1 BEST COMPANY WINNER
Edward Jones is a company accustomed to ranking someplace around
the top of "best company" and "best customer
service" lists.
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One year ago, J.D. Power & Associates ranked Edward Jones first
among full-service brokerage firms in investor satisfaction for the
third straight year. In another field, Edward Jones this year ranked No.
4 in Fortune magazine's "100 Best Companies to Work For"
list.
There are two reasons Edward Jones--with 9,560 U.S. branches, 258
in Colorado--consistently finishes high in these sorts of surveys. Both
reasons are embedded deep in the company's business model, which
places the highest priority on the personal touch.
First, there is the typical Edward Jones office. Unlike the big
brokerages, these almost always consist of one Edward Jones financial
adviser/broker and one branch office administrator. Part of the
importance of the office manager is that he or she handles most of the
bushels of paperwork today's financial folks are obligated to fill
out.
Among other virtues, this enables the financial advisers to get out
of the office. This literally means pounding the pavement. Edward Jones
offices are distributed geographically, and advisers often go
door-to-door to solicit new business, as well as meet with clients.
Conversely, the office-in-your-neighborhood model allows convenient
access to advisers for clients and prospects.
"We feel that we're making an impersonal world more
personal," says Denver-based financial adviser and regional leader
Dan Large (who, as regional leader, has not one but two branch office
administrators in his office).
The second award-winning part of the Edward Jones model is
internal. One potential flaw of the Edward Jones office model is that it
could tend to isolate advisers from their colleagues--and in a
fast-moving industry, this could be deadly. Edward Jones strives to
minimize this possibility by bringing advisers and staff together in
frequent meetings that often double as rewards for a job well done.
Large, for instance, sat down for this interview just after a
four-day confab in Steamboat Springs that asked about 60 advisers to
attend morning meetings, but left afternoons free for themselves and
their families. (About 45 spouses and 60 children attended, too.)
"Our summer regionals are a family event. We all put our
Blackberries away," Large says. "We do these types of things
to get together so that people don't feel isolated." The
company also hosts monthly adviser meetings and other gatherings.
Another internal incentive involves rewards for performance. For
instance, the company awards financial advisers up to two yearly
"diversification trips" to five-star international
resorts--not for sales, but for properly diversifying clients'
portfolios. In 2007, more than half of all advisers won a
diversification trip.
So why work for Edward Jones? "You're going to run your
own office and you're going to be your own boss," Large says.
"Ted Jones was a pretty smart guy. He knew people would work harder
if they were working for themselves. For the right person, this is the
greatest thing in the world."
2007 RANK: No. 2
--David Lewis
2 BEST COMPANY WINNER
Pinnacol Assurence
Pinnacol Assurance was a financial mess not too many years ago,
with a disaffected work force to boot. Today the nonprofit is a stirring
fiscal success story and a sterling example of enlightened employee
policy. The two are not unrelated.
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Pinnacol is what used to be the Colorado workers' compensation
company. It still is, technically, but it's more complex than that.
While Pinnacol derives from state statutes, like other mutual insurance
firms the company effectively is owned by its policyholders.
They must be a happy group: While Pinnacol suffered a $500 million
deficit in 1990, since 2005 its turnaround has enabled it to return $227
million to customers. This year, Pinnacol distributed $55 million in
dividends to 58,000 customers, namely Colorado businesses. Meanwhile,
the company has dropped premiums 25 percent the past two years.
Meantime, employees get to work for a business that offers scads of
exemplary benefits, and keeps coming up with new ones, such as an
expanded telecommuting program.
Another example is the monthly "Coffee Talk with Ken"
program, Ken being president and CEO Ken Ross.
"Coffee Talk with Ken" has two benefits: It allows staff
to shoot questions at the CEO while eating a catered breakfast or lunch,
and it can lead to further bennies.
For instance, Pinnacol formerly neglected to match employees'
401 (k) contributions. But it only took two Coffee Talk questions from
concerned workers before Ross gathered his staff and changed that tack.
"Once we did that, my e-mail was flooded," Ross says.
"We have 600 people in this building, and I must have gotten about
75 thank-you notes."
It's part of a corporate culture that says, "If
you're happy at home with your family, and your family is happy
with you in your work environment, that directly impacts your
production, your efficiency and your output," Ross says.
Pinnacol staff gets lots of other impressive give-backs, one of
which has had a profound impact on Ross himself. The company offers
$4,000 to employees who adopt. Ross and his wife last November adopted a
Longmont boy, now 7 months old. "He's a sweet little
guy," Ross says.
NEW TO LIST
--David Lewis
3 BEST COMPANY WINNER
AlloSource
When you're a nonprofit dedicated to saving and restoring
human lives, it's natural that the employees who make it happen
would feel good about what they do. But AlloSource works at
employee-satisfaction, too.
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Based in Centennial where it has 254 employees, AlloSource provides
skin, bone and soft-tissue grafts for use in surgical procedures. It is
the world's leading supplier of fresh cartilage tissue used for
joint repair and skin allografts to heal severe burns.
"We have a very strong mission, which helps lay the foundation
for everything else we do," says AlloSource President and CEO
Thomas Cycyota. "Because we are a nonprofit and because we deal
with donated human tissue, we hire people who right off the bat
understand that we're a mission-driven organization, and that
drives a lot of our success as far as it relates to getting good,
satisfied employees."
Among the company's offerings: a flex-time alternative that
allows for four-day, 10-hour work weeks, a generous retirement plan and
PTO (paid time off) policy as well as medical and dental benefits. Plus
picnics, barbecues and other get-togethers to encourage employee
interaction.
In his eight years with AlloSource, Cycyota has seen the company
grow from 80 employees in the Denver area to its current 254 in
Centennial, and from 120 employees companywide to 400 (its other primary
locations are Salt Lake City and Cincinnati.)
AlloSource was a finalist in the Best Companies small-medium
category last year for firms with fewer than 250 employees. Cycyota
agrees that maintaining the desired workplace culture becomes more of a
challenge as the size of a work force grows.
"The challenges when you're a 400-person company with
locations across the country are different than when you're an
80-to 90-person company with most everybody based here in Denver,"
Cycyota says. "We actually have set up a couple committees... we
don't call them the 'fun committees,' but that's
what they are. New employees as well as more tenured employees look at
different things we can do to create or maintain the atmosphere that we
have."
A third-place showing this year among large-company finalists
indicates AlloSource's efforts have paid off.
"I've been in business a long time," Cycyota says.
"Winning this award last year and then again this year is one of
the highlights of my career. Business success is one thing, but cultural
success and having folks who kind of vote you in for this ... it's
a big deal."
2007 RANK: No. 17 (SMALL-MEDIUM CATEGORY)
--Mike Taylor
4 Mercury Payment Systems
Based in Durango where it is one of the largest private employers
in town, Mercury Payment Systems provides point-of-sale solutions for
retailers and merchants, including credit, debit, check, gift card and
loyalty processing.
Led by Marc Katz, this magazine's small-business CEO of the
Year in 2006, Mercury has grown rapidly since its founding in 2001. Two
persistent challenges are Durango's high cost of living and its
relative remoteness, making it all the more critical for company leaders
to create an environment that workers enjoy. Last year the company had
800 job applicants and hired 134.
The company's 252 current employees are invited to provide
feedback at regularly held "Townhall Meetings" as well as
bi-weekly lunches called "Departmental 101s" where they meet
with executive team members.
Mercury's highest honor, the "Award of Excellence"
is bestowed quarterly by the company's "Culture Club"
committee to the employee who exhibits outstanding performance and
service, demonstrates the company's core values and does whatever
it takes to help Mercury succeed. The award comes with a $500 prize.
NEW TO LIST
5 Alpine Bank
Based in Glenwood Springs, Alpine Bank has been a part of the
Western Slope since its founding in 1973.The bank currently serve nearly
100,000 customers at 37 locations.
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