Tuesday, July 1, 2014

For fifth year in a row, Google emerges as country s best company to work for, Survey

MUMBAI: If you google 'India's best company to work for', the answer you will get is — Google. For the fifth year in a row, Google India has emerged the country's best company to work for followed by Intel, which remains in second place for the second year. Marriott Hotels is in third spot, a sharp improvement from ninth position last year, replacing American Express, which is in fourth place.

Now in its seventh year, 'India's Best Companies to Work For' is a study conducted by The Economic Times and Great Place to Work Institute, based on a methodology that has been validated the world over. This year, 600 organisations spanning 20 industry categories participated in the survey, of which the top 50 in the list of 'India's Best Companies to Work For' were felicitated at a ceremony in Mumbai on Friday.
This year saw the introduction of a Hall of Fame, whereby companies that have featured in the top 50 for five years in a row were recognised. The infotech industry has built a reputation for having best-in-class workplace practices, so it doesn't come as a surprise that more than half the companies in the top 10 are from this sector.

Two Indian companies in Top 10

Multinational companies, whose human resource practices are handed down from the parent, have tended to dominate the list in the past, and this year is no exception. But two desi companies — Godrej Consumer ProductsBSE -1.30 % and Ujjivan Financial Services — are in this year's top 10, at seventh and ninth places, respectively. Employee perceptions form the core of the Best Companies to Work For study. 

This year, over 1.7 lakh people were surveyed using a comprehensivequo questionnaire, making this the largest survey of workplace culture in corporate India. Along with employee feedback, the study assessed management practices of the organisations using a people practice assessment framework developed by the Great Place to Work Institute. 

Companies considered to be great places to work tend to have higher productivity and lower attrition rates. But research shows that an upbeat work culture also correlates closely with financial performance. This year, an independent study was commissioned to correlate the rankings of companies in the Best Places to Work listing with their performance on the stock exchanges and the findings seem to be conclusive. On an average, the BSE returned 51% on investment between 2008 and 2013 while orga .. 

The study defines a 'great workplace' as one where employees trust the people they work for, have pride in work they do and enjoy the company of people they work with. Since the participating companies tend to be those motivated by a desire to improve and excel on this human resources parameter, is would come as no surprise that 73% of the employees had positive perceptions about their workplaces.

This figure was 73% last year as well. Friendliness, non-discrimination, pride and trust in management's competence were found to be some of the strengths of these organisations. On the other hand, perceptions about favouritism by managers, politicking, inequitable distribution of profits, lack of unique benefits and absence of collaboration in decision-making were found to be some of the leading areas for improvement for organisations in India. 

The good news is that India's young workforce is highly engaged and 84% of the respondents at the best workplaces feel there exists a family or team feeling. People in lower status positions — whether by pay or hierarchy — are engaged to the same degree as others in higher status positions. In the best 100 organisations, 82% of the respondents feel there are opportunities for their career growth. They believe the management demonstrates a genuine interest in people as individuals, not only as em .. 

No comments:

Post a Comment