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WORKPLACES How Credibility, Care and Career Growth Define Best Workplaces

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WORKPLACES How Credibility, Care and Career Growth Define Best Workplaces THE 3 Cs THAT CREATE GREAT WORKPLACES How Credibility, Care and Career Growth Define Best Workplaces Insights from India’s Best Companies to Work For 2020 13th Edition Authored by: Prasenjit Bhattacharya Edited by: Sreemoyee Sengupta Supported By: Dr. Deepika Dabke, Gurab Virk, Punit Goyal ABOUT THE REPORT It is the 13th year of the Great Place to Work® Institute’s ‘India’s Best Companies to Work For’ study, in partnership with The Economic Times. Over the years, the research conducted by Great Place to Work® has focused on the state and impact of Trust in workplaces across India. It has highlighted what drives trust in organizations and shared what the best workplaces do differently to gain and sustain this trust. Last year, more than 1000 organizations applied for the Great Place to Work® assessment and 869 formed the final base for evaluation and identifying the 100 Best Companies to Work For in the country. This year is a unique year, enveloped in unprecedented circumstances. Therefore, today, our responsibility extends beyond articulating what our research tells us. Great Place to Work® Institute is humbled to be the partner of choice for so many organizations and through this year’s research report we hope to shed light on the hitherto uncharted way forward in the world of work. Company culture has time and again proven to be a differentiator for the best workplaces and it is leadership by far that has the largest and most direct effect on company culture. Having studied over 869 organizations throughout India this year, Great Place to Work® is delighted to present a personalized guide for Business Leaders that will facilitate their efforts to create and sustain High-Trust, High-Performance Cultures™ even in the most challenging circumstances. Copyright © 2020 Great Place to Work® Institute, Inc. 2 All Rights Reserved. LEADERSHIP IN TIMES OF CRISIS If you are the CEO of a company, this is your time. People may not remember your predecessors, but they will never forget you! What were you doing - or not doing - when your company was hit by the COVID-19 induced Tsunami? This will be a question that will follow you for the rest of your life. We spoke to over 250 organizations and many CEOs to find out what the leaders of the best workplaces had been up to. Read our observations in a special section in this report on Page 22. Regards, Prasenjit Bhattacharya CEO, Great Place to Work® Institute, India Copyright © 2020 Great Place to Work® Institute, Inc. All Rights Reserved. 3 CE ONT NTS 5 Our Methodology for Selecting the Best Workplaces 6 A Great Business Case! 7 Participants Profile 8 India's Best Companies to Work For 2020 10 From Just 'Workplaces' to 'Great Workplaces' 12 Fairness The Foundation of Great Workplaces 14 Interesting Facts about the Participating Organizations 15 The 3Cs that Create Great Workplaces 21 A Focus on the Top 100 The Best Companies to Work For in India 2020 22 Leadership in Times of CRISIS 39 About Great Place to Work® Institute Copyright © 2020 Great Place to Work® Institute, Inc. 4 All Rights Reserved. Criteria for selecting the OUR Best Workplaces METHODOLOGY TRUST INDEX© FOR SELECTING 2/3rd THE BEST WORKPLACES weightage Every year, more than 10,000 organizations from over An EMPLOYEE SURVEY seeking anonymous 60 countries partner Great Place to Work® Institute feedback for assessment, benchmarking and planning of actions to strengthen their workplace culture. Great Place to Work® Institute’s methodology is recognized + as rigorous and objective and is considered as the CULTURE AUDIT© 'Gold Standard' for defining great workplaces across business, academia and government organizations. 1/3rd All organizations that nominate themselves for weightage India’s Best Companies to Work For list undergo A study of the an assessment. As part of this assessment, all PEOPLE PRACTICES organizations are studied through two lenses. of an organization The first lens measures the quality of employee experience through our globally validated survey With respect to this criterion, any demographic group instrument known as Trust Index©. The survey helps that forms 10% or more of the company’s employee in seeking anonymous feedback from employees and strength, should not have a significantly different carries 2/3rd weightage. experience (Trust Index© score) from the average score of the entire organization. The second lens is called Culture Audit©, which is a proprietary tool of the Institute that evaluates The Institute undertakes a robust validation process the quality of people practices of an organization, on the data gathered through the assessment covering the entire employee lifecycle. The Culture procedure. The cumulative score of the Trust Index© Audit© carries 1/3rd weightage. Furthermore, the and Culture Audit© determines an organization’s Institute evaluates whether an organization that has position on the ranking scoreboard and helps in met the criteria defined by the Institute on employee identifying ‘India’s 100 Best Companies to Work For’. experience and people practices is also a ‘Great No individual or jury has a say in who makes it to the Place to Work for FOR ALL', i.e. all employees in the Top 100 list – only employee feedback and quality of organization, irrespective of their tenure, age, gender, people practices determine if an organization is a great role, etc. are experiencing a great workplace culture. workplace. Note: All the assessments for identifying the 100 Best Companies to Work For 2020 were conducted before 15th February 2020, prior to any impact of COVID-19 across the country. Disclosure: For the organizations that participated in the research for ‘India’s Best Companies to Work For’ 2020, there was no participation fee. All participant organizations have had the option of subscribing to various data insights and reporting options at their own discretion/need. Great Place to Work® Institute, India also has a Consulting Practice. The total consulting revenue of Great Place to Work® Institute, India from the 100 Best Companies to Work For 2020 in the financial year 2019-20 is less than 10 per cent of the total revenue of the Institute in India. Great Place to Work® Institute, India has a stated policy of not soliciting business from India’s Best Companies to Work For. Copyright © 2020 Great Place to Work® Institute, Inc. All Rights Reserved. 5 A GREAT A study of shareholder returns of the publicly listed great workplaces by RSM India reveals that best workplaces consistently outperform major stock indices such as BSE BUSINESS Sensex 30, Nifty 50 and CNX Nifty - Total Returns Index. In the current study, the best CASE! workplaces have outperformed major stock indices by a factor of 3 and have yielded almost 7x returns on initial investment! 800% 785% 750% Comparative Cumulative Stock 752% Market Returns 700% India’s 100 Best Companies to Work For 650% Hold Model BSE Sensex 30 600% Nifty 50 (CNX Nifty) CNX Nifty - Total Returns Index 550% 500% 450% 400% Best 350% Workplaces provided almost 300% Cumulative Returns Cumulative 7x times the 250% returns 246% 204% 200% 203% 150% 100% 50% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Compounded Annual Growth Rate (CAGR %) of the India’s 100 Best Companies to Work For completely outshines major indices of BSE Sensex 30, Nifty 50, CNX Nifty - Total Returns Index consistently for the past 11 years (2008 – 2019). 21.51% India’s 100 Best Companies to Work For 21.92% Hold Model 10.63% BSE Sensex 30 10.59% Nifty 50 (CNX Nifty) 11.94% CNX Nifty - Total Returns Index 25% 20% 15% 10% 5% 0% Copyright © 2020 Great Place to Work® Institute, Inc. 6 All Rights Reserved. PARTICIPANT PROFILE 1% 1% 1% 2% 2% 5% 1% 1% 24% 5% 2% 4% Top 3% 100 12% 21% 15% 1% Information Technology 2% Manufacturing & Production 2% 2% Financial Services & Insurance 3% 3% Retail 1% 2% Construction, Infrastructure & Real Estate 29% Hospitality Professional Services 9% Telecommunications TOTAL Transportation 1% Non-profit and Charity Organizations 4% Education & Training Media 6% Agriculture, forestry and fishing 16% Biotechnology & Pharmaceuticals 12% Advertising & Marketing Other Note: The industries represented here are only those that have featured in the Top 100 Best Companies to Work For 2020 Copyright © 2020 Great Place to Work® Institute, Inc. All Rights Reserved. 7 LIST OF 100 BEST COMPANIES TO WORK FOR 2020 1. Intuit India 25. Mahindra & Mahindra Financial Services Ltd. 2. DHL Express (India) Pvt. Ltd. 26. Ericsson India Pvt. Ltd. 3. Ujjivan Small Finance Bank Ltd. 27. Synchrony International Services Pvt. Ltd. 4. Harrisons Malayalam Ltd. 28. ESDS Software Solution Pvt. Ltd. 5. Bajaj Finance Ltd. 29. Godfrey Phillips India Ltd. 6. Cisco Systems India Pvt. Ltd. 30. Aspire Systems (India) Pvt. Ltd. 7. Barbeque-Nation Hospitality Ltd. 31. Bharat Financial Inclusion Ltd. 8. BMC Software India Pvt. Ltd. 32. Hikal Ltd. 9. Sayaji Hotels Ltd. 33. Salesforce.com 10. Mahindra Insurance Brokers Ltd. 34. Blue Dart Express Ltd. 11. Godrej Consumer Products Ltd. 35. CEAT Ltd. 12. Hilton 36. DHL Logistics Pvt. Ltd. 13. Marks & Spencer Reliance India Pvt. Ltd. 37. PayPal India Pvt. Ltd. 14. Aye Finance Pvt. Ltd. 38. Cushman & Wakefield 15. Marriott Hotels India Pvt. Ltd. 39. GE India Industrial Pvt. Ltd. 16. Adobe Inc. 40. TransUnion Global Technology Center LLP 17. Indus Towers Ltd. 41. HERE Technologies Pvt. Ltd. 18. Novac Technology Solutions Pvt. Ltd. 42. InMobi Technology Services Pvt. Ltd. 19. Mahindra Rural Housing Finance Ltd. 43. Brigade Enterprises Ltd. 20. Mahindra & Mahindra Automotive & Farm 44. Kronos Inc. Equipment Sectors 45. S.C. Johnson Products Pvt. Ltd. 21. Tech Mahindra 46. DHL Supply Chain India Pvt. Ltd. 22. Atria Convergence Technologies Ltd.
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