Outlook Business and Hewitt Associates study finds 25 happy companies in downturn

A study conducted by Outlook Business and Hewitt Associates lists 25 companies that have managed to keep employees smiling even in this severe downturn. The study, ‘Best Employers 2009’, covered 230 companies; about 48,000 employees of these companies participated in an exhaustive online interview. Based on these responses, the 25 Best Employers were zeroed in on.

The latest issue of Outlook Business showcases the winners, and their unique and innovative strategies that have helped them keep their workforce motivated even in these trying times. The top 25 includes companies from sectors as diverse as manufacturing, IT/ITES, banking and hospitality. IT leads all sectors, with five companies, followed by hospitality with three.

On the initiative, M Anand, Editor, Outlook Business, said, “This study was done at a time when companies and HR managers were taken by surprise by a sudden weakening in the economic environment. But rather than wield the axe on employees, many Best Employers are using their workforce as catalysts to slash costs and intelligently squeeze out greater operational efficiencies from the rest of the system. There are many lessons here for HR managers, CEOs and CFOs.”

Commenting on the study, Indranil Roy, President, Outlook Business, said, “Best Employers in a downturn is a very difficult subject to deal with in such bad times. It is great to read an issue where you see so many smiling faces together.”

Vishal Pandit, Market Manager, Hewitt Associates, India, Middle-East and SAARC, noted, “All organisations in the country face similar external factors. Our study reveals that Outlook Business-Hewitt Associates Best Employers have learned that creating and maintaining an environment that is focused on key human capital elements should be a business priority. Their strategy to make minor adjustments without losing sight of the larger goal allows them to sustain their strong position and prosper, or be set to prosper when the economy improves.”

The winners were picked from an intensive three-step process. First, an Employee opinion survey gauged the level of employee engagement and collected information about employee perception of their work environment. Second, the people practices inventory gathered information about philosophies, practices and policies that influence management of people in these companies. And, lastly, a CEO questionnaire mapped out the CEO’s philosophy and approach to managing people.