In its 12th consecutive study in the country, Great Place to Work® has announced the 50 Best Workplaces™ in Sri Lanka for 2024 in July. The list, compiled through the rigorous global methodology, features organizations that excel in fostering a High-Trust, High-Performance Culture™. This year’s study, conducted between April 2023 and March 2024, surveyed over 87,500 employees from more than 180 organizations across 20+ key industries. The study provides as up-to-date benchmark for employee experience and a comprehensive overview of current workplace culture in the country.
Selection Methodology- The methodology behind the selection of the 50 Best Workplaces™ is based on two primary lenses: The Trust Index©, which constitutes 75% of the total organization score, that evaluates employees’ workplace experiences, and the Culture Audit©, contributing the remaining 25%, that assesses the people practices in place to drive a high-trust experience.
List Makers were selected and ranked based on 4 employee cadre size categories: Best 10 in ‘Micro’ (20-100 employees), Best 20 in ‘Small’ (101-500 employees), Best 10 in ‘Medium’ (501-1,000 employees), and best 10 in ‘Large’ (over 1,000 employees).
The study highlights key focus areas that contribute to creating a great workplace.The report reveals that trust remains crucial for sustaining employee engagement. The best workplaces outperform in several key perceptions, including compensation and benefits, leadership effectiveness, and encouraging innovation by all. Notable, the gap in employee perception for compensation and benefits between the best and the rest widened by 6 points this year. Leaders at the best workplaces were rated 16 points higher for walking the talk, and nearly twice as many employees at the best workplaces reported significant opportunities for developing new ways of working compared to other workplaces.
Awards Ceremony and Category Awards – the awards ceremony to be held subsequently, will recognize the 50 Best Workplaces™, and will also feature Category Awards that distinguish organizations excelling in specific areas, such as Excellence in People Initiatives, Special Recognition in movement leadership, Top of Class and Legends that appeared on the list for 5 and 10 years consecutively.
Contribution to Best Workplaces in Asia – The results from Sri Lanka’s Best 50 will also contribute to the Asia’s Best Workplaces list, set to be released on August 2024. This provides an additional platform for Sri Lankan organizations to gain recognition and showcase their exceptional workplace cultures on a larger stage.
As Sri Lanka navigates the complexities of a BANI (Brittle, Anxious, Nonlinear, and Incomprehensible) world, it is crucial for workplaces to become data-driven. The insights from this study offer a roadmap for organizations to maximize their human potential, gain a competitive advantage, and achieve sustainable growth.
Ruwani Alwishewa – Best Workplaces Lists Manager at Great Place to Work® Sri Lanka explained “Our global mission is to help every workplace become a Great Place to Work For All™. By fostering a High-Trust, High-Performance Culture™, organizations can not only drive sustainable business success, but also improve lives, and contribute to enhancing the economy. ‘
