This summer marks 20 years since the historic 1991, following the liberalization of the Indian economy. Since then, India’s GDP has quadrupled, its forex reserves have increased, from $5.8 billion to $319 billion, and exports from $18 billion to $178 billion. Even more astonishing are the changes that workplaces have undergone in corporate India.
Today, 73 percent of the workforce in India is less than 35 years of age, as reflected in ‘The Best Companies to Work For’ Study, India 2011. This young workforce has been brought up in an India that has witnessed exponential growth and increasing opportunities. This reality has redefined the employer-employee relationship, thus creating a new paradigm. Jobseekers have many options and employers have understood that compensation alone can only take them so far. Today’s employees look for a sense of purpose in what they do at work and seek fairness, trust, and warmth when choosing an employer.
For the second year in a row, we are glad to bring to you the special issue on “Best Companies to Work For” in collaboration with Great Place to Work® Institute India. This special issue highlights the best practices of the top 25 winning companies on the culture, the programs and initiatives that make them a great workplace. For a complete study on the Top 50 winners for this year, you can reserve your copy of “The 50 Best Companies to Work For – India 2011” Collector’s Book online at http://peoplematters.in
In our regular sections, Elango R. brings his ever interesting perspective on employee surveys on how companies sometimes miss the purpose and objective of collective feedback when intention, process, and action are not aligned. In the “The Counsellor”, Vivek Paranjpe shares his expert advice on how companies need to balance between demanding high performance from employees and ensuring an environment of care and fairness.
We congratulate the winners of the Great Place to Work® Study and also thank the CEOs and the HR Heads for their contribution and continuous support.