Tag: Great Place to Work

Great Place To Work® India reveals that one out of every four employees struggle in speaking up about mental health issues at workplace

National, 20th March 2024: Great Place To Work® India, a renowned workplace assessment and recognition organization, has unveiled a comprehensive report on “Insights from India’s Best Workplaces™ in Health and Wellness 2023” in collaboration with HDFC ERGO General Insurance Company with insights representing a staggering 18.5L+ employees from 210+ organizations. The report showcases that despite a notable increase in the Workplace Wellness IndexTM in the preceding year, 2023 witnessed a dip of 2 points in perceptions. This trend underscores the imperative for consistent attention and improvement in fostering a healthy workplace environment for all employees. Some of India’s best workplaces in alphabetic order are Accenture Solutions Private Limited, Blue Yonder India Private Limited, Capgemini Technology Services India Limited, Flipkart Group (Flipkart Internet Private Limited, Cleartrip, Flipkart Health+), Hindalco Industries Limited.

Notably, the 2023 assessment reflects that the burnout risk remains a concern, affecting 16% of employees in Top 25% Workplaces who experience high burnout, and a concerning 40% of employees in Bottom 25% Workplaces report high burnout. The study also reveals that one out of every four employees struggles to speak up about stress, burnout, anxiety, or depression without feeling judged. Although organizations have begun providing mental health benefits, including counseling services and wellness leave policies, low utilization rates highlight the need for a structured framework to support employees who are open about their struggles.

Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work®, India, stated that “Employee wellbeing – a concept that went from a niche idea to a boardroom priority – has reached a critical juncture. While the significant rise in the 2022 Workplace Wellness Index signaled a positive shift, the dip in employee perceptions in 2023 tells a different story. This year’s data reveals a concerning 2-point decline in overall satisfaction, coupled with a 3-point increase in burnout experiences. It’s a stark reminder that true well-being isn’t a one-time initiative but a continuous journey that requires unwavering commitment. While industries like construction and retail are leading the charge, the decline in Mental Health Support, Professional Growth and Development, and Effective Management and Engagement highlights areas demanding collective action. It’s no secret that the fear of judgment often prevents even one in four employees from voicing issues like stress, burnout, or anxiety. This silence underscores the need for a more transparent and supportive environment.

Here’s where leadership plays a pivotal role. While leaders consistently report higher workplace wellness experiences, the gap between their perception and that of non-managerial employees presents a powerful opportunity. The dip in 2023 scores among non-managerial employees, from 83% to 81%, underscores the urgent need for leaders to prioritize and lead well-being initiatives. Imagine the impact when leaders “walk the talk” by openly discussing their well-being journeys, fostering empathy, and actively listening to employee concerns.

The goal is to create a work environment where employees feel comfortable and deeply proud. This pride fuels self-esteem, propels creativity, and ultimately drives organizational growth. However, achieving this requires leaders to champion employee development. Supporting career progression planning, prioritizing training and development opportunities, and cultivating a culture of shared decision-making empowers employees and fosters a sense of ownership. By empowering employees and providing them with the tools they need to thrive, leaders foster a workplace where everyone feels valued, supported, and empowered to reach their full potential.

This year’s India’s Best Workplaces in Health and Wellness list shines a light on organizations that prioritize employee well-being. To all the winners, I wish you heartfelt congratulations. You are the beacons illuminating the path towards a future where every workplace prioritizes employee well-being, fostering not just productivity but a thriving ecosystem of engaged, empowered individuals. Let’s continue learning from each other, innovating, and building workplaces where well-being isn’t just a trend but the very foundation of a thriving and successful future.”

On a positive note, 83% of employees report having a positive sense of community at their workplace. However, perceptions of community tend to increase with age, with workers aged 25 or below reporting the lowest sense of community.

Companies that prioritize well-being witness three times more employees leveraging innovation opportunities. Conversely, organizations in the bottom quartile have only a fraction of employees experiencing innovation opportunities, highlighting the link between well-being and productivity.

A happy and healthy workforce is not only more productive and engaged but also fuels creativity and innovation, leading to a rewarding impact on the bottom line. By fostering a culture of well-being, leaders make a strategic investment in the future of their business.

Club 125 celebrates the success of a spectacular cricket extravaganza

Winner
Noida,15th March 2024 : SOY Asset Management and YGR in partnership with OKAS, yet again orchestrated a spectacular Club Cricket League for Club 125 tenants, held from 13th to 15th March 2024. This thrilling event, co-sponsored by Decathlon, brought together all the cricket enthusiasts of the Club community for an unforgettable sporting extravaganza.
The event witnessed enthusiastic participation from renowned companies such as Sunsource Energy, Religare Broking Ltd, Dataflow, Vindhya Telelinks, Techmatrix Consulting, Healthcare at Home and Rategain.
batsman
The grand finale held on the 15th saw Team Rategain clinching victory, lifting the trophy presented by Director of Techmatrix IT Consulting Private Limited, Mr. Shiv Kumar Sharma. Team Techmatrix secured the first runner-up position, receiving their trophy from Mr. Vinod Sharma, AVP-Human Resources at Vindhya Telelinks Limited. In recognition of his outstanding performance throughout the league, Durgesh Singh from Team Rategain was crowned the “Man of the Series”. He was presented the award by Mrs Leena Sengupta, COO-SOY along with a cash prize from Decathlon.
The event exemplified the commitment of Club 125 to reimagine the office experience and provide a vibrant work environment for its esteemed tenants and their employees. SOY’s office platform in partnership with OKAS consistently organizes tournaments, activities, workshops, and daily yoga sessions, aiming to create a conducive and enriching work environment within its buildings. By nurturing various clubs and promoting the overall well-being of the Club community, they ensure that all the employees of their tenants experience a “Great Place To Work “.

Great Place To Work’s ESG Report Reveals Commitment to Social Sustainability

National, 12th January 2024- Great Place To Work® India, renowned workplace assessment and recognition organization has announced the findings of Commitment towards Social Sustainability™ report. The report draws direct impact of workplace’s engagement in social initiatives to societal betterment and positive mental and emotional health wellbeing of employees. The report categorizes organizations that fall within the top quartile of Social Sustainability Index as ‘Socially Conscious Workplaces’ and organizations at the bottom quartile of Social Sustainability Index as ‘Other Workplaces’.

Of the 13 lakh employees surveyed, Information Technology (IT) industry stood at the forefront of social consciousness at workplace with 79% employees responding positively to aspects of social sustainability followed by Manufacturing & Production (77%) and Financial Services & Insurance (73%). However, despite industry’s commendable response to aspects of social sustainability, inclusive growth and equitable development remain the area that demand more attention, ranking lowest among surveyed factors.

The findings also bring out increased preference among younger workforce for Socially Conscious Workplaces with 91% of GenZ employees reporting contentment with facilities that contribute to a good working environment at their organization, which is 24% more as compared to other workplaces. This is interesting as it is seen that Socially Conscious Workplaces cultivate an emotionally supportive and transparent work setting by promoting employee well-being.

It is also observed that employees respond positively to aspects like approachable leadership (90%), responsive management (89%), recognition of excellence (87%), transparent communication (86%) and fairness in promotions (79%) that promote a psychologically and emotionally healthy environment at the workplace.

The report reiterates the importance of promoting inclusive growth and equitable development, thereby fostering an environment that not only supports excellence but also creates ample career and growth opportunities for employees.

The report brings to light a slight discrepancy in women’s satisfaction rates compared to men’s. Women’s satisfaction rates lag behind by 1% to 5% across levels, indicating the need for more targeted strategies to ensure equitable career advancement opportunities.

Given the increased preference of employees for Socially Conscious Workplaces, focusing on ensuring employees feel fair promotions, transparency in communication as well as avoidance of workplace politics will remain future focus areas. Great Place To Work identifies key aspects crucial for a Socially Conscious Workplace, emphasizing role clarity, approachable leadership, responsive management, fair appeals, recognition for excellence, leadership development, key talent attraction, transparent communication, and fairness in promotions.

Micron Named One of Fortune’s Best Workplaces in Manufacturing and Production

BOISE, Idaho— Micron Technology, Inc., has been named one of the 2021 Best Workplaces in Manufacturing and Production by Fortune magazine and Great Place to Work®. The recognition reflects the company’s success in creating an engaging culture of innovation where team members are seen, heard, valued and respected, further illuminating Micron’s commitments to diversity, equality and inclusion. Honorees are also recognized for their ability to be competitive in the global marketplace, especially during the pandemic when worker well-being has been critically important.

“Micron’s manufacturing teams are committed to supplying world-class quality and cost- competitive memory and storage products around the globe,” said Manish Bhatia, executive vice president of Global Operations at Micron. “This recognition reflects our team’s excitement in delivering Micron’s industry-leading technology at scale, and their strong engagement as we continue to support our customers while keeping our employees safe during the pandemic.”

Micron has 13 manufacturing sites around the world that employ over 60% of its workforce. During the pandemic, the company’s acute focus on safety and well-being enabled its manufacturing team to continue delivery of essential memory and storage solutions to market. The company was among the first in the industry to implement safety protocols and procedures such as thermal scanning, digital contact tracing and onsite testing to keep team members safe. Additionally, every Micron manufacturing site established its own remote-operations control center, using automation and augmented reality/virtual reality (AR/VR) solutions to help perform tool installations and maintenance when suppliers, engineers and technicians couldn’t physically be present.

The Best Workplaces in Manufacturing and Production award is based on analysis of survey responses from more than 220,000 current employees. In that survey, Micron’s results are 9% higher than the average U.S. company.

“We are incredibly proud of this moment as it acknowledges how we continue to take important actions to keep our team members safe during the pandemic and ensure every individual at Micron has a voice and is valued and respected,” said April Arnzen, Micron’s chief people officer. “More importantly, it reflects what our employees are saying and experiencing in our culture.”

The recognition follows Micron’s recent placements on Great Place to Work® lists of Best Workplaces™ in China, Germany, Japan, Italy, Singapore and Taiwan. The company was also recognized by Great Place to Work® as a Best Workplace in Asia.

Federal Bank Wins Great Place to Work Certification

Federal Bank has been recognized as a Great Place to Work in a study conducted by the Great Place to Work® Institute. Great Place to Work® Institute works with companies around the world to build a High-Trust, High-Performance CultureTM that drives better business performance.

Great Place to Work® Institute recognizes organizations on multiple parameters to arrive at the coveted list of companies that provide an enabling environment of sustenance, growth, engagement, work‑life balance and more positive workplace culture aspects to its employees. This certification is particularly significant with the world currently engulfed in the COVID-19 pandemic which has caused tremendous employment challenges and disruptions worldwide. Analyzing the relationship of employees with management, with other employees and with their jobs, the assessment criteria of this survey is built around the core criterion of Trust.

Speaking about the certification, Ajith Kumar K K, Executive Vice President & CHRO said, “The certification comes to us as a great recognition and endorsement by Great Place to Work® Institute and our own employees, for some of the unique and innovative initiatives and best practices followed in Federal Bank, rooted in highly ethical, and inclusive professional environment, topped up with a caring Family culture.”

Speaking on the occasion, Shyam Srinivasan, Managing Director & Chief Executive Officer, Federal Bank said, “It is an honour and a huge source of pride to get recognized as a Great Place to Work, especially considering how resilient our team has been in a very challenging environment. In our quest to enhance our workplace and develop in every employee a high degree of pride and loyalty in serving the Bank, this recognition is a strong testimony to our culture, policies and initiatives towards development practiced as a part of our corporate philosophy. Our employees are the ones who put their passion for their work and drive better business results thereby making a difference to our customers.

About 41% of the bank’s employees have been with Federal Bank for over 10 years or more, and 18% for more than 20 years. Long employee tenure is a testimony to the Bank’s splendid HR practices.