E-commerce companies in India maybe struggling to grow sustainably and profitably but they are paying their mid- and senior-level executives more than the companies in other sectors, according to a study by Randstad India.
The online retailers have even overtaken software services companies when it comes to average annual cost to company for mid- and senior-level executives, the study found.
According to the HR services and staffing firm, the average cost to company for mid-level talent, with six to 15 years of experience, at e-commerce companies is Rs 13 lakh. Senior-level executives in e-commerce earn Rs 34 lakh on an average, the study found.
The Randstad study is the latest indication of the efforts e-commerce companies are making to attract and retain talent. Earlier this year, a survey by talent solutions provider Aon Hewitt India had said that consumer Internet companies will give an average pay hike of 12.4% in 2017 – the highest in the industry.
Randstad surveyed 100,000 jobs across 20 industry verticals and 15 core functions.
The study showed also that fast-moving consumer goods companies are the best paymasters on a per-employee basis, doling out Rs 11.3 lakh on an average. Bengaluru, India’s IT capital, emerged as the city with the highest annual per-capita cost to company.
“In a country like India where job loyalty is considerably low, salary becomes one of the most critical parameters that the workforce takes into consideration while changing jobs,” says Moorthy K. Uppaluri, managing director and CEO, Randstad India.
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