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Gold Stevie Award Winner 2021, Click to Enter The 2022 StevieĀ® Awards for Great Employers

Name of Organization/Company: ValueLabs, Hyderabad, Andra Pradesh, India

Category: Employer of the Year - Computer Software - More Than 250 Employees

 

Entry Title: ValueLabs

 

ValueLabs is a global technology company specialising in Software Product Engineering, Data Technology, Design and Consulting, powered by our Digital Flywheel™. We have expanded to 31 locations, 6,000 associates, 200 clients worldwide achieving an industry-leading Client Net Promoter Score of 84.

In 1997, we built a free-of-cost, computer-based learning program for school students, and this philanthropic act led to the birth of our company. We’ve applied the same model to software projects ever since, and the original team of three has grown to over 6,000. The unselfish gene that led to the founding of ValueLabs still remains the most important part of our DNA as we bring the same spirit of service to all our clients.

ValueLabs is now a one-stop shop for all things technology and design. We have evolved to become a strategic partner to our clients rather than just a transactional vendor. As a future-focused organisation, we emphasize re-imagining the future of work. Combining our ideas and experience with the intent and ability to take risks on behalf of our customers, we successfully create tangible value for them.

Our founding principle and purpose as a business are summed up in four words: Doing the Right thing. Always.

An Employee Net Promoter Score of 68:
We survey our employees quarterly, measuring their engagement, areas where they need support and thereby improve as a company. The response rate has risen from 28% to 45% with our eNPS going from 20 to 68. With the industry benchmark at 50, our performance in this area has been second to none.

Work from home readiness and Excellent Covid support:
With employee well-being our top priority, we implemented work from home a few weeks in early 2020, even before it was mandated by the government and before the rest of the industry started planning for it. We introduced many initiatives to help our employees and their families.

Biannual appraisals & objective and key results:
Our industry-first 6 monthly appraisal cycle resulted in low attrition and higher engagement. Three of hikes were given during the COVID period. We’ve also modernised our appraisal system by moving from traditional goal setting to OKRs. OKRs ensure that our appraisals are transparent.

A transparent and meritocratic culture:
We enable a transparent and meritocratic culture, listening to our employees via Manager NPS, Workplace by Facebook our CEO’s listening tours.

The CEO 200:
Every year our CEO recognises 200 employees by sending them a personal note to reward their efforts.

Innovation and opportunity:
We support our employees in exploring their technology interests through hands-on project experience, and by giving them the freedom to innovate. This creates a culture of continuous innovation, keeping us and our clients ahead of the curve.

Our most recent Client NPS came in at 84 and eNPS at 68. These are results speak for themselves, given that the IT Services industry average for CNPS is 42 and eNPS is below 50. Our scores are over 4 times the industry standard and continue to steadily rise every quarter.

We announced an industry-first biannual appraisal and pay review system in 2019. When the pandemic hit and companies across all industries around the world were laying people off and at best maintaining status quo, we awarded the highest pay increases in the history of our company. We have given five six-monthly incremental raises to date, three of these cycles during the COVID period.

We implemented work from home a few weeks even before it was mandated by the government and before the rest of the industry started planning for it.

As an IT services company, delivery excellence and innovation are critical for us to stay ahead of competition. Innovation has to be proactive and continuous. Our consulting-led sales approach supported by best practices have helped us win our clients' trust and become their strategic partners. We’ve consistently received recognition from notable international organisations for our innovation and delivery excellence.

The AIconics Award, for excellence in artificial intelligence.
The Stevie® Award (Silver), for innovation and best use of technology.
The TITAN Business Award (Gold), for innovation in customer service.

Our core philosophy represented in our technology stack encourages employees to ideate and implement with freedom, making such achievements possible.

In this nomination, we have highlighted what we do for our employees and our clients. Employee engagement is at an all-time high, and our clients have expressed their gratitude and pleasure in working with us.

- Net Promoter Scores
Client NPS of 84 – a two-point improvement on the previous NPS of 82.
Employee NPS of 68 – an improvement of six points on the previous eNPS of 62. Participation improved from 28% to 45%.

- ValueLabs has led the industry as a work-from-home employer, putting our scheme in place weeks before it was mandated by the government. We put employee well-being first, with no loss of productivity.

What was magical about the COVID initiatives since 2020 is that they have gone far beyond just company initiatives.

- What our CEO recently had to say about biannual appraisals?

3 years ago we started a system of 6 monthly salary increments and this is our 5th cycle that’s done - in the next 3 months we’ll be onto our 6th cycle so 3 years will be complete. April 1 this year was the 3rd increment cycle that we gave in the COVID period. October 2021 is coming up and this April we have hikes to the tune of 20% in India. This October his target is to give hikes in the range of 12-15% and next April 2022 again 20%.

Quote by our CEO - Arjun Rao, ‘I consider ourselves to be a very warm, loving employer.

ValueLabs has led the industry as a work-from-home employer, putting our scheme in place weeks before it was mandated by the government. We put employee well-being first, with no loss of productivity.

What was magical about the COVID initiatives since 2020 is that they have gone far beyond just company initiatives.

Some of our proactive measures include:

1. 24/7 COVID task force:
A robust team was formed to prioritise employee health services and connect them to leads on available oxygen concentrators, hospital beds, teleconsultations and medicine.

2. Well-being:
We spread awareness through our Employee Assistance Program by conducting knowledge-sharing webinars for employees with health experts on COVID-19. These covered facts, myths and safety protocols. We also shipped COVID care packages to our employees and partnered with healthcare providers for free medical consultations, dedicated nurse monitoring, nutrition advice and diagnosis support.

3. Insurance:
In addition to our company’s medical package, we partnered with top insurance providers and extended a voluntary discounted COVID insurance policy to our employees and their families.

4. Free vaccinations:
As soon as the government made vaccines commercially available, we launched a free vaccination drive for all our employees and their immediate families across all locations globally.

5. Financial assistance:
Our financial support to employees goes beyond our medical insurance scheme. We grant instant salary advances to employees facing financial hardship.

6. HR reach:
Our HR team is in constant communication with affected employees and their families, helping to ensure they receive the assistance they need.

Excellent COVID support:

Initiatives included COVID insurance; financial aid and salary advances; free vaccinations for employees and their families; concierge services and a discounted health monitoring package with home collection of samples; and free medical e-consultations.

We have gone out of our way to help employees in these uncertain times by providing financial assistance wherever possible.

What our CEO recently had to say about Covid support?

“There was a case of an employee in one of our projects- unfortunately we lost him due to COVID. His lung transplant would have cost $150,000. He didn’t make it to the lung transplant - his first phase was a procedure that would have cost $50,000 – I don’t even know him, I’ve not seen him - I told the team whatever it takes you have a blank cheque, save the life. In the end we were not successful.

But the point there was a blank cheque, and I had approved a $150,000 for the lung transplant from company funds. So we’re doing that regardless of what happens. Even if somebody leaves, they leave on really good terms and they’re a part of the family forever

So that’s what we’re doing in order to continue to invest in talent. It’s a rare asset and we continue to invest there”

Quote by our CEO - Arjun Rao, ‘I consider ourselves to be a very warm, loving employer.

Webpage Links:
https://www.linkedin.com/posts/valuelabs_worldleadershipcongress-awards-awardsforexcellence-activity-6782566038702723072-Gvqi/
https://www.linkedin.com/posts/valuelabs_aiconics-activity-6744170740012105728-WEeq/
https://www.linkedin.com/posts/valuelabs_2021-stevie-award-winners-activity-6765184966184714240-9uSE/
https://www.linkedin.com/posts/valuelabs_titan-business-awards-activity-6803730778774650880-_c48/
https://www.valuelabs.com/press-release/valuelabs-and-employees-donate-730000-for-corona-relief/
https://www.linkedin.com/posts/valuelabs_covid19-vaccinationdrive-taketheshot-activity-6815564678626852865-IUW0/
https://www.linkedin.com/posts/valuelabs_employee-nps-the-brutally-honest-measure-activity-6689887253449318400-V7wd/
https://www.linkedin.com/feed/update/urn:li:activity:6809007185985630208/?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A(V2%2Curn%3Ali%3Aactivity%3A6809007185985630208)
https://www.linkedin.com/posts/veena-potarla-b94282b_10yearsanniversary-valuelabs-gratitude-activity-6763470417534570496-LvnK/
https://www.analyticsinsight.net/valuelabs-bringing-together-design-and-technology-to-re-imagine-business-models-and-drive-digital-transformation/

Supporting Documents:
Testimonial_from_Beccy_Weeks_CIO_and_CTO_at_Citation.mp4
Employee testimonial- COVID Support
Employee Testimonial – Biannual Appraisal
Employee Testimonial for CEO

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