Softbank-backed hotel chain OYO has come a long way from just being an aggregator of affordable hotel properties back in 2013 to become the sixth largest hotel chain globally. However, its potential to become one of the global success stories to come out from India was already hinted just around three years after its launch when it was ranked 16th out of 25 top companies in India to attract and retain talent in 2016 as per LinkedIn. Even at 16, 25-year old Ritesh Agarwal’s OYO was ahead of companies like Reliance, Cognizant, Accenture, Cisco in India.
Cut to 2019, OYO has scaled to the 3rd spot (with Flipkart and Amazon ranked first and second respectively) in the esteemed list from number 10 in 2018. This time it is ahead of Alibaba-backed Paytm, Uber, Swiggy, TCS, Zomato, Alphabet, and Reliance in the top 10 list.
“I and OYO’s entire leadership feels great pride in this and we congratulate every OYOpreneur who is the custodian of our amazing company culture. This is a testament of value that OYO is creating for millions of guests and travellers and thousands of asset owners who have contributed equally to our growth,” OYO’s Founder and Group CEO Ritesh Agarwal told Financial Express Online.
LinkedIn compiled the list of 25 top companies to work for in India this year based on the feedback from its 54 million users in India on areas including the interest in the company; engagement with employees, employee retention, job demand etc.
“The opportunities to learn and lead the charge in new-age tech companies on solving complex problems is a big draw for the job-seekers. You are in a position to set the tone for your function, and through trial and error, find the best solution for the dynamic marketplace we are a part of – this diversity of work is enterprising and exciting for an employee,” Adith Charlie, India Managing Editor at LinkedIn told Financial Express Online.
Market expert also echoes the empowering roles given to talent at such organisations. “Companies like Flipkart, OYO are the obvious choice because at a young age you get an opportunity to work on larger strategic projects and these companies are not afraid of experimenting in that. That’s huge learning space for any youngster unlike in large companies that move much slower,” Siddhartha Gupta, CEO, Mercer Mettl told Financial Express Online.
Aditya Ghosh who heads India and South Asia business for world’s sixth largest hotel chain OYO Hotels & Homes echoed the relevance of an enabling work environment to become a natural habitat for maximising employee potential. “Having run large businesses, I know how difficult it is to attract talent. Creating a nurturing work environment that enables our colleagues to realise their true potential is a constant endeavour and priority for me,” Ghosh told Financial Express Online.
OYO had reported over 3X jump in India revenues from Rs 120 crore in FY17 to Rs 416 crore in FY18 while the net loss went slightly up to Rs 360 crore in last fiscal year from Rs 355 crore in the preceding year. It is aiming to become the world’s largest hotel chain by 2023. It currently manages 515,000 rooms in 10 countries.