Two factors dramatically reshaped the U.S. workforce over the past several years.
First, employers were forced to lay off millions as the economy floundered due to the coronavirus pandemic. Second, as the economy improved, the labor market tightened. This was due to trillions of dollars in federal stimulus meant to help employers and the unemployed, but many employees quit their jobs at rates so high the period became known as the Great Resignation.
Employees overwhelmingly cited low pay and lack of advancement opportunities for quitting.
Right behind these factors, however, almost two-in-three of the surveyed said they quit because they felt disrespected at work – simply, unhappy.
As these trends reverberated across the economy, Louis Carter’s research became even more validated. Carter became a subject matter expert from his Ivy League graduate studies in social and organizational psychology at Columbia University in New York City and due to a fair share of dysfunctional work culture he’d experienced first-hand. His studies focused on conflict and dissatisfaction in nursing professions.
Carter felt compelled to “create a community of values centered on trusted and independent research and best practice tools, which would improve workplace performance and culture.” He published a number of ‘best practices’ books addressing organizational culture, and founded the Best Practice Institute, the Palm Beach Gardens, Fla.-based leadership development center and think tank.
In his latest book, In Great Company, Carter introduced the research that formed the basis of the Most Loved Workplace, among the world’s preeminent brands in the field of human resources. In partnership with Newsweek and The School of International and Public Affairs at the University of Pittsburgh, the first annual Most Loved Workplace® rankings were published in 2021. Newsweek released 2022’s Most Loved Workplaces list in October.
BPI conducted thorough research to correlate specific management practices to find out what drives employee motivation and happiness. BPI surveyed workers along five basic areas: the level of collaboration; what employees thought about their future at the firm; how much the employer values meet the employee’s values; respect at all levels; and career achievement.
The list took into account other factors: a company’s post-COVID-19 return-to-office rules; workplace diversity, equity and inclusion; plus benefits and compensation. BPI and Most Loved Workplace® altogether surveyed 800,000 employees at a range of companies, from those with less than 50 employees to firms with more than 10,000.
The Newsweek editors and BPI were exhaustive in the analysis that produced the rankings. The scores were based on three criteria: 40 percent came from interviews and written responses from company management, 25 percent came from outside public ratings on sites such as Glassdoor, Indeed and Comparably, and 35 percent was derived from employee survey responses. Newsweek also did its due diligence for every company that made the ranking and the top runners up. The list features U.S. companies and foreign-based firms with a robust U.S. presence.)
“By diving into HR data and benchmarking, we dive into how employees really feel about working for a company,” Carter says of the list. The purpose aligns the psychologic inclinations of job seekers, “giving HR, communications and marketing the ability to analyze that sentiment and feelings, so they can make better informed decisions as to what people programs to invest in.”
Carter’s currently at work on his next book, which will delve into how companies can achieve the Most Loved Workplace status, which is more than a trophy designation – it fully translates to less turnover and increased productivity. Carter also appears on multiple shows and podcasts, where he speaks on leadership, best practices in work culture and HR.
To learn more about the steps it takes to become a certified Most Loved Workplace, or to be considered for the next list, visit www.mostlovedworkplace.com.