Last week, Fortune released its 18th annual “100 Best Companies to Work For” listing, in partnership with Great Place to Work®.
Feedback from employees and companies themselves determines ranking. Through the Trust Index© Employee Survey, accounting for two-thirds, employees rate their organization on job satisfaction, camaraderie among colleagues, and management’s credibility. In the Culture Audit©, companies self-report on subjects such as compensation, benefits, and recognition programs.
What does it take to be the Best? It’s about putting people first.
This goes beyond offering a competitive benefits package. It’s about creating a company culture that cultivates trust, respect, and an overall sense of value among all members of your organization.
It’s when a supervisor spends time getting to know her colleague and his passions away from the desk. While chatting over lunch, she learns of his involvement with a local charity. Soon, your company supports his contributions — by matching a donation or providing extra PTO so he can spend time giving back.
After a charitable day away, he returns to work with a renewed sense of purpose. He’s made a difference in the community. You’ve made a difference in his life.
Showing your people you genuinely care about them doesn’t have to cost much more than your time and some thought. It can be as simple as an employee-recognition program, with meaningful reminders that they’re doing a great job.
New research finds 43% of Millennials want feedback every week — but they’re not the only ones who appreciate acknowledgment. And while we’re on the subject, never discount the value of a hand-written “Thank You” note, especially in the Digital Age. Kudos keep employees happy, engaged, and motivated.
There’s a simple theme at work here: Give back to your employees by all means and they’ll reciprocate in myriad ways. Take care of your people, and they’ll take care of you — and your customers.
And if you’re still worried about the financials of investing in your workforce, don’t be. Putting people first pays off.
According to Great Place to Work, publicly traded Best Companies perform almost twice as well as major stock indices and provide nearly three times the market return. Moreover, because their employees are more engaged and less likely to leave, Best Companies also save substantial money, given the high costs associated with constant turnover.
The benefits of being on Fortune‘s Best Companies list are as plentiful as the ways.
What are you doing to be the Best?
Ultimate Software is proud and honored to be ranked in the top 25 on Fortune‘s “100 Best Companies to Work For” list four years in a row.