When it comes to job security and profitability, quality employers have more to offer than large companies.
GreatPlaceJobs.com recently released a study comparing layoffs among the largest Fortune 100 companies and the Fortune 100 Best Companies to Work For. The results show that working for a great company may be more beneficial than working for a large company.
The GreatPlaceJobs Great Workplace Employment Study found that companies recognized as great workplaces conducted layoffs half as often as a general sample of other companies. Only 35 percent of great employers conducted layoffs during 2008, while 73 percent of regular companies saw layoffs.
On top of that, nine of the Fortune 100 largest companies filed for bankruptcy or were bailed out by the U.S. government last year. None of the great workplace companies faced this fate.
Great workplaces had a 27.4 percent higher revenue growth rate during Q3. These employers saw revenue growth of 29.9 percent from Q3 2007 to Q3 2008. During the same time, the Fortune 100 largest companies saw revenue growth of only 2.5 percent.
Also, the average stock price for a great employer was 10 percent higher than competitors’ stock prices at the end of 2008.
“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,” Asher Adelman, founder and CEO of GreatPlaceJobs, said. “Award winning companies are more likely to survive the current recession without suffering layoffs or a bankruptcy.”
The study compared employment, financial and operating data of the Fortune 100 and largest U.S. companies with the Fortune 100 Best Companies to Work For.
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January 22nd, 2009 at 11:33 am
Interesting, but I looked up some of the “great places” on the site and then looked them up for the number of layoffs. It looks like most of the companies, especially those falling in the large but great companies are suffering the same amount of cost cutting via layoffs as the others. Great company or not, this economy doesn’t make any company immune. Not to say this article doesn’t have it’s merits but I am also noticing that a lot of online job boards are releasing “studies” which, in my opinion, are wiles to gain more traffic. I always look up traffic and see that when a study is conducted and released to the internet the traffic goes up for a short period of time before going back down again. Sales are tough now and traffic is a good indicator of job board effectiveness.