Great Place To Work’s report on IT & IT-BPM unveils industry resilience and vital trends shaping future workplaces
National, 30th November 2023 – Great Place To Work® India, a renowned workplace assessment and recognition organization, has unveiled a comprehensive report on India’s Best Workplaces™ in the IT & IT-BPM sector, with insights gathered from a staggering 1.8 million employees. The report showcases the remarkable resilience of the IT industry while highlighting pivotal shifts in employee perceptions and sentiments. Some of India’s best workplaces in IT and IT-BPM 2023 (alphabetic order) include _VOIS, Accenture Solutions Private Limited, Akamai Technologies India Private Limited, Atlassian India LLP, Blue Yonder India Private Limited, Cadence Design Systems (India) Private Limited, CGI Information Systems and Management, Consultants Private Limited, Cisco Systems India Private Limited, Encora Innovation Labs India Private Limited, H & R Block (India) Private Limited. A list of the top 100 workplaces can be accessed at < India’s Best Workplaces in IT & IT-BPM 2023>
Notably, the 2023 assessment reflects that the burnout risk remains a concern, affecting 27% of employees in large companies which is 3% higher compared to their mid-sized counterparts. Female senior managers in particular experience a 5% higher burnout rate than male counterparts. The trend draws on the importance of maintaining a delicate balance between growth and employee well-being.
However, it’s worth noting that large organizations demonstrated a 1% improvement in employee experience, while mid-size entities maintained a commendable 85% score, surpassing their larger counterparts.
Yeshasvini Ramaswamy, CEO, of Great Place To Work India, stated, “As we stand at the intersection of disruptive innovation and sustainable progress, I reflect on the profound and indispensable role played by the IT industry in driving the Indian economy forward. India’s IT industry contributes a staggering 7.5% towards the country’s gross domestic product (GDP). This statistic not only underscores the economic significance of this sector but also showcases the pivotal role each organization plays in shaping the trajectory of our nation. The emergence and robust contribution of cutting-edge technologies such as AI and deep tech in the Indian IT sector, as of 2023, further accentuate our industry’s status as a hub of talent and innovation with global delivery capabilities. It is the collective effort of these organizations that lays the groundwork for a future where technological prowess is synonymous with national progress and global ambitions.
Our report, India’s Best Workplaces in IT & IT-BPM, highlights the vibrancy and resilience of this industry. With over 1.8 million employee voices contributing to our study, trends that will shape our future of work continue to be myriad. This assessment through our proprietary methodology aims at studying the ways in which organizations completely channelize their people power and create inclusive workplaces through effective leadership, meaningful values, and nurturing a culture where all employees experience high levels of trust and bring their best selves to work.
This year we see that the industry has experienced subtle shifts in employee perceptions as compared to the last year. While the overall employee experience saw a dip, dimensions like Pride and Fairness emerged as the highest and lowest in employee sentiment, respectively. The reduction in Camaraderie (-1%) and a diminished sense of Pride (-1%) among employees has shaped the overall employee experience.
In addressing the current challenges, Workplace Ikigai emerges as a holistic solution that empowers individuals to align their personal passions, cultivate meaningful relationships, embody exceptional leadership, and create an enduring impact.
As we embrace flexibility through hybrid workplaces, fostering collaboration becomes more critical.
83% of Best Workplaces invest mindfully in their employees’ growth. Leadership excellence, despite being the lowest-scoring lever in Workplace Ikigai, shows an upward trend. This emphasizes the need for more accountability and authenticity at leadership levels.
As we continue to navigate the ever-evolving landscape of the IT industry, let us draw inspiration from the positive trends. A lot of work is yet to be done and as I say, achieving an optimal workforce DNA is not just a goal; it will always be a journey where employees have to be empowered with the skills and resources, they need for success within the construct of psychological safety measures. Congratulations to each and every one of you! Your commitment to nurturing environments that inspire innovation, foster trust, and promote the well-being of your employees has not gone unnoticed. In a world that constantly evolves, you have set a benchmark for what it truly means to be a Great Place To Work for us in India.”
Workplace Ikigai not only fosters employee well-being but also boosts productivity, retention rates, and innovation. Notably, in 2023, a sizable 77% of IT companies monitor employee well-being, with 55% employing multiple methods.
The report further highlights that the convergence of IT workplaces and personal fulfillment is key to achieving a remarkable 1.7X higher retention rate. It says that employees immersed in robust team dynamics are 3X more inclined to perceive their workplace as exceptional, fostering trust in colleagues and a welcoming onboarding experience. Furthermore, those exposed to stellar leadership experiences are also 3X more likely to consider their workplace excellent, benefiting from enhanced training prospects and crucial job resources.
As organizations navigate challenges, focusing on employee well-being, team spirit, and upskilling, will not only enhance workplace dynamics but will also drive substantial business returns. This further sheds light on the fact that IT companies have been investing an average of 1.97Cr annually in training and development, underscoring the significance placed on nurturing employee growth. Hence, with elements such as improved retention rates, heightened productivity, and increased innovation, opportunities will create resilient and thriving workplaces.
Nov 30th, Bangalore: India’s leading liberal professional university Vijaybhoomi recently signed an MoU with the Department of Centre for Product Design Manufacturing (CPDM) at the Indian Institute of Science (IISc). Both institutes have collaborated to cultivate a productive partnership in academics and research. The idea behind this is to promote knowledge sharing between the two institutions in research, teaching, and learning areas of common interest and also enable student and faculty exchanges for mutual benefit and development.
UAE, Dubai 30th November 2023: XTB, a global fintech offering online investing platform and mobile app, announced today the appointment of Tomasz Gawron to lead the company’s Artificial Intelligence (AI) department. This newly created division within the Technology & Product department will be focused on the confident and responsible adoption of AI into business operations and XTB’s proprietary investment platforms.
Chennai, 30th November 2023: In a heart-warming initiative to raise awareness and support for Childhood Cancer Awareness, Apollo Cancer Centres, Chennai is collaborating with India Post to launch a commemorative stamp under the campaign ‘Stamp Out Childhood Cancer.’ This innovative effort aims to go beyond merely creating awareness, by bringing people together to join hands in fighting against childhood cancer and carrying a profound message of hope, strength, and unity.
Mumbai, 30 November 2023: Amazon miniTV – Amazon’s free video streaming service released the third season of the much-loved coming-of-age romance drama series, Crushed. The first two seasons resonated deeply among romance lovers and created much anticipation. Starring Aadhya Anand, Naman Jain, Arjun Deshwal, and Urvi Singh in pivotal roles, in the third season the narrative goes deeper into their experiences, testing the depth of their friendships and love amidst newfound complexities and struggles. Created by Dice Media and directed by Mandar Kurundkar, the series is a hearty blend of emotions and drama, with twists, turns, and exploring individuality.
Mumbai, November 30, 2023: SP Jain School of Global Management, a leading business school ranked the world’s no. 12 with campuses in Mumbai, Sydney, Dubai, and Singapore, has announced the launch of its Executive HR Leadership program. The six-month live online program is designed to equip HR professionals to elevate their skills across strategic HR Management by preparing them for the future of HR transformation. This program is offered in collaboration with Emeritus, a global leader in making high-quality education accessible and affordable, and enrollment is now open for a February 2024 start.
Bangalore, 30 November 2023: ACC, the cement and building material company of the diversified Adani Group, has created a comprehensive goat-rearing ecosystem that has managed to pull out several families from dire poverty in Hanuman Nagar at its Chanda Cement Works. With support from ACC and its partner NGO Indira Mahila Bachat Gat, beneficiary households are now earning an annual income of Rs 45000/-, with an average livestock holding of 6-7 goats per family.