On this morning’s Business Beat, Jeff discusses Fortune’s recently released 100 Best Companies to Work For, which includes a local Detroit business in the top five!
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Good morning, Paul.
What happens when you survey employees at companies in America that employ a thousand or more to determine whether or not the company they work for is a good place to work for? One of the things that happens is that you begin to learn based on responses, what matters and what doesn’t to employees and what companies can do to ensure a good quality work experience for their team.
And then, you can create an annual ranking of companies so people can incorporate this into their consideration of where they want to work, and other companies can understand the standard of what it means to be a good quality workplace and provide a good quality work experience. And to help us put all of that into perspective, well, every year Fortune magazine publishes its list of a hundred best companies to work for, and this year’s list of the 2020 class is a particular interest in merit. Because of the extra challenging conditions companies faced during 2020 and trying to ensure a positive experience for its teams while in the midst of a global pandemic.
To create the list of the hundred best, over a half a million employees were surveyed on issues including how trustworthy, caring and fair the company is in times of crisis, employees’ physical, emotion and financial health, and the company’s broader community impact.
Particular attention was paid to how employees experiences varied depending on their job role, gender, race, ethnicity, payroll status and other characteristics to ensure the company is creating a great workplace for all.
And this year, well a beloved local company has made us proud in that it landed in the top five on the fortune list. That company, the great Rocket Companies. That’s right. Rocket Companies of Detroit, Michigan comes in at number five.
Just for kicks, Cisco, Salesforce and Hilton finished one, two and three.
Now, why is this relevant? Well, it’s a known fact that a happy workforce makes for more efficiency and productivity and even greater revenue. Investing in your team’s wellbeing and creating an overall positive experience for them is one of the best investments a company can make.
I’m Jeff Sloan, founder, and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.