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Benchmakring

NIIT is a global information technology firm which provides unique computer training, software solutions and multimedia educational products to various countries. NIIT realized that loyalty of valued, well qualified employees can add to its continued success and has emerged as a leader in retaining IT professionals, by providing additional perks to their employees. NIIT has developed a unique and cost effective rewarding program through which they encourage employees to find a much sort after personal balance between family, career and community under their “life budgeting support system”.
According to Gionfriddo & Dhingra (1999), every NIITian plays three roles namely, Professional, Family and Responsible NIITian (in the broader community). To enhance these aspects NIIT offers its employees various benefits and allowances paying particular attention to their intellectual development, offering various training programs both inside and outside the company, which includes technical and quality training as well as management skill development. Company offers programs like “Technology Proficiency Allowance” – employees are encouraged to become certified in new information technologies and monetary rewards are given to the successful employees. “Spirit fund” – employees are provided with funds for acquiring additional qualifications. This benefits both the employees (personal and professional development) and the company (can provide better services due to employees trained in latest technologies). The belief at NIIT is that as a professional, besides intellectual development, an individual also need to be emotionally and physically fit. The company offers smart dress allowance, physical fitness allowance and a generous allowance for home computer, offering the employees the flexibility to work from home. Besides this “NIIT offers its employees a generous 401K plan in accordance with the length of service, matching each employee dollars at 50% after six months, 75%...