Databricks
Databricks
We spend too much of our lives working to waste our time at a toxic job. I founded the Best Practice Institute, a research organization, to find a better way forward. Drawing on our research, BPI created the America’s Top Most Loved Workplaces®, an annual research project in partnership with Newsweek that dives into how employees really feel about the places where they work. This year, more than 1,200 companies were accepted to apply to be Most Loved Workplace® certified, but only 500 were certified, and 200 made it to America’s Top Most Loved Workplaces® list in this special Newsweek issue.
The project showed that when employees love their workplace, it can have major benefits for their companies. These organizations vary widely, ranging in size from less than 50 employees to over 100,000, and serve their customers with anything from delicious breakfasts to cloud-based platforms. But despite their differences, the qualifying companies all found ways to make their employees feel love for their workplace. The companies saw a 94 percent increase in employee performance, and four times the retention of other companies. They share a common understanding that seeing their people succeed is one of their most important goals.
When we took a closer look at the top-performing 200 companies this year, we found a clear trend: The factor that most sets the top-tier companies apart from lower-scoring companies is employees’ sense of the opportunities for individual success. In particular, employees at top-ranking companies feel much better about their prospects for career advancement. This is by design at many top-ranked organizations, where leaders described how development is built into the companies’ way of doing business.
For example, at Sourcebooks, an independent book publisher ranked number two, the company has at least one opportunity for every employee each month that’s relevant to their personal and professional development, including company-wide training, job shadowing and peer mentorship, and options to meet individuals’ particular needs and career goals, such as through external training. The company also says they’ve set a goal to invest in team members and strive to fill leadership positions internally.
BDO USA
BDO USA
Another major theme that emerged among employees at many of the top companies was a focus on working together. In their survey responses, employees praised companies with supportive and inclusive cultures that foster a sense of mission toward shared goals, and where they have a good relationship with colleagues and feel a sense of teamwork.
The company that ranked number one, First Watch Restaurant Group, which runs a chain of restaurants that specialize in serving breakfast, brunch and lunch, exemplifies what a company that’s focused on meeting employee needs can look like. As its CPO Laura Sorensen told BPI in an interview, “We know, for us, that our success all depends on our people. And so, enriching the employee experience is something we’ve got to be focused on.”
That includes looking out for employees’ needs both inside and outside the workplace. For example, First Watch offers access to affordable “backup” caregiving options that can fill in when families lose access to their regular caregiver for a child or infirm person. The company also works hard to make sure top-performing employees are recognized for their efforts, including honoring employees who had a positive impact on their co-workers with a “Legacy Pin.” Additionally, First Watch prioritizes maintaining communication throughout the organizations with what it calls a “continuous feedback loop” to help employees feel heard and keep improving the working environment, including sessions run by its CEO.
Our analysis also found that employees who said they loved their CEO were more likely to love their company more overall. At the top companies, the CEOs are often deeply involved in building the company culture. For instance, at information technology company Supercharge—which ranked six overall—the CEO gets a coffee with every new employee. The company also offers various opportunities to build community and give feedback, including hiring external interviewers to get feedback from employees each year and offering frequent opportunities for employees to gather socially.
While some business leaders have voiced concerns that remote working can isolate employees and erode company culture, top-ranked companies show that remote or spread-apart workplaces can also be cohesive. For instance, Overjet, the dental-AI company ranked ninth, is entirely remote, but works to build community both with in-person get-togethers, such as physical offsite meetings, as well as through online geohubs, which connect employees to others who live nearby. The company says that they’ve found that such opportunities start as culture building, but often lead to collaboration as workers start sharing ideas and hacking together.
Ultimately, it isn’t a mystery why employees loved the top-ranking companies. They all demonstrate that when businesses set up individual employees to succeed, the companies will also thrive.
▸ Louis Carter is the CEO and founder of Best Practice Institute and Most Loved Workplaces®
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