Companies recognized as best employers often perform better on a number of performance measures well over the market average. They also consistently deliver better career opportunities; they have better work-life balance, a well-defined people strategy and are known to have a collaborative work environment. Earlier this year, Aon Hewitt released its annual Best Employers of India list for 2016. After a rigorous process of measuring intent, design, and experience by understanding people practices, employee opinions, and leadership interviews, 24 companies were featured on this list. (Check out the complete list here).
What are some common traits that these companies have?
According to the Study, there are at least four pillars that are central to a Best Employer:
High Employee Engagement: Companies that are identified as best employers have employees who are highly engaged in their workplace, who tend to go beyond their routine work and are more likely to add extra effort and contribute to the success of the company. They also are inclined to speak positively about the organization to their peers, potential employee, and customers.
Compelling Employer Brand: In an era where the war for talent has extended to passive candidates, it is the employer brand of a company that serves as a key differentiator for prospective candidates. According to the Study, the reputation of a company that is the best employer is “well-known” and has a “good reputation” in the market. They are also companies where employees are proud and can explain what makes working in the company different from other organizations.
Effective Leadership: Leading employers have leaders that are visible, accessible and who treat employees as the company’s most valued assets. They are clear-eyed about the future and have a compelling future vision. They also trust their senior leaders to be open and honest; and “and believe they make good business decisions to drive the organization to success”.
High-Performance Culture: An organizational culture that is based on accountability and trust, while rewarding their high performers and enabling them to learn and grow is central to the success of any organization. According to the Study, “managers set clear goals and expectations, and employees know how they can best contribute to realizing their business strategy”.
While all the above factors are central to an employer at any stage, the future will be characterized by increased collaboration and omnipresent technology. This will, in turn, lead to employee expectations geared towards better work-life balance, inspirational leadership and better rewards and recognition programs.
This article is based on insights from the Aon Best Employers India 2016 Study. Your organization could be on this list next year! Participate in the 2017 Aon Best Employer India Study, register here.