The top 10 companies to work for in the country
Competitive salaries, generous benefits packages and unique perks are just the beginning.
Work is one of the pillars of American identity. We change at a profound level when we land our first “real” job and move out of our parents’ home. We devote major amounts of time to work. Full-time wage earners spend a minimum of 40 hours per week in the workplace. Salaried workers often work considerably more than 40 hours.
There’s also the commute. In America, the average commute to work lasts 25.4 minutes one way, according to the U.S. Census Bureau. Needless to say, where we work is just as important as what we do. The particular organization we work for determines how much we’ll earn, what perks and benefits we’ll earn and, to an extent, what kind of person we’ll be. The workplace has the power to deeply affect our identity because each site is a culture of its own.
Online career community Glassdoor is known for its transparent and thorough review of corporations through corporate culture and values review, salary reports, CEO rankings, benefits reviews, perks, and more. These rankings are based on anonymous employee feedback acquired through Glassdoor-created surveys that ask participants to rate items such as management practices, compensation, benefits packages, workplace satisfaction and growth, corporate culture, interview and on-boarding process, and much more.
The company released its annual list of the best places to work according to 2015 employees—here are the top 10.
10. The Mayo Clinic
The Mayo Clinic is “the first and largest integrated, not-for-profit medical group practice in the world,” according to its website. It’s headquartered in Rochester, Minn. and employs more than 5,000 people. 70 percent of Mayo employees would recommend the company to a friend, and 90 percent approve of the CEO. Workplace satisfaction is a large driver of this ranking: Employees at the Mayo Clinic feel a strong sense of value and purpose, as their job is to take care of people. The Mayo Clinic also offers great workout facilities and healthy food to encourage wellness among staff as well.
One notable fact: Physicians at The Mayo Clinic can make up to $272,378, which is 58 percent above the national average.
9. McKinsey & Company
McKinsey & Company is a consulting firm with a “twofold mission.” Firstly, the organization aims to help clients improve their performance and secondly, it focuses on “making McKinsey a great organization that attracts, develops, excites and retains exceptional people.”
The firm has been recognized for its positive work environment and support for female executives and the LGBT community. Employees are attracted to McKinsey & Company for the opportunity to work on exceptionally challenging problems with rewarding results—one employee specifically expressed job satisfaction resulting from having helped a high school increase its graduation rate. Management consultant associates, a common role within the firm, make approximately $87.98 per hour, which is 12 percent above the national average.
This restaurant’s philosophy about food preparation extends to their treatment of workers. In-N-Out emphasizes making good hamburgers over franchising. 92 percent of employees would recommend the company to a friend and 91 percent approve of their CEO.
Wage and benefits at this chain are industry-leading: An associate at In-N-Out makes an average of $11.60 per hour while assistant managers can make $54,117, which is 25 percent above the national average. They have a wage raise program based on steps. In addition to excellent training and frequent potential for upward mobility, this fast food joint also offers maternity and paternity leave, a 401(k) plan, free lunch or snacks, paid time off and health insurance.
Headquartered in San Antonio, Texas, this retail chain operates 340 stores in a number of formats including superstores, supermarkets and gourmet markets and 96 percent of employees approve of the CEO.
In addition to full benefits, H-E-B offers ample opportunity for advancement and in generous with salaries: cashiers make about $9.97 per hour, which is 3 percent above national average, while department managers can make $57,811, a whopping 24 percent above the national average. Employees are guaranteed raises every year—sometimes even two—while department managers receive cash bonuses and profit sharing on top of it all.
The oil giant’s benefits include a retirement, 401(k) and pension plan. As with all of the companies on this list, more than 90 percent of employees approve of the CEO. Chevron was included on Glassdoor’s list of the 50 Best Places to Work (according to employees) in 2010, 2012 and 2013 as well as the Human Rights Campaign’s 2012 list of Best Places to Work for LGBT Equality.
Interns can make $6,000 per month and a reservoir engineer can make $123,578. According to one employee, “Chevron offers a competitive performance-based promotion system that encourages high performance and rewards hard work.”
5. Boston Consulting Group
This employee-owned firm offers a wide array of services catering mainly to large corporations. According to a company statement, “BCG's practice areas include branding and marketing, corporate finance, globalization, business strategy, leadership development, and information technology.”
In 2014, the company landed at number three on Fortune’s list of the 100 Best Companies to Work For (worldwide) and has been recognized by LGBT organizations for support and promoting equality. Employees at BCG are attracted to the quality of fellow staff members, as relayed by one employee on Glassdoor.com: "The best and the brightest from all fields and backgrounds (think Rhodes scholars) create a really rich intellectual atmosphere."
4. F5 Networks
F5 Networks focuses on providing solutions to the application-using world.
“At F5, we like people who rethink their world. They tinker. They solve problems. They take things apart and make them better,” explained one corporate video. Benefits include comprehensive medical, dental and vision insurance, free snacks, and an on-site fitness facility with trainers available. The company’s 401(k) plan includes matching, and the Software Engineer I position pays $107,038 while a principal software engineer can earn $173,748.
Most importantly, the concept of work-life balance seems to be taken seriously.
"Managers show by example that time off is not only acceptable but a good thing," wrote one software engineer,” wrote one reviewer.
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3. Nestlé Purina Pet Care
“The corporate culture is second to none,” one employee wrote about Nestlé Purina Pet Care. “Strong Midwestern roots, stability and friendly environment; coupled with the vast opportunities that come with an international giant parent company. There is a tremendous amount of mutual trust and respect for others within NPPC.”
Other perks include an onsite nurse, gym (with instructor!), onsite child care, flexible time, and the ability to work remotely. Pets are even allowed to frolic in the office, which may be why 100 percent of this company’s employees approve of the CEO.
2. Bain & Company
This global strategy consulting firm was number one on Glassdoor’s employee-based list in 2014 and it’s clear that workplace culture is a major—if not the main—reason for the ranking. According to staff, the colleagues have a high regard and respect for one another.
“Our clients tell us consistently that what makes us different is our people,” one manager wrote. The firm was also the recipient of Best Consulting Internship and Best Overall Internships awards from Vault, reaffirming the brand’s commitment to supporting the advancement of future generations. Financial support is also a key asset: An associate consultant makes an average of $76,481, and a consultant can receive nearly double that ($139,559).
Our obvious first choice, this search engine guru is also at the top of Fortune’s 2015 list of the best places to work. A regular on this list (Google also topped 2012 and 2014’s rankings), the tech giant is in a league of its own.
“Google is not a conventional company and we don’t intend to become one,” the company proudly states on its website. “We provide individually-tailored compensation packages that can be comprised of competitive salary, bonus, and equity components, along with the opportunity to earn further financial bonuses and rewards.”
At Google, workers are treated as individuals and not commodities—and they are (slightly?!) spoiled, not to mention extremely lucky.
“Yes, free breakfast, lunch and dinner every weekday. Amazing holiday parties (at Waldorf Astoria, New York Public Library, MoMA, etc.); overnight ski trips to Vermont; overnight nature trips to the Poconos in the summer; summer picnics at Chelsea piers; and on and on and on,” wrote one employee.
What’s Causing the Global Supply Crunch?
As the global economy gradually recovers from the impact of COVID-19 pandemic, worldwide supply crunch is intensifying, spreading not only from one country to another, but also from one industry to another.
A year ago, when the pandemic continued to spread, economies around the world were severely hit and there was panic buying among consumers. Today, it is companies that are trying to go on a stockpiling, buying more raw materials than they need to keep up with rapidly recovering demand. The panic buying is fuelling more shortages of raw materials, including copper, iron ore, steel, corn, coffee, wheat, soybeans, wood, semiconductors, plastics, cardboard, etc. As a result, inventories of seemingly every raw material around the world are running low. “You name it, and we have a shortage on it,” Tom Linebarger, chairman and chief executive of engine and generator manufacturer Cummins Inc., said earlier, and he noted that his clients are “trying to get everything they can because they see high demand”.
Supply shortages have driven prices up significantly, with the impact of rising prices for some key raw materials being significant. The prices of various industrial raw materials such as crude oil, plastics, and chemicals are rising. Some of the impacts of higher raw material prices have already begun to be reflected in consumer goods. Reynolds Consumer Products Inc., the maker of the namesake aluminium foil and Hefty trash bags, is planning another round of price hike, and this will be the third for the increase this year alone. Food prices are also climbing. The price of palm oil, the world's most consumed edible oil, has risen more than 135% over the past year to record levels; soybeans have topped USD 16 a bushel for the first time since 2012; corn futures prices have touched an eight-year high, and wheat futures prices have risen to the highest level since 2013.
Changes in factory orders due to the impact of the pandemic have also tightened supply in some markets and pushed up prices for raw materials. Some knitting enterprises in Dongguan, Guangdong, said that affected by the pandemic, about 40% of the orders have come back to China from countries such as India and Southeast Asian countries, while the factory utilisation rate has increased by about 30% to 40%, and now it has reached 100%. In Jiangyin, Jiangsu, a bedsheet enterprise adjusted its production capacity to accommodate a USD 20 million order from Southeast Asia. Increased demand from the textile industry has led to tight supplies of raw materials. In Wujiang, Jiangsu, where polyester filament yarn is the most in demand, the shortage of raw materials this year has been unexpected, especially in the current off-season, when there is not much stock. In Suzhou, also in Jiangsu, the export of polyester filament yarn increased by nearly 60% from January to April, while the price increased by 40% to 60%. Compared with the same period last year, the price of filament yarn increased by RMB 2000-3000/ton.
Remarkably, this hoarding frenzy is pushing global supply chains to the brink of collapse. Inventory shortages, transportation bottlenecks, and price increases are nearing critical levels, raising concerns that strong global growth could fuel inflation. The supply disruptions in the past are simply incomparable compared to the severe inventory crunch of 2021. Industry insiders predict that both large and small enterprises will be affected by this supply shortage.
Why are current supply shortages so acute?
Researchers at ANBOUND believe that instead of having one single factor, there are multiple reasons for the emergence of complex systemic problems.
First of all, there is the recovery in demand as the pandemic is brought under control. This year, as vaccination rollout efforts have brought the pandemic significantly under control in the United States and some European countries, the economy has begun to show significant momentum for recovery. This trend prompted a near-simultaneous recovery in most markets around the world. The collective recovery of global markets has led to a near-simultaneous increase in demand, exacerbating the mismatch between supply and demand. In the case of commodity futures, the capital was collectively bullish on commodities under such expectations, significantly driving up the prices of commodities (mostly upstream commodities) and spreading to midstream and downstream commodities. It should be noted in particular that the surge in demand for certain specific commodities under the pandemic has also exacerbated the supply-demand mismatch in some industrial chains. For example, the increase in the need of remote, online working and studying has increased the demand for all kinds of electronic products, leading to a surge in global demand for semiconductor chips, which affects several chip-requiring industries.
Another reason is that the pandemic has disrupted the global supply chain system, causing distortions in supply and demand in certain industries, which are transmitted along the supply chain, causing a wider supply crunch. As ANBOUND previously pointed out, the spread of the pandemic has dealt multiple blows to global supply chains. During the pandemic, China, as the "world's factory", was affected by the pandemic and its production side was disrupted. Then, the demand side of developed countries was suppressed by the impact of the pandemic. This is followed by the fact that the malfunctioning of the global supply chain system has exacerbated global supply distortions. To cite an example, the severe shortage of containers due to disruption of the supply chain has exacerbated the global supply distortions.
In addition, enterprises began to collectively increase their inventories, leading to the increase of inventories in the industrial chain and supply chain, amplifying the demand for all kinds of raw materials, intermediate products, and supporting products. In the past, in order to save costs and improve efficiency, many enterprises advocated zero-inventory production and tried to reduce the inventory in the production link, thereby reducing the capital occupation. However, the smooth operation of zero inventory production depends on the efficient global supply chain system. Once a problem occurs in the global supply chain system, it can lead to chaos in the whole supply chain system. The 2011 earthquake in Tōhoku, Japan has caused the shutdown of some key auto parts plants, which once led to the global auto supply chain being affected. Likewise, the global spread of the COVID-19 pandemic since last year has damaged, distorted, and even disrupted global supply chains.
Finally, geopolitical factors have also contributed to the tight supply of global commodities, resulting in the artificial disruption of part of the industrial chain and supply chain. For example, the U.S.-driven crackdown on chip supply to Chinese enterprises and related sanctions have seriously disrupted the global semiconductor industry chain.
How long will the supply crunch last?
Overall, the global supply crunch is due to a variety of reasons, including increased demand from the post-pandemic economic recovery, distortions in global supply chains caused by the pandemic, collective stockpiling by enterprises around the world, and geopolitical disruptions. However, this does not represent a significant expansion of aggregate global demand, but rather a distortion of the existing system as it is disrupted and broken. Judging from the current situation, this tight supply situation will last for a long time, leading to the price rise of raw materials and components. Therefore, both enterprises and governments need to be prepared for this scenario in the medium- and long-term.
Mr. He Jun is Partner, Director of China Macro-Economic Research Team and Senior Researcher. His research field covers China’s macro-economy, energy industry and public policy.