Kincentric Best Employers 2023 in India

What does it mean to be an employer of choice in times of changing economic scenarios, global financial downturn, and socio-political turmoil that add complexity to the challenges faced by organizations in an already fast paced and competitive world? Kincentric Best Employers study with a legacy of 24 years, based on research that goes back 5 decades - unearths what it truly means to stand out among peers and BE the Best! “Over the years, we have seen organizations that have a relentless focus on aligning business and people strategy and meticulously executing the people strategy through right programs and practices, keeping pace with the emerging business paradigm as the Best Employers”, says Anurag Aman, MD and Market Leader for Kincentric India.

Kincentric unveiled the Best Employers 2023 in India on 6th of March, 2024 at the Learning Conference with Cornerstone as the Knowledge partner, and Business Today as Media partner. The event brought together CEOs, CHROs and industry stalwarts together for a line up of enriching panel discussions and masterclasses. The CEO panel with industry stalwarts revealed what drives and impedes effective succession planning  - exchanging views on the importance of multidimensional experiences and taking the “punt” on key talent. The future of workforce was discussed by the esteemed panel of people leaders (CHROs), who drew attention to future fit capabilities like agility, networking and having the courage to fail!

Nishchae Suri, MD, Cornerstone engaged the audience with practical tips on strengthening employer brand. “Organizations can enhance their employer brand through strategic skilling and career advancement initiatives showcasing how employees can grow and develop in the organization. Building a continuous learning culture helps them attract and retain critical talent and in turn drives sustainable growth”, shared Suri. 

Kincentric Best Employer’s Methodology 

The Kincentric Best Employers study is one of the most tenured and respected annual studies with a robust evaluation methodology to understand alignment across business intent, people processes and employee experience. This discovery for each of the participating organization is then presented to an eminent jury panel who finally select the Kincentric Best Employers – the very best in India. 

Here are the Kincentric Best Employers 2023 in India:

What is enabling Kincentric Best Employers to stay ahead of their peers?

1. Consistency: Engagement is driven by multiple experiences over a period of time

An engaged workforce is not attributed to a few standout practices; it is an outcome of multitude of positive experiences across the employee lifecycle. 

In 2023, Kincentric Best Employers were specifically ahead in areas of empowering talent, strengthening work life balance, recognizing efforts, creating a powerful brand impact, ensuring an accepting and diverse environment, and deploying dynamic talent attraction strategies. 

2.Culture: Best Employers lead the way in assimilating their culture through everyday experiences

Building a culture is no longer just a ‘good-to-have’ but is a source of competitive advantage after all it is people who fuel business results. Employees at Kincentric Best Employers feel a strong sense of connection with their brand and have a clear understanding of what it stands for. 92% of employees from Kincentric India’s Best Employers can clearly explain what makes working in their organization better than others.

These organizations have a well-defined and socialized Employee Value Proposition (EVP), a strong alignment with the business strategy and a workforce that feels valued. They are leveraging every interaction that the organization has with its employees as an opportunity to elevate their experience. 

3.Connection: care, direction and connect with immediate as well as senior leadership amplifies engagement

The early 2000s marked a rage in the idea that “managers own engagement”. Over time, this over dependence on managers to drive engagement has not only shifted focus from the role that top leaders can play in driving employee engagement, but also contributed to managers feeling squeezed between leaders’ and employee expectations. 

Kincentric Best Employers study reveals that it is the dual focus from both the immediate as well as the top leadership that is a differentiator in driving engagement.

Best Employers report a significantly high number of engaged people leaders than the rest which is driven by their ability to connect with the organization’s strategic priorities, and a feeling of being valued and empowered. 

Our research at Best Employers points to this ‘X’ factor, that it is not only managers who drive engagement but also senior leaders that shape key experiences for the entire organization. Senior leadership has a significantly higher impact on employee engagement than managers, driven by key experiences around brand, culture, and career development.

The opportunity for organizations is to strike an effective balance between the actions and outcomes of senior leadership and managers.

The journey ahead

Being a Best Employer is more than a trophy, it is a commitment to continuously keep the spotlight on their people experiences. As the business environment is evolving, even the best need to consistently adapt to the changing ecosystem that they operate in.  

The future is heading towards increased digitization, where technology will play a central role in our daily work. Embracing a digital mindset will be crucial for navigating through the evolving landscape of work. This would require focusing on building/rebuilding the desired culture- prioritizing innovation, autonomy, and empowerment to enable employees to explore more and achieve breakthroughs that were once thought impossible. What would remain unchanged even in times ahead is that despite technological advancement, organizations that stay ahead would be the ones who prioritize their people and enable them to lead from the front.

Kincentric Best Employers continue to spearhead and showcase that people are the true asset for an organization and enablers of success. Here is the list of the members of the Kincentric Best Employers club that have upheld people experiences consistently in the last three years:

Authors:

Shephali Karn
Director, Kincentric India

Radhika Shah
Consultant, Kincentric India