In just a few short months, the COVID-19 pandemic as forced tens of millions of people out of jobs. These are extremely difficult times not just for workers but also for companies. But some businesses take great care of their employees. Here we take a look at the top 10 best companies to work for in 2020.
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Technology companies offer their employees handsome paychecks, tons of perks, pool tables, and more. But the best company to work for in 2020 is a non-tech business. To attract and retain talent, a company also needs to give them the opportunities to learn and grow. The best companies deeply value their people and the impact they have on the society.
The list below is based on Fortune magazine's annual 'Best Companies to Work for' ranking. Fortune partners with the people analytics and consulting firm Great Places To Work to compile the annual ranking.
They surveyed more than 4.1 million people across the United States for the workforce study. Only companies with at least 1,000 employees in the United States were considered for the study. Fortune and Great Places to Work asked employees to anonymously respond to 60 survey questions related to their experiences at the workplace.
Ranked: Best companies to work for in 2020
10- Kimptons Hotels & Restaurants
In the last few months, there has been intense debate over workplace diversity. Most companies just talk while some have been walking the talk for years. San Francisco-based Kimpton Hotels & Restaurants is the one walking the talk. About 57% of its workforce are minorities and 47% are women. The company operates about 150 boutique hotels and chef-driven restaurants across the country. Employees are encouraged and rewarded for creating magical moments for guests.
9- American Express
American Express revolutionized the way people borrow money when it introduced the first credit card in 1958. The company's Colleague Value Proposition initiative promotes family-friendly and flexible work environment. American Express employees have praised the company for its commitment to career development programs.
Stryker is a medical technology firm headquartered in Kalamazoo, Michigan. Women account for 35% of its workforce while minorities make up 25%. Through its partnership with Operation Smile, Stryker sponsors groups of employees to serve as non-medical mission volunteers on its annual trips. It has been growing rapidly, thanks in large part to acquisitions.
7- Edward Jones
Edward Jones is the seventh best company to work for in 2020. The St. Louis-based financial services company offers tons of compensation perks including three bonuses per year, a merit-based pay increase, and the opportunity to become a limited partner in the firm. Women make up a little over 60% of its workforce.
The cloud computing giant has consistently ranked among the best companies to work for for more than a decade. More than 50% of its new hires come through referrals by current employees. Minorities account for 35% of its workforce. So do women. Salesforce focuses not only on the career objectives of its employees but also on their well-being.
Founded in 2005, Workday has 8,800 employees. According to Fortune magazine, 41.6% of the company's workforce are women and 43.1% are minorities. Workday is a cloud-based human capital and financial management software provider. The company has a four-month paid Career Accelerator Program to bring military veterans into its workforce.
Cisco has recently been in the news over discrimination against a Dalit (low cast) employee. But a single bad incident doesn't reflect the company's culture. The California-based networking equipment maker offers free depression and anxiety screening, yoga classes, and more at on-campus centers. New parents get a generous paid time-off depending on if they are the main or supporting caregiver.
3- Wegmans Food Markets
Women account for a little over half of the New York-based grocery chain's 51,069-strong workforce. One employee said about the family-owned grocery chain, "When management says they care, it actually shows in their actions.” Wegmans Food Markets helps people live healthier, better lives through food.
2- Ultimate Software
Ultimate Software provides cloud-based HR management solutions to enterprise customers. The Weston, Florida-based company has more than 5,600 employees. The company went private in an $11 billion deal last year. Ultimate Software employees have praised its friendly and warm culture. It offers unlimited paid time off and fully paid healthcare premiums.
Hilton continues to hold the crown of the best company to work for. Close to 70% of its 62,000 employees are minorities and 53.3% are women. The hotel and hospitality chain is the first non-tech company to top Fortune magazine's Best Places to Work for list two years in a row. Hilton's travel program allows its employees to become customers at locations around the world at heavily discounted rates.