Dive Brief:
- The hotel chain Hilton topped Fortune's newly released list of "100 Best Companies to Work For" for the second year in a row. Rounding out the top five companies were Ultimate Software, Wegmans Food Markets, Cisco and Workday.
- To compile the list, Fortune, in partnership with Great Place to Work, said it asked the companies' employees to respond to 60 questions on what makes an organization a great work environment. The evaluation is weighted towards employees' feelings of trust and their ability to reach their full potential. To be considered, the companies, all with at least 1,000 employees, had to submit an application documenting more than 200 datapoints describing their HR programs and practices, Fortune said.
- As part of the list, Fortune noted the percentage of women and minorities working at each company, the number of recent college graduates hired, and the number of job openings as of February 2020, among other statistics.
Dive Insight:
Four of the five best-rated companies had representation of women or minorities above 40% — and while no data was provided on diversity in leadership, it goes to show the importance of a solid diversity strategy. In fact, diversity was tied to performance in The Wall Street Journal's analysis of S&P 500 companies. The highest performers were the most diverse, with an average operating profit margin of 12%, compared with the least diverse companies, whose average profit margin was 8%.
Hilton landed at the top of the list last year as well, and was recognized for its strong diversity and inclusion, providing a free GED-completion program and its effort to improve employee-only areas. This year, for example, Hilton announced in January a partnership with the non-profit organization Jobs for America's Graduates (JAG) to introduce young adults to careers in the hospitality industry.
Customers — and company bottom lines — may stand to benefit from happier workers, because happier workers are more likely to provide good customer service. This theory was backed by a Glassdoor study released in August; the study uncovered a strong tie between satisfed customers and satisfied workers. The study also suggested that employers' investment in the employee experience and overall engagement can have positive bottom-line results.
