Great Workplaces Outperform and Weather the Recession Better
GreatPlaceJobs is happy to share a ground-breaking study comparing layoff trends between top-rated and other Fortune 100 companies. The findings clearly demonstrate that the biggest employers are not necessarily the best.
The study shows that companies recognized as great workplaces conducted layoffs at a rate of less than half that of a general sample of companies. Only 35% of excellent employers laid off workers in 2008, as opposed to a shocking rate of 73% of regular companies.
The revenue growth rate at great workplace companies in Q3 2008 was 27.4% higher than the rest of the Fortune 100 and the average stock price of the excellent employers was close to 10% higher at the end of 2008 (compared to the beginning of 2008) than typical Fortune 100 companies.
“In this competitive marketplace, it is crucial for job seekers to target their efforts at finding positions with top-ranked employers, such as those featured on GreatPlaceJobs.com. Award winning companies are more likely to survive the current recession without suffering layoffs or a bankruptcy,” said Asher Adelman, founder and CEO of GreatPlaceJobs. “Top-ranked employers have proven themselves to be much more recession-proof than the average company.”
The GreatPlaceJobs Great Workplace Employment Study compared the employment, financial and operating data of the Fortune 100 largest U.S. companies with the Fortune 100 Best Companies to Work For. The year-over-year revenue growth in Q3 2008 was much stronger at the great workplace companies, who, despite the rapidly deteriorating economy, achieved impressive revenue growth of 29.9% from Q3 2007. In comparison, the Fortune 100 largest companies delivered revenue growth of only a paltry 2.5% in Q3 2008 in the same time frame.
A clear sign of the great employers’ competitive advantage and resilience is evident in the fact that nine of the Fortune 100’s largest companies filed for bankruptcy or were bailed out by the U.S. government in 2008, while none of the great workplace companies failed on this magnitude.
A complete copy of the GreatPlaceJobs Great Workplace Employment Study and additional information about the methodology may be requested via email: contact@greatplacejobs.com.
Miriam Salpeter
GreatPlaceJobs Career Advice Expert
www.keppiecareers.com
Tags: data on great workplaces, great workplaces best in recession, GreatPlaceJobs, why work for great employers
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