Smucker Again Among 100 Best Companies to Work For
The J.M. Smucker Co. (Orrville, OH) has been named one of the 100 best companies to work for in the U.S., according to Fortune Magazine's third annual survey. Smucker, which was ranked 22nd this year, has made the list each year since Fortune began the survey in 1997. The company was also ranked 22nd in 1998 and 1997.
Fortune's 1999 rankings are based on a number of factors including employee turnover rate, job growth, and employee training. Fortune also noted the goodwill gesture Smucker made for it's 100th anniversary in 1997—a pancake breakfast for the entire town of Orrville, the location where the company was founded and where its headquarters are still located.
"It's a great honor to be recognized by Fortune as one of the country's best companies to work for," said Timothy Smucker, chairman of The J.M. Smucker Co. "Our great-grandfather Jerome Smucker founded this company over 100 years ago and many of the same basic beliefs and ideals instilled in the company back then are still practiced today. One of those beliefs is in the value of people, and we owe a great deal of our success to our employees' dedication to the company. It is truly our people who make this company a great place to work."
Other food industry companies ranked by Fortune include Whole Foods Market (Austin, TX) at No. 72. Although the company dropped from 48th in the 1998 rankings, it is still singled out for its strongly egalitarian corporate culture. Not only is the CEO's salary capped at 10 times the average store worker's, but employees can see anybody's gross pay. The company settles grievances using panels of non-management employees.
At No. 88 is Seattle-based coffee giant, Starbucks. Like Whole Foods, Starbucks dropped down from 55th in the 1998 ranking. Helping it stand out, however, is its policy of giving all employees—from the part-time latte maker to the CEO—the same benefits package, including health insurance and stock options.
Coming in at 90th is General Mills (Minneapolis). The company offers 60 hours per year of professional training for each employee. In addition to two rounds of stock options, GM employees also receive 11 paid holidays, domestic-partner benefits, and many on-site conveniences, including car service.
The "100 Best Companies to Work For" article is in the January 10, 2000 issue of Fortune.
Edited by Scott Hegenbart