/BPM sector.

The publication team consisted of Lasanga Abeysuriya, Head of Strategy and Human Resource Consulting Services and Zeidi Daniel, Analyst, Human Resource Consulting Services of PricewaterhouseCoopers, Chandi Dharmaratne, Senior Director Human Resources – Virtusa and Director, SLASSCOM, Ranil Rajapakse, Senior Vice President and COO of IFS R&D Ltd. and Vice Chairman, SLASSCOM, and Didula Perera, Associate Manager, SLASSCOM.

For more information on the publication or to purchase the report, please contact Didula Perera ([email protected]) at the SLASSCOM Corporate Office.