Godrej Consumer Products, Wipro Spectramind and Birla Sun Life Insurance are the only Indian companies to feature among the top 10 in a survey on the best places to work in India. The other seven are multinational firms.
"Great Workplaces in India" is the local version of the "Great Places to Work" survey carried out every year in 22 countries. This is the first time that India has been surveyed.
At the top of the list is Bangalore-based Texas Instruments, where employees' pride in their co-workers was noteworthy.
The company also won points for employee benefits, policy on sabbaticals and overall professional development.
The number two and three positions were taken by FedEx and Johnson & Johnson, respectively. FedEx's inward focus -- 59 per cent of managers in India have been promoted from within -- and Johnson & Johnson's minimal 'level-linked' benefits won praise from employees.
These three companies are followed by Eli Lilly, Phillips Software, Godrej Consumer Products, Wipro Spectramind, Nokia, Birla Sun Life Insurance and Cadbury's.
In India, the survey has been conducted by Grow Talent, a talent management consulting firm based in Gurgaon, in collaboration with Businessworld magazine and the US-based Great Place to Work Institute, which pioneered the survey in the US over 20 years ago.
The results of the American and British surveys are published in Fortune and Financial Times, respectively.
All organisations -- private and public companies, government agencies and non-government organisations -- that have been in existence for at least two years and have a workforce of over 100 employees are eligible to participate.
Over 120 companies were part of the survey, which was started in February.
The methodology and instruments of the survey in India did not differ from those used worldwide. Questionnaires were distributed at random to about 250 employees at each of the participating organisations.
"The survey helps identify the strengths of companies, which they can then transform into something more visible," said Tushar Makkar, head, brand management, Grow Talent.
Independent analyses conducted in the US show that a good workplace also means decent returns to the stakeholders.
In 2001, annualised stock market returns of the American 100 best companies stood at around 30 per cent for a three-year period; the S&P500's annualised returns for the same period was 11 per cent.
Similarly, according to research carried out by Franklin Research and Development in 1997, $1,000 invested 10 years earlier in the 100 best companies returned $8,188, against a return of $3,976 for $1,000 invested in the Russell 3000.
Clearly, being a great place to work isn't good only for the employees.
What matters
- Employee trust in management, clarity of vision.
- Balance between performance management, compensation and employee care.
- Focus on employee development and family.
