In an economy as tough as New York City’s, it’s not surprising that many businesses are looking for ways to cut spending and minimize the costs of operating in the city. This often not only includes cutting expenses from the annual Christmas party and travel budget, but also cutting employee benefits such as health and a 401k. Nevertheless, there are always going to be a few companies going against the grain and competing to offer the best working environment they can.
Crain’s New York Business does a study every year identifying the best places to work in New York City. This year 50 companies were recognized as being exceptional places to work. Their 401k and health benefits are growing with the company, their offices include official “fun committees,” and they are more than happy to provide continuing education and promote from within. These companies all operate in or around New York City and are a great model to follow for anyone wanting to start their own company in the area.What Makes a “Best” Place To Work?According to the Bureau of Labor Statistics, 65% of employers offer full-time employees partial or full coverage of medical benefits, ten paid holidays and ten additional paid vacation days (after one year of full-time employment); above average employers might also include a contribution towards retirement funds and pensions for their employees.So if that’s average, what makes a copmany the “best” to work at? While the answer is surely a subjective one, Crain’s judged a company’s eligibility for the list by looking at overall employee satisfaction, the benefits and perks provided by the company, as well as the collegial environment and advancement opportunities within the company.
Apart from simply offering high quality healthcare and 401k contributions, the companies making the top of the list went all out to offer unique perks for their employees such as tuition reimbursement, fitness/wellness initiatives, and telecommuting options. Other common characteristics of top companies? Fun on-site activities such as Ping-Pong or Foosball, on-site meals and snacks, company game nights, and time-off for community service.Some of the companies went above and beyond. Some notable examples include company happy hours with microbrews and margaritas (with the company catching the tab, of course) and a company-wide trip to Disney World. What’s not to love?A particularly notable example is the relocation options offered by 2012’s highest rated company, Peppercomm. Peppercomm invites its employees to have a change of scenery and pace offering them the opportunity to try a three to six month stint at the company’s San Francisco or London offices. The ability to relocate on a whim is in addition to the multiple other benefits offered by Peppercomm, such as access to professional development programs ranging from comedic training to oral presentation skills, and an official “Fun Committee” ensuring all have a good time.Yes, a Fun Committee.What Kind of Companies Made the List?After hearing about all the benefits, perks and opportunities these companies offer their employees, you are surely wondering which companies made the cut.The companies that made the list vary widely. The size of the companies on the list ranges from just 25 employees to more than 600 and includes everything from established legal companies such as Bingham McCutchen with well over a century under their belt, to advertising and marketing company Simulmedia Inc. which has only existed for three years. Not surprisingly, the technological companies in the region made up a large chunk of the list; the competition from their benefit-happy, West Coast counterparts in Silicon Alley surely had a hand in that. Other industries on the list include public relations, advertising, law firms, real estate agencies, and nonprofits.Crain’s list of the top 50 companies changes every year, with companies crawling up and down positions and on and off the list. Some of the companies are regulars on the list – Bingham McCutchen, Kimpton Hotels & Restaurants and Silverstein Properties Inc., to name a few. On an inspiring note, the improving economy means that more than 60% of these companies are new to the list – and that new companies are willing to offer impressive benefits to attract and retain good talent.What do These Companies Have in Common?There are a number of factors that make these companies so different from each other, from size to industry to the types benefits that they offer their individual employees. So what is it that these companies have in common?They all have the right attitude about what a working environment should be, and what makes employees happy, healthy and productive. We saw overwhelmingly on the list that the companies were focused on treating employees as individuals with lives and personalities beyond just work. From technology company Intent Media allowing employees to bring their dogs to work, to Charter School Business Management allowing workers to take a day off on their birthday, these companies focus on the human side of their employees.These employers also listen to what employees are asking for – and act on their suggestions. Employees know what is or is not working in an operation; eliminating these problems keeps everyone concentrated, more productive, and in the end, happier.The majority of these companies operate on a work hard, play hard attitude, which generally translates into a positive working environment where everyone is happy to do their part while having fun. The benefits offered by these organizations are far above the average in the country, not to mention the “outside-the-box” perks.Hopefully more employers will take note of the rewards these companies have seen from their efforts to improve employee satisfaction and keep attract and keep talented individuals. Maybe one day we’ll be asking, “What kind of company doesn’t go to Disney World?” rather than being surprised that such a concept exists. See the full list of companies which made the 2012 list.