Microsoft has emerged as the ‘Best Company to Work for in India’ in the Business Today-Mercer Study 2007, followed by MindTree Consulting and Johnson & Johnson in the second and third ranks, respectively. The study revealed that IT companies ruled the roost, with seven entries out of the top 10 best companies to work for in India. Business Today, Mercer and Taylor Nelson Sofres (TNS) had jointly conducted the study.
Over 50 per cent of the employees surveyed were in the age group of 25-35. Higher levels of remuneration and open communication were cited as key drivers, but interesting work, ‘challenging’ targets with growth and development opportunities emerged as the key differentiators between the best employers and other participating companies.
Having invested in world-class HR processes and policies to have a clear understanding of employee aspirations, the best employers have tried to develop leadership and mentoring qualities, internal transfers, global opportunities, two-way communication and reward systems. This has emerged as a common thread in the top 15 companies.
Business Today has been conducting this survey for seven consecutive years. Since the past four years, it has collaborated with Mercer and TNS for the same. Mercer is a global consulting, outsourcing and provider of investment services, while TNS is a global market insight and information group.
Padmaja Alaganandan, Principal Consultant, Mercer, said, “Clearly, compensation has emerged as a necessary but not sufficient condition for employee engagement. This is good news for companies who are currently facing increasing pressure on margins due to spiralling compensation costs. Companies need to take a good look at jobs that they offer and build in elements of autonomy, challenge and scope for innovation to have a truly ‘engaged’ workforce.”
This year, 129 companies registered for the survey, of which 94 completed all participation formalities. To be eligible, companies must have had a minimum of 200 management or executive level employees in India, and be in existence in India for a minimum of four years.
Other companies that are in the list of best companies to work for in India include Sapient, Infosys Technologies, iGate, Agilent Technologies, HCL Comnet, Accenture, Dr Reddy’s Labs, Marriott Hotels India, Covansys India, HCL Infosystems, Godrej Consumer and Honeywell Technology.
Comparing last year’s results, Infosystems has come down to fifth position this year. Microsoft India is a new entry this year, along with iGate, Accenture, Marriott Hotels India, HCL Infosys, Godrej Consumer and Honeywell Technology.