Last updated : February 27, 2023 4:13 pm
Great Place To Work® India has announced India’s Best Workplaces™ in Retail 2023 in its report, which says that the retail sector outshines other industries across all workplace culture aspects, especially on parameters of impartiality, equity, and collaboration at work.
As part of its recognition lists announcement, Great Place To Work® India has announced India’s Best Workplaces™ in Retail 2023. This year, the report found that the retail industry is growing at a CAGR of 10-11% in the country. Between 2019 to 2022, India saw a growth of 5 bps in the Trust Index Grand Mean, and the 2023 Trust Index stabilized at 85%.
Future growth prospects for the retail sector lie in prioritizing digital transformation, expanding e-commerce, adopting omnichannel strategies, and enhancing personalized customer experiences, it says.
The report says the retail sector outshines other industries across all workplace culture aspects, especially on parameters of impartiality, equity, and collaboration at work. Differences between retail and other sectors were observed in employee perception – Most: Impartiality, Equity (4%), and Collaboration (3%) and Least: Justice Intimacy, and Personal Job (1%).
Great Place To Work India has released a list of winners identifying India’s Best Workplaces in Retail
2023, which recognizes organizations that have created a High-Trust, High-Performance Culture ™ for
their employees. This year, 42 organizations in the retail sector undertook this assessment as against 39 in the previous year. All these organizations underwent a rigorous assessment. As part of this assessment, the organizations are studied through two lenses. The first lens measures the quality of employee experience through our globally validated survey instrument known as Trust IndexTM.
The survey helps in seeking anonymous feedback from employees and carries 75% weightage when being considered for the Best Workplaces Lists. The second lens is called Culture AuditTM, which is a proprietary tool of the Institute that evaluates the strength of the leadership as supported by meaningful values & philosophy and the quality of the practices & programs that shape employee experience, build consistent levels of trust, and enable each individual to use their potential to better organizational performance. This carries 25% weightage.
Criteria for selecting the Best Workplaces
1. TRUST INDEX – 75% weightage (An employee survey seeking anonymous feedback)
2. CULTURE AUDIT – 25% weightage (A study of the people practices of an organization)