The India’s Best Companies to Work For study, running in its 10th year with The Economic Times, has revealed that career growth, caring like a team/family, fairness and benefits are the four trust boosters that impact employees’ perceptions about their workplaces and differentiate the best workplaces from the rest.
The fact that these factors have hardly changed in the past five years also proves the longevity of these key drivers. In a rapidly changing environment, they can be counted upon to retain prime importance for a significant amount of time. So how are some of the best workplaces leveraging the four Trust Boosters
1. Career growth
Mahindra Auto uses MPower – an algorithm-based career simulation tool to explore and create a dream career path. The tool helps in identifying the skill and knowledge gap between the current and the desired role and presents the user with multiple paths to bridge the same.
The user can not only choose a dream path but also create Individual Development Plans based on this dream path. The ‘My Job My Choice’ platform of Bajaj Allianz General Insurance lets employees share their desired job profiles of the next three years and mobility preference on an online link.
Subject to availability, the organisation would consider the employees for job profiles matching their preferences.
Adopting a unique approach, FedEx provides non-managerial employees with an opportunity to undertake managerial responsibilities for a limited period by appointing them as ‘acting managers.' Besides meeting shortterm business needs, this practical opportunity enables aspiring managers to understand their development needs.
2. Caring like a team/family
Study shows that organisations which have employed structured methods to thank employees’ families and involve peers in welcoming new employees to the organisation not only enjoy a high positive perception as a caring employer, but have 2 and 4 times higher chances of breaking into the league of the 100 Best Companies to Work For in India.
At Lifestyle International, managers re-create the treasured moments from their team members’ past and help them in re-living small joys of life, such as meeting an old friend visiting one’s school, relishing homemade food and spending a day with parents.
Going a step further, the learning & development team of Forbes Marshall prepares a separate training calendar for employees’ families. The calendar consists of programmes related to education, parenting, cookery, yoga, cancer awareness etc.
In the true family spirit, Gozoop, a digital-marketing company, shelters terminated employees until they are able to find new jobs, which means there’s no finite notice period.
The tough nut of fairness is here again, but this time with some ways to crack it. The promotion process at iNautix Technologies presents an example. Promotions are reviewed and recommended by an independent committee having representation from various organisation teams.
These recommendations are accepted by the senior management. To ensure absolute fairness, nominations for managerial promotions require at least three additional sponsors who would have been direct stakeholders of the nominee’s performance.
Coming a long way from the earlier culture of concealed performance reports, Indian Oil has institutionalised a practice of releasing the appraisal ratings to the individual officer.
A deeper look at the aspects of fair pay, profit sharing, perceived favoritism by managers and workplace politics reveals that these are influenced by faith in management’s reliability – specifically, the faith that management’s actions match their words and the management delivers on its promises.
Few years back during the economic recession, top management accepted a pay cut of 5-10% to reduce expenses, to curtail the impact that may have resulted in job cuts,” says an employee from one of the best workplaces in the logistics industry.
Every incidence can be an opportunity to build trust, as shown by the management here.
While many benefits are common across organisations, it is their implementation that makes them special and unique.” For those employees who have entrepreneurial dreams, SAP Labs provides sabbatical leave for up to two years to pursue them – with the safety of a job waiting for them if things don’t go as planned.
All employees in Intuit get a free pulse device and earn points based on activities they perform, like yoga, taking a water aerobics class, riding a bike, getting enough sleep, drinking plenty of water and engaging in stress reduction activities.
Once they have reached a certain level, they are eligible to earn credits and redeem the same against merchandise/vouchers. Best workplaces continually revisit their benefits to keep them relevant with changing needs and varying demographic profiles.
Trust inspires innovation, fuels performance and boosts retention. Trust promotes organisational agility, aids leaders to be successful and enhances customer satisfaction.
These are established facts. The conclusions of India’s Best Companies to Work For study couldn’t have come at a better time. Offering a promising career to quality talent, building a caring and inclusive culture, providing supportive benefits that help talent thrive, and rewarding fairly are all in sync with the critical enablers of success, along with knowledge drawn from the best workplaces that are winning this league.