Pensions & Investments | Ingredients for a great place to work
BY NANCY K. WEBMAN |
Twenty-nine firms are ranked as this year’s Best Places to Work in Money Management.
That includes eight companies that have made the list each year sincePensions & Investments’ inaugural effort in 2012.
Repeat winners — those ranked at least twice in the three years — outnumber new names by 15-14.
Principal Financial Group retained a first-place spot, but moved to the group of firms with more than 1,000 employees from the next largest category. The Blackstone Group remained the top alternatives manager.
Two newcomers captured first place — The TCW Group Inc. in the category of 500 to 999 employees, and Westwood Holdings Group among firms with 100 to 499 employees.
New this year: The category of firms with 99 or fewer employees was replaced with two. One category is for firms with 50 to 99, and one is for those with fewer than 50 employees.
Responses to the employer and employee questionnaires for all companies participating in the 2014 project showed some statistical differences between those that made the list and those that didn’t, according to an analysis of the data by Rock Baek, senior associate in analytics, surveys and co-sourcing in Buck Consultants LLC’s San Francisco office.
Among his findings:
- 87% of employees at BPTW companies participate in performance-based pay programs vs. 76% of employees at the other companies;
- 40% of the BPTW companies provide fully paid-for medical insurance and 45% offer free dental insurance, vs. 27% and 25%, respectively, for those that didn’t make the list;
- Pay for performance, employee relations and social responsibility, and corporate culture and communication are more important to BPTW employers than to those that didn’t get ranked;
- Employees at companies rated as Best Places to Work considered total rewards (compensation and benefits) and career development to be more important than did their counterparts at firms that didn’t make the list; and
- Special perks such as free or subsidized meals, recreational amenities and on-site fitness centers are considered more important at BPTW companies than at others. One company where perks are plentiful — and highly valued — is Highland Capital Management LP in Dallas. For example, health care is free of premiums and deductibles; breakfast foods are available for staff to prepare; and lunches are free up to an allowance of $15 daily.
FULL STORY – Ingredients for a great place to work