Making Small Cos. Great Places to Work

Lessons From Some Prizewinners

I rarely refer to articles not available online, and I know that some of the Wall Street Journal material online is subscription-only. I was prepared to make an exception for today’s major WSJ story on the “Top Small Workplaces 2007,” because of its excellent content.
However, I was delighted to find that it is in fact available online.

The WSJ’s discussion of the 15 companies winning the “Top Small Workplaces” title is a must-read for owners, executives, and HR folks in businesses of all sizes.

The highlighted employment practices of these companies read like a list of job characteristics desired by the Millennial Generation (though I say all generations like and benefit from work offering such features and benefits):

These small businesses tend to let employees at all levels make key decisions, and they groom their future leaders from within. They offer generous traditional and untraditional benefits (how about a six-week sabbatical?). And they constantly hunt for new ways to improve the employee experience or engage employees.

This year’s top small workplaces offer good benefits, focus on employee growth and create family-like atmospheres. . . .

And many share a sizable slice of their profits with employees, teaching them to read company financial statements so they grasp how their job is connected to the success of the organization.

Sound good? There’s more . . . (quoting from descriptions of various of the 15 winners):

Employees own 100% of the company, but not through an employee stock ownership plan (ESOP), like many small companies offer. They buy their shares directly, through an annual stock offering open to employees only. The advantage of direct ownership is that employees get shareholder voting power, whereas with ESOPs the trustee controls.
“Junior people have a lot of opportunities to influence some really significant activities at our firm. . . . And all employees are given one area to oversee, whether it’s employee training or database maintenance. Every employee attends company strategy meetings, and is expected to actively participate.”
Training isn’t just about teaching employees to perform their current jobs better, but also about preparing them to get a better job within the company. “Every new employee is required to take orientation courses on company culture and reading corporate financial statements. But training is a continuing process, where employees are often asked to push themselves to new levels — in terms of both their knowledge and their interpersonal skills.”
“A big part of the company’s strategy is giving employees many chances to have fun together and participate both at work and in their free time. It hosts an annual summer picnic for employees and their families, a trip to a Kentucky horse-racing track, a yearly anniversary party and a Christmas party for families, along with some sporting events. Every other Friday evening, the company hosts hourlong ‘wing-dings,’ social gatherings at the office with food and drink.”
A moving “company seeks out people who are especially energized about working in the moving industry — often college athletes who want a job that keeps them fit. Each . . . employee is given a free gym membership or a stipend to spend on membership.”