Mumbai, November 28, 2024: Great Place To Work® has released its India Best Workplaces in IT and IT-BPM 2024 report, highlighting the companies that are leading the way in creating thriving, resilient workplace cultures. 1 in every 5 IT employees is questioning their job stability, reflecting growing concerns within the workforce. Employees today are increasingly seeking a better balance between their work and personal lives, and companies that respond with greater flexibility and support are seeing more engaged, loyal, and productive workforces. This shift underscores the importance of trust, transparent communication, and a focus on employee well-being to maintain high levels of engagement and retention, particularly in the evolving IT sector.
While layoffs have affected headcounts across many IT companies, the impact on employee morale and trust has prompted organizations to take significant steps to restore stability. The report reveals that successful companies are focusing on transparency, communication, and implementing fair compensation practices. These organizations are transforming challenges into opportunities for growth and innovation, with a clear focus on rebuilding trust and maintaining strong workplace cultures.
On this note, Balbir Singh, CEO, Great Place To Work®, India, said, “In a year marked by a mix of opportunities and challenges in the IT sector, including economic headwinds, global layoffs, and technological disruptions, the achievements of India’s Best Workplaces in IT & IT-BPM 2024 stand out as a beacon of hope and excellence. While the sector experienced growth driven by digital transformation, it also faced hurdles such as a global slowdown and rising competition, making these organizations’ adaptability and resilience even more commendable. What distinguishes these winning organizations is their unwavering commitment to upholding trust and stability even as the industry landscape undergoes significant transformations. Despite the sector-wide challenge in engagement, with burnout affecting 29% of IT employees – up 3% from last year – these exemplary workplaces have successfully fostered environments where employees feel heard, valued, and empowered in decision-making processes.”
He also added, “The contrast becomes even more pronounced during tough times. While many companies struggle with disengagement and declining motivation, these organizations have managed to maintain higher engagement levels by focusing on flexibility and inclusive leadership, although overall averages may have dipped. They understand that during times when job security concerns erode trust, strengthening the emotional connection with employees is crucial. While engagement levels may vary across organizations, the best workplaces stand out through their focus on authentic and transparent communications to create impact, improve collaboration, empower employees, and drive purpose. Congratulations to all the winners of India’s Best Workplaces in IT & IT-BPM 2024 list. You are showing us that even in challenging times, building and maintaining a High-Trust, High-Performance culture is not just possible – it’s essential for sustainable success.”
The report also reveals a 3% decline in employee engagement among Gen Z workers particularly in the IT sector, signaling growing challenges in connecting with younger employees who are increasingly prioritizing purpose-driven work and a strong sense of community. This shift emphasizes the evolving expectations of this generation, who seek workplaces that offer more than just a paycheck. To address these changes, IT companies must focus on fostering trust, transparency, and meaningful involvement to improve engagement and retain top Gen Z talent.
In addition to the generational shift in engagement, the IT report highlights the growing issue of employee burnout, which continues to affect a significant portion of the workforce. 29% of IT employees report experiencing burnout this year. IT companies that are actively investing in improving flexibility, fostering involvement in decision-making, and offering a better work-life balance are seeing positive results. These organizations are not only reducing burnout but are also boosting employee satisfaction, leading to higher retention rates and stronger morale.
In these challenging times, organizations that focus on building trust, enhancing employee engagement, and providing a sense of purpose are emerging stronger. Those excelling in these areas, particularly in sectors like IT and IT-enabled services (ITES), are successfully navigating the evolving landscape of the industry. These organizations are not just surviving but thriving—putting their employees at the heart of their strategy, fostering a culture of growth, and ensuring long-term success. By prioritizing employee well-being and creating a workplace that nurtures purpose and belonging, these companies are laying the foundation for a resilient future.
+ There are no comments
Add yours