Wegmans Celebrates #5 Ranking on FORTUNE '100 Best Companies to Work For' List
For Release:
01/22/2009
Contact Information: Jo Natale, director of media relations, 585-429-3627
Ann McCarthy, Buffalo division consumer affairs manager, 716-685-8170
Evelyn Carter, Syracuse division consumer affairs manager, 315-546-1110
Rochester, NY – Wegmans Food Markets, Inc. ranks #5 on FORTUNE magazine’s 2009 list of the “100 Best Companies to Work For.” Wegmans has appeared on FORTUNE’s list for
12 consecutive years and has ranked
among the top 10 for seven years running and among the
top 5 for five years in a row. The full list and related stories appear in the February 2 issue of FORTUNE, available on newsstands on Monday, January 26, and now at
www.fortune.com.
“With the challenging economy, being a great place to work is the best way we can take care of our customers,” says CEO Danny Wegman acknowledging the company’s business philosophy, rooted in the belief that if you take care of employees, they will, in turn, take care of customers.
When Wegmans has surveyed its employees to better understand why they like working for the company, the top reasons that emerge are flexibility in scheduling and pride in the company and in their workplace family.
A driving factor for the companies on this year’s list is that they excel at creating jobs. Of the 100 companies on the 2009 list, 73 are currently hiring, including Wegmans. The company will open three new stores in 2009 in Fredericksburg and Leesburg, VA, and in Collegeville, PA. Wegmans has also added jobs when older stores have been replaced with newer stores offering more products and services. For example, in 2008, approximately 150 new positions were added at their new Henrietta store, near Rochester.
In his FORTUNE.com blog, Managing Editor Andy Serwer writes, “No matter what happens with the economy, the demand for talent will remain. Great companies know that super-motivated, happy, world-class employees are an incredible competitive advantage.”
The published list, which includes brief comments about each company, mentions a discounted gift card program that Wegmans offered its employees as a way to help with economic woes in 2008. During an 8-week period last summer and a six-week period at holiday time, employees were able to buy groceries up to $250 each week at a 10% discount, resulting in a maximum savings of $350 for each employee who participated.
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—a global research and consulting firm with offices in 30 countries—to conduct the most extensive employee survey in corporate America.
More than 81,000 employees from 353 companies responded to the 57-question survey created by the Institute. Two-thirds of a company’s score is based on the survey, which is sent to a minimum of 400 randomly selected employees. The remaining third is based on a company’s responses to the Culture Audit questionnaire, which asks detailed questions about demographics, pay and benefits, and open-ended questions on philosophy, communication and more.
Any company that is at least seven years old with more the 1,000 U.S. employees is eligible to be included on the list. The deadline for applying for next year’s list is March 31, 2009. For an online nomination form, go to
www.greatplacetowork-100best.com.
About FORTUNE
FORTUNE is a global leader in business journalism with a worldwide circulation of more than 1 million and a readership of nearly 5 million, with major franchises including the FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live Media extends the brand’s mission into live settings, hosting a wide range of annual conferences, including the FORTUNE Global Forum. FORTUNE magazine’s online home is CNNMONEY.com, the most visited and utilized business destination website.
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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.
