February 2005
The Fortune-ate Few:
Fortune Magazine’s 2005 List of the
100 Best Companies to Work For
By
President of Workforce Associates
and author of
NetWork: Maximizing Your Career Resources on the Internet
Available online and in print from Author House
The Fortune 100 Best Companies to Work For 2005 list was just released in January. It is a must-read publication for all job hunters and HR professionals to see how the most progressive companies handle their human capital. In fact, 22 of the 100 have been on this coveted list since 1998, when Fortune introduced it. They include:1) Financial companies A. G. Edwards, First Horizon National, MBNA, Synovus, and Goldman Sachs;
2) Hoteliers Four Seasons Hotels and Marriott International;
3) Software giants Cisco, SAS Institute, and Microsoft;
4) Food operations businesses Whole Foods Market, Publix Super Markets, and Wegmans Food Market;
5) Construction business TD Industries;
6) Marketing firm Valassis
7) Retailers Nordstrom and Recreational Equipment (REI)
8) Manufacturers American Cast Iron Pipe, J.M. Smucker, Timberland, and W.L. Gore
9) Transportation guru FedEx
According to The Great Place to Work Institute that evaluates applications from hundreds of companies annually, the extra news from this year’s crop of winners is that America's top workplaces are hiring again. The 100 companies on this year's list added 22,590 employees - that's an about face from last year when they sliced nearly 15,000 from their payrolls. And three-quarters of the companies on this year’s Fortune list held steady with their payments for health insurance. In fact, 13 decreased the amount of the premium paid by employees. More impressively, 20 others continue to offer 100% coverage of health insurance premiums.
One trend that's increasing among the 100 Best is the active sharing of information throughout the ranks and increased accessibility of leaders. For example, Genentech's Web site allows employees to pop questions to the seven top executives. Cisco CEO John Chambers meets with new employees within four months of their hiring. Goldman Sachs has a new online photo directory showing the faces of colleagues around the world. On opening day, nearly half the firm accessed the site. At Starbucks, Exec VP Dave Pace runs a monthly event called "Dave's Diner," hosting a lunch for up to a dozen employees — and they get more than lattes.
Let’s take a look at several of the newcomers on this Fortune list from the perspective of a job hunter. How sophisticated and simple are the career sections on their company Web sites? How well do they explain their missions and corporate cultures to a prospective employee? What do they do that’s special to keep their best employees? Here’s my impression of the three newcomers:
IKEARoche DiagnosticsRanked 62nd among the top 100 and 22nd among mid-sized companies, the Swedish employer takes pride in creating a workplace that mirrors its corporate vision for its customers — "to create a better everyday life for the many people."
"We’re delighted to be among Fortune's ‘100 Best Companies to Work For.’ At IKEA, we live by the philosophy that when coworkers have the support and flexibility to make their personal lives a success, they thrive in the workplace, too," said Pernille Spiers-Lopez, president, IKEA North America. When people work in an environment in which they are supported and encouraged by their coworkers, they are more passionate and creative in their daily responsibilities, enabling them to perform at their highest potential. This approach has had a significant impact on our coworker turnover rate, professional development and long-term retention."
As part of its strong commitment to work/life balance, IKEA offers family-friendly initiatives and diverse workplace benefits including full medical/dental insurance to coworkers working 20 hours or more per week with eligibility for domestic partners and children. In addition, coworkers with less than 20 hours a week are offered full access to full benefits. Other benefits include: paid maternity/paternity leave and paid time off for child adoption; tuition assistance; generous 401(k) matching; flexible work arrangements (job share, telecommuting and condensed work weeks); extensive professional development, training and mentoring programs; lactation rooms for nursing mothers; and discounts for weight loss and smoking cessation services.The organization does not subscribe to job titles and puts career opportunity into the hands of the individual, encouraging coworkers to take international assignments, with employment opportunities and tuition allowances for spouses. As a result of these benefits, the company has seen a continuous decline in its sales staff turnover, which was 36% in 2003, down from 56% in 2002 and 76% in 2000.
From a job hunter’s perspective, IKEA’s career section is as clean and efficient as its product lines. With a few keystrokes, you’ll find out a lot about this progressive company. You may be surprised to learn that IKEA is not only looking for retail sales folks, but has a big demand for those with manufacturing, logistics, quality control, and IT backgrounds. You can apply online easily, use a search agent to keep track of new openings, and learn more about the company’s culture and global operations.Emmis Broadcasting"Our people are the heart of our business," said Patti Ayars, Vice President of Human Resources and Corporate Communications, Roche Diagnostics. "Roche is proud that we have created an environment where everyone can make a unique and valued contribution, continually develop their capabilities and be appreciated and rewarded for their individual and collective contributions."
"From the moment that I first walked down the halls of Roche Diagnostics and experienced the enthusiasm, pride and sense of purpose here, I knew this was a special place," said Brian Hill, principal scientist, Roche Diagnostics, Diabetes Care. "The atmosphere is warm, but we also know our work supports research, diagnosis and disease management across the globe - our products help millions of people every day. We learn, share and innovate together - it's an extraordinary company and working environment."
"As a 20-year employee with Roche and a working mother, maintaining a balance between my work and home life has been very important," noted Marie McMahon-Takesh, manager, Dining Services and Employee Sales Operations at Roche's pharmaceuticals division in New Jersey. "I feel very fortunate that Roche offers an array of benefits, which enabled me to progress from a work-study student to my current position as manager and to utilize several programs such as tuition reimbursement, job-sharing and on-site child care."
Roche’s career section is similar to IKEA’s in that it’s complete and simple. One "wow" that I found was a 10-question self-test that helps you decide your own working philosophy and how it may match — or mismatch - Roche’s. Take it regardless of your interest in Roche. There’s a lot of food for thought about your own personality plus great sentences to paraphrase in your next interview!
Summary: Every year Fortune’s list of the 100 best gives exciting information to job hunters about the superior working environments of these selected companies. The list is also a bellwether of best practices that other progressive companies will be following closely to become employers of choice. Be sure to study this special issue of Fortune to find out if the company you’re considering is on the list. If so, you’re in great company. If not, ask at the interview if they’d consider applying. Their answer to your question will be revealing about their attitude toward this list and their interest in becoming considered one of the very least.A party broke out in the lobby of Emmis Communications Corp. recently with 250 employees drinking champagne and Chief Executive Jeff Smulyan standing atop a sofa praising his team. Emmis officials had just learned the Downtown Indianapolis media company is among America's 100 best companies to work for -- No. 74, to be exact -- marking its first time on Fortune magazine's prestigious list. "This is one of those days where I get a little sentimental," Smulyan said later during an interview. "It's a company where everybody respects the ideas of everybody else. There's a lot of give and take."
Rankings are based on demographic makeup of the workplace; pay and benefits for employees; and job growth and revenues for the companies.
Employees lauded Smulyan's down-to-earth communication style as one reason Emmis is a good place to work. "He's easily the most accessible CEO I could ever imagine," said Kent Sterling, assistant operations manager for WIBC-AM (1070) and Network Indiana, who has worked for Emmis since 1994. "He's a guy where you can just go into the office and talk to him -- and he enjoys it."
From a job hunter’s perspective, Emmis has several hundred opportunities to join this creative team. The career section is filled with information about the company, though you have to go to the vendor side of the Web site to find out about the company’s culture that includes 11 sacred commandments. WetFeet software guides the online resume submission process. Although headquartered in Indianapolis, Emmis also has a strong presence in New York, Los Angeles and Chicago in managing radio and TV stations.
All the best for the Chinese New Year on February 9, Lincoln’s birthday on February 12, Valentine’s Day on February 14, and Washington’s birthday on February 22.
Jane M. Lommel, Ph.D.
jlommel@WorkforceAssociates.com
Copyright © 1995-2007 Gary Johnson Communications. All rights reserved. BraveNewWorkWorld, NewWork, NewWork News, Careers in the NewWork World, WITNE, and WITNE: Women in the New Economy are trademarks of Gary Johnson Communications.