Major corporations like Forbes frequently release lists of the best companies based on salary, benefits, turnover and other criteria. Making such a list on your own will give you an idea of whether or not the companies you are considering working for are a good fit for you. Before you can do this evaluation, you need a set of criteria upon which you will base your company analysis.
Profit and Revenue
A company's revenue reflects its sales and planning; it is the amount of money a company makes before it handles operating costs. The company's profit is the amount of money left after it handles operating costs. A new company might put all of its revenue back into operating costs, leaving no profit. Similarly, a company might have huge profits even with modest revenue because they pay workers poorly in order to offer good merchandise prices. Walmart is a well-known company has been scrutinized for terrific profit and less-than-optimal employee compensation. As a potential employee, look at the revenue and profit to determine the company's potential to provide a lasting career, but also investigate how employee salaries and benefits figure into the equation to determine whether the company is right for you.
When a company is innovative, it can adjust to the needs of the consumer as time passes and respond to developments of competing companies. An innovative company typically approaches the market from many different angles and uses multiple techniques to develop products or services. This is crucial because a company is very unlikely to have any staying power if it can't adapt to the market. Innovation translates into job stability over the long term.
Quality of Management
Managers have much control over everything you do during your workday, and they contribute to company growth and atmosphere. Look at whether corporate executives respond to employee complaints, how they typically handle work-related conflicts and deficiencies and whether they are driven by a particular code of ethics. Also investigate whether the management supports personal and career development. The companies commonly considered best by national rating systems offer employees the ability to balance work and personal lives.
Ultimately, your personal needs determine what you include as criteria for your best companies list. If you're a stay-at-home mom trying to make ends meet, you'll want to look at companies that give you the ability to telecommute and offer schedule flexibility. Your personality is included in needs. If you like routine and familiarity, then you probably won't be happy at a company that requires a lot of socialization and travel. If you like to be creative, then your best companies will include those that encourage personal projects and independent thinking and delegate leadership roles.
Some surveys that determine the top companies to work for measure only one criterion, such as salary, or limited criteria, such as general money data. Because of this, objectivity gets lost. Evaluating companies based on criteria you choose for yourself is the best way to determine your ideal work situation.
- Photo Credit moodboard/moodboard/Getty Images
- History of the Fortune 500
- What Are the Fortune 1000 Companies?
- Employee Evaluation Criteria
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