In this article, we will look at the 20 best companies to work for in 2023. If you want to skip our in-depth analysis, head straight to the 5 Best Companies to Work for in 2023.
As we step into 2023, the adage “people are a company’s greatest asset” has never rung truer. The competitive edge now hinges on more than just profit margins and market share; it rests firmly on a company’s ability to foster an environment where innovation thrives, where diversity is celebrated, and where employees find not just a job, but a genuine sense of purpose. Let’s explore what are the current trends driving employment around the world.
Employment Trends in 2023 and the Key Players
Remote and hybrid work have become undeniable trends that are reshaping the modern workforce. In 2023, 12.7% of full-time employees already work remotely, and 28.2% have embraced a hybrid work model that indicates the rapid evolution of work environments. Looking ahead, it’s predicted that by 2025, about 32.6 million Americans, equivalent to 22% of the workforce, will be working remotely.
These trends are driven by strong employee preferences as 98% of workers express a desire to work remotely at least some of the time, all thanks to the flexibility, autonomy, and improved work-life balance that remote work offers. Moreover, 93% of employers plan to continue conducting job interviews remotely. Remote and hybrid work have become integral to the modern work landscape, and their growth is expected to continue as both employees and employers recognize the benefits of these models. Speaking of remote work, do check out our article on best work from home jobs for 2023.
It is also worth noting that remote work equally benefits employers by reducing overhead costs associated with office space and utilities and hence, increasing access to a global talent pool, and boost employee productivity and job satisfaction. It can lead to lower employee turnover rates and the ability to tap into specialized skills from anywhere, ultimately resulting in cost savings and a more diverse, efficient, and agile workforce.
Adobe Inc (NASDAQ:ADBE)’s Chief People Officer, Gloria Chen recently mentioned:
“While we believe in the value of in-person interactions, we know that in some cases, a remote work arrangement makes sense for Adobe. We expect to double the size of our remote worker population over time as we learn and iterate on making this model successful.”
Moreover, Adobe Inc (NASDAQ:ADBE)’s employees were also the happiest employees as they felt most satisfied with their pay, according to Comparably’s sixth annual report based on employee reviews.
Another employment trend for 2023 is that organizations will drive DEI forward with growing pushback. To achieve the DEI goals, Johnson & Johnson (NYSE:JNJ) has established 12 Employee Resource Groups (ERGs), which serve as platforms for employees to connect, engage, and unleash their potential. These ERGs also play a pivotal role in cultivating relationship capital and cultivating an inclusive environment and culture within the company.
In terms of specific diversity goals, Johnson & Johnson (NYSE:JNJ) has set ambitious targets. By 2025, the company aims to have 50% women in management positions worldwide that highlight its commitment to gender diversity. Additionally, in the United States, Johnson & Johnson (NYSE:JNJ) is striving for 35% racial diversity in management roles.
Johnson & Johnson (NYSE:JNJ)’s dedication to diversity and inclusion has also garnered recognition and accolades from various quarters. For example, it has been acknowledged by U.S. Veterans Magazine as the “Best of the Best” for its strides in advancing diversity efforts. Additionally, the company stands out as one of only two organizations that have consistently been included in the Working Mother 100 Best list for the past 28 years.
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Our Methodology
We have looked at different surveys and indexes employed for the best companies to work for including Fortune’s 100 Best Companies to Work For, Glassdoor’s best places to work 2023, and Reddit. After extensive research, we devised our own scores using different indicators.
Thus, the ranking of best companies to work for in 2023 is based on the following indicators: employee satisfaction, growth potential and salary packages. Each indicator was assigned a score from 1 to 10. The total score was determined by adding up the scores for all indicators. Hence, higher scores indicated higher rankings.
Note that professions with higher employee satisfaction were prioritized in the case of tied scores. In cases where the employee satisfaction score was also similar, salary package scores are prioritized. The list is subjective and ranked in ascending order.
Here is the list of best companies to work for in 2023
20. UnitedHealth Group Inc (NYSE:UNH)
Employee Satisfaction:9
Growth Potential: 5
Salary Packages: 5
Total Score: 19
UnitedHealth Group Inc (NYSE:UNH) offers comprehensive employee benefits, including an average annual salary of $85,829, according to Payscale. These benefits encompass health and wellness resources, financial support, and retirement plans etc. The company prioritizes diversity and inclusion in its workforce, providing equal employment opportunities and emphasizing a drug-free workplace. UnitedHealth Group Inc (NYSE:UNH) owns some of the best for-profit hospitals in the US.
19. SAP SE (NYSE:SAP)
Employee Satisfaction: 6
Growth Potential: 9
Salary Packages: 5
Total Score: 20
SAP SE (NYSE:SAP) is among the top companies to work for in 2023 due to its inclusive culture, competitive compensation, flexible work options, extensive employee benefits, and commitment to personal and professional growth. SAP SE (NYSE:SAP) is also one of the biggest Internet of Things companies in the world.
18. Dell Technologies Inc (NYSE:DEL)
Employee Satisfaction: 7
Growth Potential: 7
Salary Packages: 6
Total Score: 20
Dell Technologies Inc (NYSE:DEL) employees generally report high job satisfaction and improved productivity stemming from the company’s “Connected Workplace” program, which empowers them to work at their convenience, from any location. This initiative leverages technology to offer increased flexibility for Dell Technologies Inc (NYSE:DEL)’s workforce. It is also one of the largest PC companies in the world.
17. Wegmans Food Markets, Inc
Employee Satisfaction: 6
Growth Potential: 6
Salary Packages: 5
Total Score: 21
Wegmans Food Markets, Inc is beloved by its employees for its empowering culture, with 94% of them proud to work there, thanks to career growth opportunities, a family atmosphere, and over $50 million invested in learning and development annually.
16. McKinsey & Company
Employee Satisfaction: 7
Growth Potential: 8
Salary Packages: 6
Total Score: 21
According to Glassdoor reviews, 86% of employees would recommend working at McKinsey & Company, and 67% of job seekers had a positive interview experience with the company.
15. Wells Fargo & Company (NYSE:WFC)
Employee Satisfaction: 7
Growth Potential: 7
Salary Packages: 8
Total Score: 22
Wells Fargo & Company (NYSE:WFC) receives mixed reviews from employees on Indeed.com, with positive aspects like promoting diversity and career growth, but negative aspects including occasional micromanagement and a stressful work environment.
14. Hilton Worldwide Holdings Inc (NYSE:HLT)
Employee Satisfaction: 9
Growth Potential: 6
Salary Packages: 7
Total Score: 22
Hilton Worldwide Holdings Inc (NYSE:HLT) pays an average salary of $77,871 per year, according to Salary.com. The company offers exceptional benefits to its employees through its “Thrive at Hilton” program that focuses on well-being, recognition, and support. Team Members enjoy discounts on Hilton Worldwide Holdings Inc (NYSE:HLT) stays worldwide, including for family and friends. The “Thrive Sabbatical Program” provides opportunities for personal growth.
13. Bank of America Corp (NYSE:BAC)
Employee Satisfaction: 8
Growth Potential: 8
Salary Packages: 8
Total Score: 24
Bank of America Corp (NYSE:BAC), with over 39,000 reviews on Glassdoor, maintains a 4.0-star rating, showcasing its positive work environment and employee satisfaction. Furthermore, 89% of employees would recommend it to a friend. It is one of the best companies to work for in 2023.
12. Accenture Plc (NYSE:ACN)
Employee Satisfaction: 8
Growth Potential: 7
Salary Packages: 9
Total Score: 24
Accenture Plc (NYSE:ACN) is a global professional services company with a vast workforce across 120 countries and is highly regarded by its employees. A remarkable 80% of them consider it a great place to work, with notable strengths in providing time off, offering responsibility, and maintaining a positive work environment. It is also considered one of the best companies in the world.
11. JP Morgan Chase & Co (NYSE:JPM)
Employee Satisfaction: 9
Growth Potential: 8
Salary Packages: 7
Total Score: 24
JP Morgan Chase & Co (NYSE:JPM) is a globally recognized financial services company renowned for its commitment to corporate responsibility, professional development, and inclusion. The company supports a broad range of employee groups like veterans, people with disabilities, LGBT individuals, working families, Asians, Hispanics, those of African heritage, and women at all career stages.
10. Apple Inc (NASDAQ:AAPL)
Employee Satisfaction: 8
Growth Potential: 8
Salary Packages: 9
Total Score: 25
Apple Inc (NASDAQ:AAPL) prioritizes diversity, inclusion, and personal growth for employees. Their values include accessibility, education, and environmental responsibility. They offer resources, benefits, and a supportive community, making work meaningful for its employees.
9. American Express Company (NYSE:AXP)
Employee Satisfaction: 9
Growth Potential: 9
Salary Packages: 7
Total Score: 25
American Express Company (NYSE:AXP) is a globally integrated payments company recognized as a great workplace with a strong focus on ethics, diversity, and employee well-being. It is one of the best companies to work for in USA.
8. NVIDIA Corp (NASDAQ:NVDIA)
Employee Satisfaction: 9
Growth Potential: 8
Salary Packages: 9
Total Score: 26
NVIDIA Corp (NASDAQ:NVIDIA) offers competitive salaries, benefits, and a plethora of other perks to attract and retain top talent. Some of their noteworthy benefits include the Stanford Health Navigator program, Employee Stock Purchase Plan, and onsite services like laundry and health clinics. NVIDIA CORP (NASDAQ:NVIDIA) is also one of the most prominent Artificial Intelligence companies in USA
7. Meta Platforms Inc (NASDAQ:META)
Employee Satisfaction: 9
Growth Potential: 9
Salary Packages: 9
Total Score: 27
Meta Platforms Inc (NASDAQ:META) stands out as one of the best places to work in 2023 by fostering a culture of innovation that also embraces diversity and inclusion, and empowers employees to shape the future of connectivity. With a focus on personal growth and a mission to connect the world, Meta Platforms Inc (NASDAQ:META) offers a rewarding environment for passionate professionals.
6. Visa, Inc (NYSE:V)
Employee Satisfaction: 7
Growth Potential: 7
Salary Packages: 7
Total Score: 28
Visa Inc (NYSE:V) is an exceptional workplace for several reasons. It offers a global platform for immediate and exponential impact, encourages innovation, empowers employees with continuous learning, promotes work-life balance and tailors benefits to individual needs.
Click here to see the 5 Best Companies to Work for in 2023.
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Disclosure: None. 20 Best Companies to Work for in 2023 is originally published on Insider Monkey.