Mumbai, June 21, 2024: Great Place To Work® has revealed insights from its report titled India’s Great Mid-size Workplaces 2024 which shows that women are 2X more likely to express a desire to stay with their organization long-term when issues of fair pay, recognition, and favouritism are addressed. As per the report, The Trust Index Grand Mean among women employees has seen a decline in 2024 while it remained constant for men highlighting the growing need for equitable pay, recognition, and unbiased workplace practices. The insights are released as part of felicitation of Top 100 Mid-Size Workplaces for 2024 chosen from 1200+ organizations that are assessed on their efforts to building a great workplace culture.
Fair Pay (-6%), Recognition (-5%) and Favoritism (-5%) are the areas with highest difference in sentiment between men and women. When organizations address these issues, women are 3X more likely to experience career growth opportunities, 2X more likely to express a desire to stay with their organization long-term and 2X more likely to experience a great workplace.
The decrease in workplace culture within mid-size workplaces is largely driven by a few key demographic segments. Gen Z employees showed lower scores in areas such as intent to stay (-8%), meaningful impact (-7%), and purposeful work (-6%). Addressing these issues makes Gen Z employees 3X more likely to look forward to coming to work 2X more likely to feel a sense of pride in the organization’s accomplishments and 3X more likely to experience a great workplace. Supervisory employees also exhibited a decline in perceptions of employee care, empowerment, and favoritism. Additionally, employees with the tenure of 2 to 5 years have also witnessed a drop in perception, with lower perception in areas like Intent to Stay and Fair Pay and Profits. Despite the slight decline in overall workplace culture scores this year, it is noticed that for every 2 employees that don’t experience innovation opportunities, there are 9 employees that are ready to innovate.
Top Ten of the India’s Top 100 Great Mid-Size Workplaces recognized by Great Place To Work are H & R Block (India) Private Limited, Version 1 Services Private Limited, Pitney Bowes India Private Limited, UPES, Varthana Finance Private Limited, Syngenta Services Private Limited, Music Broadcast Limited (Radio City 91.1 FM), WWT India Private Limited, Experian India and Crest Digitel Private Limited.
“Heartiest congratulations to all the winners of India’s Great Mid-Size Workplaces 2024! Your remarkable achievements are a testament to your unwavering commitment to building and nurturing exceptional workplace cultures, a crucial element in today’s dynamic and competitive business environment.
We firmly believe that a positive employee experience and a culture of diversity are the foundations of organizational resilience. Your commitment to empowering individuals and fostering a sense of belonging for all distinguishes you as a true leader. To ensure a comprehensive evaluation for India’s Great Mid-size Workplaces 2024, we utilized a rigorous assessment process, which included the Trust Index™ survey and the Culture Audit™. The employee feedback in the form of Trust Index, accounting for 75% of the evaluation, measured the quality of employee experience, while the Culture Audit (25%) assessed the strength of leadership, values, and programs that shape employee journeys.
Our 2024 data shows a slight dip in the overall workplace culture experience among India’s mid-size businesses, now at 83% compared to the previous year. This underscores the importance of continuous efforts in maintaining and enhancing employee trust and satisfaction. Areas such as fair promotions, job security, recognition, collaboration and non-discrimination have room for improvement.
Interestingly, our research identifies ‘Fair Performance Evaluations,’ ‘Care for Employees,’ ‘Walking the Talk’ (leadership by example), ‘Leadership Development,’ and ‘Talent Attraction’ as key drivers of employee satisfaction in mid-size organizations for 2024. This underscores the need for a balanced focus on various management practices.
In today’s dynamic landscape, you navigate challenges and seize opportunities, demonstrating your commitment to thriving workplaces. By prioritizing these key drivers, you’ve demonstrably created vibrant environments where employees flourish. Our research further underscores this, showing that Best Workplaces™ score 7% higher on these drivers than Others. Your effective implementation of these drivers fosters vibrant cultures, contributing to your success and sustainability. These efforts have also positioned you as the industry leader, shaping India’s economic landscape and inspiring excellence.
May your continued success stand as a lasting example of the transformative power of a supportive and inclusive workplace culture. Once again, congratulations on this well-deserved recognition, and we wish you continued success in the years ahead.” said Balbir Singh, CEO, Great Place To Work®, India.
The report surveyed over 4.3Lakhs employees from 1200+ organizations spread across vaMumbai, June 21, 2024: Great Place To Work® has revealed insights from its report titled India’s Great Mid-size Workplaces 2024 which shows that women are 2X more likely to express a desire to stay with their organization long-term when issues of fair pay, recognition, and favouritism are addressed. As per the report, The Trust Index Grand Mean among women employees has seen a decline in 2024 while it remained constant for men highlighting the growing need for equitable pay, recognition, and unbiased workplace practices. The insights are released as part of felicitation of Top 100 Mid-Size Workplaces for 2024 chosen from 1200+ organizations that are assessed on their efforts to building a great workplace culture.
Fair Pay (-6%), Recognition (-5%) and Favoritism (-5%) are the areas with highest difference in sentiment between men and women. When organizations address these issues, women are 3X more likely to experience career growth opportunities, 2X more likely to express a desire to stay with their organization long-term and 2X more likely to experience a great workplace.
The decrease in workplace culture within mid-size workplaces is largely driven by a few key demographic segments. Gen Z employees showed lower scores in areas such as intent to stay (-8%), meaningful impact (-7%), and purposeful work (-6%). Addressing these issues makes Gen Z employees 3X more likely to look forward to coming to work 2X more likely to feel a sense of pride in the organization’s accomplishments and 3X more likely to experience a great workplace. Supervisory employees also exhibited a decline in perceptions of employee care, empowerment, and favoritism. Additionally, employees with the tenure of 2 to 5 years have also witnessed a drop in perception, with lower perception in areas like Intent to Stay and Fair Pay and Profits. Despite the slight decline in overall workplace culture scores this year, it is noticed that for every 2 employees that don’t experience innovation opportunities, there are 9 employees that are ready to innovate.
Top Ten of the India’s Top 100 Great Mid-Size Workplaces recognized by Great Place To Work are H & R Block (India) Private Limited, Version 1 Services Private Limited, Pitney Bowes India Private Limited, UPES, Varthana Finance Private Limited, Syngenta Services Private Limited, Music Broadcast Limited (Radio City 91.1 FM), WWT India Private Limited, Experian India and Crest Digitel Private Limited.
“Heartiest congratulations to all the winners of India’s Great Mid-Size Workplaces 2024! Your remarkable achievements are a testament to your unwavering commitment to building and nurturing exceptional workplace cultures, a crucial element in today’s dynamic and competitive business environment.
We firmly believe that a positive employee experience and a culture of diversity are the foundations of organizational resilience. Your commitment to empowering individuals and fostering a sense of belonging for all distinguishes you as a true leader. To ensure a comprehensive evaluation for India’s Great Mid-size Workplaces 2024, we utilized a rigorous assessment process, which included the Trust Index™ survey and the Culture Audit™. The employee feedback in the form of Trust Index, accounting for 75% of the evaluation, measured the quality of employee experience, while the Culture Audit (25%) assessed the strength of leadership, values, and programs that shape employee journeys.
Our 2024 data shows a slight dip in the overall workplace culture experience among India’s mid-size businesses, now at 83% compared to the previous year. This underscores the importance of continuous efforts in maintaining and enhancing employee trust and satisfaction. Areas such as fair promotions, job security, recognition, collaboration and non-discrimination have room for improvement.
Interestingly, our research identifies ‘Fair Performance Evaluations,’ ‘Care for Employees,’ ‘Walking the Talk’ (leadership by example), ‘Leadership Development,’ and ‘Talent Attraction’ as key drivers of employee satisfaction in mid-size organizations for 2024. This underscores the need for a balanced focus on various management practices.
In today’s dynamic landscape, you navigate challenges and seize opportunities, demonstrating your commitment to thriving workplaces. By prioritizing these key drivers, you’ve demonstrably created vibrant environments where employees flourish. Our research further underscores this, showing that Best Workplaces™ score 7% higher on these drivers than Others. Your effective implementation of these drivers fosters vibrant cultures, contributing to your success and sustainability. These efforts have also positioned you as the industry leader, shaping India’s economic landscape and inspiring excellence.
May your continued success stand as a lasting example of the transformative power of a supportive and inclusive workplace culture. Once again, congratulations on this well-deserved recognition, and we wish you continued success in the years ahead.” said Balbir Singh, CEO, Great Place To Work®, India.
The report surveyed over 4.3Lakhs employees from 1200+ organizations spread across various sectors including IT, Manufacturing, and service sector like Professional Services, Financial Services and Insurance, etc.
Organizations that focus on fair performance evaluations, care for employees, aligning leadership actions with values, leadership development, and effective talent attraction can create vibrant workplaces where employees thrive, contributing to overall success and sustainability. Addressing the concerns of key demographic segments such as women, Gen Z, mid- tenured and supervisory employees is essential for maintaining a positive and productive workplace culture.rious sectors including IT, Manufacturing, and service sector like Professional Services, Financial Services and Insurance, etc.
Organizations that focus on fair performance evaluations, care for employees, aligning leadership actions with values, leadership development, and effective talent attraction can create vibrant workplaces where employees thrive, contributing to overall success and sustainability. Addressing the concerns of key demographic segments such as women, Gen Z, mid- tenured and supervisory employees is essential for maintaining a positive and productive workplace culture.
