Wegmans Ranks #3 on FORTUNE magazine's list of '100 Best Companies to Work For'
For Release:
01/23/2008
Contact Information:
Contact: Jo Natale, Director of Media Relations 585-429-3627
ROCHESTER, NY - FORTUNE announced today that Wegmans Food Markets, Inc. has been ranked #3 on the 11
th annual “100 Best Companies to Work For” list. Wegmans has appeared on FORTUNE’s list every year since it was first published in 1998 and has ranked among the top 10 for six consecutive years. The full list and related stories appear in the February 4 issue of FORTUNE, available on newsstands January 28 and at
www.fortune.com on January 22.
“Every one of our employees and our customers should stand up and take a bow, because together they make Wegmans a special place,” says CEO Danny Wegman. Whenever I’m in one of our stores, customers stop to tell me how much they appreciate our employees. You can imagine how great that makes our people feel and why they enjoy coming to work everyday.”
A driving factor for the list this year, according to FORTUNE, is that the companies excel in creating jobs. The 100 companies on the 2008 list added 67,000 employees to their payrolls in the past year and employ a total of nearly 1.6 million employees; up 16% from the number employed by companies comprising last year’s list. Wegmans is no exception. By the end of 2007, Wegmans employed 37,602, an increase of 5.6% over the previous year.
About the List
To pick the “100 Best Companies to Work for”, FORTUNE works with Robert Levering and Milton Moskowitz of the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. Of some 1,500 firms that were contacted, 406 companies participated in this year’s survey. Nearly 100,000 employees at those companies responded to a 57-question survey created by the Great Place to Work Institute, a global research and consulting firm with offices in 30 countries.
Most of the company’s score (two-thirds) is based on the results of the survey, which is sent to a minimum of 400 randomly selected employees from each company. The survey asks questions related to their attitudes about the management’s credibility, job satisfaction and camaraderie. The other third of the scoring is based on the company’s responses to the Institute’s Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communications, training, recognition programs and diversity efforts, etc.
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Wegmans Food Markets, Inc. is a 76-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, and Maryland. The family-owned company, founded in 1916, is recognized as an industry leader and innovator. Wegmans has been named one of the ‘100 Best Companies to Work For’ by FORTUNE magazine for thirteen consecutive years. In 2010, Wegmans ranked #3 on the list.
