IDBI hires Hewitt to rejig packages

IDBI has hired human resource consultancy firm Hewitt & Associates for introducing the cost-to-company approach and an integrated compensation package for employees, chairman and managing director M Damodaran said today.

"There are too many allowances currently," Damodaran said.

The cost-to-company approach takes into account all the perks and benefits that an employee gets from the organisation in addition to salary.

IDBI sources said Hewitt was commissioned a few weeks ago with a time frame to submit recommendations in six months.

There may be some changes in compensation packages after the new concept is introduced in the organisation, they added.