Why the Honor Roll
Center for Companies That Care channels the power of business to address tenacious social issues. By doing so, we improve the lives of individuals, families, and communities and ensure social responsibility. The Companies That Care Honor Roll fulfills the recognition aspect of our mission and publicly spotlights and celebrates all Companies That Care, especially employers working to positively affect education and workforce development/diversity. There is no limit to the number of companies that can be on the Honor Roll; all organizations that meet the standards of a Company That Cares will be listed on the annual Honor Roll.
Benefits of Being on the Honor Roll
Inclusion on the Honor Roll fosters a favorable public image, which increases employees' pride in their organization. Despite the current economic situation, top performers are still in demand and have a choice of where to work. Employees prefer working for companies that provide a supportive work environment and have a social conscience. Achieving Honor Roll status conveys a commitment to social responsibility.
Employers named to the Companies That Care Honor Roll will be recognized as leading, caring companies. When you are selected your organization will:
- Be listed on the Honor Roll on the Center for Companies That Care website
- Be invited to participate in an Honor Roll/Companies That Care Day recognition event
- Receive a news release template to communicate your achievement to local media
- Be invited to participate in Companies That Care events
- Have an opportunity to mentor other companies who want to learn from your organization
- Become part of a like-minded employer group with which you can network
- Receive artwork for use in communicating your achievement to your stakeholders
Organizations are invited to join the Community of Caring to receive not only the above benefits but also many more, including additional visibility and recognition, leadership and governance opportunities, and valuable resources such as the Companies That Care employee engagement survey and best practices research.
Why be on a list?
The short answer is: Value...Value to the organization, to the employee, to the customer, to the investor.
Research documented in an article in the May 2003 issue of Workforce Magazine, written by Joanne Cleaver, gives many reasons why getting on a "Best of" list pays off for a company. Recognition is always appreciated, but it doesn't stop there:
- Ranking on a sought-after list serves as a compelling attraction tool among recruits, employees, investors, and customers
- Once a company is established as a "best" employer, employee expectations continue to rise. The challenge to maintain or even move up on the list can motivate both employee and employer to continue to live up to and improve upon this outstanding reputation
Even though the article reference above is now over 10 years old, it is still relevant
A recent study from Cornell University provides hard data to back up the positive effects of being on a "best" list:
Companies on the Working Mother 100 Best Companies for Working Mothers were analyzed and it was found that companies on the list are worth 3 to 6 percent more than peers that aren't. The conclusion of this study by Daniel Simon, assistant professor with the Department of Applied Economics and Management at Cornell, is that companies that offer work/life benefits deemed significant enough to earn a ranking on the Working Mother list are worth $12,000 more per employee than peers who do not offer these valuable employee programs.
Often, tremendous media attention is bestowed upon list winners, all at no cost to the individual company.
Increasing customer confidence:
Salespeople, customers, and clients consider list status when scrutinizing potential suppliers and vendors, especially before signing long-term contracts. Recognition on a list provides a proverbial "stamp of approval" which, in turn, increases confidence in a potential vendor.
Raising the bar:
In organizations, reform-minded human resources staffers are pushing for updated practices and policies. Once a company is on one of these it can be embarrassing to "fall off." Inclusion one year does not guarantee inclusion the next. Each edition of a list starts with a clean slate and a company has to prove its case all over again. The bar is always getting higher and the most successful companies see this as a positive way to grow.
The value of ranking well on a prestigious list resonates strongly with current and potential employees. Current employees take pride in being part of a recognized organization and are committed to its success. Employment candidates pursue recognized employers. As a result, the turnover and recruitment costs are often less for companies on a "best" list.
Managers feel a stronger sense of commitment to the policies and practices that were cited in the award. They realize they are the ones responsible for maintaining what has been officially recognized as an excellent place to work.
One thing is certain, when a company is acknowledged as a great company, everyone wins.