Infosys has made it to the TIME Magazine’s list of the World’s Best Companies of this year as the only Indian firm to do so.
It ranked 64th out of 750 global companies.
The first four spots were all unsurprisingly occupied by big tech – Microsoft, Apple, Alphabet and Meta Platforms.
Accenture, Pfizer, American Express, Electricite de France, BMW Group, Dell Technologies, LVMH Moet Hennessy – Louis Vuitton, Delta Air Lines, Enel, Starbucks Corp, Volkswagen Group, General Motors, Elevance Health, Bosch, Ford, Johnson & Johnson round out the top 20.
Back in India, Infosys is the second-largest IT company going by 2020 revenue figures.
“We are among the top 3 global professional services firm and the only brand from India in the Top 100 global rankings,” the company wrote on X (formerly Twitter).
It employees over 3 lakh people across the world, with the majority being based in India.
How TIME ranked companies
TIME used three metrics to determine the top-performing companies in the world: Employee Satisfaction, Revenue Growth, and Sustainability (ESG).
Employee Satisfaction was evaluated using survey data from employees worldwide. More than 1.5 lakh employees across 58 countries were surveyed.
Revenue Growth looked at company data for the last three years. Companies had to generate revenue of at least $100 million in 2022 and demonstrate positive growth from 2020 to 2022 to be considered.
Sustainability took into account environmental and social factors.
Other factors taken into consideration
“For the environmental evaluation, this included the carbon emissions intensity and reduction rate, as well as the Carbon Disclosure Project (CDP) rating.
The social dimension assessed the share of women on the board of directors and the existence of a human rights policy,” TIME Magazine shared.
Why big tech always dominates such lists
Commenting on why tech companies dominated the list, “Tech companies performed well… in part because their carbon emissions are so much lower than other types of companies with significant physical footprints like airlines, hotels, or big manufacturers…,” TIME said on its website.
It added, “But, they also ranked well because their employees are largely happy—the top four got the highest marks in employee rankings—and because they’ve posted such big financial gains over the last three years while still committing to social governance principles like lowering their emissions and appointing more women to their boards.”
Other Indian companies in the list
Apart from holding the highly coveted rank of being the only Indian company in the top 100, it was also one of the only top 3 professional services companies on the list – the other two being Accenture (rank 4) and Deloitte (rank 36).
Another Indian professional services company was featured among the top 200 on the World’s Best Companies 2023 list – Wipro at 174.
Other Indian companies (not professional services) that made the list are Mahindra Group at 210th, Reliance Industries Ltd at 248th, HCL Technologies Ltd at 262nd, HDFC Bank at 418th, WNS Global Services at 596th and ITC Ltd was ranked 672.