Aon India Talent Entropy Survey

Aon India’s Talent
Entropy Study
2022
2nd Edition
July 2022
Table of Contents
01 02 03 04
About The Survey Global Economic Attrition Trends for 2022 Identifying the Most In-
Uncertainty and its – No Slowdown for Demand Skills for 2022
Implications on India Niche/Digital Skills
05 06 07 08
Talent Acquisition Trends Rethink Location Strategy Reimagining EVP to Plan Call to Action and Survey
Amidst a Focus on Hiring to Increase Talent Access for Long Term Participants
Digital Skills Sustainability
Aon India’s Talent Entropy Study 2022 2

About The Survey
This report presents the results of the second edition of Aon India’s 2nd Talent Entropy study. This is one of the most awaited and widely quoted
piece of research across rewards and performance trends in India, as well as globally. The survey focusses on trends in talent management for
2022. With participation from over 300+ organizations representing industries that incudes sectors such as Hi-Tech/Information Technology, E-
Commerce, Professional Services, Financial Intuitions, FMCG/FMCD,etc. the study provides a comprehensive view of current and emerging attrition,
talent acquisition and skill premiums across the spectrum of industries.
The report covers submissions received during April and May, and the results compare talent management practices across the last 24 months as
organisations respond to unique challenges posed by the ongoing “War for Talent”. The themes explored include attrition trends, offer
accept/reject trends, skill premiums/discounts among others across sectors. A few considerations to keep in mind while decoding the results
Number of Respondents (Ns) across each question in the survey are

All numbers that have been reported are including 0s. varying and hence the average across employee groups may not be
equal to the overall analysis
Data has not been represented across those questions wherein the Percentages will total more than 100% across certain analysis due to
number of respondents are less than 5 multiple responses shared by participants
Attrition numbers have been annualised for the calendar year 2022-23

Key Themes
Amidst global uncertainty there is cautious optimism in the Indian IT/ITeS segment on the back of strong fundamentals
34.20%
Highest Demand-Supply
Imbalance occurs in the
following skills:
• Cloud Development
27% 32.50%
• Full stack
Development
• Cloud Architecture
2021-22 2020-21 • Data Analytics
27% average attrition for niche A lower year-on-year Offer Decline
skills confirms that war for Digital Ratio indicates organisations are
talent continues hiring better
EVP/Culture
90% Reassess Rewards Strategy
Re-look at Benefits Portfolio
Chennai Pune Delhi NCR
90% of the sectors prefer cash- These cities are leading the race Firms prioritise EVP and a revamped total
based retention bonuses & out of to help with tech talent rewards strategy in 2022
cycle corrections decompression

Foreword
A lot of what we see today seemed unthinkable a few years back. We see chaos all around us from political tensions,
to economic uncertainties to profoundly impacted personal lives. Such scenarios demand individuals to show
resilience in the face of challenges, empathy to understand and collaborate with others and finally the agility to
adapt to a fast changing world.
A lot of what we see today seemed unthinkable a few years back. We see chaos all around us from political tension
to economic uncertainty to profoundly impacted personal lives. Such scenarios demand individuals to show
resilience in the face of challenges, empathy to understand and collaborate with others, and finally the agility to
adapt to a fast-changing world.
As we release the second edition of the talent entropy survey, we focus on broader trends impacting corporate India
from high attrition to scrambling for digital talent while planning for long-term sustainability. Some headwinds
threaten to derail the COVID-19 recovery but also realise that the path to safety for a firm depends on its ability to be
Nitin Sethi agile and pivot at the right time using digital technologies as a catalyst. History shows that some of the most
CEO, India & South important disruptions such as the birth of Apple and Microsoft have followed immediate slowdowns. Hence, firms
Asia, Aon need to be able to re-innovate and disrupt their business models to secure their future and start the next cycle of
innovation. This survey helps clients look for answers around how to build talent that ensures a sustainable future.

Survey Team
Anirban Gupta Jang Bahadur Aaradhya Sana Parikh Sneh Shah

Associate Partner Singh Sharma Senior Analyst Senior Analyst
Survey Director Director Consultant Survey Team Survey Team
Survey Manager Survey Team
While India Inc is coming out strongly after multiple waves of COVID, peaking attrition has been a persistent challenge that organisations face.
Would the talent availability derail ambitious growth plans which firms have set for themselves? Or would the dust settle so we can head
towards normalcy?

Global Economic
Uncertainty and
Implications for India

The Million-dollar Question On Everyone’s Mind
– Are We Entering A Recession?
While there is economic uncertainty globally fueling concerns, the Indian IT/ITeS industry may not have an immediate
cause for worry based on a strong demand pipeline and the BPO/KPO arbitrage model
A situation wherein we were dealing with a prolonged
pandemic and high inflationary pressure has been made Real GDP Growth Rates
even more challenging with the political happenings in 6.6
Eastern Europe. An increase in prices of commodities 5.7
where supply has become constraint and the impact of 5.1
relaxed monetary polices of governments has meant that 3.8

4.2
inflation is at record highs. Another fallout of the frequent 3.4
3
2.9
supply chain disruptions has been a dramatic drop in 2.6 2.6
2.2
global export numbers. 1.7
A sectorial outlook gives some confidence to the industry.

The technology product and services firms have spoken
about growth and strong demand pipelines well into 2023.
Financial services have used 2020 and 2021 to clean the
-1.6
books and clear out NPAs. They have managed to meet
analyst expectations on results.
-3.3
FMCG/FMCD and manufacturing sectors have made
-4.6
massive investments in scaling digital capabilities. In the
short term, some challenges with high input costs are
2019 2020 2021 2022 2023
expected to hit margins. In the long run, the benefits of
transformation and automation will help ease margin World Avanced Economies EMDE
pressures and increase growth. Advanced Economies

Global Economic Scenario
There is good news in retail, with numbers proving revenge buying is a This period could give momentum to further innovation and disruption. Historically, every
phenomenon on digital channels. We expect the sector to grow at 5.2% year on recessionary situation has fuelled the next cycle of innovation. The 71-75 crisis gave
birth to Apple and Microsoft. 2003 saw the rise of Netflix, 2008 saw Airbnb, and so on.
year with the knock-on effect of e-commerce and luxury spending in segments
As organizations reorganize and reassess business models to tackle current economic
such as furniture, appliances, etc. uncertainties, we may witness the start of a prolonged bull run for a couple of quarters.
Almost six months into 2022, travel demand finally shows signs of a significant Every downturn has created the next wave of disruptive global brands, hence it is
improvement. International tourism increased by 182 percent in the three months important for firms to also use this opportunity to improvise business models and
of 2022 compared to the previous year. While it is still 60 percent below 2019 processes apart from protection of existing business.
levels, the gain in international arrivals picked pace in March, pointing towards a
strong second quarter leading into the summer holiday season. The dollar remains strong a sharp contrast to the weakness that preceded the 1971
In summary, despite the continued supply-side disturbances, inflation is driven by crisis, the balance sheet of financial services are also strong unlike 2022 and finally
central banks of all major economies are playing a proactive role in controlling
highly accommodative monetary policies. The threat of inflation is real. The fact
inflation gives optimism that we could ride out this phase.
remains that 2022 is unlike any other in 2008 or 1970s where there was a collapse
in the fundamental part of the economy.
2022 - ?
1975 – Apple, Microsoft 2003 – Netflix, Mailchimp
1983 – Costco, SMS's Club 2008 – Airbnb, Lego
1975 1983 2003 2008 2022

Implications for Indian IT/ITeS segment
As firms globally look for solutions to protect margin and growth, these Trends supporting Indian IT/ITeS sector
are times for India. The Indian IT/ITeS sector depends on global cues as
firms look to increase outsourcing and automation. The Indian Global Talent Pool Global Supply Chain
Technology market expects a 16% increase hitting $227 billion in 2022. Transformation Replanning
The market gain depends on the 17% increase in exports. 57% of employees indicate strong $3-5 Tn potential trade opportunity
Sectors such as manufacturing, life sciences, oil, and gas are yet to interest in remote global opportunities flowing out of China by 2030
unlock the potential of digital transformation. These sectors will continue
to be on a high growth trajectory. Global Big Tech Digital Transformation
Regulation Push
India is in a favourable position for GIC growth compared to competing
countries. India offers cost attractiveness and the ability to scale that no >$1 Bn in fines levied by several $2+ Tn spend on IT
other geography can match. The sector expects 200+ GICs to establish in countries in 2021 Services/Products globally
India in the next couple of years. The revenue numbers will touch $80
Ecommerce
billion in the next couple of years.
explosion
The software industry dominates in terms of the number of GICs in the
country, while BFSI GICs employ the highest number of employees along $13 Tn global market growing 20%
CAGR
with Software GICs despite only comprising 7% of the total GICs in the
country. GICs are undergoing a paradigm shift in operating model – from
Finally, the early-stage segment has seen continued activity. With the siloed, process oriented, cost arbitrage and delivery focused
addition of 17 new unicorns, the new total for unicorns stood at 103. In model to digital, outcome oriented, value adding and strategic
addition, more than 50+ soonicorns will take the overall number of partner model
unicorns above 150 in the next 18-24 months.
In Summary
As we survey opinions across our client base, the broad sentiment is Building an eco-system for the Digitally Native talent pool
cautious optimism. While most clients say there are no immediate
concerns with a strong demand pipeline, if the current scenario turns
into an extended slowdown, it can increase recessionary fears. 1 2
The other vital theme is how the ability to protect margins and the Capability Development Leadership Development
addition to the top-line through platform journeys or verticalisation
• Building a specialised knowledge pool, • Enhancing leadership by grooming
will depend on the success of individual digital transformation
skilling and reskilling employees potential employees
journeys. • Providing continuous learning • Building an innovation mindset to
This focus on digital capabilities will mean that the talent market for opportunities through L&D initiatives provide value to business
• Sharing global working styles like • Succession planning to ensure a
such niche skillsets will continue to be hard for the next 12-24
usage of Agile ways of working strong leadership pipeline
months. Expected total demand growth for digital talent is ~30%
CAGR to achieve 2.3Mn by 2023. There is currently 25-30% of
unmet demand for digital talent.
3 4
Performance Management Leveraging Technology
This talent shortage has led to a war for this talent pool resulting
in high attrition, difficulties in hiring, and increasing talent costs. • Moving towards an agile Performance • Leveraging cloud solutions to enhance
Management System employee experience
In such an environment, short-term rewards-specific
• Incorporating real time feedback and • Incorporating leading technology for
interventions alone may not be enough to retain and hire digital
frequent conversations talent acquisition
talent. Organisations should focus on creating the right • Building robust career paths in line • Robust HRIS systems to ensure
ecosystem to build this digitally native talent pool. with global career trajectories seamless employee experience

Attrition Trends 2022- No
Slowdown for Digital Skills

Has The Global Uncertainty Started Reflecting In Slow Down In
Demand And Lower Attrition ?
The war for Niche/Digital skills rages on with firms still dealing with record high attrition and having to aggressively
spend to buy talent
The last 18 months have been unchartered for firms

Reasons for high attrition
across the globe, particularly when considering
talent management. Firms struggled with “The Great
Resignation” that disrupted the talent supply chain.
Employees left existing jobs in droves to new firms, High demand for digital talent A weakened employee-employer
sectors, or completely different domains. with supply shortages bond and system fatigue
India saw a record with a 21% overall attrition.
However, in India, the attrition was less secular.
Demand for digital talent in IT/ITeS, e-commerce,
retail, and the start-up segments added to the
Convergence at play with non- An E-Commerce and Start-Up
attrition numbers. traditional also going Digital sector boom
Even today, six months into 2022, amidst a
challenging global scenario, the demand for this
talent hasn’t let up. The attrition numbers for 2022
have gone up for the digital talent compared to 2021
across sectors. Job change for salary corrections
and better work-life balance

Attrition Trends For Digital Skills
High attrition numbers continue in 2021 for digital talent. There is no slow down in demand for this critical group.
There are a few trends that stand out
• The KPO/BPO segment has seen the highest attrition in the digital • Very high attrition was observed in non-native organisations such as
skillset as they struggle to provide the breadth and variety of work auto and financial institutions, given the lack of a supporting ecosystem
available in a start-up/e-commerce set-up. for this talent to thrive.
• Attrition is growing momentum in e-commerce owing to layoffs and • Traditional sectors that house the majority of the digital talent like app
employees transitioning to established brands, given concerns services, and products continue to be preferred hunting ground for
around funding for the sector. GCCs and e-commerce/start-ups during this number is higher for them.
Based on the below, it is safe to assume that the demand for digital continues to be strong and is relatively untouched by fears of a slowdown.
Attrition trends for Niche/Digital skills
35% 33%
28% 29%
30% 28%
24% 25% 25% It is safe to assume that the
25% 23%
20% 21% 21% demand for digital talent
20% 18% 18%
17%
15%
16% 15%
13%
continues to be strong and is
10%
relatively untouched by fears
5%
of a slowdown.
0%
App. Services/ Consulting Automotive/Vehicle BFSI Captive Engineering/Manufacturing Financial Institutions* Retail/FMCG/FMCD GICs/GCCs KPO/BPO Software Products Start-Ups/E-commerce
Manufacturing
2021-22 2020-21

Attrition Trends For Non-digital Skills
The insights for non-niche talent are relatively different:

• The KPO/BPO segment continues to lead the industry in attrition • In all other remaining segments, we see attrition closer home to the
for non-niche talent. The big four firms rapidly scale their tax, traditional industry average numbers pre-pandemic.
audit, and assurance practices.
• Decline in attrition in the e-commerce and start-up sector as An analysis of the attrition trends in Non-Niche skills reflects how unlike
aggressive compensation and lower demand levels make it difficult globally “The Great Resignation” is much more secular in nature in India.
for non-technology talent to move outside existing set-ups. Hence, this phenomenon be termed as the “Great Technology Migration.”
• Application services and the auto sector have also seen higher There is a stark contrast in talent demand and opportunities that exist for
attrition in their sales teams on account of a resurgent demand the technology & non-technology talent groups.
scenario
Attrition Trends for Non-Niche Skills
An analysis of the attrition

30%
25%
trends in Non-Niche skills
25%
20% 20% 19% 20%

20% 18% 17% 17% 16% 16%
18%
reflects how in India. “The
15% 15% 14%
15% 13% 13% Great Resignation” can also
10%
10%
be looked at as the “Great
5% Technology Migration”.
0%
App. Services/ Consulting Automotive/Vehicle BFSI Captive Engineering/Manufacturing Financial Institutions* Retail/FMCG/FMCD GICs/GCCs KPO/BPO Software Products Start-Ups/E-commerce
Manufacturing
2021-2022 2020-2021

Retention Measures For Digital Talent
As firms across the board struggle to control the outflow of talent, the focus in 2022 has shifted from reskilling and alternate working models to a rewards-heavy approach.
Out-of-cycle increments and corrections continue to be the most preferred approach. Retention bonuses & deferred cash pay-outs have replaced other options like reskilling,
better learning opportunities, etc., as the second most used retention tool. Reskilling and accelerated growth opportunities have emerged as the third and fourth most used
retention options.
Some trends emerge from a sectorial cut of the data -increased equity participation used as a tool in the software products and start-ups sector.
Reskilling/up-skilling is crucial for digitally non-native sectors like auto and GICs. Start-ups least prefer this option, given the much shorter business cycle and pace.
The approach from the industry in the short term is to inject money into the problem. Only time will reveal the impact this has in the long term.
Retention measures’ preference order for Niche Skills
App. One trend being reflected

BFSI Financial Retail / Software Start-Ups / across all sectors is that out
Services / Auto Engg. / Mfg GICs/GCC KPO/BPO
Captive Institutions FMCG Products E-comm of cycle corrections are the
Consulting
Gig Working Model most preferred retention
7 2 5 7 6 7 6 7 7 2 6 8 5 6 8 7 8
Adoption measure for niche skills,
closely followed by
Re-skilling/ Up-skilling 4 2 3 5 2 4 4 2 5 2 3 3 4 2 5 5 8
retention bonuses.
Out of cycle
1 2 1 1 1 1 1 3 1 2 1 1 1 1 1 1 1
However, Gig working
increments/Corrections model as an option and out
Retention bonus (Deferred of cycle promotions have
2 5 1 2 5 2 2 5 2 5 2 1 3 2 2 2 3
Cash) emerged as the least
Spot bonus (One time pay- preferred options across
5 5 7 6 8 6 8 8 7 5 7 7 7 6 6 8 7
outs) the board.
Increase long term
7 5 8 8 7 8 6 3 6 5 8 6 8 6 7 3 3
incentives / Equity
Rank in 2021-2022 Rank in 2020-2021
Accelerated growth
2 1 4 3 4 3 5 1 2 1 4 4 2 2 3 3 2
opportunities *Similar ranks show equal number of responses
Out of Cycle Promotion 6 5 5 3 3 5 3 6 2 5 4 5 5 2 4 6 5

Retention Measures For Non-digital Talent
We see firms take a more aggressive approach to digital talent in 2022 except for • Reskilling/up-skilling is still crucial for digitally non-native sectors like auto and GICs.
out-of-cycle increments. For non-niche talent, there is a traditional approach Start-ups do not view it as a viable option due to their dependency on high pace
taken.
resulting in shorter business cycles,
Reskilling & upskilling talent and accelerated growth opportunities remain the top • Gig working model as an option and have emerged as least-favoured followed by out-
measures to counter attrition in some industries. For non-niche talent, out-of-cycle of-cycle promotions.
increments and corrections are prominent across the board.
• Spot bonuses (one-time pay-outs) tend to be a tool used more for talent attraction
Among other trends we observe from our data: than retention.
There is some respite as organisations attempt to balance their investments across both
• Increased equity offerings are used in the engineering and manufacturing
their portfolios.
sectors for non-niche talent and start-up sectors.
Retention measures’ preference order for Niche Skills

App.
BFSI Financial Retail / Software Start-Ups /
Captive Institutions FMCG Products E-comm
Consulting
Gig Working Model Rank in 2021-2022 Rank in 2020-2021
7 5 4 7 6 7 2 5 2 4 6 7 7 1 5 3 6
Adoption
*Similar ranks show equal number of responses
Re-skilling/ Up-skilling 4 2 2 2 3 1 3 2 6 2 3 3 3 1 3 3 7
Out of cycle
2 4 1 1 1 2 1 3 1 2 1 1 1 5 1 1 1
increments/Corrections
Retention bonus (Deferred
1 1 2 4 5 3 6 5 2 4 2 1 3 1 2 1 3
Cash)
Spot bonus (One time pay-
6 7 5 4 8 7 7 8 7 4 7 6 5 5 7 7 8
outs)
Increase long term
7 6 5 7 7 6 8 4 7 4 8 4 8 5 8 6 4
incentives / Equity
Accelerated growth
3 3 8 3 4 4 3 1 1 1 4 4 1 1 4 5 2
opportunities
Out of Cycle Promotion 5 8 5 4 2 5 3 5 2 4 5 4 5 4 6 8 4

Off-cycle Corrections Being Leverage Extensively To Stem Attrition
With an average increase of more than 9% over 2021, organisations The Talent Philosophy for non-niche talent remains consistent with that of
consider over 20% of their digital talent critical. digital talent for start-ups & e-commerce, software products, financial
Sectors such as e-commerce & start-ups showed 35% off-cycle institutions, and consulting seeing a steep incline in average corrections
corrections to retain talent, almost double compared to 2021. The compared to 2021.
steep rise for start-ups is due to deep pockets combined with a low Sectors like application services and financial institutions attribute most
condensed talent population. of their investments to counter attrition among their Sales personnel.
Application Services & Consulting see an increase of out-of-cycle
corrections by three times to counter high attrition rates.
Coverage of Off-Cycle Corrections for Niche Skills (%age of Coverage of Off-Cycle Corrections for Non-Niche Skills (%age of
employees) employees)
40%
40%
35% 36%
35%
35%
30%
30%
25%
25%
25%
22%
21%
20% 20% 20% 20% 20%
20% 20% 18%
15% 15% 16%
15% 14% 14% 14%
15% 13%
12%
11% 11% 11% 11%
10%
10% 9% 10% 9%
8% 8%
7%
6% 6%
5%
5% 5%
0% 0%
App. Services Financial Retail / Software Start-Ups / App. Services Financial Software Start-Ups / E-
Auto BFSI Captive Engg. / Mfg GICs/GCC KPO/BPO Auto BFSI Captive Engg. / Mfg Retail / FMCG GICs/GCC KPO/BPO
/ Consulting Institutions FMCG Products E-comm / Consulting Institutions Products comm
2021-22 2020-21 2021-2022 2020-2021

Pays To Have Proficiency In Digital Skills, Literally
On average, digital talent is getting corrections over 20%, an Non-niche talent has relatively higher increases observed across most
average increase of greater than 5% over 2021. sectors compared to 2021. The start-up sector continues to show a
Sectors that struggled the most with attrition, such as KPO/BPO and reduction in increases and is among the few sectors giving out the lowest
IT Services, have given out some of the highest corrections. increases.
Interestingly, start-ups have seen a decline in the average correction Application services and software products sectors with high attrition
as the theme of constraint funding impacts off-cycle correction. have invested in their sales and talent acquisition teams.
Average Correction for Niche/Digital Skills (% of fixed pay) Average Correction for Non-Niche Skills (% of fixed pay)
30%
20%
26% 18% 18%
18%
25%
23% 23%
16% 15% 15% 15%
20% 20% 20% 20% 20% 14%
20% 19% 19% 14% 13%
18%
17% 12%
16% 12% 11%
15% 15% 15%
15% 10% 10% 10% 10% 10% 10% 10%
10% 9%
10% 8%
10% 9%
6%
4%
5%
2%
0% 0%
App. App.
BFSI Financial Retail / Software Start-Ups / Financial Retail / Software Start-Ups /
Services / Auto Engg. / Mfg GICs/GCC KPO/BPO Services / Auto BFSI Captive Engg. / Mfg GICs/GCC KPO/BPO
Captive Institutions FMCG Products E-comm Institutions FMCG Products E-comm
Consulting Consulting
2021-22 2020-21 2021-2022 2020-2021

Retention Bonuses As A Tool To Manage Key Talent
Retention bonus (deferred cash) has emerged to be the second most The trends in retention bonuses for non-niche talent remain similar to
prevalent measure to counter attrition across industries. 2021 in most sectors with 5% lesser talent seeing corrections as
On average, we see 20% of the digital talent being covered, which compared to digital talent.
remains consistent with their trends from 2021. The KPO/BPO sector shows a high increase in using retention bonus to
The KPO/BPO sector has struggled the most with attrition resulting drive retention for their non-niche talent too.
in the one of the highest coverage in retention bonuses, almost Start-ups saw a drop in correction measures compared to digital talent &
doubling their numbers from 2021. non-niche talent in 2021. To remain competitive, start-ups are prioritising
digital talent due to budget constraints.
Coverage of Retention Bonus for Niche/Digital Skills Coverage of Retention Bonus for Non-Niche Skills
30%
25%
25% 25%
20%
20% 19% 20%
18%
17% 17%
15%
15% 14% 14% 14% 15%
13%
12% 12% 12% 12%
11% 11% 11% 11% 11% 11% 11%
10% 10% 10% 10% 10% 10% 10%
10% 10%
8%
6%
5% 5% 5%
5% 5%
0% 0%
App.
BFSI Financial Retail / Software Start-Ups / App. Services Financial Retail / Software Start-Ups /
Services / Auto Engg. / Mfg GICs/GCC KPO/BPO Auto BFSI Captive Engg. / Mfg GICs/GCC KPO/BPO
Captive Institutions FMCG Products E-comm / Consulting Institutions FMCG Products E-comm
Consulting
2021-2022 2020-2021
2021-22 2020-21
Only Rewards Isn’t A Recipe For Long-term Success
As organisations continue to solve for immediate business results, Setting up your organization for success tomorrow, today
there is a danger of creating irreversible issues around talent parity,
pressure on the wage bill, and fair prices for the job.
“The Buy Approach” tends to give better results in terms of short-
High
term gains. Retention measures like attractive benefits, pay
Career Growth
Brand Building
Assess Culture
Multiskilling
corrections, & counter-offers help stabilises the ship for the here Fitment
and now. Improve Candidate

Live Culture
Experience Revisit
However, our data shows that successful organisations take a long-

Compensation
Attractive Benefits
Strategy
term perspective and “Build to Last.” Organisations that invest in
Impact
Expand Talent Pool
brand building to build a robust culture enjoy gains in the long run.
High pay offer*
Providing employees with transparent career paths with growth Counter Offers*
opportunities and supporting and encouraging horizontal growth

leads to sustained success.
Pay Correction*
Organizations must always keep the North Star of solving for future
rather than relying on quick fixes. The jolts of the Great Resignation
are still fresh and would take sustainable measures and investment
Low
in Human Capital. The war can’t be won on cash alone. Now Time Long Term
Attraction Retention Attraction/Retention
*Impact positively in the short term but negatively in the long term

Identifying the Most
In-Demand Skills for 2022

Can Skill Frameworks Be An Answer To Differentiate Key Talent?
As business models see increasing complexity and Aon’s Skill Framework

competing priorities, rewards teams need to develop a
framework to identify and invest in the right skills for
the firm
Rewards professionals have experimented with approaches around Identify org. wide capability
skill-based compensation for a while. A few have adopted “hot skill areas
bonuses,” while others have tried to create pay structures that rely
on differentiated “premium” or “niche ranges.”
In the time it takes for business, acquisition teams, and other Re-asses the feedback
from the pay structures Classify “Skills” into buckets
sensing arms of the organisation to relay the feedback, the market
and calibrate skill and create skill families
has changed. Moreover, the skills are a potpourri of technologies, framework
skills, products, and domain knowledge. If you add to this the war for
digital talent and the need to fight a price battle, it is proving to be a
losing battle for most.
At Aon, we have been helping clients build robust skill frameworks
for decades and are happy to share an approach to managing skills Create Pay structure based Deploy market pricing to
and market pricing for the most in-demand technology and on these categories create categories
operations skills.

Digital Transformation, Automation And Platform Journeys Are
Defining Skill Demand
As firms across sectors and industries are on a path to digital transformation, we notice related skills like cloud development, system integration,
cloud architecture, and enterprise architecture becoming premium with high demand accompanied by difficulties in talent acquisition.
Cloud capabilities skills are categorised as niche and difficult-to-hire due to the move to greater automation and platform creation. Skills like
automation architecture, full-stack development, front end development, AI/machine learning, and technology architecture.
There is a slowdown in demand for difficult-to-hire skills like data science, backend development. The reduced demand will rationalise the cost soon.
Engineering, Data Sciences and Architecture

High Low Low High
Growth in Headcount Ease of Attraction/Retention
Web Development
Mobile Development There is a clear demand-supply gap for the development skills,
Database Development
Backend Development
Frontend Development
with full stack development and cloud development emerging as
System Integration
Cloud Development
the most in-demand skills.
Full stack Development
Similarly, for data science and architecture, there is a demand-
AI/Machine Learning
Data Analytics and Reporting supply imbalance, and we see the rise of automation and platform
Data Science
Business Intelligence journeys defined by their skill demand.
Automation Architecture
Business Architecture
Cloud Architecture
Data Architecture
Enterprise Architecture
Mobile Architecture
Technology Architecture
Project Management
Scrum Masters
High Low Low High

Digital Transformation, Automation And Platform Journeys Are
Defining Skill Demand
Similar to the themes in the Engineering skills, we see skills required GICs, start-ups, and e-commerce are pushing to build platforms, leading
for transformation or cloud management, such as cloud to a sharp increase in demand for graphic designers.
maintenance, GRC, software migration, and network security,
Given the massive growth in the KPO/BPO segment, skills like content
continue to be important in the infrastructure and security space.
management and presentation services are gaining demand.
We also see application security, needed for platform building, enjoy
a premium status.
Infrastructure Support & Security Advertising, Content and Editorial

High Low Low High
Growth in Headcount Ease of Attraction/Retention High Low Low High

Cloud Maintenance/Migration Advertising Technology
Desktop Technical Support Content Management/Editing
End User Technical Support Graphic Designing
Network/DCOPs Technical Support Presentation Services
Security Technical Support Advertising Technology
Software Maintenance/Migration Content Management/Editing
Cloud Maintenance/Migration Graphic Designing
Desktop Technical Support Presentation Services
Application Security
Governance, Risk & Compliance
Identity and Access Management
Infrastructure Security
High Low Low High

New GICs and KPO/BPO-Growth Driving interest in Finance, Tax and
MnA Skills
Along with the activity in the technology sector, we have seen a growing interest among firms setting up their GICs in India to drive better margins
and run their financial shared services out of India.
Outsourcing has led to a temporary increase in competitiveness for roles such as financial planning, regulatory reporting, etc. Roles in voice
operations for tough-to-master languages have commanded a substantial premium for individuals with Mandarin & German proficiency. Skills in
Spanish and French are becoming commoditised.
KPO and the professional services segment are driving demand for skills such as tax advisory, deal strategy and valuation, and mergers and
acquisitions.
Finance, Assurance and Operations
High Low Low High
Growth in Headcount Ease of Attraction/Retention FP&A and Reconciliations have been hard skills to find. The ease
Accounting & Reporting
Standards of attraction and retention have lowered as these skills have seen
Financial Audit/Due Diligence
Financial Controllership massive convergence across industries and employees hopping
Financial Management
Financial Planning & Analysis jobs gathering a contextual understanding of a new industry on
Reconciliation Accounting
the fly.
Underwriting
Mergers and Acquisitions
Regulatory Reporting
Tax Analytics
Taxation: Direct & Indirect
Wealth Advisory
Deal Strategy & Valuation
Deferred Valuation Coasting
French Voice Operations

German Voice Operations
Mandarin Voice Operations
Spanish Voice Operations
High Low Low High

Front office push to middle office increasing demand for risk roles
Along with the activity in the technology sector, we have seen a Risk Management, Retail and Pharma Operations
growing interest among firms setting up their GICs in India to drive
better margins and run their financial shared services out of India. High Low Low High
Outsourcing has led to a temporary increase in competitiveness for Growth in Headcount Ease of Attraction/Retention
roles such as financial planning, regulatory reporting, etc. Roles in Channel Management
Inventory Planning
voice operations for tough-to-master languages have commanded a Retail Design
Retail Operations
substantial premium for individuals with Mandarin & German
proficiency. Skills in Spanish and French are becoming
commoditised. Credit Risk Management
Enterprise Risk Management
Market Risk Management
KPO and the professional services segment are driving demand for Operational Risk Management
skills such as tax advisory, deal strategy and valuation, and mergers
and acquisitions. Clinical Administration & Processing
Medical Coding
Medical Transcription
Product/Medical Research
High Low Low High

Market Risk Management and Credit Risk Management see the
highest growth in headcount in future due the demand created by
Proactive measures to tackle attrition and reduce time to backfill is the
fintech firms. However, these are also the skills that are toughest
need of the hour. Looking beyond the conventional locations needs to be
to hire for, which is causing an imbalance in the banking and on the cards for companies. Deep understanding of the talent landscape
finance sector across Tier 1,2 cities is pivotal for making hiring plans for 2022-2023

Talent Acquisition Trends
with a Focus on Digital
Skills

Winning The War For Talent In The Short Term With A Focus Towards
Buying Talent
Talent acquisition teams have had a tough time in 2021 as they have been asked to replace record attrition while trying
to grow double digit
Talent acquisition has dominated many board room

Top 5 Talent Acquisition Trends
discussions in the last 12-18 months. Organisations
have spoken about talent supply challenges that
have impacted their growth plans.
Recruiters are back-filling for 20-25% of the Technology for assessment and Data analytics and AI to improve
organisation and help build double-digit growth pipeline management funnel and throughput
plans. This insatiable demand (40% of firms) for
hiring in a year has led to the proverbial War for
Talent.
Skilled candidates have had multiple options and Remote and hybrid working as Expanding and reinventing
have often been able to pit one organisation against supply amplifier campus programs
another to negotiate the best deal available for
themselves.
This scramble for the short-term is the outcome of
salary compression as new talent comes in at a
Acqui-hiring, mergers and
substantially higher cost. This buy approach may acquisition for capability
work in the short term, but a build approach and the
campus route are necessary for sustainability.
Cater To A Spectrum Of Candidate Needs
It is clear that in 2021, talent moved to the best bidder. However, All these factors came into play to reduce offer decline rates for all
2022 is different in terms of the expectations of candidates. Higher sectors barring app services/consulting for digital skills. Tech-based start-
compensation remains one of the primary reasons. Candidates are ups have proved to be a lucrative option for tech roles as they provide
looking at organisations from the lens of the brand, term association, quality work, flexible working models, and higher salaries.
value, and cultural alignment. The offer declines have marginally lowered, signalling the dust of the
After long and rigorous interview processes, fatigue has led to “Great Resignation” settling down. The scenario is unchanged for non-
dissent and candidates dropping out at various stages. digital skills.
Offer Decline Ratio for Niche/Digital Skills Offer Decline Ratio for Non - Niche Skills
50%
47%
45% 44%
38%
40% 38%
34% 36% 36%
36% 35%
35% 35%
31%
30% 30% 30%
30% 30% 29%
27%
27% 25%
25% 25% 24%
25% 25%
22%
20% 20% 20% 20% 20% 20%
20% 20% 18% 18% 18%
17%
16%
15%
15% 15% 14%
10% 10%
5% 5%
0% 0%
2021-2022 2020-2021
2021-22 2020-21

Salary Hikes Remain Bullish
All these factors came into play to reduce offer decline rates for all Non-niche skills in financial institutions have doubled the raise offered
sectors barring app services/consulting for digital skills. over last year. Since the loan performance and profitability are improving,
Tech-based start-ups have proved to be a lucrative option for tech finance institutions are investing heavily in niche and non-niche roles.
roles as they provide quality work, flexible working models, and Digitalisation in supply chains within automobile sector and the industry
higher salaries. The offer declines have marginally lowered, moving to 5.0 has made it imperative for organisations to be competitive
signalling the dust of the “Great Resignation” settling down. The in terms of salary hikes.
scenario is unchanged for non-digital skills.
Increase in Raises for Niche/Digital Skills Increase in Raises for Niche/Digital Skills
60%
50%50% 50% 50% 50% 50% 50%50% 50%

50% 47% 47%
45% 45%
40% 40% 41% 40%

40% 40%
35%
35%
35% 32%
30% 31% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
30% 30% 29%
26%
24%
25%
20% 20%
15%
15%
10% 10%
5%
0% 0%
2021-22 2020-21
2021-2022 2020-2021

As firms across the board struggle to minimise offer decline rates, the reasons for However, the trend seems to shift in the Top three reasons for offer declines across
offer declines by candidates have seen to make a shift over the past year. Industry.
Niche talent had better counteroffers across most industries barring software • Having a better offer from another firm has become prevalent. Organisations have
product firms. Organisations tried hard to retain talent to win the talent war on the shifted their view to a 'buy' strategy versus the 'build' strategy. Organisations are
rewards front. Organisations went above and beyond to avoid contextual loss and relooking their pay bands to accommodate new hires and existing employees.
costs of backfill. • The ripple effect is seen across industries such as app services, BPOs, e-commerce,
and start-ups.
• Low offers made have predominantly retained the rank across most sectors
Reasons cited for Offer Declines – Niche Skills
App.
Consulting
Industries have not seen a
Low Offer Made 3
3 33 33 33 33 3
73 3
3 17 3
7 32 3
36 33
8 3
3
5 36
3 3
3 33 36
8 7 huge shift in the reasons
Got a better counteroffer cited for offer declines,
2 11 11 22 11 42
2 1
2 12 5
1 12 23 113 2
4
1 1
12 2
5 1
25 28
(existing firm) however there is a change
Got a better offer from 11 11 22 11 22 11 2
1 13 1
2 22 111 111 1
2 11 11 111 11 in ranks from getting a
another firm better offer from another
7 99 55 5 66 62 9 99
Poor candidate experience 5 7
27 9
1 55 6
2 45 62
7 691 7
3 9 7
2 2 73 firm, to getting better
offer at current firm. This
Hiring process was longer 6 55 5
5 5
5 44 4
54 4
1 58 6
7 45 47
6 45
7 4
6
7 46
5 8
6
6 55
8 5
7
indicates that
Work Culture not being a fit 7
7 44 55 9
9 66 6
76 7
1
53 4
6 45 68
7 64
6 7
7
8 66
4 4
7
7
74
3
43 organizations are trying to
Negative Social Media retain talent through
5 7 5 5 5 9
2 4 4 4 4 9 6 4 6 6 4 5
reviews 5 7 5 5 5 9 5 1 2 1 54 7
4 5
2 7
2 5
3 7
3 2 better counter-offers
Pressure created to accept 7 77 4 8 99 7 96 62 4 57
4 5
65 3 6
2 45 8
7
4 67
5 7
5 7 7
4 6 7
5
or decline the offer
Lack of quality 4
4 55 5
5 4
4 66 7 3
4 56 2
6 45 4
4
5 45
5 4
5
6 5
42 4
4
6 75
6 5
9
of work
Rank in 2021-2022 Rank in 2020-2021

After the dominant compensation-based reasons, quality of work has emerged as • Some intriguing trends emerge from a sectorial cut of the data – spilling over the
the reason for offer declines in sectors like app services/consulting, BFSI interview process even for non-niche roles has been sighted as a reason for offer
Captives, engineering and manufacturing, and retail and FMCG. declines. Post-pandemic stress has led candidates to explore short and quick process.
Negative reviews on online portals and social media have been alarming in sectors • Higher focus on cash components has continued to be the reason for offer declines.
like automotive and software products companies. Getting better offers moved ranks in retail & FMCG and GICs compared to last year.
• Getting better offers from the current firm has taken a back seat, especially in financial
institutions. The trickle effect is more candidates hunting for jobs and bagging multiple
job offers.
Reasons cited for Offer Declines – Niche Skills
App.
Consulting
Candidates are
Low Offer Made 3
3 33 33 33 33 3
73 3
3 37 1
7 32 3
36 33
8 2
3
5 36
3 3
3 33 36
8 7 negotiating hard on salary
Got a better counteroffer numbers leaving
2 21 21 12 21 12
4 1
2 12 5
1 12 2
13 113 2
4
1 1
12 2
5 1
25 28
(existing firm) organizations less leeway
Got a better offer from 11 11 12 11 12 11 2
1 13 11 22 111 211 1
2 21 11 111 11 to fit candidates in pre-set
another firm comp bands.
Poor candidate experience 7 59 45 6
5 36 9
27 7
1 45 4
2 65 62
7 491 6
7
3 72
9 7 89 73
2 2
Hiring process was longer 9

6 75 8
5 4
5 34 6
54 4
1 78 4
7 65 47
6 55
7 4
6
7 46
5 7
6
6 65
8 4
7
Work Culture not being a fit 7

7 74 45 6
9 36 4
76 7
1
43 4
6 45 48
7 84
6 6
7
8 76
4 4
7 44
3
73
7
Negative Social Media 5 7
5 5 4 7
2 5 4 4 4 4 9 6 4 4 4 5
reviews 5 7 5 5 5 9 5 1 2 1 54 7
4 5
2 7
2 5
3 7
3 2
Pressure created to accept 5
7 77 4 6
8 99 7 76 4 62 4 77
4 7
65 3 4
2 65 9
7
4 57
5 7
5 7 7
4 6 5
5
or decline the offer
Lack of quality 4
4 45 5
8 4
6 76 4 3
5 96 2
4 65 4
4
6 55
5 4
5
6 5
72 4
4
6 65
6 5
7
of work
Rank in 2021-2022 Rank in 2020-2021

Rethink Location Strategy
to Increase Talent Access

Rethink Location Strategy To Increase Talent Supply And Leverage
Hybrid Work Models
As talent supply remains a constraint going beyond traditional hubs for talent is becoming a key imperative for
organisations in 2022
Acquiring digital skillsets for both new age and Top 5 sectors that have adopted remote working models
traditional sectors has been the focus of the war for
talent. Gaps in supply and demand will continue to
drive up people costs and attrition. Hi-Tech and
Information
Companies should look for innovative models to Ecommerce & Technology
expand the talent pool and deploy talent in remote Startup Sector
working models by assessing talent in tier II or non- Professional
traditional locations. Services/Consu
IT Enables lting
Mumbai is the hub for financial services talent and Services
Bangalore for technology talent. Now, while these Financial
locations promise to supply, the markets in these Services
locations are highly competitive, thus increasing
talent cost and uncertainty. Business leaders must
think beyond these hubs and decongest to de-risk
the supply side of the business.

Location Strategy To Accentuate Talent Supply
Development engineering and data analytics are in significant demand across organisations which points to notable investment in the transformation
journey across traditional organisations and a rapid growth focus within the early-stage organisation. While Delhi and Bangalore prevail in the
catchment area for the best talent, organisations can do better by moving away from the traditional strongholds and foraying into cities like
Hyderabad, Chennai, and Pune.
Development and Engineering AI/ML and Data Science Engineering
Bangalore Chennai Delhi Hyderabad Kolkata Mumbai Pune Non-Metro Bangalore Chennai Delhi Hyderabad Kolkata Mumbai Pune Non-Metro
Growth in Ease of
Headcount Attraction/Retention

With remote work becoming popular among talent, organisations can bet on the newer locations to suit their talent requirements. Kolkata,
Hyderabad, Chennai, and Pune see an increase in popularity as talent-rich areas. Non-metros have always had popularity in industry segments like
KPOs but are also seeing a surge in talent availability from an engineering standpoint.
Architecture Project Management
Growth in Ease of

Security and infrastructure remain a focal point, owing to the rise of remote working due to the pandemic. It is interesting to note that non-metros
and cities like Pune, Kolkata, and Hyderabad are strongholds for talent in security and infrastructure. The presence of KPOs and captives in such
locations are the attributing factors.
Security Infrastructure
Growth in Ease of

Finance/accounting is a function that is essentially industry agnostic and is available across locations without being a significant challenge for
organisations to hire talent in the space. Risk management (part of captive setups) sees a noteworthy talent availability in Chennai, Hyderabad, and
Pune. Bangalore and Delhi display a significant demand for these roles. However, the talent supply gap seems to be met by other locations.
Finance/Accounting Risk Management
Growth in Ease of

KPOs and professional services see a need for content services to keep up with growing demand owing to the setup of captives across India. It is
interesting to note that content services are seeing an escalating spike in talent supply across locations, except for the Delhi – NCR region. Medical
Ops continues to be a tenuous point for pharma organisations and sees availability in captive hubs like Delhi, Kolkata, Pune, etc.
Content Services Medical Ops
Growth in Ease of

Retail ops and voice ops are considered a captive necessity and are conveniently available in traditional bastions like Delhi, Hyderabad, Kolkata,
Pune, and non-metros. With remote accessibility, these job positions are seeing an increase in presence in non–metros, which will only add to the
talent available for such job functions in days to come.
Retail Ops Voice Ops
Growth in Ease of

Reimagining EVP to Plan for
Long-Term Sustainability

Looking Beyond Rewards For Long Term Sustainability
Today’s employee base is heterogeneous, meaning firms need to segment and create customised experiences for
employees to generate stickiness
Organisations across the board realize that the current operating Lately, there is more realisation around this, and companies have started
model is not sustainable in the long run. Research shows that a looking beyond cash to explore ways to reassess rewards strategy in the
short-term cost-focused approach has limited success in the long form of the talent market and positioning. Firms consider benefits as the
term. key differentiators, such as financial security and wellness.
There is also a realisation that organisations have over-leveraged the Organisations are also revisiting EVP/culture manifestation to improve
cash component without enough focus on benefits, work brand perception and create stickiness with existing employees.
environment, and long-term employee growth for talent acquisition
and retention.
Priorities for CHROs in 2022 and beyond

25%
22%
21%
20% 19%
15%
10% 8%
7% 7%
7%
6%
5%
2%
0%
Reasses Career Architecture EVP/Culture Extend Equity Participation Improve hiring process Re-asses Rewards Strategy Re-look benefits portfolio Alternate models like WFH/Hybrid Skill Framework Talent upskilling

Rewards Philosophy As A Key Differentiator
To accommodate new hires, most organisations start by increasing new hiring ranges to improve affordability. They have shown flexibility to
approve higher compare-ratios. Another prevalent practice is restructuring joining bonuses and increasing the quantum while the pay-out happens
over multiple years.
Reassess rewards for new hires
120%
2020-2021
2021-2022
100% 100%
100%
95%
92%
91% 90%
80%
70%
60%
56%
52%
45%
40%
40% 36%
34%
22%
20%
0%
Flexible Equity Grant Suspending internal equity checks Joining bonus grant - Multi-year structure Fix Grade/Level basis Compensation Joining bonus grant - Increase in quantum Approve higher compa-ratios for new hires. Increasing ranges to accommodate new hires

Rewards Philosophy As A Key Differentiator
Across sectors, more than 55% of the respondents have adjusted positioning for new hires or niche talent.
• Non-natives such as BFSI captives, KPO/BPO, and financial institutions are hiring digital talent at scale have seen the need to increase positioning
for Digital
• Digital natives such as IT Services, products, and start-ups are the segments that have had to revisit their new hire philosophy the most to stem
attrition
Reassess positioning in response to solve talent challenges
60%
53%
50%
50% 47%
47%
44%
40%
40% 38% 38% 38%
37%
35% 35%
33% 34%
32%
30%
30% 28%
27% 27% 26%
25% 25%
23% 23%
22%
20%
20% 17%
17% 16%
13% 13%
12%
10%
10%
6%
5% 5% 5%
3%
0% 0%
0%
Application Services/Consulting Automotive/Vehicle BFSI Captive Engineering/Manufacturing Financial Institutions Retail/FMCG/FMCD GICs/GCCs KPO/BPO Software Products Start-Ups/E-commerce
Manufacturing
Continue to benchmark Increase percentile across Specific Increase percentile positioning Increasing percentile positioning
to existing market grades/levels across all jobs and across Niche/Digital Jobs and across all job and functions
percentile positioning functions functions

Reassessing Comparator Baskets To Adapt To Changing Talent
Requirements
A noteworthy observation is that organizations across industry While organizations across sectors have experimented with the peer
domains have either changed or are exploring change in comparator basket, captives and engineering/manufacturing setups have seen a
baskets. major change owing to higher attrition, better pay structure and a more
aggressive pay mix especially catering to the younger talent
While one of the factors can be the growth that organizations are
demographics.
keen on pursuing, as seen in the year 2021, but the change and its
intent can also be attributed to the shortage of talent in the KPOs and BPOs were the forerunners in augmenting the pay positioning
traditional bastions especially for the niche and neo-niche talent. by choosing for a higher percentile pegging their internal medians across
levels and across functions. What is important to note is that the war for
talent rages on.
80%
70%
69%
Guerrilla Warfare for
63%
60% 58%
talent has made it
42%
52% imperative for
50% 42%
44% 44%
organisations to look at
40%
42%
37% 38% 38% 38% 38%
39% multiple levers of
36%
30%
retention and attraction.
30%
30%
25% The measures taken by
20%
23% 19%
17%
21%
19% 19%
21%
16% 19% organisations are a
12%
13% function of maturity and
10%
long-term vision. The
0% rewards philosophy must
Application
Services/Consulting
Automotive/Vehicle
Manufacturing
BFSI Captive Engineering/Manufacturing Financial Institutions Retail/FMCG/FMCD GICs/GCCs KPO/BPO Software Products Start-Ups/E-commerce
evolve and be conducive
to growth and scale.
Remained Unchanged Moderate change to include Extensive changes to relook at the companies
specific organizations where talent exchange is happening

Call to Action
While there is uncertainty, the market for The buy model is not sustainable in the
Niche Skill is still hot, identify and ring long run and firms will need to reassess
fence your talent at the earliest critical areas of talent philosophy from
EVP to Total Rewards
Remote and hybrid work present a great

opportunity to increase the funnel, take
advantage and look outside traditional
locations for talent

Participants Profile
300+ participants across 20+ sectors
2020 Inc. Arcadis GEC India Airbnb Capability Center Bain Capability Center
24-7 Intouch India Pvt Ltd Arctern Alation BCG
7 Eleven Corporate Services India LLP Ashok Leyland Align Technology Bechtel India
75F ASICS India Private Limited Allianz Technology Behr-Hella Thermocontrol
AAM INDIA AstraZeneca India Pvt Ltd Allstate India Bekaert Industries Pvt Ltd
ABPL AT&T Amazon Berkadia
Accenture Athena Health Technology Private Limited Amdocs BFL AF
Accurio Health Private LTD Aurigene Pharmaceuticals Private Limited Analog Devices India Private Limited Binary Stream Software
ACG Automation Anywhere Angelique International Limited BITS Pilani Hyderabad Campus
Acuity Knowledge Partners Axalta Coating Systems India Pvt. Ltd. Antonywaste handling cell limited BlackRock
Adani Electricity Mumbai Ltd Axis Asset Management Company Ltd. AP Moller Maersk Blue Yonder
Advance Auto Parts Ayurvet Limited API Holdings Pvt Ltd BNY Mellon
Aegon Life Basware India Private Limited Airbnb Capability Center Bain Capability Center
Agoda Baxter Alation BCG

Boehringer Ingelheim Denali AI India Pvt Ltd Colgate Global Business Services Epsilon India
Bosch Global Software Technologies Deutsche Bank Group CommScope Eptisa India Private Limited
Continental Automotive Components

Bread Financial Deutsche India Private Limited Ericsson India Global
(India) Pvt Limited
Bureau Veritas Diageo Business Services India Corning Technologies India Pvt Ltd EXL
Caparo Engineering India Ltd. Digital Harbor Pvt Ltd Credit Suisse India Expleo
Capgemini India DTDL Crimsonlogic India Pvt LTd EYGDS
Capgemini Technology Service India Ltd Eastman CRISIL Limited FAI First American India
Caterpillar EC Group Datasoft Pvt. Ltd. Cvent India Pvt Ltd Ferns N Petals Pvt Ltd
CavinKare Pvt Ltd Edelweiss Tokio Life Insurance D J Sanghvi College of Engineering Ferrero India Pvt Limited
Celona Networks Pvt Ltd EdgeVerveSystems Limited Dabur India Ltd FICO
Deloitte Consulting India Pvt, Ltd. FIL India Business and Research
Classis Travel and Tour Egon Zender
(Offices of the US) Services Private Limited
Deluxe Entertainment Distribution India Private

Clifford Chance Enabl Engineering Private Limited Fino
Limited
CNH Industrial Ensono Colgate Global Business Services Epsilon India
Cognizant Epiance Software Pvt Ltd CommScope Eptisa India Private Limited
Flatworld Solutions HPHDP GRP Limited Infinera Corporation
Freecharge Hudson's Bay Company GSK Consumer Healthcare Infogain
Freight Tiger Huron Eurasia India Pvt Limited GSK GCC Infor India Pvt Ltd
GE Renewable Energy ICE H5 Asia Pacific Pvt Ltd Infosys Limited
Genpact ICICI Venture Funds Management Co. Ltd. Harman International InMobi
GEP Worldwide IHH Healthcare India Hays Business Solutions Pvt. Ltd. Innovatia
Giveplease Pte Ltd Incedo HealthifyMe Private Limited IntelliSmart Infrastructure Pvt. Ltd.
GlobalFoundries Inc Indag Heat and Control (South Asia) Pvt Ltd Intuit
Google Indegene HERE Technologies Invesco India Private Ltd
Goto Indira IVF Hetero Labs Limited ION Exchange India Ltd
Grant Thornton (GT INDUS) Indus Valley Partners Ltd. Hilti Manufacturing India IQVIA
Great West Global Infineon Technologies Hilti Technology Solutions India Pvt. Ltd ITC Limited

JCAPCPL Meredith India Services Pvt. Ltd. LMW LTD Muthoot Microfin Limited
JCPenney Micron Lowes India Services Private Ltd Mxplayer
JLL Midland Credit Management Lupin Limited Nasdaq, Inc.
National Commodities Management

John Deere Miller Knoll Maersk
Services Limited
Joydeep Consulting Servcies Mindcrest India Pvt. Ltd. Manhattan Associates NetScout Systems
Kelvion India Pvt Ltd MiQ Digital India Pvt Ltd Manipal Technologies Limited Neuberger Berman
KHS Machinery Mizuho Securities India Private Limited Marks & Spencer Reliance India NewGlobe Education
Kotak Mahindra Bank Mobis India Ltd MatchMove Niche Consulting Services
KPIT Tecnologies Ltd. Moody's Corporation Materials info consultancy private Limited Novartis Healthcare Private Limited
L&T EduTech More Retail Mavenick Consulting Private Limited Novo Nordisk
Lear Automotive India Pvt Ltd Morningstar India Mavenir nurture.farm
Lee Kum Kee Int'l Holdings Limited Mphasis MediaTek NVIDIA
Mercedes Benz Research and

Lifestyle International Pvt Ltd Murata Electronics India Pvt. Ltd NXP
Development India

o9solutions Quinnox Consultancy Services Limited Perceptiviti Salesforce
Ocwen Quotient Technology India Pvt Ltd Persistent Systems Ltd SAP Fioneer
Olam Information Services Limited Rambus Chip Technologies Petrofac Sbi card
OneAssist Consumer Solutions Pvt Ltd Randstad RiseSmart PlaceNet Consultants SBI Foundation
Onmobile Global Limited Rapido Premier Research SBI General Insurance
onsemi Regal India Pvt limited Prodapt Solutions SCALENETWORK
OpenText Religare Housing Development Finanace Corp. Ltd. Publicis Sapient Schlumberger
Opus Consulting Solutions Inc. Rio Tinto India Private Limited PwC Acceleration Center Scriptifi
Panacea Medical Technologies Pvt Ltd ROHM Semiconductor Indi Pvt Ltd Qualcomm India Pvt Ltd SE2 Digital Service
Parker Hannifin India Pvt Ltd Rx Propellant Asset Advisors Pvt. Ltd. Qualesce India Private Limited ServiceNow
Path SABIC Quantela Inc Servier India Private Limited
Patra Corp Sakhatech Information Systems Private Limited Quantiphi Analytics SiFive
PayNearby Saks OFF 5TH Qube Cinema Signify

SJA Group of Companies TurboHire Tapclicks Volvo Group India
SLK Group TurnKey Solutions Private Limited TaskUs Wells Fargo
SNC Lavalin UKG Tata Consulting Engineers Wind world India Ltd ( Enercon GmbH)
Societe Generale GSC Pvt Ltd Unisys India Private Limited Tata health Wipro Limited
United Airlines Business

Sopra Steria India Tata Hitachi WNS Global Services
Services Private Limited
Soroco Varroc Group Tavant WonderBiz Technologies
Wood India Engineering &

Srei Equipment Finance Ltd. Verifone India Technology Private Ltd Tecnotree
Projects Private Limited
State Street Verizon Texas Instruments WPA World Class Services India Pvt Ltd
Sterlite Power Vistaar Systems Pvt Ltd The Smart Cube WSP India
STL - Sterlite Tech Vitesco Technologies Toppan Merrill Xiphias Software Technologies Pvt Ltd
Sunprime Energy Solutions Pvt. ltd. VMware, Inc. Toshiba Software India Pvt. Ltd., Yash Technologies
Swiss Re Vodafone Idea Triveni Turbine Limited Yes Securities

Thank You

For queries and concerns reach out to:
aaradhya.sharma@aon.com
sana.ashish.parikh@aon.com

Aon India Talent Entropy Survey

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Aon India Talent Entropy Survey

Uploaded by

Copyright:

Available Formats

Aon India’s Talent

Aon India’s Talent Entropy Study 2022 2

Number of Respondents (Ns) across each question in the survey are

Aon India’s Talent Entropy Study 2022 3

90% Reassess Rewards Strategy

Re-look at Benefits Portfolio

Chennai Pune Delhi NCR

Aon India’s Talent Entropy Study 2022 4

Aon India’s Talent Entropy Study 2022 5

Anirban Gupta Jang Bahadur Aaradhya Sana Parikh Sneh Shah

Aon India’s Talent Entropy Study 2022 6

Aon India’s Talent Entropy Study 2022 7

relaxed monetary polices of governments has meant that 3.8

A sectorial outlook gives some confidence to the industry.

Aon India’s Talent Entropy Study 2022 8

1983 – Costco, SMS's Club 2008 – Airbnb, Lego

1975 1983 2003 2008 2022

Aon India’s Talent Entropy Study 2022 9

Aon India’s Talent Entropy Study 2022 11

Aon India’s Talent Entropy Study 2022 12

The last 18 months have been unchartered for firms

Aon India’s Talent Entropy Study 2022 13

Attrition trends for Niche/Digital skills

Aon India’s Talent Entropy Study 2022 14

The insights for non-niche talent are relatively different:

Attrition Trends for Non-Niche Skills

An analysis of the attrition

20% 20% 19% 20%

Aon India’s Talent Entropy Study 2022 15

Retention measures’ preference order for Niche Skills

App. One trend being reflected

Out of Cycle Promotion 6 5 5 3 3 5 3 6 2 5 4 5 5 2 4 6 5

Aon India’s Talent Entropy Study 2022 16

Retention measures’ preference order for Niche Skills

Aon India’s Talent Entropy Study 2022 17

2021-22 2020-21 2021-2022 2020-2021

Aon India’s Talent Entropy Study 2022 18

2021-22 2020-21 2021-2022 2020-2021

Aon India’s Talent Entropy Study 2022 19

and now. Improve Candidate

However, our data shows that successful organisations take a long-

term perspective and “Build to Last.” Organisations that invest in

opportunities and supporting and encouraging horizontal growth

Attraction Retention Attraction/Retention

Aon India’s Talent Entropy Study 2022 21

Aon India’s Talent Entropy Study 2022 22

As business models see increasing complexity and Aon’s Skill Framework

Aon India’s Talent Entropy Study 2022 23

Engineering, Data Sciences and Architecture

High Low Low High

Aon India’s Talent Entropy Study 2022 24

Infrastructure Support & Security Advertising, Content and Editorial

Growth in Headcount Ease of Attraction/Retention High Low Low High

High Low Low High

Aon India’s Talent Entropy Study 2022 25

French Voice Operations

High Low Low High

High Low Low High

Aon India’s Talent Entropy Study 2022 27

Aon India’s Talent Entropy Study 2022 28

Talent acquisition has dominated many board room

Aon India’s Talent Entropy Study 2022 30

50%50% 50% 50% 50% 50% 50%50% 50%