This year, insurers that made Fortune magazine’s “100 Best Companies to Work For” list included three property/casualty insurers: ACUITY at No. 3, USAA at No. 33 and Nationwide Mutual Insurance Co., joining the list for the first time at No. 95.
Among the reasons for the honors:
“USAA believes in its mission statement, and that shows in every way we do business. Our members are not faceless people we are just trying to sell things to. They are individuals we care about,” said on employee.
“At Nationwide, with such a variety of departments, you can do any type of job that interests you without leaving the company or losing tenure,” according to one surveyed employee.
In general, insurers and other companies in financial and professional services sectors that made Fortune magazine’s “100 Best Companies to Work For” list this year are characterized by high levels of trust and transparency—especially employees’ belief in the credibility of their leaders, reports Marcel Schwantes, an executive coach with Leadership From the Core, in a related article he wrote for Carrier Management, “How Great Leaders Value Their Employees.”
The research behind the list is conducted by Great Place to Work, which reports that 92 percent of employees surveyed at these companies believe that management is transparent in its business practices. (Source: White paper titled “Industry-Specific Strategies of Winning Companies, An Analysis by Great Places to Work,” page 7, available for download on the Great Places to Work website.)
The researchers found that these best-in-class companies have leaders who do these things year in, year out, which correlate well with leadership trust behaviors: