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Healthcare & Medical Sector
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Payroll Home » Compensation » Indian Industry » Healthcare Medical Sector
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Salary package is the core aspect for attracting and retaining employees. The immense growth in the sector has caused the compensation packages in the industry increase at a rapid pace. The compensation packages in the industry are reaching the same roof as of IT sector in the country. The industry is booming and this has led the medical institutes to offer lucrative packages to attract and retain skilled medical practitioners.
In recent study it was revealed that medical tourism is increasing in India. It is expected that the Indian healthcare industry will grow by more than 40% in the next 5 years. This has caused more and more companies are entering the sector which is demanding more and more professionals. | |
Hence, the organizations offer most competitive packages to acquire the best talent around. It has been found that that there are many MNCs in the Indian healthcare industry who want to put the management on a global scale.
Compensation Structure
The compensation package includes the following components. Apart from the regular components, medical practitioners are also provided with the special benefits mentioned below.
Figure: Components of compensation package in Indian Healthcare & Medicine Industry
Figure: Special Benefits offered in Indian Healthcare & Medicine Industry
The traditional aspect of equal pay in equal regions has been taken over by the new phenomena of competitive pay across the industries. Globalization and business expansions have caused the organizations to attract and retain the talented workforce. They also keep in the mind the internal parity i.e. the pay structures are comparable with respect to the job positions in the organizational hierarchy.
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