"Bharti Airtel, Britannia, Cadbury, etc. have all brought in CEOs at the top level with proven performance competencies, at top drawer compensation levels," Burman said.

HR services firm Randstad India Marketing and President Staffing Aditya Narayan Mishra observed that companies have in fact cut the incentives for executives in support functions.

However, for senior executives handling revenue generation streams, the companies are using perks as a motivation tool to drive performance and make the team lean, rather than cutting it, he added.

The variety of benefits offered to executives includes corporate sponsorships, cash bonuses, equity incentives, health benefits, holiday sponsorship, cars, among others.

Mishra noted that among the forms of perks meated out to executives while cash benefits remain the most popular "the use of the company car or jet for personal purposes, special box seats in sporting events, and support to the family while on official travel" are also offered.

"A recent trend is to even offer the services of an image building consultant and paid vacations as perks," he added.

According to online job portal ChangeYourBoss.com CEO Bhupender Mehta, the spending on employee incentives in India is more than many developed countries.

"General opinion is that India has more liberal perks than US or UK primarily from an income tax perspective," Deloitte India Senior Director P Thiruvengadam said.

Besides, Burman observed, the executives are increasingly asking for good joining bonus and committed severance package.

"Also seeing the massive talent crunch now C-Suite Executives have their own bidding demands to stay with the company," he added.

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