Infosys the only Indian firm in top 100 of TIME World’s Best Companies 2023 list
Infosys’ recognition as the sole Indian company on TIME Magazine‘s World’s Best Companies list for 2023 is a momentous achievement that underscores its global prominence. Securing the 64th position out of just 750 esteemed global companies featured on this list is a testament to Infosys’ exceptional performance across various dimensions.
This accolade signifies that Infosys is not merely a leading player within India but also holds a distinguished position on the international business stage. TIME Magazine’s meticulous selection process ensures that only the most exceptional companies worldwide are included in this exclusive list, making Infosys’ inclusion all the more remarkable.
TIME Magazine’s evaluation criteria encompass diverse aspects, including employee satisfaction, revenue growth, and sustainability (ESG). Infosys’ presence on this list signifies its prowess not only in financial performance but also in fostering a workplace environment where employees thrive, as well as its dedication to sustainable business practices.
By earning this prestigious distinction, Infosys showcases its global impact, reputation, and commitment to excellence, positioning itself as a standout example of a top-performing company in the global business landscape.
Infosys, headquartered in Bengaluru, is a renowned professional services company. It was founded in 1981 by seven engineers and has since grown to become the second-largest Indian IT company in terms of revenue figures as of 2020. The company has a substantial workforce, employing over 3 lakh people worldwide, with a majority of its employees based in India.
The top positions on TIME Magazine’s list of the world’s best companies for 2023 were dominated by major tech giants, with Microsoft, Apple, Alphabet (the parent company of Google), and Meta Platforms (formerly known as Facebook) taking the first four spots. Infosys’ presence on this prestigious list reflects its global impact and recognition as a prominent player in the IT and professional services industry.
TIME Magazine’s methodology for determining the world’s best companies in its 2023 list is based on three crucial dimensions: Employee Satisfaction, Revenue Growth, and Sustainability (ESG).
Employee Satisfaction: TIME conducted extensive surveys of over 1.5 lakh employees in 58 different countries. This dimension seeks to gauge how content and engaged a company’s workforce is globally, reflecting its ability to create a positive work environment and retain talented employees.
Revenue Growth: Evaluating this dimension, TIME Magazine analyzed a company’s financial performance over the past three years. To be considered, firms had to meet certain criteria, including achieving a minimum revenue of $100 million in 2022 and demonstrating positive revenue growth from 2020 to 2022. This aspect delves into the financial health and growth trajectory of companies.
Sustainability (ESG): Sustainability is assessed by considering both environmental and social factors. On the environmental side, this includes evaluating carbon emissions intensity, reduction rate, and the Carbon Disclosure Project (CDP) rating. The social dimension assesses aspects such as the representation of women on the board of directors and the presence of a human rights policy within the company. By analyzing these factors, TIME Magazine aims to recognize companies that demonstrate a strong commitment to sustainability and responsible corporate practices.
Infosys’ inclusion in TIME Magazine’s list of World’s Best Companies for 2023 is not only noteworthy for being the only Indian company in the top 100 but also for its impressive ranking among professional services firms. In this category, Infosys stands out alongside two other major players:
1. Accenture (Rank 4): Accenture is a global professional services company known for its extensive range of services, including consulting, technology, and outsourcing. It is one of the world’s largest and most influential consulting firms, consistently ranking among the top in its industry.
2. Deloitte (Rank 36): Deloitte is a multinational professional services network offering services in audit and assurance, consulting, risk and financial advisory, tax, and related services. It is one of the “Big Four” accounting firms and is globally recognized for its expertise in various fields.
Additionally, Wipro, another prominent Indian professional services company, made its presence felt in TIME Magazine’s list by securing a rank of 174. While not in the top 100, Wipro’s inclusion among the top 200 signifies its significance as a global player in the professional services industry.
These rankings reflect the global reach and impact of Indian professional services firms like Infosys, Accenture, Deloitte, and Wipro. Their recognition on such a prestigious list highlights their contributions to various sectors and industries worldwide, as well as their commitment to excellence in employee satisfaction, revenue growth, and sustainability.
