Best Companies to Work - Methodology

Introduction to Women’s Choice Award Updated Methodology:

We have modified our methodology for 2022 to address changes in the recruiting environment, much of which was greatly impacted by the pandemic, creating significant and enduring changes in employment market and work/life balance.  These modifications we’ve made will assist in recognizing companies for keeping up with trends of changing employee values, aiding HR and hiring managers alike in seeking to find and retain  valuable talent. With more employees than ever working from home, we have reduced the weighting of onsite benefits, and increased the weighting of personal and family time off.  Additionally, we’ve added an ESG component, as recent studies have proven that more than half of younger employees will only join a company which has proven to be socially and environmentally responsible. Also, a recent research study from Deloitte found that 72 percent of employees surveyed would leave their company for a more diverse and inclusive organization.  

While recruiting and retention of employees continues to be challenging across most industries, those companies who strive to stay on top of what employees want and communicate those efforts will continue to attract top talent.  It is our objective in each of the categories below to identify those companies and provide them with an opportunity to stand out in this ultra-competitive employment environment, earning a Best Companies Award in one or more of the following categories: Women, Diversity and Millennials.

2022 Best Companies for Women Methodology Overview

Our objective is to identify companies that best meet the general needs of all working women, regardless of age, race, or family status.

Our sources include Working Mother Magazine, Best Places to Work, Fairygodboss, Women on Boards, Paid Leave for the US, Where Women Work, Extraordinary Women on Boards, LinkedIn; company websites and annual reports, press releases, and employee review sites such as Glassdoor, and Indeed.  Alternatively, companies may submit an application by completing the questionnaire.  

Criteria (In order of weight):

• Female Representation in the workforce, in management, and board of directors.
• Work-Life Balance Benefits, including flexible work schedules, remote working and childcare services.
• Professional Development/ Support Networks, such as new hire training, professional development and mentorship programs, and tuition reimbursement
• Paid Time Off, including vacation days, sick leave and personal days.
• Family Time Off: Maternity and Paternity Leave
• Health and Wellness Benefits, such as gym Memberships, employee discounts, and fertility assistance
• Employee Recognition / Morale, including celebrations, social events and ESG activities
• Financial Benefits, including stock options, bonus, 401k and pension plans

Award Determination: Each category is given a composite score based on the time/benefit provided and weighted accordingly. Companies that surpass our “highest standards” level earn the Best Companies to Work Award.

Best Companies for Multicultural Women Methodology Overview

Our objective is to identify companies that best help women of multicultural backgrounds to navigate the workplace by dismantling systematic barriers and closing race-based gaps.

Sources: Glassdoor, LinkedIn, Diversity Inc. magazine, company websites and annual reports, Alternatively, companies may submit an application by completing the questionnaire.

Criteria (In order of weight):

• Diversity Representation in the workforce and in management
• Work-Life Balance Benefits, including flexible work schedules, remote working and childcare services.
• Professional Development/ Support Networks, such as new hire training, professional development and mentorship programs, and tuition reimbursement
• Paid Time Off, including vacation days, sick leave and personal days
• Family Time Off: Maternity and Paternity Leave
• Health and Wellness Benefits, such as gym Memberships, employee discounts, and fertility assistance
• Employee Recognition / Morale, including celebrations, social events and ESG activities
• Financial Benefits, including stock options, bonus, 401k and pension plans

Award Determination: Each category is given a composite score based on the time/benefit provided and weighted accordingly.  Companies that surpass our “highest standards” level earn the Best Companies for Diversity Award.

Best Companies for Millennial Women Methodology Overview

Our objective is to identify companies that best help millennial women grow professionally and advance their careers while also catering to their active lifestyle.

Sources: Sites such as Glassdoor, Indeed, LinkedIn, Where Women Work, company websites and annual reports, and press releases.

Criteria (In order of weight):

• Work-Life Balance Benefits, including flexible work schedules and remote working
• Professional Development/ Support Networks, such as new hire training, professional development and mentorship programs, and tuition reimbursement
• Paid-Time Off, including vacation days, sick leave and personal days
• Health and Wellness Benefits, such as gym Memberships, employee discounts, and fertility assistance
• Employee Perks, including discounts, free food, and pet friendly workspace
• Employee Recognition / Morale, including celebrations, social events and ESG activities
• Financial Benefits, including stock options, bonus, 401k and pension plans 

Award Determination: Each category is given a composite score based on the time/benefit provided and weighted accordingly.  Companies that surpass our “highest standards” level earn the Best Companies for Millennials Award.

Introduction to Women’s Choice Award: Impact Categories

For over a decade, Women’s Choice Award has recognized outstanding corporate efforts in the areas of fairness, equality and diversity. These awards have been proven to empower companies in amplifying their efforts. And with more companies striving to earn the award, the bar for these standards raises for all. We continue our mission of empowering women to make better choices regarding their employment, as well as their purchasing decisions.

To which company will a customer become loyal and committed in partnering with their success? The answer often lies in the policies and direction that companies are making to help protect and serve their communities and environment in which they exist. After all, global warming has created record-breaking heat waves across nations. Water shortages have tipped regions into emergency situations. Weather anomalies have destroyed entire communities causing billions of dollars of damage. And for the first time, plastics are being found within the blood cells of humans.

Awareness of these global complications has become unavoidable, and with it the need for solutions and improvement. Many companies are making outstanding efforts to improve these conditions. It is for these reasons that we recognize these organizations, enabling women to easily identify those companies whose values align with their own; and to be able to support efforts that companies are making to boost environmental and social protections. It is our goal to help raise the bar by recognizing companies that are doing their best to protect the people and this planet on which we all live together.

2022 Best Companies for Social and Environmental Impact: Methodology Overview

Social Impact

Our objective is to identify companies that best meet the level of standards that help to uphold values of the people who work for the company, the customers they serve, and the community in which they exist. Transparency is key in this award, whereas the company needs to have stated goals, as well as stated results through active tracking methods. In the area of workers: wellness, career development and safety are taken into account, as well as equality efforts and results. For community, the economic impact is expected to be shown in meaningful ways, which may also include corporate giving as well as civic involvement. For customers, improving social impact includes ethical marketing, transparency of ingredients or supply chain, and/or the mission of the company to serve the underserved. Much of this data is retrieved through ESG reporting. Credit is also given to companies who are triple-bottom-line-driven or mission driven; and are transparent in their goals and results. Additional Sources: Glassdoor, LinkedIn, Diversity Inc. magazine, company websites and annual reports, Alternatively, companies may submit an application by completing the questionnaire.

Environmental Impact

Our objective is to identify companies that best meet the level of standards that help maintain a clean and healthy environment. An environmental policy is key in determining a company’s direction and efforts to incorporate practices that protect natural resources. These efforts may include resource management and sustainability of supply chain, and efforts to reduce consumption, pollution, and toxicity. Policies that educate employees to do the same are also given credit. Transparency is key in determining efforts in these areas that are being made with supply chain, distribution channel and conservation efforts. Service-oriented companies may also qualify if corporate efforts are being made in these key areas. Also considered are efforts in corporate giving and community engagement in these crucial areas. Additional Sources: Glassdoor, LinkedIn, Diversity Inc. magazine, company websites and annual reports, Alternatively, companies may submit an application by completing the questionnaire.