Over the years, Hewitt Best Employer surveys have thrown up surprises across verticals and brought into sharp focus newer domains with fresh initiatives, which never fail to enhance and enchant their workforce. The ET-Hewitt Best Employer Survey 2007 is yet another milestone in tossing up unexpected winners.
For a change, none of the PSUs figure in the 2007 survey. Increasingly, the ‘Best Employers’ are seen as organizations that are differentiating performers and rewarding them through aggressive variable pay plans. One of the reasons why PSUs score low as Best Employers is owing to policy restraints. There are no government guidelines where upper limits of compensation have been fixed, which do not compare even with lower limits of pay in the private sector.
Furthermore, this time, retail has made a strong entry with companies that directly connect to consumers having more engaged employees. Retail has a very strong connect with consumers as it engages the employee. There seems to be an immediate tangible benefit for the employee with retail being a new economy and high impact vertical.
Another noticeable trend from this year’s survey is the much-maligned ITeS industry providing opportunities at the end of the day. Out of the top 25 companies as many as four figures from the ITeS domain. A young and restless India is seeing this as an opportunity to be a part of the global landscape.
It’s the demand and supply situation because readymade talent from outside is difficult to find, so organizations have to ensure mechanisms to train people. Further, there’s pressure to ensure good people stay and so processes have been firmed up in ITeS companies. Even IT companies sit pretty with five out of 25 best employers in its kitty.
Indeed, at such a dynamic moment, IT companies are gung-ho about branding themselves as Best Employers. Pharmaceutical companies have also made an impression among the top 25 this year. These companies have more engaged employees owing the larger cause of being of service to mankind as well as huge focus on quality. These companies would never take a risk on quality and this leads to an engaged workforce. It’s a reflection of how critical talent is in a knowledge based industry like pharma. It’s also a reflection of how some of the frontline companies are growing at a phenomenal rate.
All in all, there’s been a marked shift to services from manufacturing since the last Hewitt survey in 2004. The ‘connect’ with consumers and more opportunities seem to bring in better connect with employees, who now believe that they are making a direct impact on their jobs.