EY is only Big Four firm on FORTUNE list for 19 consecutive years
New York, 9 March 2017
Ernst & Young LLP ranks #29 on this year’s list due to exceptional workplace programs and benefits
FORTUNE magazine announced its US 2017 "100 Best Companies to Work For®" list this morning, and EY ranked #29 — up 20 from our #49 ranking in 2016. EY is the only Big Four firm to be on the list 19 straight years.
“At EY, we build purpose-driven, agile leaders, who are inspired to make a positive impact on the business world and communities. Our focus on inclusiveness helps us to ask better questions, develop multi-faceted solutions, and enable team-driven holistic outcomes,” said Stephen R. Howe, EY US Chairman and Managing Partner and Americas Managing Partner. “Doing so, helps us to deliver high-quality results to our clients, as well as create a supportive work environment that allows everyone to thrive. We are grateful to our professionals for helping us create an outstanding culture that is consistently recognized.”
“Our exceptional programs provide our people with an array of personal and professional growth opportunities,” said Carolyn Slaski, EY Americas Vice Chair – Talent. “With a strong emphasis on open and honest conversations; diverse and inclusive teaming; and customizable coaching and learning opportunities – we continue to create a culture where all of our 45,000 people in the US can succeed and help us to deliver exceptional client services. We thank each and every one of our professionals for helping us to be named one of FORTUNE’s ‘Best Companies’ for the 19th year.”
The EY organization is helping to build a better working world through diversity and inclusiveness, high performance teaming and cutting-edge 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. We invest significantly in total rewards for all our people. In the past year, the US firm enhanced several 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 1,400 EY people in the US take paid parental leave each year and of them, half are men. The firm also launched “r u ok?”, its first mental illness and addiction program that builds on the EY culture of caring, helps erase the stigma and provides quality resources. EY Advantage program offers a holistic approach to benefits that goes beyond the standard medical, dental and retirement benefits to improve overall quality of life. With EY Advantage, our people can receive $500 reimbursement annually toward pre-approved fitness and health programs, refinance student loan debt at a lower interest rate, save on auto, home and pet insurance, and more. In 2016, the firm paid out more than $7.8 million in health reimbursements and to-date, more than 1,735 EY people in the US are participating in 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: Consistently recognized as a recruiting powerhouse by industry experts and thought leaders alike, Ernst & Young is well-known for providing unparalleled candidate experiences. The US firm is evaluating new ideas to engage and source talent, including crowdsourcing, student challenges, engagement simulations and talent labs to help students develop new skills and think of themselves as disruption spotters and futurists. Some EY signature programs include the annual International Intern Leadership Conference, which this past summer convened 3,600 interns from member firms 25 different countries; and earlier this year, the US firm hosted its 11th Annual Discover EY event, which convened a record number of high-achieving, ethnically diverse students from across 92 US campuses. Testament to its success, more than 90% of EY interns in the US accept full-time offers after graduation. The EY Employee Referral Program has become the US firm’s largest and most effective source for experienced hiring, paying out more than $8.1 million in bonuses to employees who referred candidates hired in the US in FY16. Moreover, last year, Ernst & Young LLP was ranked No. 1 in the Accounting field for the 9th consecutive year on the Universum Talent Survey – USA's Most Attractive Employers.
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 60,000 hours of support to nearly 250 high-impact entrepreneurs in 30 countries, equating to more than $23 million in value of services. With mentoring a core skill for success at the US firm, College MAP (Mentoring for Access and Persistence) helps more than 1,175 EY mentors in the US build their own skills by mentoring more than 1,100 underserved students to achieve the dream of higher education in 30 cities across the country. And last year, over 15,000 EY people participated in an annual day of service, EY Connect Day, contributing more than 100,000 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 all of its people to work flexibly. While offering formal flexible work arrangements (FWAs) for those who need them, nearly all of our people in the US use day-to-day flexibility to better manager personal and professional obligations. Currently, nearly 4,000 EY people in the US are on formal FWAs, which includes telework, reduced schedules and seasonal schedules. EY also continues to roll out its cutting-edge, Workplace of the Future (WOTF) initiative across the US firm. Currently, 25 US firm offices, affecting nearly 15,000 EY people, have been transformed into WOTF, with each one offering enhanced working spaces and improved amenities for EY people, clients and visitors Last year, the US firm unveiled its new Pathways to Parenthood benefits package, which offers 16 weeks of paid parental leave for both new 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.
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 2016, the US firm held more than 8,400 classes and client-serving professionals in the US accumulated more than 2.5 million hours of formal learning, averaging approximately 71 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: A recent EY study showed that teams with the highest levels of engagement have greater retention, stronger revenue growth and better profitability – and inclusiveness is key to engagement. Through initiatives such as the Inclusive Leadership Program and Career Mentors and Sponsors, EY provides high-performing women and ethnic minorities access to coaching and career opportunities to help support their advancement in the organization. EY is a member of the 100,000 Jobs Mission, and the US firm has hired nearly 800 veterans since joining in 2012. Professional Networks such as Unity (Lesbian, Gay, Bisexual, Transgender and Ally Professionals) and the Professional Women’s Network celebrate diversity and further an inclusive environment by encouraging EY people to bring their full, authentic selves to the workplace. Moreover, EY was the lead sponsor of International Women’s Day, which took place on March 8th, and to raise awareness about the importance of gender equity in the workplace, the firm hosted a panel session for nearly 1,000 professionals at the famous New York City Town Hall.
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.