December 10, 2015
Companies that win awards, win rewards beyond the accolades.
That’s the conclusion of two separate studies that sought to determine whether awards deliver tangible benefits to the companies that receive them.
A study released earlier this year by jobs and recruiting firm Glassdoor found that companies that rank on “best employers” lists—an indication of employee satisfaction—experienced higher returns and financial performance than the overall stock market during the last six years. Meanwhile, companies with low employee satisfaction ratings have underperformed the overall market during that same period.
Since 2009, a portfolio of companies on Fortune’s “Best Companies to Work For” outperformed the S&P 500 by 84 percent (for five consecutive years, DPR has ranked in the Top 25 of Fortune’s “Best Companies to Work For”).
Additionally, a similar portfolio of companies on Glassdoor’s “Best Places to Work” outperformed the overall market by nearly 116 percent (and DPR gets 4.6 out of 5 stars in reviews on Glassdoor.)
Research conducted more than a decade earlier by Kevin Hendricks and Vinod Singhal, which is still cited as the benchmark of assessing the value of total quality management (TQM) principles, found that corporate quality awards had an impact on bottom-line business results. The researchers found that over a 10-year period, more than 600 corporate winners of quality awards had 48% higher growth in operating income and 37% higher growth in sales compared to the control group. Award winners also outperformed the controls on return on sales, growth in employees and growth in assets.
That said, we are honored that you like us and the work that we do!
Some examples of recent awards include:
- Eagle award for excellence in construction, from the ABC of the Carolinas to the University of North Carolina at Greensboro Dining Hall Renovation and Expansion project
- Large builder of the year, given by the West Palm Beach chapter of the American Institute of Architects
- Award of merit, from ENR Southwest to the Banner Boswell Medical Center Hybrid Operating Room project
- Corporate safety award, given by the Associated General Contractors of Metro Washington
For more, check out our awards here.
*This blog post is part of a series that celebrates DPR's silver anniversary and focuses on 25 great things from the company from over 25 years. Here's the last one.