Retailers Association of India (RAI) and Great Place To Work® India announced India’s Best Workplaces™ in Retail 2023 on the 23rd of February 2023. This milestone year is the 7th edition of India’s Best Workplaces in Retail. 42 organizations were assessed as a part of this research, and the Top 10 have been identified as India’s Best Workplaces in Retail 2023 and the Top 3 in the E-Commerce category.
As a global authority on workplace culture, Great Place To Work 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 Great Place To Work for assessment, benchmarking, and planning of actions to strengthen their workplace culture.
In its 7th edition this year, Great Place To Work’s study of India’s Best Workplaces in Retail finds that the Best Workplaces have a significant edge over the market when it comes to fairness. The focus on open and transparent communication has been a differentiator for the best workplaces. Leaders at Best Workplaces stand out in focusing on continuously training individuals and making them future-ready.
The best retail workplaces have ensured that they hire the right people — people who are aligned with the company’s culture and evolving business models. The Best Workplaces have earned the trust of their employees by preserving jobs or, at the very least, making layoffs as comfortable as possible. Best Workplaces demonstrated how leaders in these organizations have taken the responsibility for their actions as they lead their organization through an ever-evolving situation.
“The retail industry in India has been growing rapidly in recent years, driven by the country’s expanding middle class and increasing purchasing power. From online shopping to AI-powered personalization, retailers are exploring innovative ways to attract and retain customers in an increasingly competitive landscape. According to a recent report by the Retailers Association of India (RAI), the retail industry in India is expected to reach USD 1.1 trillion by 2026, growing at a compound annual growth rate (CAGR) of 10-11 per cent.
The increasing penetration of the internet, smartphones, and the convenience of online shopping, has made e-commerce a popular choice among Indian consumers. The online retail segment has been a significant contributor to the growth of the retail industry in India, with e-commerce sales expected to reach USD 200 billion by 2026. With the increasing urbanization and changing lifestyles of consumers – food, and grocery retail, which accounts for the largest share of the retail market in India, is also expected to grow significantly in the coming years.
As per its report, Retail is outshining every other industry across all workplace culture aspects. Leaders have been able to uphold employee sentiment for the last four years at 88 per cent. Additionally, the Indian government’s efforts to improve the business environment and simplify regulations have made it easier for retailers to enter and expand in the market. The government has also introduced various initiatives, such as the ‘Make in India’ program and the ‘Digital India’ program to encourage investment and support the growth of the retail industry. Retailers who can effectively meet the evolving needs of Indian consumers will be best positioned for success in the market.
Congratulations to all our winners on achieving this great accomplishment. I have faith that the industry and its leadership will continue to establish international standards for workplace culture. India has a lot to offer to the world,” said Yeshasvini Ramaswamy, Serial Entrepreneur & CEO- Great Place To Work India.
“Retail industry is filled with people,they are the backbone for the entire industry. Companies that strive to create good culture are leading the way in formation of new benchmarks to retain and to progress talent in the industry. We congratulate all the winners that have been recognised and we hope that this will create a whole set of companies wanting to aspire and achieve better people oriented business,” said Kumar Rajagopalan, CEO- Retailers Association of India (RAI)
Great Place To Work India has released a research report highlighting what sets the Best Workplaces apart from the rest. The report and the complete list of India’s Best Workplaces in Retail 2023 can be viewed here.
The organizations that made it to the Top 10 – India’s Best Workplaces in Retail 2023 are (in alphabetical order):
– Barbeque-Nation Hospitality Limited
– Celio Future Fashion Private Ltd.
– Hardcastle Restaurants Pvt. Ltd.
– Infiniti Retail Limited
– Lifestyle International Pvt Ltd
– Marks and Spencer Reliance India Pvt. Ltd.
– Max Hypermarkets India Private Limited
– Reliance Retail Limited
– Shoppers Stop Ltd
– Titan Company Ltd.
The organizations that made it to India’s Best Workplaces in Retail – Category: E-commerce 2023 are (in alphabetical order):
– Bigbasket (Innovative Retail Concepts Private Limited).
– Flipkart Internet Private Limited
– REA India Pte. Ltd. (Housing, PropTiger and Makaan)