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Manning Retail - Hay Group Indian Retail Sector Study 2009

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Hay Group - a global managment consulting firm provides several advisory services for various organisations. Compensation and Benefits studies is one of our core practices. Currently I am conducting a …

Hay Group - a global managment consulting firm provides several advisory services for various organisations. Compensation and Benefits studies is one of our core practices. Currently I am conducting a Compensation & Benefits Study for Retail sector based on the latent need. Details regarding the scope of the study is encompassed in this document. Feel free to contact me for any queries.

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  • 1. Manning Retail Indian Retail Sector Study 2009
  • 2. Objective of the study The objective of this survey is to provide reliable market data to the retail sector in India on : - Trends in Extrinsic Rewards i.e. Fixed Compensation, Variable Pay, Benefits - Trends in Intrinsic Rewards i.e. Culture Building Practices, Flexi benefits - Trends in Attrition & Retention - Impact of economic downturn Which shall in turn help organisations to : Track compensation and benefit practices specific to the industry Align their current reward structure to the current economic scenario, to effectively attract and retain talent 2 © 2008 Hay Group. All Rights Reserved
  • 3. About HayGroup Hay Group is a global management consulting firm. We provide advisory services across key human resource and management areas . One of our core strengths is rewards consulting and conducting benchmarking assignments in compensation and benefits. We have over 2600 employees working in 88 offices in 47 countries. We help clients translate strategy into action We help clients make insightful decisions We help organizations develop and retain world-class talent and leaders We help clients mobilize people to achieve business goals We help organizations to effectively implement and sustain our recommendations 3 © 2008 Hay Group. All Rights Reserved
  • 4. Reward Information Services Reward Information Services exists to provide reward information services to clients based on high quality databases and consistent methodologies Global Mission - We deliver the best information solutions that support the daily and strategic rewards decision making processes of our clients. We do this in a manner which generates organization specific insight and value by truly integrating with a client’s business Our global databases represent more than 7 million employees from nearly 13,000 organizations in over 90 countries worldwide (over 60 on PayNet) Over 500 of the Fortune 1000 are our clients Data available for over 100 countries and interactive (PayNet) databases in over 70. The number of companies in our global databases increased by 14% and the number of incumbents by 19% this year. In India we have a Live Database of 163+ companies with over 91,000 incumbent wise data 4 © 2008 Hay Group. All Rights Reserved
  • 5. Data Collection & Confidentiality Hay Group collects data 3 times a year to have the most updated market data • All incumbent data is collected. We do not collect ranges • Extremely stringent and globally consistent confidentiality norms • No individual organization’s data will be shared publicly or with the other • participants Market calculations are based on data suppression rules to ensure that the • statistics are representative of the market and not an individual company’s information We also sign Non-Disclosure Agreement with the participating companies • 5 © 2008 Hay Group. All Rights Reserved
  • 6. Total Rewards Approach – Reward Elements • Life Style • Work climate • Future Perspective Emotional Rewards • Quality of work Total Intrinsic •Training & Value Addition Development Internal Value Or • Phone R Motivation • Cars Active E • Clubs Benefits REWARDS • Discounts M TOTAL U • Retirement Passive N • Health and Welfare Benefits EXTRINSIC • Holidays E R Long Term • Stock C All components to Incentives TOTAL • Performance Shares A O which we can M DIRECT T P assign a monetary E value I • Annual Incentive N Short Term Variable T C S • Bonus O A O A T T S N I • Base Salary A H O Guaranteed Cash • Allowances N L 6 © 2008 Hay Group. All Rights Reserved
  • 7. Profile of the study • No. of participants: 60+ key players from the retail sector • Formats covered: Hypermarkets, Supermarkets, Department Stores, Specialty Stores & Single Brand Stores Benefits to the participants: • A Complimentary Report consisting of: - Trends in Extrinsic Rewards i.e. Fixed Compensation, VariablePay, Benefits - Trends in Intrinsic Rewards i.e. Culture Building Practices, Flexi benefits - Trends in Attrition & Retention - Impact of economic downturn • ½ Day Job Mapping session and individual company job matrix using the scientific approach based on Job Evaluation principles 7 © 2008 Hay Group. All Rights Reserved
  • 8. PROPOSITION & TIMELINE
  • 9. Study Proposition THREE key stages: DATA ANALYSIS & COMMUNICATION GATHERING RESULTS • Individual participants - • Data collection across • Analyze the collected data Build clarification components of pay and information benefits policies • Managing expectation • Sector Report • Data verification and validation • Presentation of Findings JOB MAPPINGSM • Conduct Job MappingSM Session 9 © 2008 Hay Group. All Rights Reserved
  • 10. Timeline Activity Deadline Participation Solicitation 30th January 2009 Data Collection 20th March 2009 Quality Assurance & Data Analysis 31st March 2009 Report Publication 01st April 2009 10 © 2008 Hay Group. All Rights Reserved
  • 11. METHODOLOGY
  • 12. Methodology Job Evaluation (HayGroup Method) Job Matching JobMappingSM with Clients time with job structured approach descriptions and evaluated job descriptions Job Status (HayGroup Method) (hierarchically) matching Job Title matching Value Add 12 © 2008 Hay Group. All Rights Reserved
  • 13. Job Mapping in today’s Value Chain • Freedom to act • Magnitude • Impact Accountability Know-How Problem solving • Technical know how • Breadth of Management • Human relations skills • Thinking challenge • Thinking environment 13 © 2008 Hay Group. All Rights Reserved
  • 14. Methodology - How Job MappingSM is different from others? - Compare different job family Retail Merchandise HR Jobs Operations Operations Jobs Jobs Level 18 Job 3 Job 3 Level 17 Job 2 Job 3 Level 16 Job 2 Level 15 Job 1 Job 2 Job 1 Level 14 Job 1 14 © 2008 Hay Group. All Rights Reserved
  • 15. Methodology - How Job MappingSM is different from others? - Compare among same job family with different organization HR Jobs in Org A HR Jobs in Org B HR Jobs in Org C Level 18 Job 3 Job 3 Level 17 Job 2 Job 3 Level 16 Job 2 Level 15 Job 1 Job 2 Job 1 Level 14 Job 1 15 © 2008 Hay Group. All Rights Reserved
  • 16. Job Family Analysis Methodology Individual jobs are grouped into Hay Standard Reference Level which are considered to be of similar job size Asst Store Manager Production Planner Customer Service Dept Manager HR Specialist Import/Export Supervisor Executive Sec Sourcing Assistant Store MT Account Executive Unit supervisor Secretary Finance Exec Cust Service Assoc Policy Service Exec Warehouse Supervisor Account Asst 12 13 14 15 Job Size 16 © 2008 Hay Group. All Rights Reserved
  • 17. Job Family Analysis methodology Individual jobs are grouped into Hay Standard Reference Level which are considered to be of similar job size. For each Job Family , the average of the salaries within each Hay Standard Reference Level for all jobs submitted by each companies is calculated. Using “Five-Value Approach”, up to 5 percentile values will be calculated for the − same job family for each organization at each Hay Standard Reference Level The resulting salaries within each Hay Standard Reference Level are ranked and percentiles calculated to create the market for the particular job family For each job family, the ranked percentiles at each Hay Standard Reference Level are then connected for graphic presentation 17 © 2008 Hay Group. All Rights Reserved
  • 18. DELIVERABLES
  • 19. Deliverables 1. JobMappingSM Session and a defined Job Matrix for each participating company 2. Complimentary Indian Retail Sector Study Report 2009 – Manning Retail 19 © 2008 Hay Group. All Rights Reserved
  • 20. Deliverables 1 – Job Matrix (Sample) Ref Level Operations HR Finance Logistics District Manager Head of HR Financial Controller Manager logistics 19 Operations Regional Manager 18 C&B Manager Accountant 17 Store Manager Training & Management Warehouse Manager Development Account 16 Specialist 15 Assistant Store Manager Senior HR Executive Warehouse 14 Supervisor Store MT HR Executive Account Executive Unit Supervisor 13 20 © 2008 Hay Group. All Rights Reserved
  • 21. Deliverables 2 – Indian Retail Sector Study Report 2009 The report will include: • Participant Profile – Ownership, Format Type, Employee Size, Revenue Group, No.of Stores • Salary movements & forecasts - Job family wise trends – by Management levels - Compensation data with market statistics based on data sufficiency for Base Salary, Total Cash, Total Remuneration-CTC) - Merchandising Operations /Category Management - Logistics / Supply Chain - Design - Location wise trends – by Management levels - City wise compensation trends - Format wise trends – by Management levels - Format wise compensation trends - Average area sq ft market practice 21 © 2008 Hay Group. All Rights Reserved
  • 22. Deliverables 2 (continued) • Variable pay trends – by Management levels • Allowances – Prevalence information • Benefits Overview for 15 critical benefits in the Indian context (Leave, Entry level, Locational Difference , Travel, Retention & Incentives, Insurance, Special Allowances in the sector and so on) • Impact of Economic Downturn Analysis - Economic Uncertainly Survey Results – 2008 – 09 - HR & Reward practices adopted by companies to respond to the challenges of the downturn 22 © 2008 Hay Group. All Rights Reserved
  • 23. RSVP 23 © 2008 Hay Group. All Rights Reserved