Best companies to work for in India: India Inc. and the changing HR landscape

10/05/2024

The relationship between employers and employees has undergone a major shift since the pandemic. With massive disruptions across workplaces the world over, both employees and their employers had to go back to the drawing board to work out the new dynamics of their equation. Consequently, work-from-home, hybrid work and the like became terms which came to be a part of HR jargon in a changed, post-pandemic world. That equation has undergone further alterations as companies seek to nurture and retain the best talent in an uncertain and increasingly challenging business environment. This is also borne out by the India findings of the latest ‘Randstad Workmonitor: The Voice of Talent in 2024’ report, which demonstrates how preferences of the workforce have further changed from just wanting flexibility at work and a work-life balance. Of course, workplace flexibility remains a very important area—the report shows more talent in India prioritise their personal life over their work life (65% in India against 60% globally). In fact, 63% wouldn’t even accept a job if they felt it would negatively impact their work-life balance, and 66% wouldn’t hesitate to quit if the job prevented them from enjoying their life, the India findings show.

Aside from this, the big ask from employees is the need to future-proof their skills. With the advent of AI across businesses, the workforce is increasingly opting for organisations that invest in training them in skills for the future. Three in five respondents said they wouldn’t accept a job or would quit one if it didn’t offer learning opportunities to future-proof their skills. AI, and IT and tech literacy top the areas they are most interested in. Organisations are understanding this and investing in their employees, realising that if they don’t, the best talent may look for opportunities elsewhere. The Business Today-Taggd annual survey of The Best Companies to Work For in India reflects many of these trends. The top companies in this year’s list demonstrate a culture of empathy, the willingness to invest in and provide flexibility to employees and embrace diversity and inclusion as key tenets of their HR strategy.

BT and Taggd reached out to salaried employees across sectors. This year, the open online survey had more than 43,000 respondents, compared to 35,000-plus last year. They rated the companies of choice based on people growth initiatives, well-being initiatives, going beyond business, and engagement and connect. The list we bring you this year scores high on several of these parameters. ICICI Bank is at No. 1, followed by Accenture in India at No. 2 and TCS in third place. The list is a stellar line-up of companies that place top priority on employee satisfaction and growth, emerging as aspirational workplaces. The message from the list is clear: organisations that nurture and help talent to grow and give their best are the preferred workplaces of the future.

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