India’s leading retail store chain Shoppers Stop has been recognised with an award for its employee friendly policies and practices. The company, which began its journey in 1991 with its first store in Andheri, Mumbai, has over 250+ stores in 52 cities, across various formats such as department stores focussed on families, fashion and beauty and home improvement. The company provides direct and indirect employment to over 10,000 people across its chain.
Mr. Venu Nair, MD, CEO, Shoppers Stop said, “Being recognized as a Great Place To Work is not only a testament to our commitment towards fostering a workplace environment that values diversity, equality, and the overall well-being of our employees, but it is also a reflection of our unwavering dedication to excellence. We deeply value diverse views and treat all individuals with the utmost dignity and compassion; hence take immense pride in our initiatives aimed at promoting our values that include innovation, growth, respect, integrity, and inclusivity. As a progressive organization, we started menstrual leaves for women almost a year ago as these are a tangible representation of our dedication to creating an inclusive workplace.”
Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place to Work® India said, “In a fast-changing and competitive landscape, it takes more than just traditional business strategies to succeed. It requires a focus on creating workplace cultures that empowers individuals to reach their full potential. At Great Place To Work, we believe in the For All Methodology, where leaders embrace diversity and foster a sense of belonging, irrespective of one’s demography. We take immense pride in being the gold standard for evaluating workplace cultures in India, and our position to hear employee voices from 150 countries gives us a unique opportunity to witness global and India Inc trends.”
“Pay fairly, Treat fairly, and provide a better work environment,” the overall experience improves by a factor of five or more. Ensuring equal opportunities for all demographics not only results in 8% higher productivity but also drives a 10% increase in innovation. Embracing For All Leadership has, on average, led to 63% more employees finding meaning in their jobs, making a difference, and creating a better future.”
“Your participation in this study has showcased your commitment to creating exceptional workplace cultures. You have demonstrated that you value your employees’ well-being, growth, and success. Your dedication to fostering inclusivity and empowering individuals has made your organization a true leader in the industry.”
“Congratulations once again on this remarkable achievement,” she added.
All organizations that nominate themselves for India’s Best Companies To Work For list undergo an assessment. This assessment aims at studying the ways in which organizations fully channelise the people power and create inclusive workplaces through effective leadership, meaningful values and a culture where all employees experience high levels of trust, such that each employee is able to bring their best self to work.
As part of this assessment, all organizations are studied through two lenses. The first lens measures the quality of employee experience through our globally validated survey instrument known as Trust Index™ survey and carries 75% weightage. The survey helps is seeking anonymous feedback from employees and aims to measure the core of what creates great workplaces — key behaviours that drive trust in management, connection with colleagues, and loyalty to the company.
The For All™ model not only looks at the aggregate employee experience of an organization but also measures the differences in survey responses across demographic groups and roles within each organization to assess both the quality and consistency of the employee experience.
The second lens is called Culture Audit™, it is a proprietary tool of the Institute that evaluates the strength of the leadership as supported by meaningful values & philosophy and quality of the practices & programs that shape employee experience, build consistent levels of trust and enable each individual to use their potential to better organizational performance. This carries 25% weightage. This tool comprises of six essay questions that provide greater insight into how, and why the organization is great for all people.
The Institute undertakes a robust validation process on the data gathered through the assessment process. The cumulative score of Trust Index and Culture Audit determines an organization’s position in the ranking scoreboard and helps in identifying India’s 100 Best Companies To Work For. No individual or jury has a say in who makes it to the Top 100 list—only employee feedback and quality of Culture Audit determine if an organization is a great workplace.
Shoppers Stop Ltd. is India’s premier retailer of fashion and beauty brands through its 98 department stores. The company operates 8 premium home concept stores – Home Stop, 142 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty and 25 Airport doors, occupying an area of 3.9 Mn sq ft.
For FY 2022-23, the company reported total revenues of Rs. 4,054 Cr and a PAT of Rs. 162.11 Cr, its highest ever annual revenues so far.
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