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-December with the participation of 54 SLASSCOM member companies. This year’s study was conducted by PricewaterhouseCoopers (PwC), which have also partnered with SLASSCOM to compile the report on six previous occasions.
The IT/BPM industry is recognised as a thrust industry within the National Export Strategy (NES) and is promoted globally as the ‘Island of Ingenuity’ for world-class knowledge solutions.
The industry goal is to reach US$ 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. It provides companies to align their compensation strategies based on their overall employee value proposition.
Companies can compare the local benchmarks across streams such as Software Engineering, Software Quality Assurance, Business Process Support, Business Analysis, Project or Program Management, Network Administration and other industry specific roles.
The study, a tool for investors to assess Sri Lanka’s attractiveness when looking at entry or expansion opportunities in the knowledge solutions industry, provides insights across different sizes of companies to benchmark a company.
The study covered 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 skills based analysis of common skills identified to provide an understanding of the variance in pay associated with such skills 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 job positions to provide a benchmark to the entry level salary scales in the IT/BPM sector.
The publication team consisted of Head of Strategy and Human Resource Consulting Services, Lasanga Abeysuriya and Analyst, Human Resource Consulting Services of PricewaterhouseCoopers, Zeidi Daniel, Senior Director Human Resources – Virtusa and Director, SLASSCOM, Chandi Dharmaratne, Senior Vice President and Chief Operating Officer of IFS R&D Limited Ranil Rajapakse and Associate Manager, SLASSCOM Didula Perera.