The Covid-19 pandemic triggered an historic wave of layoffs that has forced companies to rethink not only where they work, but how they can improve the employee experience.
According to a new study by LinkedIn, some companies have weathered these seismic changes to perform better than others.
On Wednesday, the networking platform released its annual list of the top companies, which ranks the top 50 places in the US for professionals to advance their careers. Amazon ranks #1 on the list, followed by Alphabet (Google’s parent company) and Wells Fargo.
According to LinkedIn, here are the 10 best companies to work for in 2022:
1.Amazon
Headquarters: Seattle, Washington
Industry: technology
CEO: Andy Jassi
2. Alphabet
Headquarters: Mountain View, California
Industry: technology
CEO: Sundar Pichai
3. Fountain Fargo
Headquarters: San Francisco, California
Industry: banking
CEO: Charles W. Sharp
4. JPMorgan Chase & Co.
Headquarters: New-York, New-York
Industry: banking
CEO: Jamie Dimon
5. Walmart
Headquarters: Bentonville, Arkansas
Industry: retail trade
CEO: Doug McMillon
6.IBM
Headquarters: Armonk, New York
Industry: technology
CEO: Arvind Krishna
7.AT&T
Headquarters: Dallas, Texas
Industry: telecommunications
CEO: John T Stankey
8. Bank of America
Headquarters: Charlotte, North Carolina
Industry: banking
CEO: Brian Moynihan
9. Apple
Headquarters: Cupertino, California
Industry: technology
CEO: Tim cook
10.Comcast
Headquarters: Philadelphia, Pennsylvania
Industry: telecommunications, entertainment
CEO: Brian L Roberts
For the report, LinkedIn searched millions of employee profiles and company insights submitted to the platform between January and December 2021. The researchers focused on companies with 500 or more employees and rated each organization on seven factors:
- Ascension Ability: the frequency and speed with which employees are promoted
- Competence development: how employees acquire new skills after hiring
- Company Stability: turnover and employee retention
- External Opportunity: how often recruiters from other companies search for and contact employees
- Company affiliation: how many employees are connected on LinkedIn
- gender diversity: Gender parity within a company and its subsidiaries
- Educational background: the different educational levels of the employees
Amazon maintained its #1 spot this year after making “significant investments” to improve employee wellbeing and support their upskilling, Dan Roth, editor-in-chief and vice president at LinkedIn, told CNBC Make It.
“The thing we measure on this list is ‘do that [company] help you grow in your career? and Amazon is absolutely number one for it according to all our data,” he adds.
In the past 12 months, the e-commerce company has more than doubled the maximum base salary for company employees, introduced new mental health benefits, and announced that it will cover 100% of tuition for hourly workers, to name just a few.
However, it’s important to note that Amazon has faced a barrage of criticism for its treatment of warehouse workers during the Covid-19 pandemic and for promoting a brutal work culture. Just last week, Amazon workers at a Staten Island warehouse voted to unionize, becoming the first group at a US facility of the tech giant to do so. Amazon did not immediately respond to CNBC Make It’s request for comment.
Amazon CEO Andy Jassy previously acknowledged during the GeekWire summit in Seattle in October that the company could improve the way it treats employees. “I think when you have a big group of people like us — we have 1.2 million employees — it’s almost like a small country,” he said. “There are many things that could be done better.”
There are three elements that set the top companies apart from their competition: offering flexible work arrangements, extensive professional development opportunities (apprenticeship job rotation, mentoring), and robust mental health services (free counseling, additional paid time off), Roth adds.
Disclosure: Comcast owns NBCUniversal, CNBC’s parent company.
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