EY celebrates 20 years on FORTUNE’s “100 Best Companies to Work For” list
New York, 15 February 2018
The US firm to give its professionals the week of July 4th, 2018 off to recognize the significant milestone
Today, FORTUNE magazine announced its U.S. 2018 "100 Best Companies to Work For®" list and Ernst & Young LLP (EY) was recognized for a record 20th consecutive year. The recognition continues the firm’s streak of being the most-consecutively recognized Big 4 professional services firm.
“The world of business is changing at an accelerated pace, but one aspect that is not changing is our steadfast commitment to our people and culture,” said Stephen R. Howe, EY US Chairman and Managing Partner and Americas Managing Partner. “At EY, we strive to build an inclusive environment that maximizes and values differences, as well as offers enriching experiences for our people to thrive both personally and professionally. As we celebrate 20 consecutive years on FORTUNE’s ‘100 Best Companies to Work For’ list, we are reminded that this incredible achievement is rooted in our people – who are working hard every day to deliver the best results to our clients and fulfill our purpose of building a better working world.”
“Twenty consecutive years as one of FORTUNE’s “100 Best Companies to Work For” is an incredible achievement and reason to celebrate,” said Carolyn Slaski, EY Americas Vice Chair of Talent. “We earn a spot on this list, year after year, because of our people. To me, there is no better indicator of our amazing culture. Our people bring our purpose to life with our clients and in our communities because they are committed to building a better working world within our own workplace.”
To celebrate its professionals, workplace culture and 20 years of recognition, EY is giving its people in the US the gift of more time with family and friends this summer by providing the entire week of the 4th of July 2018 off as a paid holiday.
The EY organization is helping to build a better working world through leading benefits, diversity and inclusiveness, high performance teaming and innovative workplace programs such as:
EY Total Rewards: EY is committed to meeting the diverse needs of its people across generations, diverse abilities, personal preferences and different family sizes and compositions. In part, this means investing in benefits that support the lifestyles of our on-the-go professionals. In the past year, the US firm complemented its virtual healthcare benefit with 2nd.MD, the second opinions service that connects users with doctors from top-rated medical institutions across the country. We offer several family-friendly benefits covering: Advanced Reproductive Technologies (i.e., infertility treatments), adoption and surrogacy, 16 weeks paid parental leave for primary caregivers, and designated paid time off for personal illness and/or when employees are unable to work to care for family members. Currently, nearly 1,600 EY people in the US take paid parental leave each year, and of them, more than half are men. The firm also provides a mental illness and addiction program to erase the stigma and provide quality resources. With EY Advantage, our people can benefit from a holistic approach to benefits that focuses on their overall quality of life, including an annual $500 reimbursement toward pre-approved fitness and health programs, student loan debt refinancing, savings on auto, home and pet insurance, and more. In 2017, the firm paid out more than $9.7 million in health and fitness reimbursements, and, to-date, more than 1,340 EY people in the US are participating in the student loan refinancing program. The performance-based bonus program establishes a direct financial reward in line with the organization’s success and the progress being made toward our Vision 2020+ goals.
Recruiting: EY is well-known for providing exceptional recruiting experiences, from interns, to gig workers, to experienced hire referrals. We have started to use digital interviewing to enhance and simplify the candidate experience, allowing us to respond to candidates faster. Candidates who participated in the digital interviews told us they felt better prepared, were able to take time to reflect and present their best selves, and appreciated hearing back from us sooner. In fact, digital interviewing has reduced the time of our overall hiring process by 40 percent. The EY global signature campus recruiting event, the annual International Intern Leadership Conference, convenes 3,600 interns from 25 different countries and serves as a testament to the success of our internship program, where more than 90 percent of EY interns in the US accept full-time offers after graduation. GigNow is EY’s new and innovative platform that allows gig workers to directly access EY contract opportunities. Since its launch in the spring of 2017, we have more than 6,000 candidates in the GigNow talent pool across the US and Canada, and have filled more than 800 positions. Our Employee Referral Program has become the US firm’s largest and most effective source for experienced hiring, paying out nearly $4 million in bonuses to employees who referred candidates hired in the US in FY17. Last year, Ernst & Young LLP was ranked No. 1 in the Accounting field for the 10th consecutive year on the 2017 Universum US Talent Survey.
Corporate Responsibility (CR): At EY, we believe that business can be a force for social good. That’s why EY offers innovative programs that combine skills-based volunteering (including mobility experiences) with CR. Our EY CR Sabbaticals provide immersive volunteer experiences that deliver services to entities that otherwise could not afford them and helps us to build purpose-driven leaders. These immersive experiences include longer volunteer placements that engage our people, help develop leadership and business skills, and strengthen our communities. Programs like EY Vantage, for example, have provided more than 52,000 hours of support to nearly 174 high-impact entrepreneurs in 10 countries, equating to more than $18 million in value of services. With mentoring as a core skill for success at the US firm, College MAP (Mentoring for Access and Persistence) helps more than 1,200 EY mentors in the US build their own skills by mentoring more than 1,600 underserved students to achieve the dream of higher education in 34 cities across the country. Last year, more than 18,000 EY people participated in an annual day of service, EY Connect Day, contributing over 113,000 hours in more than 60 offices of EY firms across the Americas – a new record.
Flexibility: The EY organization has fostered a culture that empowers its people to work flexibly. Nearly all of our people in the US use day-to-day flexibility to not only help them manage their busy lives, but to support their personal and professional success. We also continues to roll out our cutting-edge EY@Work initiative across the US firm (and globally). Currently, 41 US EY offices, affecting nearly 31,000 EY people, have been transformed, with the focus on flexible working, enhanced technology, collaboration spaces and improved amenities for EY people, clients and visitors. In 2016, the US firm unveiled its new Pathways to Parenthood benefits package, which offers 16 weeks of paid parental leave for primary care moms and dads, welcoming a child through birth, adoption or surrogacy. Surprisingly, only 21% of U.S. companies are providing paid maternity leave and only 17% are offering paid paternity leave according to the Society of Human Resources Management. Additionally, the new package offers financial assistance of up to $25,000 per family for adoption and advanced reproductive technology procedures and surrogacy. In 2017, ten days were included for personal and/or family care when EY people are unable to work to care for themselves or family members. The policy uses an expansive definition of “family member” that includes any close association considered family as well as service animals. EY’s policy treats time used under this policy separately from designated personal and/or vacation time, giving more flexibility to use personal or vacation days to relax and pursue personal interests.
Learning & Development: Central to EY is a culture of learning and professional development that encourages its people to reach their potential through purposeful and stimulating experiences and mentoring and coaching, which is available in-house to EY people in the US. In FY17, the US firm held more than 9000 classes including virtual and client-serving professionals in the US accumulated over 2.8 million hours of formal learning, averaging approximately 75.2 hours per year, per person. EY coaches help our people through pivotal transitional stages in both their professional and personal lives by offering leadership, team and career coaching. From becoming a new parent to reaching an executive position within the organization, EY coaches provide in-person and online resources to support continued success and professional growth.
Diversity & Inclusiveness (D&I): At EY, D&I is embedded within every part of our business, which allows us to develop innovative solutions for our people and clients. Examples in the past year included: 1) Launching EY’s Neurodiversity Program in support of people with diverse abilities in Philadelphia and Dallas. The program hires individuals on the autism spectrum to serve as Accounting Support Associates and plans are underway to expand the program to additional locations in 2018. 2) Creating our Ally2Advocate program – an internal, gamified digital platform, where Allies, who are supportive advocates for the LGBT+ community and to each other, help create a safe and inclusive environment for LGBT+ employees through their words and behaviors, which in turn helps support an open and inclusive workplace for everyone. We anticipate expanding the Ally2Advocate platform to additional diversity dimensions in the future. 3) Providing “check-in” guides to our executives for group and one-on-one conversations, which were instrumental in enabling our leaders to connect with their teams and navigate difficult subject matters or topics with our people. 4) Signing The CEO Action for Diversity & Inclusion™ pledge in 2017 that enables us to work with other business leaders who are committed to creating inclusive cultures that value people’s unique perspectives to drive innovative solutions — and a better working world for us all. 5) Issuing EY’s new Inclusion and non-discrimination global policy, marking a key milestone in our organization’s efforts to build a truly diverse and inclusive workplace culture. It provides global consistency and clarifies what is meant by discrimination, intimidation and harassment, and encourages equitable and respectful treatment for our people across borders. To enable all our people to do their best work, EY is committed to creating an environment where differences are respected and valued, and where our people feel safe and have the opportunity to contribute fully.
Lastly, we are also proud to be recognized in the past year by Great Places to Work as a Best Multinational Workplace, Best Workplace for Parents, Best Workplace for Diversity, Best Workplace in Consulting & Professional Services and Best Workplace for Giving Back among others.
To learn more about EY and the US firm’s programs, please visit: www.ey.com.
To pick the 100 Best Companies to Work For, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America; 257 firms participated in this year's survey. More than 252,000 employees at those companies were surveyed by the institute, a global research and consulting firm operating in 45 countries around the world. Two-thirds of a company's score is based on the results of the institute's Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about management's credibility, job satisfaction, and camaraderie. The other third is based on responses to the institute's Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts. After evaluations are completed, if news about a company comes to light that may significantly damage employees' faith in management, we may exclude it from the list. Any company that is at least five years old and has more than 1,000 U.S. employees is eligible. The deadline for applying for next year's list is June 30, 2017. For an online nomination form, go to the Great Place to Work Institute's web site. If you have further questions about the Best Companies to Work For, please e-mail email@example.com.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a member firm serving clients in the US. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.