Friday, 06 November 2009
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Dream Jobs Alert: Top Companies with a Record of Absolutely ZERO Layoffs!
During times of economic hardship, many companies seek to curb losses by reducing staff. However, there are a select few that have stuck with their employees and sought other ways to contain costs.
In a recession induced drought of jobs with employment closing in double digits, the following companies have been an oasis to their employees with great job security and benefits.Here are nine companies on Fortune magazine's 100 Best Companies to Work For list for 2009 that have never undergone layoffs - ever.
1. Nugget Market
2. Devon Energy
3. Aflac
4. QuikTrip
5. The Container Store
6. NuStar Energy
7. Stew Leonard's
8. Scottrade
9. Publix Super Markets
Here's how they were able to do it:
1. Nugget Market
Careful job placement and shrewd labor management. Instead of laying off workers, the 81-year-old grocery store refrains from replacing employees who leave. Its stores are 15 miles from each other, making it easier to fill positions, and employees are trained to fit various roles.
Store directors make an average of $116,440 in annual salary, and checkers, the most common hourly workers, earn $34,490. The store also offers 100% health care coverage.
2. Devon Energy
The company, which cut its operating budget before the recession, withholds raises in bad years but gives midyear pay increases in good times.
Takes a conservative approach to its finances, yet still treats its employees well- it started a 401(k) retirement plan featuring company contributions of 11-22%.
3. Aflac
Keeps its eyes on its budget and ears open to employees. Employee suggestions like telecommuting and flex schedules have saved it millions of dollars.
Other company benefits include an onsite fitness center, subsidized gym membership and the largest onsite corporate child care center in Georgia.
4. QuikTrip
Smart financial management has helped it thrive in the downturn. It offered over new 1,400 jobs last year.
Wages and benefits are so good that over 200 employees have stayed with the company more than 20 years.
5. The Container Store
The storage retailer, based in Coppell, Texas, froze salaries and watched spending.
6. NuStar Energy
Considering layoffs harmful to company productivity, NuStar management avoids them like the plague.
The San Antonio-based pipeline and refinery operator also offers bonuses that can exceed $10,000 and 100% 401(k) matches for up to 6% of pay.
7. Stew Leonard's
This privately-held grocery chain focuses on customer service and long-term sales rather than short-term earnings. CEO Stew Leonard Jr. says selling groceries is a stable business, which helps avoid layoffs. No matter how the economy is faring, people still have to eat.
8. Scottrade
This privately-held online discount brokerage has cut bonuses instead of cutting employees, and also has a conservative growth strategy.
9. Publix Super Markets
A strong balance sheet with no debt helped this grocery chain acquire 49 stores and hire over 1,250 people last year. In its 79 years, it has never had layoffs. No wonder - it's entirely owned by employees.
Information Source: Link
Is job security important to you? How does your company or companies you're interested in compare to these?
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Comments (4)
In economic time like this, it's certainly comforting to learn about companies like these which stand strong, place great importance in long term outlooks, or actually exemplify good management overall. They also sound like good investment prospects, given they are traded in public market. I like them!
Job security is certainly important to me; however, it's also imperative to know what I want to get out of the job, know my priorities, constantly educate myself and be aware of the job markets.
Hmmm... interesting list. I haven't heard some of these companies before. Job security is important to me, but I also find it important that the organization I choose to work at has management/leadership opportunities, leadership that I admire and respect, makes positive changes for the public, gives a sense of purpose, and gives a sense of accomplishment.
interesting! i havent heard of those companies before..
@jsh822 - That's a good point- companies that are holistic in their approach to management and not just hoarding benefits and security at the top will generate more employee loyalty and motivation which should equate to higher productivity and higher quality products- which should map out to better business and corresponding stock value.
@jsh822 - @ladyofthesilk - Agreed that job security is one of several things important for long term job satisfaction....but during times like these, it gets special weighting. =)
@nomilktoday - I'm only familiar with three of them. I think you might know Aflac- that's the company with talking duck that always yells out "AFLACK!" =)