Learning from the best of the best
POSTED ON
January 20, 2012
Yesterday, Fortune released its annual list of the 100 Best Companies to Work For. Since the list was introduced in 1998, it has become the gold standard of workplace awards, plastered across winners’ websites, touted by recruiters and coveted by companies across the country.So, what can the rest of us learn from these top companies? Sure, perks like gourmet food in the cafeteria, state-of-the-art recreational facilities and on-site childcare help, but what most of these companies have in common is a strong, employee-driven culture. And many of the elements of their success don’t cost a thing.
- Listen to your people: The 100 Best have this down pat. CHG Healthcare Services (#9) regularly acts on employee suggestions, like making Martin Luther King Jr.’s birthday a paid holiday and redesigning its employee drug plan. DPR Construction (#13) invites employees at all levels to attend quarterly meetings, where they can see firsthand that their ideas are heard and respected. At law firm Alston & Bird (#24), support staff are invited to participate in tasks forces where they partner with lawyers to discuss firm operations, demonstrating that staff members at all levels can contribute to the company’s success.
- Make leadership transparent and accessible: Google landed the #1 spot on this year’s list, in large part thanks to its culture of empowerment and accountability, particularly among top leaders. Every week, employees at all levels are invited to a “TGIF” all-hands meeting where they can share ideas and question senior leaders, all the way up to CEO Larry Page. Similarly, DreamWorks Animation (#14) CEO Jeffrey Katzenberg sends a daily update email to all employees and personally welcomes new staff.
- Bring your culture to life: It’s not surprising that most (if not all) of the top 100 have a strong culture that engages and involves employees. And these companies really know how to get creative about bringing their cultures to life for employees. Take for example Methodist Hospital (#53), which rewards employees for living up to the company’s “ICARE” values (Integrity, Compassion, Accountability, Respect and Excellence) with a cash bonus or a paid week off. When convenience store chain QuikTrip (#66) opens a new location, it staffs the store with veteran employees to ensure the company’s outgoing, friendly culture carries over.
- Reward employees for commitment and results: All across the 100 Best list, you’ll find companies that reward employees for their performance and commitment, which usually translates to higher productivity and overall business results. When it achieved a huge jump in revenue last year, data storage firm NetApp (#6) paid out huge bonuses to employees through its pay-for-performance program, while Mercedes-Benz USA (#12) gives bonuses to employees based on the number of years they’ve been with the company. Scripps Health (#56) pays employee bonuses based on increases in patient satisfaction.
- Encourage innovation: Successful companies know that giving employees a certain amount of freedom to pursue projects and ideas outside their normal scope of work often results in new solutions for the company AND happier employees. #1 Google encourages its people to devote 20 percent of their work hours to a project within the company but outside their core area, while Intuit (#19) provides employees with four hours of “unstructured time” per week to work on projects of their own.
What lessons is your company taking away from Fortune’s 100 Best? Share your thoughts in the comments section below.