NFIB

What Your Business Can Learn From the "Best"
03/ 24/ 2004

by Jeffrey Moses

Dozens of magazines and organizations compile annual lists of the best companies to work for. Some of the listmakers include Fortune, the New York Times, Barron's, numerous premier consulting companies, an array of trade organizations and several prominent Web sites.

By examining the criteria used to determine which companies are, indeed, among the "best" to work for, a small-business owner can analyze the best of the best to see what has made them successful. By imitating traits that are common to many, owners can improve their own company culture and, perhaps, their own profitability.

Becoming known as a good company to work for can help attract and retain quality employees, optimize morale and dedication of employees, improve profitability, enhance overall company value for shareholders and help maintain long-term growth.

Common criteria for the recognized best companies include:

1. Management listens to and acts upon employee suggestions.

2. Promotes from within, encouraging employee dedication.

3. Offers training to employees to enhance career growth.

4. Clearly defines career paths within the company, and promotes employees who achieve the defined goals.

5. Gains and maintains employee respect.

6. Includes employees in decision-making, and informs them of short- and long-term company goals.

7. Offers flexible work schedules, including flexible time and time off for pregnancy, employee illness, illness in family and family emergencies.

8. Offers matching funds in retirement programs. Also, offers wide-ranging retirement programs going beyond ownership of company stock.

9. Demands the most of employees, and rewards them financially and emotionally for their hard work.

10. Believes and demonstrates that the company is dependent on the excellence and dedication of employees.

11. Designs and maintains comfortable, efficient work areas for employees.

12. Believes that there is a strong correlation between customer satisfaction and employee dedication.

13. Is honest about its financial situation in reports to employees and shareholders.

14. Is driven by values offered to customers, not by a profit-at-any-cost mentality.

Of course, it's necessary to give more than lip service to these criteria if a company wants to create a desirable work environment. Companies included on best-to-work-for lists invest ongoing attention and commitment to each point listed above. The result, inevitably, has been tremendous employee involvement and dedication.

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