Oakland, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Creating a workplace that employees trust to be fair and equitable is incredibly hard. In a 2023 Great Place To Work® market survey of 4,400 U.S. workers:
- Only 36% of employees say they receive a fair share of company profits
- Only 51% say promotions are fairly awarded
- Only 45% say their manager avoids picking favorites
For the 2023 Fortune Best Small and Medium Workplaces™, that changes:
- 86% of employees say they receive a fair share of company profits
- 93% say promotions are fairly awarded
- 91% say managers avoid playing favorites
Great Place To Work produced this year’s lists by analyzing 242,000 individual survey responses from eligible companies using its proprietary platform. Small workplaces were those that have between 10 and 99 employees working in the U.S. and medium workplaces have between 100 and 999 U.S. employees.
“When employees believe the workplace is fair, they put their trust in leaders and in the organization,” says Michael C. Bush, CEO of Great Place To Work. “Workers want to know that they will receive fair compensation for their work, be treated justly and impartially when considered for promotions, and given equal opportunities for growth.”
When employees believe people are paid fairly for their work, they are 36% more likely to say people give extra effort at their company. When they believe profits are shared fairly, they are 28% more likely to say people give extra effort.
For employees, when they report receiving a fair share of the profits, they are 2.8 times more likely to experience well-being (as defined by a 2022 study by Johns Hopkins University and Great Place To Work.)
“Fairness might sound like a fuzzy concept, but its presence or absence has real consequences for business performance,” says Bush. “When you crunch the data, employees who believe their workplace is fair are having a superior experience and delivering superior results compared to their industry peers.”
Winning companies
Here are the companies at the top of the Best Medium Workplaces List:
1. PeopleTec, Inc.
2. Roth Staffing Companies, L.P.
3. Jobot
4. Invoca
5. Cribl
Here are the companies atop the Best Small Workplaces List:
1. Launch Potato
2. Mission Wealth
3. CodeSignal
4. Pinger, Inc.
5. Tagboard
How to increase fairness
Here are the top ways to ensure your employees believe their workplace is fair:
1. Clear and transparent communication around pay.
2. Open and inclusive pathways for promotion.
3. Recognition of all employees, regardless of role.
Visuals available: Fortune Best Small and Medium Workplaces
About the Fortune Best Medium Workplaces List
Great Place To Work selected the 2023 FortuneBest Medium Workplaces™ List by surveying companies employing 7.5 million people in the U.S., with 1.3 million confidential responses received. Of those, more than 210,000 responses were from employees at companies eligible for the Best Medium Workplaces list and this ranking is based on that feedback. Company scores are derived from 60 employee experience questions within the Great Place To Work Trust Index™ Survey. Read the full methodology.
About the Fortune Best Small Workplaces List
Great Place To Work selected the 2023 FortuneBest Small Workplaces™ List by surveying companies employing 7.5 million people in the U.S., with 1.3 million confidential responses received. Of those, more than 32,000 responses were from employees at companies eligible for the Best Small Workplaces list and this ranking is based on that feedback. Company scores are derived from 60 employee experience questions within the Great Place To Work Trust Index™ Survey. Read the full methodology.
About Great Place To Work
As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.
Follow Great Place To Work on LinkedIn, Twitter, and Instagram or visit greatplacetowork.com and sign up for the newsletter to learn more.
Attachments
- The Best Small and Medium Workplaces Score Higher on Fairness
- When Employees say Their Workplace Is Fair, They Give Extra Effort
