EY named one of People Magazine’s “50 Companies That Care”
New York, 31 March 2017
Ernst & Young LLP is proud to announce its place among exceptional organizations on People Magazine’s first annual “50 Companies That Care” list, jointly chosen by People and Great Place to Work. Companies were recognized for going above and beyond in demonstrating respect, compassion and concern for their employees, their communities and the environment.
“Our inclusive, purpose-driven EY culture differentiates us from other professional services organizations and helps us attract, retain and develop great people,” said Steve Howe, EY Americas Managing Partner and Chairman and Managing Partner of Ernst & Young LLP. “We believe that when people pursue meaningful careers and can maximize their contributions, then collectively we are one step closer to realizing our vision of building a better working world.”
The 2017 “50 Companies That Care” was based on surveys of more than 368,000 employees at nearly 1,000 companies across the country. The selections were determined by the generosity of the organizations’ benefits and charitable work, as well as personal accounts of the incredible impact these organizations have made on the lives of their employees.
“EY aims to develop agile, purpose-driven leaders who work within high performing teams to make a positive impact on society. Our exceptional programs and benefits, including those focused on flexibility, learning and diversity and inclusiveness, help us to create a culture where all of our 45,000 people in the US can succeed and help us to deliver exceptional client service,” said Carolyn Slaski, EY Americas Vice Chair – Talent. “EY’s purpose is to build a better working world, and we do so in part through our innovative Corporate Responsibility initiatives that leverage skills-based volunteering to develop our people’s skills while contributing to our communities.”
Key EY initiatives include:
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 being a core skill for success at Ernst & Young LLP, College MAP (Mentoring for Access and Persistence) helps more than 1,000 EY mentors in the US build their own skills by mentoring more than 1,200 underserved students to achieve the dream of higher education in 32 cities across the country. And last year, more than 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!
EY Total Rewards: EY is committed to meeting the diverse needs of its people across generations, abilities, personal preferences and 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 family care. 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 stigma and provides quality resources. The 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.
Flexibility: The EY network 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, EY@Work initiative across the US firm. Currently, 25 US firm offices, affecting nearly 15,000 EY people, have been transformed into the new design, 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. EY is offering these benefits in an environment where 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 Pathway to Parenthood 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. 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; in order 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.
About People’s “50 Companies That Care”
People’s Companies That Care list highlights the top 50 US companies with 1,000 or more employees that have succeeded in business while also demonstrating respect, compassion and concern for their employees, their communities and the environment.
To identify the “50 Companies That Care,” People partnered with Great Place to Work® to produce the list using the research firm’s extensive database and inside knowledge of outstanding workplaces around the globe. The list is based on nearly 370,000 employees’ responses to survey questions asking them to rate how their companies treat them on a day-today basis. The list also takes into account employees’ personal stories about the difference their workplaces have made in their lives and in their communities – and the generosity of their organizations’ benefits, financial donations, and volunteerism. For more information, go to GreatPlaceToWork.com/People.
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 of the global EY organization that provides services to clients in the US.