TIME Magazine has released a list of the world’s 750 best companies in terms of revenue growth, sustainability and employee satisfaction. Eight Indian companies have found a place on the list, with only one making it to the top 100 – Infosys at rank 64. The first four ranks were all dominated by USA’s Big Tech - Microsoft took the first spot, followed by Apple, Alphabet and Meta.
TIME looked at three dimensions to identify the top-performing companies in the world: Employee Satisfaction, Revenue Growth, and Sustainability (ESG).
The first dimension, Employee Satisfaction, was evaluated using survey data from employees worldwide. More than 1.5 lakh employees across 58 countries were surveyed. The second dimension, Revenue Growth, looked at company data for the last three years. To be considered for evaluation, companies had to generate a revenue of at least $100 million in 2022 and demonstrate positive growth from 2020 to 2022. The last dimension, Sustainability, took both environmental and social factors into account.
This data was analysed to assign scores out of a maximum of 100. The company that scored the highest was ranked first – Microsoft with an overall score of 96.46 out of 100. Here is a look at the Indian companies that made it to TIME World’s Best Companies 2023 list.
ITC Ltd – Rank 672
ITC Ltd is an Indian conglomerate headquartered in Kolkata, West Bengal. It has a presence in hospitality, consumer goods, software, packaging, agribusiness and more. ITC attained an employee satisfaction rank of 645 out of 750 companies. Its sustainability rank was 642.
Overall, ITC Ltd scored 77.23 to achieve an overall rank of 672 on TIME’s list of World’s Best Companies.
WNS Global Services – Rank 596
WNS Global Services is a global business process management company headquartered in Mumbai, with 66 delivery centres worldwide. The company demonstrated “moderate” growth from 2020 to 2022, and an employee satisfaction rank of 335.
It achieved an overall rank of 596 with a score of 78.91 out of 100.
HDFC Bank – Rank 418
HDFC Bank is India’s largest private sector bank headquartered in Mumbai. It ranked 489 in terms of employee satisfaction and 468 in terms of sustainability. Between 2020 and 2022, the bank demonstrated “high” revenue growth.
HDFC ranked 418 out of 750 companies, with an overall score of 81.99.
HCL Technologies – Rank 262
Professional services firm HCL Technologies obtained a rank of 530 in terms of employee satisfaction. In terms of sustainability, the company scored an impressive rank of 97. “Our philosophy has always been about incorporating the right environmental, social and governance (ESG) practices to ensure a sustainable present and future,” it writes on its website.
HCL Technologies obtained a rank of 262 with an overall score of 84.22
Reliance Industries – 248
Reliance Industries demonstrated “very high” revenue growth and an impressive employee satisfaction rank of 92 to take the 248th overall rank in TIME Magazine’s list of the world’s best companies. Its sustainability rank was 695 out of 750. In terms of employee satisfaction, Reliance Industries ranked higher than any other Indian company on the list and the only one to achieve a rank in double digits.
Overall, the conglomerate scored 84.39 and ranked 248.
Mahindra Group – Rank 210
Mahindra Group also demonstrated “very high” revenue growth and an employee satisfaction score of 391. In terms of sustainability it ranked 306. The Group has a diverse presence in areas like automotive, farm equipment, defence, energy etc.
Mahindra Group obtained an overall score of 85.13 to achieve rank 210.
Wipro – Rank 174
Professional services firm Wipro is headquartered in Bengaluru. It is counted among the leading Big Tech companies of India. Wipro ranked 240 on employee satisfaction and 285 on sustainability.
With an overall score of 85.67, it achieved rank 174.
Infosys – Rank 64
The only Indian company to make it to the top 100 of TIME Magazine’s list of World’s Best Companies 2023 was Wipro with an employee satisfaction rank of 103 and a sustainability rank of 135, coupled with “high” revenue growth.
Infosys scored 88.38 to achieve an overall rank of 64.
(Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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