World Wide Technology Recognized by Great Place To Work® India among India's Best Workplaces Building a Culture of Innovation by All 2023
World Wide Technology has been recognized by Great Place To Work India among - India's Best Workplaces Building a Culture of Innovation by All 2023!
As a global authority on workplace culture, GPTW has been studying employee experience and people practices across organizations for over three decades. Every year, more than 10,000 organizations from over 60 countries partner with GPTW for assessment, benchmarking, and planning of actions to strengthen their workplace culture.
In this year for India, based on a rigorous evaluation methodology, 75 organizations among India's Best Workplaces Building a Culture of Innovation by All 2023 have been recognized. These organizations among other practices particularly excel both on people practices that they have crafted for their employees and proactively acting on the feedback to create a High Trust Culture.
The Best Workplaces have gone above and beyond to create and sustain aspirational organizations. Organizations that succeed in establishing high-trust, high-performance cultures and maximizing human potential by bridging experience gaps will be great places to work for all in the future.
Innovation is an essential aspect of any organization, and its importance in the workplace cannot be overstated. The ability to innovate allows organizations to stay ahead of the competition and adapt to changing market conditions.
In recent years, there has been a growing recognition of the importance of fostering a culture of innovation in the workplace, particularly in the context of Indian companies. Our study report has shown that companies that prioritize innovation tend to outperform their peers in terms of growth, profitability and overall success.
Based on GTPW research, innovation can be influenced by several factors, as indicated by the given pointers. Pride and respect are essential for driving innovation and can result in an 11-12% higher innovation score. Companies that are recognized as the Best Workplaces have a higher rate of innovation, with employees being 18% more innovative, 8% more inspired, and 9% more connected to their organization. The Best Workplaces for Innovation differentiate themselves by offering benefits and fairness, which sets them apart from their competitors by 10-13%. Providing opportunities for innovation can have a positive impact on employee experience, boosting their confidence in their executive team's judgment and realization of their potential, resulting in better business outcomes.
Also, a critical aspect of fostering a culture of innovation is creating an environment that encourages experimentation, risk-taking and collaboration. This involves breaking down traditional hierarchies and encouraging employees at all levels to share their ideas and insights. Several Indian companies have successfully fostered cultures of innovation; these companies have invested in cutting-edge technologies and digital transformation initiatives, while also prioritizing employee training and development.
India's journey to innovation excellence has been remarkable in recent years. The Global Innovation Index (GII) is a leading benchmark for measuring a country's innovation capabilities, and India has made significant progress in this index over the past few years.
In 2018, India was ranked 81st on the GII, but it has since climbed up to the 40th position in 2022. One significant factor that has contributed to India's rise in the GII rankings is the increase in research and development spending, which has grown from 6.45% of GDP in 2018 to 8.68% in 2021. This increase in funding has led to the growth of innovation and startup ecosystems across the country.
India has also made significant progress in the area of intellectual property rights (IPR), with the government implementing various policies and regulations to protect IPR. This has led to a rise in the number of patent applications filed from India and an increase in the number of startups working in the area of innovation and technology.
Additionally, the government has launched various programs to promote innovation and entrepreneurship, such as Startup India, which provides financial support and mentorship to startups. The government has also launched the Atal Innovation Mission, which aims to foster innovation and entrepreneurship among students.
"India's journey to innovation and excellence may have found its roots, and its progress in recent years is a testament to the country's potential in becoming a leading global innovation hub." Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work India.
In India, the Institute partners with more than 1100+ organizations annually, across over 22 industries, to help them build High-Trust, High-Performance Cultures™ designed to deliver sustained business results. Hundreds of leading CXOs from India Inc. are part of the great place community that is committed to the vision of making India a Great Place To Work For All™.
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About World Wide Technology
Founded in 1990, World Wide Technology (WWT), a global technology solutions provider with $17 billion in annual revenue, combines the power of strategy, execution and partnership to accelerate digital transformational outcomes for large public and private organizations around the world. Through its Advanced Technology Center, a collaborative ecosystem of the world's most advanced hardware and software solutions, WWT helps customers and partners conceptualize, test and validate innovative technology solutions for the best business outcomes and then deploys them at scale through its global warehousing, distribution and integration capabilities.
With nearly 9,000 employees and more than 55 locations around the world, WWT's culture, built on a set of core values and established leadership philosophies, has been recognized 11 years in a row by Fortune and Great Place to Work® for its unique blend of determination, innovation and leadership focus on diversity and inclusion. With this culture at its foundation, WWT bridges the gap between business and technology to make a new world happen for its customers, partners and communities.