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Striving For The Best

Monday, April 30, 2012
By Mayura Shanbaug

India’s Best Companies for Rewards and Recognition in 2012

Awards and recognitions are the buzzwords on which we all thrive upon since childhood. It is a stamp of approval when we received awards for doing good deeds at home, securing good marks in school or after doing any community service. The feeling of recognition and accomplishment has stayed on with us even now.  The practitioners of the best HR practices have recognized this human characteristic and are using it widely to retain and motivate talent in their companies.

“Companies have realised that increased compensation or monetary incentives are no longer the critical differentiator. Organisations are engaging and retaining their key talent with their innovative and structured Rewards & Recognition programs,” said Sandeep Banerjee, Managing Director & CEO Edenred – India, a company that deals in work - life benefits.

With the aim to recognise and applaud corporate organizations in India for their outstanding rewards and recognition practices, Edenred partnered with the Great Place To Work Institute for 'India’s Best Companies for Rewards and Recognition ' study.

“This study is an attempt to gauge what the best workplaces in this area do differently and to encourage more organizations to improve their rewards and recognition practices,” said Prasenjit Bhattacharya, CEO, Great Place to Work Institute.

The study focused on organizations who want to use the power of appropriate rewards and recognition to create high performing organizations and recognize their efforts and judging them best by awarding them for the first time with ‘India’s Best Companies for Rewards & Recognition 2012’.

Out of the 76 entries belonging to sectors like IT/ITES, BFSI, FMCG, Retail, Pharma, Manufacturing, 10 companies were selected as the best practitioners of this segment.

TPG Software topped the list of India’s Best companies for Rewards and Recognition this year, followed by Intuit Technologies Services and American Express were ranked as the top three winners. In addition to the top three winners, Intel Technology, Qualcomm, Music Broadcast, Reliance Commercial Finance, SAP Labs, JM Financial Services and Aditi Technologies took the honours in the top 10 list of 'India's Best Companies for Rewards and Recognition - 2012'.   

According to Rakesh Arora, VP - HR, TPG Software it is the mindset that makes the difference in getting the best out of the employee or in keeping him motivated. “At TPG we try and connect to the families of employees trying to touch their hearts as they are the one who collectively decide the mindset of the employee,” he said. “We also have an upward delegation of targets for the seniors who try and achieve them and this also motivates the junior employees,” he added.

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