In 2023, a recent report raised concerns about burnout, with 27% of employees in major Indian companies affected—a 3% increase compared to mid-sized firms. This insight, extracted from Great Place To Work's IT & IT-BPM report, revealed a notable gender discrepancy. Specifically, female senior managers encountered a 5% higher burnout rate than their male counterparts.
Interestingly, as of the report, large organisations showcased a 1% enhancement in overall employee experience. On the other hand, mid-sized entities maintained an impressive 85% score, outperforming their larger counterparts. This highlights a noteworthy trend where mid-sized companies excelled in preserving positive employee experiences, even amid prevalent burnout challenges.
"This year we see that the industry has experienced subtle shifts in employee perceptions as compared to the last year. While the overall employee experience saw a dip, dimensions like Pride and Fairness emerged as the highest and lowest in employee sentiment, respectively," said Yeshasvini Ramaswamy, CEO, Great Place To Work India.
"The reduction in Camaraderie (-1 per cent) and a diminished sense of Pride (-1 per cent) among employees has shaped the overall employee experience," she added.
The report emphasised that IT companies are dedicating an average of 1.97 crore annually to training and development, signifying a strong commitment to fostering employee growth. To tackle current challenges, Workplace Ikigai emerges as a comprehensive solution, empowering individuals to align their personal passions, build meaningful relationships, embody exceptional leadership, and create a lasting impact.
Approximately 83% of Best Workplaces make mindful investments in their employees' growth. While Leadership excellence scores the lowest in Workplace Ikigai, the report notes an upward trend, highlighting the growing importance of accountability and authenticity at leadership levels.
Workplace Ikigai not only enhances employee well-being but also contributes to increased productivity, higher retention rates, and greater innovation. In 2023, a substantial 77% of IT companies actively monitor employee well-being, with 55% employing multiple methods.
The report underscores that the convergence of IT workplaces and personal fulfilment is crucial for achieving a remarkable 1.7X higher retention rate.