businessgyan - NASSCOM Announces Top 15 "Exciting Emerging Companies To Work For"

Home

Economy & City

Economy

NASSCOM Announces Top 15 "Exciting Emerging Companies To Work For"

Nov 06 2007

NASSCOM Announces Top 15 "Exciting Emerging Companies To Work For"

Written by News watch

Tuesday, 06 November 2007

NASSCOM identifies 'Top 15 Exciting Emerging Companies to Work for' in IT-BPO sector in India. Survey looks at HR practices to benchmark the Top 15 Exciting Emerging Companies to work for, in India. A first of its kind of survey analyzing small and medium sized IT-BPO companies as workplaces.

NASSCOM released findings of a survey conducted to identify 'Top 15 Exciting Emerging Companies to Work for' in IT-BPO sector in India. This is a first such survey by NASSCOM, and also the first of its kind across any industry by far, for the emerging companies segment specifically. The survey was conducted in partnership with Grow Talent, a strategic HR consultancy firm. The objective of this survey was to identify the best small and medium sized IT-BPO companies to work for, within the Rs.250 crore and below annual turnover category, through a set of parameters that are particularly relevant to them, therefore recognizing the fact that the dynamic of this segment is quite different from the large companies.

The Exciting Emerging Companies' (EEC) survey threw light on several best practices which at times may seem 'not that necessary' for a small sized company but are vital for the future growth of the company. Using practices ranging across a wide range of innovative parameters like Balanced Score Card approach for Performance Appraisal to designing of Performance Grade Cards, companies are looking at constantly adding to best practices which make them more attractive for employees, often enhancing productivity simultaneously.

Analysis of the top 15 companies reveals certain distinguishing factors* that makes them an exciting emerging company:

Training & Development: This process was a key differentiator between the top 15 and the other companies. While training was provided at all organizations, a sophisticated approach to the process was missing. For example, an effective training needs analysis must be conducted on the identified needs to arrive at a priority list to determine an appropriate training calendar. Internal training, the most cost-effective training delivery mechanism, can lead to manifold losses, if formal trainer identification is not conducted. Training feedback can add valuable insights to improve the program, but the time at which feedback is sought is also crucial.

Career Management: This is not a solution to the challenge of attrition, but an enabler to overcome the challenge. Most of companies featuring in the Top 15 list have formed a career planning and development mechanism, which typically includes capturing employees' aspirations and creating individual career plans. Integration between Career Planning, T&D and Performance Appraisal is mandatory to realize complete benefits of any of the system.

Constant and effective communication is paramount for the success of any organization. Communication may take multiple forms such as written or verbal, but the authenticity and consistency of the information increases the engagement levels in an organization and improves the fairness & equity quotient of the organization.

Documentation, the blueprint of any process, was a key differentiator. The presence of policy documents and other relevant documents in the above companies made them high scores in HR processes segment. Ready access to documents for the employee increases their understanding of the processes and policies.

Climate surveys, benchmarking and recreational activities was another key differentiator. The top 15 companies identified above not only conducted climate surveys but also tracked the results to identify improvement areas and initiated appropriate action; a follow-up on the action undertaken was also done.

* The above list of differentiating factor is an indicative and not exhaustive list. Many companies not featuring in the list also undertake some or all of the above stated activities, but the differentiation lies in the perceived value created by the above stated activities for the employees

A 4-part tailor-made procedure was adopted for the EEC survey ensuring that both the Employees' and the Employers' perspectives were well reflected:

Online Employee Perception Survey- An on-line survey was designed to tap the employees' perception of their respective organizations. The on-line survey captures the employees' take on the Work Environment (WE), Career Development (CD), Job Satisfaction (JS), Reward & Recognition (R&R) and Fairness & Equity (F&E) as observed and practiced in their organization. It reflects an employee's perception on the above parameters on the Climate, Attitude and Satisfaction scale. An Employee Satisfaction Score has been generated for each participating firm.

HR Diagnostic Study- A score for each participating company was generated, following an in-depth exercise of meeting their Human Resource personnel, understanding their HR systems and processes, validating their content, studying documentation, comprehending their vision and listening to their employees.

The Industry Panel run-through- The survey panel comprised of NASSCOM's invitees and industry experts to ensure that no ambiguities were creeping into the system and that there was no experience or expertise bias.

Analysis- The collated data was then calculated and analyzed to arrive at the final list.