2020 was a stagnant year for many; with stay-at-home orders in place, market instability, and rising unemployment, most people felt lucky to keep their current position. But as we gain some distance from this height of uncertainty, many individuals are seeking new opportunities for career development and professional growth.
LinkedIn’s latest Top Companies list is here to help, and it may offer some guidance for individuals or organizations looking to enhance workplace success and development in 2021. The list includes 50 companies that actively helped their employees establish a professional foundation to prepare them for success in their current role and beyond.
In measuring key pillars like ability to advance, skill growth, and company stability, the professional networking platform has cultivated a critical resource for professionals attempting to advance their careers. Additionally, it outlines leading companies’ strategies for employee empowerment to ensure long-term engagement and retention.
To learn what top companies are doing to retain and attract top talent in 2021, we summarize some of their top tips and strategies:
Bank of America
Bank of America secured the number 5 spot by focusing on employee engagement through thoughtful care, a greater sense of purpose, and effective reskilling. In a recent interview, Retail President Steve Boland stated that Bank of America responded to the difficult times brought on by the pandemic, social unrest, and economic downturn by truly caring for employees.
The bank specifically aimed to assist its frontline workers, providing child and adult care services, supplemental pay, and meal or transportation support. He noted that the company wanted to care for its employees just as they take the time to care for clients.
Additionally, Bank of America reskilled more than 20,000 employees to undertake new programs initiated by the pandemic, like their Paycheck Protection Program which provides loans to small businesses.
Ultimately, the bank’s success could be a product of its focus on one-on-one employee engagement, an emphasis on ‘genuineness’, and accessible upper management. However, it also may have something to do with an increased sense of purpose inspired by efforts the brand put into reskilling its employees to support new initiatives. At the height of the pandemic, it was easy to lose sight of the importance of individual roles as the world saw devastating losses, so Bank of America’s ability to reposition its workers to assist others for more motivating causes during this time may have had the most positive impact on its employee’s satisfaction levels.
Ernst & Young
In the number 10 spot, Ernst & Young’s emphasis on employee training and education has kept employees engaged and successful throughout the past year. The firm invested $450 million in training and advanced learning opportunities for its employees.
EY boasts its own accelerated MBA program hosted by the Hult International Business School. In its program, employees build a business curriculum with courses in blockchain, diversity and inclusion, and sustainability. After completing 300 hours and fairly extensive coursework, employees are eligible to receive their MBA. If that is too much of an undertaking, employees can also work to receive unique badges in similar topic areas.
The company has introduced these advanced development opportunities to instill a culture that promotes continuous learning and growth. This fits perfectly into LinkedIn’s assessment and provides employees with the ability to not only grow within their organization but actively acquire educational advancement that will support their future success.
Opportunities like these create a workplace that inspires employees to continually develop their skills and passions. Rather than simply enhance training for particular roles, the company supports its employees as well-rounded and knowledgeable individuals. It also introduces new perspectives and mindset shifts that work to bolster and diversify teams.
Verizon
Verizon took the 14th spot, with its focus on employee wellness and support for mental health awareness. In its new Mind Together program, Verizon partnered with companies like Spotify and Kelloggs to raise awareness about mental health and its hidden existence in the corporate environment.
The program will hold regular meetings to develop plans for leaders to effectively support mental health from the top down. The coalition will report their progress annually, outlining developments, discussing key learnings, and introducing new corporate members. The program has also partnered with the mental health advocacy group Made of Millions to act as an advisory partner, sharing industry insights and feedback for future success.
Mind Together aims to normalize and destigmatize mental health and commit to setting higher standards, not just as a brand, but for the global community at large.
This kind of commitment shows employees that the company genuinely cares about their well-being. It’s one thing to say you care and offer one-time perks as a quick fix, but sustaining a continued goal of improvement and offering collective support will truly empower employees after a universally tough year.
Photo by PEXELS