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<keyword id="6462982" type="COMPANY" weightage="100" keywordseo="Aon-Hewitt">Aon Hewitt</keyword> today announced its acquisition of CoCubes, a leading hiring assessment company based in India. With this transaction, Aon Hewitt adds two million assessments to its existing global portfolio of 20 million assessments spread across 164 countries. 
 
Aon Hewitt, one of the earliest solution providers in selection and assessment, helps organizations make better hiring decisions and improve performance by predicting the success of their potential and current employees. CoCubes, on the other hand, connects colleges, students, and corporates using assessments; to create a seamless entry-level hiring ecosystem. 
 <keyword id="166440" type="PERSON" weightage="20" keywordseo="Sandeep-Chaudhary">Sandeep Chaudhary</keyword>, CEO, India Consulting, Aon Hewitt, shared, “We were actively looking for an organization that focuses on employability assessments. CoCubes stood out for us as a successful startup with its profitable growth, resilient leadership team, and an innovative technology platform. With its strong client standing and value-aligned leadership, CoCubes is clearly our partner of choice to augment our assessment solutions in India and across other markets in <keyword id="119132" type="COMPANY" weightage="20" keywordseo="Asia-Pacific">Asia Pacific</keyword>.” 
 “With the acquisition of CoCubes, we will now be a one-stop-shop for entry-level hiring assessment solutions. CoCubes complements our specialization in behavioral and leadership assessments with technical and vocational assessments, in addition to its innovative proctoring solutions. By solving the employability challenge with educational institutions and sector skill councils, Aon Hewitt is now geared to fulfill the entry level hiring needs for corporate clients.” said <keyword id="211396" type="PERSON" weightage="20" keywordseo="Nitin-Sethi">Nitin Sethi</keyword>, Partner and Chief Commercial Officer, India Consulting, Aon Hewitt. 
 The CoCubes founders, <keyword id="143051" type="PERSON" weightage="20" keywordseo="Harpreet-Singh">Harpreet Singh</keyword> and <keyword id="2188847" type="UNKNOWN" weightage="20" keywordseo="Vibhore-Goyal">Vibhore Goyal</keyword>, will continue to lead the business as a separate practice line and will join Aon Hewitt’s Talent, Rewards and Performance (<keyword id="20751" type="ORGANIZATION" weightage="20" keywordseo="TRP">TRP</keyword>) vertical, reporting to Nitin Sethi.

Aon Hewitt acquires CoCubes, a hiring assessments company

The <keyword id="78687" type="PERSON" weightage="20" keywordseo="Life-Sciences">Life Sciences</keyword> sector in India has seen significant growth in the last decade contributing to the country’s overall economic growth story. This growth can be attributed to many factors such as the improving quality of living, changing demographic profile, the rise in prevalence of lifestyle diseases, the low cost of production and the availability of technical talent. The growing pace of medical tourism and increased public spending in healthcare are opportunity areas for this sector. 
 
Over the last few years, the rise of this sector has seen a slight fall due to pricing and cost pressures and continued consolidation. Therefore, there is an increased focus on making the value chain efficient and becoming future proof by building research and innovation capabilities. 
 
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According to Aon Hewitt’s 21st India Annual Salary Increase Survey, from a rewards perspective, there is going to be fall in projected salary increase for 2017. This is in tune with the fall in overall salary increase projection across all the industries for India region. 
 
Pharmaceutical: 
 
The Indian Pharmaceutical industry grew at a CAGR of 17.46 % from 2005 to 2016. Currently, the size of the sector is around USD 36.7 billion and is expected to grow at a CAGR of 14.5% over the next few years. 
 However, 2016 hasn’t been a stellar year for the <keyword id="53769" type="UNKNOWN" weightage="20" keywordseo="Pharma-industry">Pharma Industry</keyword> with uncertainty in drug pricing in the US which saw a price deflation of generics affecting leading Indian Pharmaceutical companies which manufacture a significant proportion of generics for the world from India. In the domestic market, organizations have tried to scale up their value chain presence, but these moves are expected to reap benefits in the long term. 
 
Therefore, heading into 2017, there is a strong focus on capability building, specific focus on high-performing therapy areas and improving research capability to drive growth while keeping a watchful eye on the bottom-line. 
 
Medical Technology: 
 
The Indian Medical Technology sector is expected to reach USD 8.6 billion by 2020 and grow at a CAGR of 15% in the near term. While ‘Make in India’ aims to provide impetus to the manufacturing of medical devices, this sector continues to be an import-dominated and the effects of recent regulatory changes are yet to be seen. 
 
Some of the key themes worth highlighting are increased the interest of global players in the Indian market due to vast potential and focus on building India specific technologies and products. However, the biggest hurdles that organizations face in India are currency fluctuations and lack of affordability. 
 
<a href="http://www.businessinsider.in/telecom-sector-employees-to-get-a-8-7-salary-hike-on-average-amidst-interesting-developments/articleshow/57557821.cms">ALSO READ: Telecom Sector employees to get an 8.7% salary hike on average, amidst interesting developments</a> 
 
CRO: 
 The Clinical Research industry in India has seen promising growth in the last few years. Globally this sector has been growing at a CAGR of 11.5%. The success of this industry in India can be attributed to the availability of relevant talent, cost efficiency, large patient pool and varied disease prevalence rates. While the cost of conducting clinical research in India is nearly half of that in the <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword>, this advantage is expected to diminish over the next few years. 
 
Therefore, CROs have already begun to focus on improving value and service delivery to their partner organizations, aiming to grow in both breadth and depth of the solutions that are on offer. 
 
Talent &amp; Rewards trends 
 <keyword id="1430809" type="UNKNOWN" weightage="20" keywordseo="Poonam-Chopra">Poonam Chopra</keyword> – Industry Lead – Consumer &amp;Life Sciences Sector, Aon Hewitt commented that ” Life Sciences has had the highest salary increase across sectors as this Industry flourishing due to macroeconomic factors.” 
 
Life Sciences industry has seen high salary increases in the last few years. However this year there is a fall in the projected salary increase for 2017 which is 11.3%. This is down from the salary increase for 2016 which was 11.5%. 
 
The pharmaceutical industry has seen a drop in salary increase from 11.7% in 2016 to 11.4% for 2017. The projected salary increase for medical devices and CRO industries would be 11.2% and 11.3% respectively. This drop is in tune with the fall in the drop in the overall salary increase for India. 
 
<a href="http://www.businessinsider.in/hyperloop-one-asks-indians-to-identify-the-first-busy-route-where-it-can-bring-ultra-fast-transportation-system/articleshow/57551789.cms">ALSO READ: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system</a> 
 
While there is a fall in the salary increase numbers for the industry, it continues to lead multiple other industries in terms of salary increase. The reason for high salary increases in the Life Sciences industry vis-à-vis other industries would be the low base pay which is seen in the industry. Therefore there has been a focused attempt to correct this aspect of pay with respect to the other industries. 
 
While the attrition in 2016 has decreased with respect to 2015 from 19.1% to 17.3% it is still a key concern for organizations. 
The variable pay in the industry has mostly been stable over the years and projected variable pay spending for 2017 would be 16.48% 
 
In light of the changing industry and macroeconomic scenario, it is imperative to look at rewards beyond compensation to attract and retain niche talent. It would be interesting to observe how the industry would prioritize the other aspects of rewards in future.

If you’re working in the
Life sciences sector, you can expect the best salary hike this year

The face of <keyword id="6354776" type="COMPANY" weightage="20" keywordseo="Telecom">telecom</keyword> in India has been redefined in the last 2 years. Entry of a large player with deep pockets, significant consolidation (both large and medium size organizations) and not just that but mobile telecom service providers investing in a parallel business model of payment banks. 
 
Naturally, all of this has had a huge impact in the way talent is viewed. 
 
In the mid -2000s telecom made a dent in the talent and rewards space. 
 
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Telecom was opening up and it was a relatively new industry with the limited ready talent available in the market. Hence, to ensure that they are able to pursue the better talent available– the pay offered was significantly higher than the market. As the talent market matured, the sentiment-linked salary increases got backed up by business realities. 
 
At the beginning of the second decade of the 21st century – Telecom in India took a turn which was smarter and sharper in talent and reward management practices. Amongst services organizations, telecom historically has been one of the early ones to adopt best in class people practices. This has been showcased in the way Telecom has been reacting to business challenges and in turn rewards and HR budgets. 
 
<a href="http://www.businessinsider.in/these-women-ola-auto-drivers-are-changing-Indian-roads/articleshow/57539709.cms">ALSO</a><a href="http://www.businessinsider.in/these-women-ola-auto-drivers-are-changing-Indian-roads/articleshow/57539709.cms"> READ: These Women Ola Auto drivers are changing Indian roads</a> 
 
Navneet Rattan - Industry Lead – Manufacturing &amp; Services Sector, Aon Hewitt commented on the sector saying, "Amongst all the challenges that Telecom is weathering, it is still projecting a healthy 8.9% salary increase in 2017. Compared to a 9.7% salary increase average last year, it is a decrease but it is due to volatile developments in this sector." 
 
In the last 3 – 4 years, Telecom has consistently been close but lower than India average which is concerning. 
 
However, it's important to remember telecom was one of the first industries to adopt high differentiations for top talent. 
 According to Aon Hewitt’s 21st India Annual Salary Increase Survey, In 2016, not only were the number of employees ranked ‘A’ are less than 10%, the differentiation offered to top talent was 1.7 times. This differentiation has consistently grown year on year which means that compensation levels are competitive and some key job roles are expected to get hefty compensation compared to their counterparts in the <keyword id="34981" type="UNKNOWN" weightage="100" keywordseo="telecom-sector">Telecom sector</keyword>. 
 
<a href="http://www.businessinsider.in/hyperloop-one-asks-indians-to-identify-busy-routes-where-it-can-bring-ultra-fast-transportation-system/articleshow/57551789.cms?format=slideshow">ALSO READ: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system</a> 
 
In addition, the adoption of pay at risk is fairly significant. 
 
At 13.2% of pay paid through variable pay, telecom is only second to financial institutions and Hi – Tech (in the overall services category). Further, telecom has been one of the first adopters of high long-term incentives at the senior and top level and this trend continues. 
 The attrition in telecom is 19.2 percent. This is approximately 3% higher than <keyword id="46431" type="CITY" weightage="20" keywordseo="India-Inc">India Inc</keyword>. average but in line with any service based industry with a large sales force. While the overall attrition in Telecom is higher than India Inc., the key talent attrition is below the India average and stands at 7.6%.

Telecom Sector employees to get an 8.7% salary hike on average, amidst interesting developments

The USD 143 billion primarily export-driven IT/ITeS sector is currently going through a fundamental shift due to increasing commoditization of traditional services, changing the geopolitical discourse on globalization, start-up firings, and adoption of automation technologies that may negatively impact low skilled jobs in the short to medium term. 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> got in touch with Abhishek Sen, Director &amp; Industry Lead IT &amp; ITeS, <keyword id="6462982" type="COMPANY" weightage="20" keywordseo="Aon-Hewitt">Aon Hewitt</keyword> and he said,“The Indian Tech and BPO industry has a significant dependency on the US market for its service export revenue. The current changes in the <keyword id="48028" type="ORGANIZATION" weightage="20" keywordseo="US-government">US Government</keyword> and the proposed changes to the immigration policy could have an impact on the <keyword id="1645574" type="UNKNOWN" weightage="20" keywordseo="Indian-technology-services">Indian Technology Services</keyword> business especially due to a proposed increase of salaries for certain categories of visa holders. This has created a cautious sentiment in the industry. However, this is not the only reason for organizations taking a relook at talent strategies. With digital and automation becoming a strong need in businesses going forward, talent-heavy service delivery models are being rethought and a push to reskill talent has started in India. All these aspects, together with slow moving and changing Industry demand has driven organizations to rethink people strategies and people cost.” 
 With protectionist <keyword id="6354862" type="PERSON" weightage="100" keywordseo="Trump">Trump</keyword> administration going bullish on fulfilling their election promise about producing locally and creating jobs, the Indian IT and ITeS industries, which draw a major part of their earnings 60% and upwards from the US market, will suffer if US companies reduce their outsourcing spends. 
 
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According to Aon Hewitt’s 21st India Annual Salary Increase Survey, the IT-BPM industry’s growth projections for 2016-17 has seen a markdown to 8-10% from its earlier projections of 10-12%. Hiring in this sector is projected to see a drop by 20% in 2017 in continuation with the downward hiring trend since 2016. 
 
In India, the growth forecast for the current (2016–17) and next fiscal year was trimmed down to 6.6 percentage point and 7.2 percentage point, respectively, primarily due to the temporary negative consumption shock induced by cash shortages and payment disruptions associated with the recent currency note withdrawal and exchange initiative. 
 
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 The <keyword id="4128387" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2017">Union Budget 2017</keyword> had specifically looked into the demand from the IT-BPM sector with tax deducted at source (TDS) on payments to call centers have been reduced from 10% to 2%. This will improve the working capital situation and potentially support the all <keyword id="54324" type="UNKNOWN" weightage="20" keywordseo="india-business">India Business</keyword> process outsourcing (BPO) Support scheme of the Government, where cos are setting up in Tier 2/3 locations. Unfortunately, all other software transactions continue to be subject to 10% TDS, despite Industry demand for lower TDS. 
 
Key Talent &amp; Reward trends 
The actual overall salary increase for 2016 is at 10.2% and the 2017 projections have seen a dip to 9.9% in this period of uncertainty. Riding on this wave, the 2017 projections have seen a downward trend across all sub-industries with KPO’s at 11.5%, Third Party Service Providers at 8.5%, BFSI and other captives at 10.0%. 
 
The top to average performer salary differentiation is 1.75X. The overall attrition is at 17.2% for ITES with BFSI Captives being the lowest at 14.1% and Third Party Service Providers facing the highest attrition at 23.7%. 
 
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As the global story unfolds, ITES industry is in midst of a Digital transformation wave. It is largely about the opportunity to transform customer experiences and business models and less about the technology. Indeed, as the toolset for digital transformation expands beyond the original set of social, mobile, analytics and cloud (SMAC) technologies to include artificial intelligence, machine learning, and cognitive computing, success will be increasingly about the integrated deployment of several technologies as opposed to simply deploying one tool. Of equal importance is the increasing recognition that digital transformation has to embrace more than just cost reduction and requires a focus on breaking down silos. Consequently, it is expected that organizations with higher levels of process maturity will be more likely to succeed with digital transformation.

The Indian IT and ITeS industries’ salaries will suffer due to US Gov’s trade policies this year

Ever wondered if you could have figured out which subjects you were good at without taking exams? 
 
As teachers and schools realize that the focus of learning has become more holistic than before, students and their parents want to know more about the pupil’s academic strengths to make an informed decision in the future in regards to career prospects or even further education. 
 
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 <keyword id="4072741" type="UNKNOWN" weightage="20" keywordseo="vidyartha">Vidyartha</keyword> is a learning guidance platform that provides data led deep profiling &amp; personalized learning recommendations to high school students in Grade 8 to Grade 12. Through continuous engagement, Vidyartha collects varied student data that influences and impacts their learning and arrives at tactical recommendations to not just improve scores but also strengthen each student's unique capabilities and improve life-skills - example problem solving, critical thinking etc. Vidyartha’s platform has reached over 250000 students across 3000+ schools in India and the Middle East. 
 
<a href="http://www.businessinsider.in/online-cab-players-in-2016-completed-nearly-half-a-billion-rides-with-250-y-o-y-growth-in-india/articleshow/57273938.cms">ALSO READ: Online cab players in 2016 completed nearly half a billion rides with 250% y-o-y growth in India</a> 
 
Every student has a learning style as unique as their fingerprint. Combining their academic scores, their interests and their aptitude scores that are obtained through psychometric assessments, general aptitude &amp; subject specific application assessments along with class performance inputs from the school, each student’s unique learning story and a personalised learning plan (PLP) is created with long term goals broken down to short term targets. 
 
Each student’s learning plan includes: 
● Interest profiling 
● Personality profiling 
● General &amp; subject specific aptitude strengths &amp; weaknesses 
● Interest in capability match 
● Subject wise focus areas based on long term goals &amp; targets 
● Learning gaps between school performance &amp; conceptual application 
● Competitive benchmarking - Where they stand among their peers within the school, across the region and countrywide 
● Subject combinations recommended post Class 10 for students in Grades 8,9 &amp; 10 
● Personalised course recommendation for students in Grades 11 &amp; 12 
 
<a href="http://www.businessinsider.in/here-are-the-major-takeaways-from-aon-hewitts-21st-india-annual-salary-increase-survey/articleshow/57290354.cms">ALSO READ: Here are the major takeaways from Aon Hewitt’s 21st India Annual Salary Increase Survey</a> 
 
Vidyartha’s focus is on increasing student’s academic performance and keeps them engaged while understanding their unique needs and continuously working with their specific learning challenges. Each student hence gets his unique Personalised Learning Plan (PLP). 
 
With these distinct profiles, students can evaluate where they stand against their peers on school, regional and national levels, for each interest area. This helps in fixing learning gaps for each subject and create unique learning paths for students to excel. 
 
These PLPs help teachers understand students beyond the report cards, identify their learning styles, tailor learning content and bridge the gap between academic scores and conceptual learning.

This startup can tell students exactly where their academic strengths lie

With the wedding season around the corner, there is a lot of excitement and anticipation in the air. From pre-wedding shoots to beautiful destination weddings, social media timelines get into a mad frenzy of innovative hashtagging and wedding memorabilia every year during this time. 
 
<a href="http://www.businessinsider.in/here-are-the-major-takeaways-from-aon-hewitts-21st-india-annual-salary-increase-survey/articleshow/57290354.cms">ALSO READ: Here are the major takeaways from Aon Hewitt’s 21st India Annual Salary Increase Survey</a> 
 The image of a perfect Indian wedding today is governed by a lot of stereotypes like the perfect wedding dress, the quintessential <keyword id="819905" type="COMPANY" weightage="20" keywordseo="Instagram">Instagram</keyword> and Snapchat filters, stunning destinations, outstanding decor and dreamy photoshoots. 
 However, this wedding season, <keyword id="2778113" type="UNKNOWN" weightage="20" keywordseo="Rentomojo">RentoMojo</keyword> had invited all its consumers to an extremely unconventional and quirky wedding-#PriyaWedsSofa. This campaign features Priya, a character who is a modern enthusiastic young working professional who has powerful dreams, is extremely confident, dynamic and talented in an own way. Her job requires her to travel across various cities quite often. 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		The truth is out...<a href="https://twitter.com/hashtag/PriyaWedsSofa?src=hash">#PriyaWedsSofa</a> because she *bought* one. 
		Just rent furniture instead... save commitment for things that matter! <a href="https://t.co/W2kuFwHtHR">pic.twitter.com/W2kuFwHtHR</a>
	— RentoMojo (@rentomojo) <a href="https://twitter.com/rentomojo/status/833930097010700288">February 21, 2017</a></blockquote>
 
However, each time she chooses a piece of furniture for her new home, she goes through the emotional topsy-turvy of not wanting to part with it and therefore feels totally married to it. This new campaign of RentoMojo #PriyaWedsSofa is a satire targeting the mindset of getting married to a piece of furniture for years without wanting to part with it, even though it means high relocation costs and the same boring interiors year on year. The campaign creatively builds awareness about accessing a particular lifestyle without actually owning it. 
 
<a href="http://www.businessinsider.in/online-cab-players-in-2016-completed-nearly-half-a-billion-rides-with-250-y-o-y-growth-in-india/articleshow/57273938.cms">ALSO READ: Online cab players in 2016 completed nearly half a billion rides with 250% y-o-y growth in India</a> 
 
We operate in a world where the meaning of ownership and commitments have drastically changed. Through this campaign they wanted to bust the mindset that marriage is only about vows between two individuals; unknowingly we get married to a lot of inanimate objects in our everyday lives which tie us down and demand long-term commitments just like any other relationship. 
 
With Rentomojo – you skip the negativity of purchase. You choose the furniture, appliance or even bike you want for now, and own it till as long as you want to. 
 
<a href="http://www.businessinsider.in/bi-investigation-business-models-akin-to-amazon-and-ubers-arent-working-for-indian-startups/articleshow/57287190.cms">ALSO READ: BI Investigation: Business models akin to Amazon and Uber’s aren’t working for Indian startups</a> 
 
When you’re looking for an upgrade, or a move, or a change of mind, do it without hiccoughs – by simply returning it to the company, no strings attached.

You Searched For "aon hewitt rsquo" and got 6 results

Aon Hewitt acquires CoCubes, a hiring assessments company

BI India Bureau

If you’re working in the Life sciences sector, you can expect the best salary hike this year

Tanya Dubey

Telecom Sector employees to get an 8.7% salary hike on average, amidst interesting developments

Tanya Dubey

The Indian IT and ITeS industries’ salaries will suffer due to US Gov’s trade policies this year

Tanya Dubey

This startup can tell students exactly where their academic strengths lie

Tanya Dubey

Attend this quirky wedding to rent some cool furniture for your house

Tanya Dubey

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