Unique benefits, Work-life balance, and Fair Compensation are among the key differentiators of a great workplace
Bengaluru, Noida, Chennai among cities with the highest number of the Best in IT & ITeS
Mumbai, 16th September 2016: The Great Place To Work® Institute announced its second annual list of India’s Best Companies To Work For in IT & ITeS, 2016. Adobe Systems India, Google India, and Microsoft India are among the 50 Best IT & ITeS workplaces, which were identified based on comprehensive country-wide engagement survey of over 36,500 employees from 145 IT & ITeS companies. The top 50 were identified based on an assessment of employee perceptions gauged using the engagement survey and an audit of company practices.
Overall, unique benefits, work-life balance and fair pay were found to be the foundations for a superior employee experience, based on findings relating to what the best IT & ITeS workplaces are doing to accelerate employee performance and engagement. Based on an analysis of factors that drive the perception of a great workplace, it was found that to meet the challenge of engaging and retaining ta lent in this sector, leaders should consciously work towards instilling a sense of pride in the workplace, providing ample opportunities for career growth, building team spirit, and demonstrating genuine care for employees. In addition, practising egalitarian treatment and giving employees adequate freedom to do their work were found to have strong correlation with employee intention to remain in the organization, thus having implications for retention.
Mr Amit Phadnis, President, Engineering and India Site Leader at Cisco Systems, affirms that audits play a key role in streamlining expectations and execution making a great workplace. “The audits are a great way to get grounds up information on effectiveness of employee engagement initiatives across the organisations. This has certainly helped us in understanding the challenges in communications aspects of the initiatives and in some cases effectiveness of implementations. We look at it as a direct customer feedback and use the information to adapt our initiatives and their implementation accordingly.”
Indeed, MNCs like Cisco Systems dominated the Top 50, with 47% MNCs featuring among the Best in IT & ITeS companies compared to just 20% of non-MNCs making the list. Other key companies to be featured in the list include SAP India, Intel India and PayPal. Employees from MNCS express far more positive perceptions about the workplace, compared to those from non-MNCs. Unique benefits, work-life balance, and fair share of profits were the top 3 areas where MNCs fared better over Indian companies.
On similar lines, we find that the “start-ups” (less than 5 years of operation) studied offer a far superior experience in all areas covered in the survey compared to more established organizations, with the top 3 areas being celebrations at work, tolerance to mistakes, and accessibility of managers. Even though more than 80% of the companies studied had 5+ years of operations under their belt, these findings are compelling considering the significant number of jobs created by start-up – 80,000 in FY15, according to a NASSCOM study.
Sharon Andrew, Happiness Evangelist at Happiest Minds, one of the start-ups among the Top 50, vouched for the fact that that engagement is a conscious business strategy. “For a company with a mission statement of ‘Happiest People. Happiest Customers’, participating in the Great Place to Work assessment has helped us evaluate ourselves and initiate policies, processes and initiatives such as iAppreciate, Happiness Evangelism Index, the Mindful Manager program, to name a few. This structured and sustained endeavour has led us to being featured in the Top 50 in India’s Best Companies to Work for in IT & ITeS, 2016.” Other start-ups featured in the top 50 list include BT Global Business Services and Aristocrat Technologies India Pvt Ltd.
Remarking on the study this year, Mr Prasenjit Bhattacharya, CEO, Great Place To Work® Institute India said, “As companies in this sector continue to evolve and adapt newer strategies, their success is directly proportional to their ability to attract, engage and retain talent. In our survey this year, the IT & ITeS sector accounted for larger share of the companies we studied across the Indian industries. The industry’s clear focus on creating a great employee experience is therefore striking.”
Dubbed India’s Silicon Valley, Bengaluru was unsurprisingly the most popular location for IT companies assessed. While the city accounts for the headquarters of nearly one-quarter (24%) of the best workplaces this year, including Happiest Minds, Intuit, Cisco, Salesforce and EMC India in this study; it is also the base for 21% of the companies in assessed this study. Bengaluru, Noida, Chennai, Mumbai, and Gurgaon alone account for 64% of the total study population, and more than three-fourths (76%) of the best companies in IT & ITeS.
Some of the other companies on the list include, Aegis, Global Analytics India, CitiusTech Healthcare Technology Pvt Ltd, Kronos Incorporated, NetApp India, Pitney Bowes Software India and Shriram Value Services.
Employee engagement in the study is measured through two lenses – the Trust Index© and Culture Audit©. Employees at the participating companies anonymously complete The Trust Index©: measuring their levels of trust in terms of 5 dimensions: Credibility, Respect, Fairness, Pride and Camaraderie. Feedback captured through the Trust Index© survey carries a 2/3rd weight. The remaining 1/3rd of the score is derived from the Culture Audit©, a questionnaire seeking to understand the people company’s policies, processes, and overall values.
About Great Place To Work ® Institute
Great Place to Work® Institute is known globally as one of the pioneers in the practice of studying and recognizing the best workplaces. In line with its mission to “build a better society by helping companies transform their workplaces”, Great Place to Work® Institute India also provides advisory and consulting support for companies that wish to enhance their workplace experience.
Leading companies worldwide apply the Great Place to Work ® model to increase the levels of trust across their organizations and improve business results. Millions of employees from 8000 organizations located in over 52 countries participate in the best workplaces studies each year, making this the largest global study of its employee engagement in the world.
About the India’s Best Companies To Work For in IT & ITeS, 2016, list
This is the second of Great Place to Work ® Institute’s annual India’s Best Companies in IT & ITeS list. This year, in India, 145 organizations in the IT & ITeS sector participated in this assessment. Through the study, the 50 Best IT & ITeS Companies were identified in alphabetical order. In addition to the 50 best, the Institute has also recognised the Top 5 companies, in alphabetical order, in each of the following categories:
- India’s Top 5 Emerging Companies to Work for in IT & ITeS, 2016 (Companies which have been in operations in India for 5 years or less)
- India’s Top 5 Small Companies to Work for in IT & ITeS, 2016 (Companies having up to 500 employees)
- India’s Top 5 Medium-sized Companies to Work for in IT & ITeS, 2016 (Companies having 501 to 5000 employees)
- India’s top 5 Large Companies to Work for in IT & ITeS, 2016 (Companies having more than 5000 employees)
- India’s top 5 Product Companies to Work for in IT & ITeS, 2016
- India’s top 5 Services Companies to work for in IT & ITeS, 2016