This year, the survey saw eight new entrants in the top 25, which included a bunch of players from a cross section of sectors - banking, financial services and insurance (BFSI), telecommunication, consulting and Internet-based companies - with companies such as Flipkart, Capgemini, Idea Cellular, Citibank and Genpact among them.However, two big companies, Larsen & Toubro and Reliance Industries, moved out of the top 10 this time. In fact, Reliance does not figure even in the top 25 and L&T is down to 25 from eight. HR veterans say, on the condition of anonymity, that the main problem with Reliance could be its inability to retain some of the top-notch talent. For instance, its HR head Prabir Jha, who was credited with a few significant people -friendly policies, left the company in July 2015. He had introduced a five-day work week while overhauling the company's people policies. The company has seen a few other high profile exits, too, including that of Sandip Das, the former managing director of Reliance Jio Infocomm. Even in its sports business, attrition levels were on the rise with the exit of Prakash Iyer, the CEO of Mumbai Indians, who left within a year of joining. Such developments, in fact, could have an influence on the brand perception and could end up aiding arguments within HR circles of a possible coterie culture at work. According to HR experts, the inability of L&T's leadership to allow top talent to grow within the company is making both prospective and existing employees look away. Besides Reliance and L&T, the other heavyweights that dropped out of the top 25 were Bharat Heavy Electricals (BHEL), Mahindra & Mahindra, ABB, ONGC, ITC, Coca-Cola and Air India. It was also apparent that companies representing sectors that are under stress, including manufacturing and auto, could not make it to the top 25 list. Overall, top companies across most sectors have more or less remained static with minor changes in positions. "Companies today need to constantly figure out ways to keep employees excited, empower them to make their own decisions and have a sense of ownership," says Mayank Tivary, Lead Recruiter at Facebook India, adding: "Compensation and benefits are important, but so are opportunities to learn and grow very fast." His thoughts were in line with the expectations of the respondents - compensation and benefits, higher job role, responsibility, work environment and culture were the key factors that made a job attractive. But, what prompts employees to be on the lookout for a job? Well, the survey revealed that lack of career growth was a more important parameter compared to compensation levels. The survey also threw up some sector-specific findings. For instance, while employees from pharma and healthcare were of the view that their rewards matched their performance, engi-neering and auto sector employees complained about lower skill enhancement opportunities. However, sectors such as telecom, pharma and healthcare showed the highest level of satisfaction over skill enhancement opportunities. The survey also found that leadership skills were not up to the mark, with one out of every five respondents dissatisfied with their bosses. In fact, employees in start-ups seemed more satisfied with their bosses. Another important finding of the survey was the fact that ethical practices and stability emerged as the top two important factors for employees.
Perhaps, the Business Today Best Companies to Work For survey will have important takeaways for business leaders across companies.