Working Mother Magazine Announces "100 Best Companies for Working Mothers" 2000.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 5, 2000

Survey Reports Companies Offering Family-Friendly Options Reap

Bottom Line Benefits

(A complete report of Working Mother's 2000 "100 Best Companies for Working Mothers" can be found in the magazine's October issue (on newsstands September 5th - October 24th) and at either www.workingmother.com, or www.workingwoman.com. Please contact Meryl Weinsaft at 212.445.6237 or Jayne Wallace at 212.445.6311 to help localize your story.)

Corporations that prove to be "family-friendly" have the power to attract and retain talented employees, as well as benefit their bottom lines, according to Working Mother magazine's 15th annual report on the "100 Best Companies for Working Mothers." Companies - both large and small-- are finding that the availability of work/life initiatives such as telecommuting, access to on-site child care, and career training, among other perks, plays a key role in recruiting and retaining highly trained and talented employees, saving hundreds of thousands of dollars in the long run. This "100 Best" list highlights how savvy businesses are working to retain employees in this competitive workplace.

This year, the magazine has also augmented the investigative aspects of the editorial package. "Each year after the 100 Best list is published, we get letters from employees of these companies who want to know why they don't have access to the benefits described," explains Working Mother Editor-in-Chief Lisa R. Benenson. "For the first time, Working Mother took on this issue as well. The October article outlines three primary obstacles employees face, and looks at what employers can do to be sure benefits reach all workers. The truth is, too many benefits go to the people at the top, and those who may need family-friendly policies the most don't have access."

Despite those shortcomings, companies named to the list are making significant progress in improving the workplace for their employees. "Since 1986 when the list debuted, we've been witness to a work/life revolution," says Benenson. "The number of companies on the list that have initiated flextime and other work/life initiatives has increased dramatically. Companies are realizing that the work/life needs of their employees are very real and, by instituting these programs, companies increase production and lessen attrition. Bottom line: Programs that support work/life balance are good business."

For example, the magazine reports that health-care group Novant - one of 21 companies named to the "100 Best" for the first time-- figures that, for every dollar it spends on its on-site sick child care center in Winston-Salem, the company gets five or six dollars back, attributed to reduced absenteeism and lessened stress. Prudential discovered that investments in family-friendly programs such as job-sharing and flextime result in a 20% decrease in employee absences, as well as a lower turnover. Another corporate giant, Allstate, has also made the connection between employees' quality of life and the company's success. The company's policies encourage job-share and telecommuting. The reasoning? Workers can't give their best if they are worried or conflicted about their families.

Trends from Working Mother's 2000 special report on the "100 Best" include:

-- MAKING BENEFITS MORE ACCESSIBLE

Companies on this year's list have moved beyond simply creating work/life programs. Now, they are following through to make sure programs are being used and are available to the widest number of employees. Almost half of the "100 Best" companies link managers' pay with such issues as advancement of women on staff, use of flextime and employee satisfaction. It indicates a strong desire to maintain a happy workforce. On the "100 Best" list for 15 years, IBM encourages its managers to be creative and to focus on what gets done, rather than where or how it's done. At Synovus, one of the Southeast's most successful midsize financial-service banking groups, managers are taught to help workers make maximum use of flextime, compressed and part-time work schedules, job-sharing and telecommuting.

-- UNIQUE "QUALITY OF LIFE" PERKS

According to Novell, a Utah-based software company, one of the ways a company distinguishes itself is with benefits that make people's lives easier. In addition to such new-economy lures as stock options and high salaries, the company offers dental exams, flu shots, workouts and banking. Other companies including pharmaceutical giant Merck & Co. offer on-site auto service and take-out meals from the company chef to heighten the quality of employees' lives. Financial service companies help with what they know: MBNA presents a $2,500 CD to each new baby born to an employee; Fannie Mae gives loans for down payments and closing costs that are 100% forgivable over an employee's five year tenure. Even legal information company West Group has gotten in on the trend, making on-site services such as renewing license plates, ordering wedding invitations or sending out dry-cleaning available to those working in their headquarters.

-- FLEXTIME IS MORE PERVASIVE

All of this year's "100 Best" offer some sort of scheduling flexibility options to employees and are seeing a major drop in attrition and absenteeism as a result. In fact, since First Tennessee began offering flex options in 1992, the average absenteeism has dropped from about six days to one and a half; employee retention rates increased from 78 to 84 percent. Surprisingly, The NY Times Company --notorious for its "check-your-life-at-the-door" reputation-- harbors a similar philosophy and offers flextime and telecommuting in many of its U.S. locations. Last year, Universal Studios enhanced its long-standing flexibility arrangements by designing a formal "tool kit" for employees and supervisors to use in assessing whether their work habits and personalities are suited for flex arrangements.

-- ATTENTION TO CHILD CARE

While the number of companies attuned to the nation's need for quality child care continues to increase, only 10% of U.S. companies offer on/near site child care. The good news is that 68% of this year's "100 Best" have it available. Citing it as a "clear business need," consumer products manufacturer Procter & Gamble is convinced its child care center is critical to employee productivity, retention and recruitment. At Motorola, the self-described largest provider of work site child care in the world, three quarters of the company's working moms have access to two new day care centers. Additionally, 57 of the "100 Best" have instituted programs that help parents care for sick kids. This year, to deal with its uniquely multi-generational workforce - from 20-somethings at MTV to senior employees at Simon & Schuster--Viacom expanded its child care program to include grandkids.

-- PARENTING ASSISTANCE

With 98 out of 100 companies on the list offering a form of adoption aid and time off for the new parents, it's clear that businesses are beginning to think out of the box when it comes to meeting employees' changing work/life needs. Last year, in addition to doubling adoption benefits, Prudential instituted a pilot program called Daddy Stress, focused on balancing fatherhood and work. Northern Trust makes lactation facilities, with consultants on at all times, available for new mothers.

-- DIVERSITY IN THE WORKPLACE

In order to adequately represent a diverse client base, companies are realizing they also need to be diverse at home. Merrill Lynch has dramatically improved its commitment to women with the launch of a three-year Campaign for Women's Achievement, which includes diversity training, a website to help female consultants build their businesses, and a program for retaining and promoting women. Another traditionally "old-boy-network" company Ernst & Young has instituted mentoring, networking and executive development programs for women. Retail legend Sears has introduced a more inclusive policy aimed at customers and associates alike. Over the last few years, the company has rolled out a mentoring program for women and minorities. It has also recruited some 17,000 employees from Welfare to Work programs across the country.

-- EMPLOYEE FEEDBACK

Who would know better what they need than the employees themselves? This year, over three quarters of the companies obtain employee feedback through surveys. In response to its first work/life survey in seven years, employees at Stride Rite Corporation won longer vacations, larger tuition reimbursements and increased leave for fathers and adoptive parents. "You can't just offer benefits on a `like-it-or-lump-it' basis," says Franklin Raines, Fannie Mae's CEO, whose company -- a seven-time member of the "100 Best" -- gets employee feedback at regularly held "town halls" and via email.

Working Mother selected 2000's "100 Best Companies" based on five criteria: child care, leave for new parents, flexible work arrangements, work/life benefits such as elder care and adoption assistance, and opportunities for women. Editors looked at a range of supportive company offerings, including health insurance premiums, availability of time off to care for sick kids, mentoring programs and extras such as on-site gyms and other conveniences.

Working Mother magazine, founded in 1979, reaches more than 3 million readers each month, and is the only national business magazine written for executive and entrepreneurial mothers. It is part of Working Woman Network (WWN), a leading global resource for businesswomen in today's digital economy, which also includes Working Woman magazine, the National Association for Female Executives, a conference division, Businesswomen's Research Institute and The Business Women's Network. In August, under the leadership of CEO Kay Koplovitz, WWN launched WorkingWoman.com, the first online resource center exclusively for women in business.

WORKING MOTHER EDITORS AND REPRESENTATIVES FROM 100 BEST COMPANIES IN YOUR AREA ARE AVAILABLE AS OF SEPTEMBER 5, 2000 FOR INTERVIEWS to educate your audience on family-friendly options for working parents in America. For more information on the list as broken down by Top 10, industry and region, a profile on this year's Small Business Champion, or to schedule an interview, please contact Meryl Weinsaft at 212-445-6237 or Jayne Wallace at 212-445-6311.