Each year, the Boston Business Journal recognizes an elite group of employers in the greater Boston area as the “Best Places to Work.” These companies are broken into small, medium, and large employers.  We wondered – what exactly makes a company a “Best Place to Work” -   on what criteria  are they being ranked? Obviously, what makes a place a great place to work varies somewhat depending on who you ask.  But, The Boston Business Journal has developed a thorough understanding of the inner workings of successful companies, many of whom are pioneers in developing great working environments. Although there is no magic formula for evaluating the best places to work, when we examined the companies being honored, it became obvious that they all one thing in common – they know that if a company expects a lot out of their employees,  it is only fair that employers reciprocate.

The first thing we noticed when we read about the winners of last year’s  Best Places to Work winners was that it wasn’t just a list of corporate giants handing out seven-figure salaries to their employees.   It quickly became evident that compensation is not necessarily what determines how employees view their company. What separates companies on the list from the pack is an ability to compensate the efforts of their employees with much more than an extra zero on their bonus (although recognizing employee efforts financially never hurts!) – benefits, incentives, opportunities, and an overall extraordinary work environment. A business that harnesses the power of combining such ideas creates a motivated and loyal employee base.

Creating a comfortable and enjoyable work environment is probably the most important component for keeping employees extremely satisfied.  Some companies go so far as to completely re-thinking their work environment. For example HubSpot, a 2010 and 2011 Best Places winner, is known for having ping-pong tables throughout their offices and always maintaining a beer-stocked fridge. Certainly, they are stretching the boundaries of traditional work environments, but they are doing so with tremendous success. HubSpot understands that their employees are the face of their company and sees value in making them as happy and comfortable as possible. From a management perspective, you want employees to feel at ease when communicating with  one another. Sharing ideas and building relationships can foster a feeling of community and loyalty within a company and ultimately help develop future leaders within the company. Such relationships are built more naturally in a comfortable environment. Imagine showing up to work your first day and getting to know your boss a little by playing a quick game of ping-pong, certainly changes the way we look at the workplace doesn’t it?   Our guess is you would be more inclined to approach him when work-related issues arrive. Assuming your boss isn’t a Red Sox fan and you’re a Yanks fan, you will probably walk away from that first day of work with a smile on your face which is the sign of a bright future at that company.

South Shore Hospital, another company that topped last year’s Best Places to Work list, was recognized for their exceptional efforts to give their employees a voice.  They created their “bright ideas” program which encourages employees to share ideas that can improve the company with members of senior management.  Valuing and acting upon the ideas and opinions of employees creates a stronger bond between them and the management team that guides them.  Again, this is another example increasing a sense of comfort in the workplace and nurturing a feeling of loyalty towards the company.

Working in a fun environment is great, but it must be paired with some type merit-based compensation if employers hope to retain top performers.  Employees don’t care about the spa located on the fifth floor when their hard-work and dedication is not compensated appropriately by their employer. Traditionally speaking, employees would expect a raise for putting up good numbers. Renewal by Anderson, a 2010 BBJ Best Places winner, rewards entire divisions of their firm for completing projects and meeting goals. They recognize the efforts of employees not necessarily with a cash bonus, but rather with something else of value.  This could include anything from vacation days to stock options – even the latest tech gadgets. Employees get a little icing on the cake for adding value to the company.  The senior management of Renewal by Anderson used this type of incentive program to unite employees of an entire division by rewarding them as a whole for reaching their goal. When you commend the efforts of a group, they tend to motivate each other in order to receive that same recognition in future endeavors. This is analogous to the success of a sports team – when a team wins a championship, they are recognized by a league or commission for their outstanding performance. This creates very intense feelings of camaraderie amongst the players, who will in return dedicate themselves to winning another championship.

This year’s Boston Business Journal “Best Places to Work” ceremony will be held Thursday morning.  To see who wins top honors, follow the hash tag #BBJBestPlaces via @BBJNewsroom, @BBJPublisher, and @451Heat.

 

What do you think makes a company a great place to work?  Does your company do something unique that makes them stand out from the crowd?  Let us know your thoughts in the comments section below.

-451 Marketing team