Fortune, the American global business magazine founded in New York in 1929, is a leading brand that regularly publishes ranked lists. These include the Fortune 500 which has ranked companies by revenue since 1955, and the 100 Best Companies to Work For, published annually since 1998.
Great Place to Work, a Fortune partner, states that the 100 Best Companies proves that “employee experience is not only compatible with profitability – it’s vital to achieving fiscal goals.”
In this post, we dig into what makes the top 10 of the top 100 companies ranked by Fortune so special.
While Fortune doesn’t make its own 100 best list (for obvious reasons), Great Place to Work reveals that Fortune is also a great place to work! According to the Great Place to Work 2021 Global Employee Engagement Study, 70% of Fortune employees acknowledge this to be the case. Typically, only about 57% of employees at other companies vote that their place of employment is a great place to work.
Some interesting figures from the survey show what’s so great about the Fortune workplace:
- 91% of employees are given a lot of responsibility
- 89% say they are proud to tell others they work there
- 88% are willing to give extra to get the job done
- 85% acknowledge that management trusts people to do a good job without watching over their shoulders
- 84% say they are able to take time off from their jobs when they believe it is necessary
All in all, this indicates a positive employee experience (EX) with the company. But what exactly is EX?
What is Employee Experience?
Employee experience (commonly referred to simply as EX) comprises everything employees encounter throughout their journey within a specific organization. From the moment prospective employees consider a job opening to well after they leave the company, every interaction — whether material or relational — shapes their perception and experience of the organization. Just as customer experience is crucial for external stakeholders, workforce experience is the HR equivalent. Ultimately, it emphasizes the importance of understanding employees’ needs, expectations, and feelings.
The founder and dean of Academy to Innovate HR (AIHR), Erik van Vulpen is a thought leader on the topic. In Employee Experience: A Complete Guide for HR, he identifies the key components of EX as:
- Physical experience
- Digital experience
- Cultural experience
They are, he says, the touchpoints that impact the overall employee experience most. And they affect productivity, performance, employee retention, profitability, and customer satisfaction.
Components of Employee Experience
Just like good managers remove roadblocks to empower employees, a positive employee experience does the same. Simplifying systems and processes makes work easier and smoother.
Companies that excel at employee experience, from recruitment to performance reviews, achieve this by streamlining complexity and fostering collaboration. This creates a work environment where employees can thrive.
Employee Experience Best Practices
There are several best practices you can focus on that will help you to create a satisfying and productive work environment and positive employee experience. Here are some simple guidelines.
Create a Supportive Environment
Cultivate a workplace where employees feel safe, valued, and respected. Be sure to encourage open communication and address any concerns promptly. This fosters a high-trust environment and supportive work culture where employees feel comfortable taking risks, sharing ideas, and asking for help.
Focus on Transparency and Trust
Clear communication, open dialogue, and keeping employees informed foster trust and nurture a strong feeling of psychological safety. Employees who trust leadership are more likely to be engaged, productive, and willing to go the extra mile.
Make Employees Feel Valued
Recognize and appreciate employees’ contributions however small they may be. A good way to do this is to celebrate achievements and milestones. This boosts morale and shows employees that their hard work is valued. Public recognition can be particularly motivating, and even a simple “thank you” can go a long way.
Support and Motivate Employees
An important way to encourage employee development and promote a positive employee experience is to provide opportunities for skill development and growth. Be sure to offer regular feedback and coaching to help employees thrive. Regular feedback helps employees understand their strengths and weaknesses. Coaching provides them with the tools and guidance they need to improve.
Provide Meaningful Work
Connecting employees to the company’s purpose, and ensuring their work makes a positive impact, stimulates a sense of value and contribution. Align tasks with employees’ skills and interests and show them how their work contributes to the organization’s goals. When employees understand the bigger picture and see the impact of their work, they are more likely to be engaged and motivated.
Offer Growth Opportunities
Offering opportunities for learning, skill development, and career advancement keeps employees engaged and motivated. To do this successfully, organizations need to create pathways for career advancement and invest in training and development programs. Providing clear paths for growth demonstrates the company’s commitment to its employees’ long-term success.
Personalize Development
Understand individual needs, tailor learning experiences, and focus heavily on employee development. Aim to customize development plans based on employees’ aspirations. A one-size-fits-all approach won’t work. By personalizing development opportunities, companies can ensure they are truly meeting the needs of their workforce.
Promote Diversity and Inclusion
It is vitally important to cultivate an inclusive environment where everyone feels welcome. Everyone in the organization, management and employees alike, need to value diverse perspectives and backgrounds. A diverse and inclusive workforce fosters creativity, innovation, and problem-solving.
Ensure a Work-Life Balance
It is essential to promote well-being and to support a healthy work-life balance for employees. Prioritizing these elements of work life reduces burnout and creates a more sustainable work environment. This not only benefits employees’ personal lives, but also leads to a more engaged and productive workforce.
Motivating Performance Through Measurement
Once you’ve got your best practice in place, it makes sense to track and measure performance. Choose specific, measurable metrics directly tied to your goals. This could be sales figures, customer satisfaction ratings, project completion rates, or employee engagement scores.
Tools like a sales scorecard can help track and measure both individual and team performance. By setting clear targets and providing regular updates on progress, employees can see how their efforts contribute to overall goals. Recognizing and rewarding achievements through these metrics not only motivates employees but also helps them stay focused on their objectives, fostering a culture of accountability and excellence.
Customer satisfaction surveys are another good way to measure performance. Track customer feedback through surveys to identify individuals or teams consistently exceeding expectations. Identify areas exceeding expectations and areas needing improvement.
Peer nominations can also work well. Implement a system where employees can nominate colleagues who demonstrate exceptional teamwork, innovation, or going the extra mile. This fosters a collaborative and supportive environment while highlighting valuable contributions.
Also consider regular performance reviews. You can do this by checking in regularly with teams or individual employees to discuss progress, address challenges, and set new objectives. This fosters open communication and allows for adjustments as needed.
10 Examples of Great Companies Delivering Stellar Employee Experience
The 2023 Fortune 100 Best Companies to Work For all provide an exceptional employee experience. As promised, we are showcasing the top 10:
- Cisco
- Hilton
- American Express
- Wegmans Food Markets, Inc.
- Accenture
- NVIDIA
- Atlassian, Inc.
- salesforce.com
- Comcast NBCUniversal
- Marriott International
It’s not what these companies do in terms of products or services that’s important. It’s how they do it, specifically how well they treat their employees.
“Productivity at the 100 Best Companies Doubles Over Last Year, Mental Health Soars.”
Great Place to Work
Michael C. Bush, CEO of Great Place to Work says that employees want to matter to their organization regardless of their title, their age, or the color of their skin. They want to be heard, valued, and cared for. At the same time, CEOs want to grow, innovate, and outperform. They want high levels of productivity, particularly in a sluggish economy — because the more productive your employees are, the more revenue your business will make.
His question is, “Wouldn’t it be nice to have both? A company culture that puts people first and achieves strong business results?”
Many companies think they have a choice between a great business or great culture. But, they’re wrong, says Bush. And the 2023 Fortune 100 Best Companies to Work For prove it.
“Revenue per employee grows 7% at the best 100 companies.”
Great Place to Work
“Leaders at winning companies understand that you don’t need to work employees to the point of burnout to be successful. Productivity and performance aren’t at odds with supporting your people,” says Bush.
#1 Cisco
Cisco has been top of the best 100 companies to work for list for three years in a row. A leading Information Technology (IT) company based in California, it is clear that Cisco really cares about the people who work for them. A highlight for employees includes days throughout the year when Cisco shuts down to let employees recharge. “Cisco also cares about the environment, and social justice, and has a strong commitment to diversity and equality,” employees say.
Additionally, Cisco prioritizes employee development and learning. They invest in training and development, with an average of 8.6 hours spent per full-time employee (FTE) in fiscal 2023.
They emphasize clarity, transparency, and agility in performance management, moving away from traditional models to an inclusive approach. And they encourage weekly check-ins between managers and employees via a tool called Team Space, promoting communication and feedback.
#2 Hilton
Everybody’s heard of Hilton hotels, even if they haven’t stayed in one. So, it stands to reason that Hilton is in the hospitality industry. What you may not know is that they have ranked as a best 100 company for the past six years.
The company’s commitment to diversity and inclusion and a focus on well-being have contributed to their consistent recognition as a Fortune 100 Best Company to Work For.
Even during periods when layoffs were inevitable, Hilton maintained employee trust by making values-based decisions. They partnered with other industries to find placement opportunities for furloughed staff.
Additionally, Hilton’s HR strategy aims to create communities of care, especially during the critical first 90 days of employment.
#3 American Express
A financial services and insurance company that is well known globally, American Express (Amex) prioritizes well-being, inclusivity, and personal and professional growth for its employees. They have achieved 100% pay equity globally, they support flexibility, and they consistently offer learning opportunities to enhance skills and progression into leadership roles.
Employees say that Amex treats employees like customers, infusing purpose into their experience and creating brand loyalty.
#4 Wegmans Food Markets, Inc.
Wegmans is, of course, in retail. To quote an employee: “Something unique about this company that makes it an excellent place to work is the family orientation that is valued in every aspect of the corporation, and how it isn’t just something that is said to be important.”
The company is also known for its commitment to diversity and inclusion, which shapes its workforce. So, it’s no surprise that they consistently rank as the best workplace.
Wegmans also focuses on sustainability, zero waste, and community impact. They partner with local businesses and prioritize employee well-being. Furthermore, Wegmans aims to reduce its carbon footprint and enhance the employee experience through innovative solutions.
#5 Accenture
Accenture offers professional services and reimagines the employee experience — EX factor — by treating employees like customers. They co-create experiences based on liquid expectations.
Their operating model transformation leverages global business services (GBS) to deliver EX at scale and adapt to shifting needs. “The fact that we don’t all have to look the same, have the same sexual orientation, but have our values and opinions appreciated really matters,” an employee states.
Additionally, Accenture’s focus on leadership development and purpose-led EX drives engagement and competitiveness.
#6 NVIDIA
NVIDIA is a California-based IT company that fosters a supportive culture that encourages innovation and professional growth. Their commitment to employee well-being and a supportive work environment contributes to their positive workplace reputation.
NVIDIA values agility and resilience, leveraging an expanded talent and technology ecosystem.
Glassdoor also named it #2 in its Best Places to Work 2024 large company category.
7. Atlassian, Inc.
Atlassian, another California-based IT company, emphasizes employee autonomy and creativity.
According to employees, the culture is truly amazing and people actually believe in and deliver on the Atlassian values. Most people say they are willing to go out of their way to help others.
The company has successfully created a community of valuable brand stakeholders by activating a purpose-led employee experience. Additionally, Atlassian’s collaborative work environment fosters innovation and inclusion.
8. salesforce.com
Salesforce, another IT giant based in California, focuses on equality, development, and community impact.
Their commitment to employee well-being and social responsibility contributes to their positive workplace culture. Trailblazer Ranch is an exciting initiative where employees can meet and participate in tactile experiences like guided nature walks, restorative yoga, garden tours, and group cooking classes.
Josh Gray, The Global Head of Employee Experience at Salesforce calls himself “a strategist with a passion for making workplaces better places for humans to thrive.”
“By shifting to a human-centered approach, companies can ensure they are designing experiences that are efficient, effective, and usable by the humans engaging with the solution.”
Josh Gray
The employees appreciate the company’s approach, with one stating he is “particularly amazed at how genuine the leadership is.”
9. Comcast NBCUniversal
A leader in telecommunications, Comcast NBCUniversal prioritizes diversity, benefits, and community involvement. Their focus on employee well-being and inclusion clearly makes them a great place to work. “This is what work-life balance should look like,” says one of them.
This indicates why Comcast was also honored as a top 20 company on DiversityInc’s Top 50 list as one of the most inclusive companies in the U.S.
10. Marriott International
Marriott International is a well-known name in the hospitality industry. Headquartered in Bethesda, Maryland, the company offers employee-friendly policies and growth opportunities. Their dedication to social responsibility and employee well-being and work-life balance significantly enhances their positive workplace culture.
Marriott’s leadership development programs, including Voyage, empower employees at all levels.
“Taking care of people and their well-being is our most precious cultural inheritance.”
Marriott International
What’s Next?
You will have seen from these employee experience examples that many successful companies proudly prioritize diversity and inclusion to achieve stellar employee experience.
How does your organization perform when it comes to DEI? If you’re not achieving, we’d be happy to help you to perform better in that direction. Check out our DEI checklist.
FAQ
Employee experience refers to the sum of all the interactions and feelings an employee has with a company, from the time they apply for a job to the day they leave. It encompasses everything from the recruitment process, onboarding, company culture, work environment, to growth opportunities and compensation.
You can create a good employee experience by focusing on employee needs and well-being. This includes providing opportunities for growth, recognition, and a healthy work-life balance.
A great, positive employee experience means employees feel valued, engaged, and motivated. It makes them feel like they are making a difference.
Yes, employee experience is related to customer experience. Happy and engaged employees are more likely to provide excellent customer service.
