2008 Top Small Workplaces, Employee Ownership and Other Best Practices

Winning Workplaces and The Wall Street Journal have collaborated to select the 2008 Top Small Workplaces. The competition started with 780 nominations and 406 completed applications and ended with the 15 best being selected.

The 2008 Top Small Workplaces Benchmarking and Best Practices Report discusses the innovations and practices of the winners. Like last year's winners, employee ownership and open-book management are attributes shared by many of the winners:

• In 10 of the 14 privately held firms, employees share in ownership.
  
• In those companies where employees share in ownership, the employees own on average more shares than the CEO – 47% for employees vs. 37% for the CEO.
  
• Fourteen Top Small Workplaces practice open-book management and 10 provide structured training on financial literacy to employees.

The report also shares the best practices that separated the winners from the rest of the companies:

1. These companies take a long view of their business
2. It's not just about profits…these firms intend to change society
3. Open communication helps weather the good times and the bad
4. Teamwork — it's how the work gets done
5. Employee development assures quality execution
6. Workspace matters
7. Employees share in the risks and rewards
8. A focus on well-being, prevention and health builds endurance
9. Through their employees, these firms compete on quality and service.
   

PRESS RELEASE: 2008 Top Small Businesses with Exceptional Workplaces