Newsweek released its list of the 100 "Most Loved Workplaces" in 2022, recognizing 11 companies in the health care, wellness, and pharmaceutical and biotech industries that "have given a voice to all employees and, in return, have been rewarded with increased productivity and performance."

Methodology

For the list, Newsweek partnered with Best Practice Institute (BPI) to survey over 1.4 million employees at companies with anywhere from 50 employees to over 10,000. In addition, they interviewed several hundred company officials.

To gauge how employees feel about their workplace, BPI measured five basic areas, including:

• Collaboration at the company
• Workers' outlook about their future with the company
• How well employer values align with employee values
• Amount of respect at all levels
• Career achievement

In addition, BPI worked with Newsweek editors to consider return-to-office policies; diversity, equity, inclusion, and belonging; and other initiatives.

To determine the 100 "Most Loved Workplaces," companies were assessed and scored on each of the following categories:

• Responses to BPI's proprietary Love of Workplace survey (35%)
• Public ratings from platforms like Comparably, Careerbliss, Glassdoor, Indeed, and Google (25%)
• Interviews and written responses from company officials (40%)

The completed list includes U.S.-based companies and firms with a strong presence in the United States that are based in other countries.

According to Newsweek, the list "pays tribute to companies that put respect, caring and appreciation for their employees at the center of their business model and, in doing so, have earned the loyalty and respect of the people who work for them."

The 'Most Loved Workplaces' in 2022

In total, Newsweek recognized five companies in the health care industry, including two Advisory Board members:

8. ChenMed* (Miami, FL)

19. Southern Veterinary Partners (Birmingham, AL)

60. Nicklaus Children's Health System (Miami, FL)

67. Atrium Health* (Charlotte, NC)

73. Fresenius Medical Care North America (Waltham, MA)

*Denotes an Advisory Board member.

In addition, five companies in the pharmaceutical and biotech industry were recognized, including two Advisory Board members:

21. Schrödinger (New York, NY)

25. Vertex Pharmaceuticals* (Boston, MA)

27. EQRx (Cambridge, MA)

35. Horizon Therapeutics (Dublin, Ireland)

61. Incyte* (Wilmington, DE)

*Denotes an Advisory Board member.

Newsweek also recognized one company from the wellness industry, New York City-based Gympass, which ranked 10th on the list.

Commentary

Covid-related policies remain an important part of employee satisfaction. "To attract and retain employees, employers must continue to offer flexible solutions that meet the needs of their workforce," said Bhushan Sethi, PwC's joint global leader of people and organization.

"Data from (our 2022) Hopes and Fears survey shows that not only do employees expect flexible work options now (62 percent) but 63 percent expect their company to offer that kind of approach in the next year," Sethi said.

Notably, almost half of Gen Z and millennial workers said they would be willing to give up at least 10% of their future earnings for flexibility. "Companies should experiment with their hybrid model and adapt to the changing needs of employees," Sethi added.

While flexibility ranked high on employees' list of priorities in 2022, PwC "found that more than two-thirds of full-time remote workers are concerned about missing out on development opportunities," Sethi said.

In fact, employees said career development plays a big part in their decision to remain with—or leave—a company.

"In the past," BPI CEO Louis Carter explained, "career development was a fairly stringent path companies had the power to control." For example, "[i]f you were identified as a high potential sales employee, employers mapped out a path for you," he added.

Currently, "[e]mployees can identify any area" within a company and "develop in an entirely different function," giving employees more control over their own development, Carter noted.

For example, Fresenius Medical Care North America has an in-house Professional Development Academy that is available to anyone who wants to further their development. So far, over 22,000 employees have taken advantage of the academy.

"The key," Carter added, "is allowing workers to take responsibility for where they would like their career to progress and the company preparing them for that path within the company."

Scott Baxt, BPI's research chief who has evaluated thousands of managers and employees, noted that employees are up to four times more likely to be highly productive if they love their workplace.

"The data is clearer than ever," said Baxt. "Employees want to go home each day and know they contributed, whether in an entry-level position or senior management. The companies on this list highlight how they have given a voice to all employees and, in return, have been rewarded with increased productivity and performance." (Newsweek, "America's Most Loved Workplaces" list, accessed 10/10)