The New Age Of Workplace Culture

Businesses will need to cultivate a culture premium to attract, recruit and retain the best talent

- Akshat Shah

THE PARADIGM OF workplace culture and what it takes to be a great place to work is changing. The last two years have been nothing short of this demonstration. The outbreak of the pandemic, followed by the Great Resignation, has not been very easy. Our data shows that mid-size companies will want to up their headcount by 35 per cent on average over the next 12 months. As a result, it will be even more important for businesses to cultivate a culture differentiator and a culture premium to attract, recruit and retain the best talent in the market.

Over the last five years, we have seen a steady increase in the participation of mid-sized organisations (defined by Great Place to Work® Institute as those that have 100 to 500 employees on their payroll) coupled with an increase in engagement scores leading us to publish the Top 75 Great Mid-Size Workplaces as opposed to a Top 50 until last year. With the effect of Covid setting in, organisations saw a surge in their engagement scores on account of proactive steps taken by them to ensure the wellbeing of employees coupled with an increased sense of gratitude from employees.

Ninety-three per cent of employees at the best workplaces believe that taking everything into account, their organisation is a great place to work. Moreover, the best workplaces outperform their industry peers across eight major industries.