We recently compiled a list of the 25 Best Companies to Work for in the World and in this article we will look at the Best Company to Work for in the World.
Organizational Culture and Global Employee Engagement
According to a report by Gallup, in 2023, global employee engagement stagnated whereas overall employee well-being declined to near-record highs and the majority of the world’s employees continue to face challenges at work and in life which is directly impacting organizational productivity. It is estimated that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP.
Western European countries have some of the world’s strongest labor laws but the lowest employee engagement. The United States Scores 63.5 on the Labour Rights Index and has lower labor protection laws but much higher employee engagement at 33%. This might suggest an inverse relation between strong labor protections and employee engagement. However, the data indicates that among countries with similar levels of labor protections, the employee work experience varies significantly. For instance, Norway, Denmark, and Sweden have a Labour Rights Index score of 88, 91.5, and 92 respectively, and have average employee engagement, with 21%, 21%, and 23% of employee engagement respectively. Germany, France, and the United Kingdom also have strong labor laws and have a score of 89, 92, and 88 respectively on the Labour Rights Index but have a below-average engagement at 15%, 7%, and 10% of employee engagement respectively.
Organizational culture within any country also plays a vital role in employee engagement and creates a supportive and motivating work environment that aligns employees with company goals. Companies that build strong cultures and focus on engaging manager-employee relationships, integrating engagement into all stages of the employee experience, and emphasizing overall well-being are more likely to have higher engagement rates.
Best Company to Work
The Home Depot, Inc. (NYSE:HD) is renowned not only for its valuable brand, huge scale of operations, and financial fortitude but also for its exceptional employee engagement and supportive work environments, which prioritize employee development, well-being, and a strong organizational culture, making them highly desirable employers and major contributors to economic growth and productivity.
The Home Depot, Inc. (NYSE:HD) engages in the home improvement industry. The Home Depot, Inc. (NYSE:HD) sells building materials and home improvement products including building materials, lawn and garden products, and decor. The domestic home improvement industry is worth $950 billion as of 2024, of which The Home Depot, Inc. (NYSE:HD) holds a 16% market share. The company also offers home improvement installation services and tools rental services. The Home Depot, Inc. (NYSE:HD) has more than 2,000 stores in the United States and 90% of the population lives within 10 miles radius of a Home Depot store. Overall the company has 2,300 stores across North America. A rising home improvement market has led to the growth of The Home Depot, Inc. (NYSE:HD) and its net income has doubled in the last decade.
On June 18, The Home Depot, Inc. (NYSE:HD) announced its acquisition of SRS Distribution, Inc. for $18.25 billion, which is one of the largest network of distributor brands in the United States. SRS Distribution, Inc. operates in 47 states, with more than 43 distributor brands, over 760 locations, and over 4,000 trucks. This acquisition raised The Home Depot, Inc.’s (NYSE:HD) total addressable market to about $1 trillion, an increase of approximately $50 billion. The integration will enhance The Home Depot, Inc.’s (NYSE:HD) growth with residential and professional clients. Commenting on the event, Ted Decker, President and CEO of The Home Depot, Inc. (NYSE:HD) said:
“SRS is an excellent fit for The Home Depot – it’s both complementary and additive to our growth. Their ability to quickly build leadership positions in each of their specialty trade verticals is a testament to the team’s strong vision, leadership, culture and execution. SRS’s outstanding customer service, capabilities, and expertise will help us drive value for our customers, associates and shareholders, and we’re excited to welcome the SRS team to The Home Depot.”
On April 09, The Association of National Advertisers (ANA) and the Alliance for Inclusive and Multicultural Marketing (AIMM) awarded The Home Depot, Inc. (NYSE:HD) the #1 position on their list of Most Culturally Inclusive Brands of 2023. These awards are based on extensive research conducted in partnership with the Cultural Inclusion Accelerator (CIA), a market research firm that helps companies recognize the value of diversity, equity, and inclusion in marketing campaigns. The methodology assesses the cultural impact, effectiveness, and relevancy of a brand’s advertising materials to promote inclusive communication. Scores for cultural relevancy were aggregated into an overall ranking across various segments: Asian, Black, Hispanic (English & Spanish), LGBTQ+, Persons with Disabilities, Multicultural & Inclusive, and the Overall Population. After gathering over 280,000 consumer evaluations from these groups, The Home Depot emerged as the most culturally inclusive brand.
It is clear that a supportive and motivating work environment is important and companies that prioritize strong managerial relationships, integrate engagement into every aspect of their operations, and emphasize employee well-being are more likely to see positive outcomes in both employee satisfaction and overall productivity. With that in context let’s look at the best company to work for in the world.
Home decor
Our Methodology
To compile our list of the 25 best companies to work for in the world, we consulted more than 10 rankings on the internet and compiled a list of 150 companies. Then we checked the average ratings and number of reviews of all the companies on Glassdoor. We also checked the total number of employees of companies from official statements by the company or from major media reports subject to the availability of data. It is to be noted that we only included companies with over 25,000 employees and 7,000 reviews with an average employee rating of at least 4.0. Our list ranks the 25 best companies to work for in the world in ascending order of their average rating, number of reviews, and estimated number of employees.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
The Best Company to Work for in the World
1. The Home Depot, Inc. (NYSE:HD)
Average Rating: 4.5
Number of Reviews: 51,701
Estimated Number of Employees: 475,000
The Home Depot, Inc. (NYSE:HD) is the largest home improvement retailer in the United States and employs approximately 475,000 people. The company has 51,701 reviews on Glassdoor and has an average rating of 4.5 stars. The Home Depot, Inc. (NYSE:HD) is known for its extensive range of home improvement products and services which cater to both DIY enthusiasts and professional contractors. The Home Depot, Inc. (NYSE:HD) ranks the highest on our list of best companies to work for in the world.
Curious to learn about other best companies to work for in the world? Check out our report on the 25 Best Companies to Work for in the World.
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Disclosure: None. This article is originally published on Insider Monkey.
