What are the Benefits associated with becoming a best place to work at a local or national level?
Decades of research demonstrates a positive correlation between progressive people practices and increased financial performance. For instance, publicly held companies on Fortune magazine’s “100 Best Companies to Work For” list historically have far outperformed the stock market averages over recorded three, five and 10 year periods. The same correlation can be found among local “Best Places to Work” companies when comparing their performance to the S&P 500. The Phoenix public companies showed a return of almost double the S&P 12 month return. Some specific areas of improved financial performance that firms with better workplace practices can typically expect are: • Lower turnover costs. Companies on “best lists” typically experience lower turnover rates that are about one-half that of their industries. • Ability to attract and retain higher quality candidates. • Lower costs associated with the negative aspects of bad workplaces – better attendance, lower medical costs resulting from s
