The
“100 Best Companies to Work For” list is administered by an organization called
the Great Place to Work Institute, which accordingly calls itself the
“global authority on workplace culture.”
We thought that sounded a little arrogant until we looked into the steps
you have to take and the investment in time and money you have to make to be on
the list.
To
be considered, companies have to go through a strenuous application process
which includes an extensive heavily-weighted employee engagement survey, and as
many as 15 open-ended essay questions on topics like trust, values, and
communications. From what we could determine the questions we very
comprehensive, compelling and complex.
The Best Companies Had These Attributes.
Just about all every company has
a mission statement, but in the “Best” ones the mission is not just a
statement—it’s—well, a mission. These organizations know just
what they do better than anyone else, and employees understand exactly where
they fit in this picture. They know not only what they are doing, but why.
Values are taken seriously.
The
“Best” take corporate values seriously and the employees are rewarded for
living the values. Leaders at every level are held accountable for modeling
them. In some cases, employees even have a hand in developing or refining them.
Communication is king.
At
100 Best Companies, communication is multi-faceted and multi-directional. It’s
happening all the time, both formally and informally. Leaders
talk—candidly—about what’s going on. Perhaps more important, leaders listen.
And employees from the bottom-most position on up know if they have an idea, it
will be taken seriously.
Compensation is fair and inclusive.
At
100 Best Companies, having competitive compensation is just a starting point.
Pay policies are transparent and even-handed. They are regularly analyzed and
adjusted to ensure equity across gender, race, and more. Profit-sharing is
common and applies to employees at every level, regardless of their role.
Benefits policies are similarly not stratified
but any policy differences are not based on role or pay
structure (i.e., hourly vs. salaried).
“Thanks” is not a
four-letter word.
The
best organizations recognize employees for their hard work, cultivating both
formal and informal cultures of recognition. There are awards ceremonies, trophies,
and prizes. Rewards are often thoughtful and creative, like a day off at the
end of busy season, or ice cream for all when that big account is clinched.
Managers are expected to thank employees early and often, and teams are
encouraged (and often funded) to celebrate their successes. Perhaps most
importantly, when the organization has a win, everyone celebrates it.
Careers matter.
“Training
and development” is not just a department it’s a way of life. Every employee
can see clear options for advancement and clear paths for getting there;
development planning is personalized, and a decent amount of resources go into
supporting it
So do personal lives.
100
Best Companies understand the work-life balance. Employees have the flexibility
to do their work where and when they see fit, without rebuke. Workloads are
reasonable, and long hours and weekend work are done by choice, rather than the
rule. Employees are given the paid time they need to grow and care for their
families. Other supports are in place as well: back-up dependent care programs,
concierge services, lactation support, adoption/surrogacy reimbursement and so
on.
Cost and Benefit
Research
has shown that not every 100 Best company models every single one of these
traits. But many of them get surprisingly close. And most of these companies
are highly ranked in their industry. However we have not found any empirical
research to show the correlation of financial performance to making the
list. When considering applying to be
the “Best” you should consider putting together a good cost benefit analysis.
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