SME Editorial
In 2023, burnout risk remained a concern, affecting 27 per cent of employees in large Indian companies, which is three per cent higher compared to their mid-sized counterparts, a new report said on Thursday. According to Great Place To Work’s report on IT & IT-BPM, female senior managers in particular experienced a five per cent higher burnout rate than male counterparts.
However, large organisations demonstrated a one per cent improvement in employee experience, while mid-size entities maintained a commendable 85 per cent score, surpassing their larger counterparts, the report noted.
“This year we see that the industry has experienced subtle shifts in employee perceptions as compared to the last year. While the overall employee experience saw a dip, dimensions like Pride and Fairness emerged as the highest and lowest in employee sentiment, respectively,” said Yeshasvini Ramaswamy, CEO, Great Place To Work India.
“The reduction in Camaraderie (-1 per cent) and a diminished sense of Pride (-1 per cent) among employees has shaped the overall employee experience,” she added.
The report highlighted that IT companies have been investing an average of 1.97 crore annually in training and development, underscoring the significance placed on nurturing employee growth.
In addressing the current challenges, Workplace Ikigai emerges as a holistic solution that empowers individuals to align their personal passions, cultivate meaningful relationships, embody exceptional leadership, and create an enduring impact.
About 83 per cent of Best Workplaces invest mindfully in their employees’ growth. Leadership excellence, despite being the lowest-scoring lever in Workplace Ikigai, showed an upward trend, emphasising the need for more accountability and authenticity at leadership levels, the report said.
Workplace Ikigai not only fosters employee well-being but also boosts productivity, retention rates, and innovation. Notably, in 2023, a sizable 77 per cent of IT companies monitor employee well-being, with 55 per cent employing multiple methods.
The report further mentioned that the convergence of IT workplaces and personal fulfilment is key to achieving a remarkable 1.7X higher retention rate.
