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Wegmans Celebrates 10 Years on FORTUNE Magazine's List of
'100 Best Companies to Work For'
In January ‘07, FORTUNE announced that Wegmans is #3 on the magazine's 10th annual '100 Best Companies to Work For' list. The complete list and related stories appears in the January 22 issue of FORTUNE, available at www.fortune.com.
"People tell us they like shopping at Wegmans because our employees are happy, and that makes them happy," says CEO Danny Wegman. "We have always believed that in order to be a great place to shop, we must first be a great place to work."
Competition to get on the list has intensified over the years. This year 446 companies vied for a slot, up from 161 in 1998, when the list first began.
"The 100 Best Companies to Work For" list is compiled for FORTUNE by Robert Levering and Milton Moskowitz of the Great Place to Work Institute in San Francisco, based on two criteria: an evaluation of the policies and culture of each company, and the opinions of the company's employees. The latter is given more weight; two-thirds of the total score comes from employee responses to a 57-question survey which goes to a minimum of 400 randomly selected employees from each company.
More than 100,000 employees from 446 companies participated in the survey this year, making this by far the largest simultaneous employee survey in corporate America. The survey asks about things such as attitudes towards management, job satisfaction, and camaraderie within the organization.
The remaining one-third of the score is based on an evaluation of each company's demographic makeup, pay and benefits programs and culture. Companies are scored in four areas: credibility (communication to employees), respect (opportunities and benefits), fairness (compensation, diversity), and pride/camaraderie (philanthropy, celebrations).
Wegmans Food Markets, Inc. is a 71-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 ten consecutive years, ranking #1 in 2005. In 2007, Wegmans ranked #3 on FORTUNE's list.
Home of Consistently Happy Workers
Wegmans Ranks No.3 on List of Best Places to Work;
Its 10th Year of Making Magazine's Top 100 Ranking
The Post-Standard Tuesday, January 9, 2007
EDITION: Final SECTION: Business PAGE: C1 LENGTH:
BYLINE: By Bob Niedt Staff writer
Wegmans makes it 10 for 10 in the Top 100.
Wegmans Food Markets Inc., based in Rochester, landed near the top of Fortune magazine's "100 Best Companies to Work For" list, the 10th-straight year - and the most competitive - the company has made the cut.
Wegmans is No. 3 on the 10th annual list. The 71-store supermarket chain ranked No. 1 in 2005 and No. 2 in 2006. Another magazine, Consumer Reports, a year ago put Wegmans at No. 1 in a poll of readers about U.S. businesses that sell groceries.
This year, 446 companies entered the competition to be in the Top 100, compared to 161 in 1998, when the poll was launched. With more than 33,000 employees, Wegmans was the highest-ranked of the "large" companies on the list.
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