Getting Better All the Time: Best Workplaces in Latin America 2014 by Great Place to Work

Getting Better All the Time: Best Workplaces in Latin America 2014

Best Workplaces in Latin America 2014

Getting Better All the Time Great Place to Work Institute Releases its 11th Annual Best Workplaces in Latin America List; Kimberly Clark, Gases de Occidente, and Liderman take top honors New Analysis Shows Most Latin American Nations Have Seen Their Best Companies Increase Employee Trust Levels Over the Past Five Years

Best Workplaces in Latin America 2014

Table of Contents: 06 Executive Summary 08 About Great Place to Work 10 Background and High-Level Findings 14 Country-by-Country Trust Findings 24 Regional Trust Findings 28 Fast Facts about the Best 100 Workplaces in Latin America 2014 36 The List of the 100 Best Workplaces in Latin America 42 Profiles of the Three Top Companies 48 Awards and Award Winner Profiles 52 Methodology

Best Workplaces in Latin America 2014

Executive Summary The best workplaces in Latin America are getting better. That’s the good news as the Great Place to Work® Institute releases its 11th annual Best Workplaces in Latin America list. Personal care products maker Kimberly Clark is the best multinational workplace in the region, Liderman—a security services provider in Peru and Ecuador—earns the highest marks among large national companies in Latin America, and Colombian natural gas company Gases de Occidente ranks as the top medium-size company. Those companies and the rest of the organizations on the list have plenty to be proud of. But so does Latin America as a whole.

We conducted a five-year analysis of the best workplaces in major Latin American countries with a focus on levels of employee trust—which is the foundation of a great workplace and a key ingredient to business success. The results show that most countries saw a gain in trust levels in their best workplaces, and several countries experienced significant improvement. No country witnessed a major drop in trust levels in their best workplaces—not even Venezuela, which has weathered significant social, political and economic upheaval in recent years. Chile’s best companies posted a 9 percent rise in trust levels, while Argentina saw a 7 percent increase and Paraguay a 6 percent gain. A related analysis we conducted of the best workplaces in the region as a whole drew similar conclusions. Over the past nine years, those

top workplaces have been scoring higher and higher on Great Place to Work trust assessments. There are caveats to this sunny news for employees and employers. Our findings reflect the level of employee pride, camaraderie and trust at the very best workplaces in Latin America—the organizations that have earned spots on national best workplaces lists as well as the regional best workplaces list. The conclusions do not necessarily reflect the workplace climate overall in Latin America.

Gutiérrez de Piñeres, general manager of Gases de Occidente, says this broader purpose is partly why his company aims to care for employees and their families, and to foster good citizenship among them. “We think this is a good way of influencing society,” Gutiérrez de Piñeres says. “When you impact the families, you are impacting new generations.”

Still, the gain in trust at the best workplaces is a sign that the movement among business leaders and rank-and-file employees to build better workplaces is gaining momentum in the region. The heightened trust levels reflects increased awareness that organizations ought to create positive, employee-centered cultures, and that such cultures fuel better business results, says Michelle Ferrari, general manager of Great Place to Work Mexico. “It has to do with the level of consciousness in companies,” Ferrari explains. “It’s the realization that it’s not optional to not be a great workplace.” There’s a bonus to the best workplaces getting better. A growing number of the best workplaces in Latin America feel an obligation to do more than make their workplaces great. They see their organizations playing key roles in improving societies that have been wrestling with corruption, lawlessness and other social problems. Arturo

Best Workplaces in Latin America 2014

About Great Place to 速 Work Great Place to Work速 Institute, Inc. has conducted pioneering research on the characteristics of great workplaces for more than 25 years. We believe all companies can become great workplaces, and our mission is to help them succeed. Our Great Place to Work model is recognized as the standard for assessing great workplaces. In roughly 50 countries around the world, we are proud to:

Latin America offices: Argentina Bolivia Brazil Central America and the Caribbean Chile Colombia Ecuador Mexico Paraguay Peru Uruguay Venezuela

En casi 50 países en el mundo, nos enorgullece:

Recognize

best Workplaces for their achievements through our international and national Best Workplaces lists. In Latin America we publish 12 national lists and worldwide we publish lists in roughly 50 countries.

Help

companies create and sustain great workplace cultures through our advisory services. Our data collection tools (e.g. the Trust Index© employee survey, focus groups, 360-degree professional development tool); educational workshops and training programs; action planning system; and strategic advisory services support the transformation process within any organization. Great Place to Work’s unique access to best workplace data allows us to offer unparalleled benchmarking opportunities, best practice information, and transformation insight for our consulting clients.

resources, best practices, and research through our events and education services. These include peer networking groups, workshops, conferences, and publications, which enable organizational leaders to learn directly from each other, as well as benefit from our wealth of knowledge and lessons learned from best workplaces and our clients.

Best Workplaces in Latin America 2014

Background and High-Level Findings The worldwide movement towards better workplaces has important roots in Latin America. Journalist Robert Levering co-wrote the book â&#x20AC;&#x153;The 100 Best Companies to Work for in Americaâ&#x20AC;? in 1984, and he co-founded the Great Place to Work Institute in the United States in 1992. But Brazilian entrepreneur Jose Tolovi Jr. was among the first business leaders globally to embrace the idea that a great workplace is one where employees trust the people they work for, have pride in what they do, and enjoy the people they work for. In fact, the very first Best Companies list was published in Brazil in 1997. Since then, Great Place to Work affiliates have opened in all the major countries of Latin America. An affiliate also covers the Central

America and Caribbean region. These organizations are part of a global network of Great Place to Work affiliates that today operate in some 50 countries across the globe, researching best workplace lists and providing a range of consulting services. The benefits of becoming a great workplace are increasingly clear to businesses in Latin America and elsewhere. A recent study by the Great Place to WorkÂŽ affiliate in Mexico, for example, found there is a positive correlation between high levels of employee trust, commitment and collaboration and business productivity measured in terms of revenue per employee. That research is part of a growing body of evidence that better

workplaces lead to better results, including improved financial outcomes and increased employee attraction and retention. Publicly traded companies on the U.S. Best Companies to Work For list have nearly doubled the performance of the stock market overall from 1997 to 2013. And a 2013 report from research and consulting firm Interaction Associates found that “companies adept at practices that reinforce strong leadership, trust, and collaboration enjoy better financial performance.” Best workplaces in Latin America have their own stories along these lines. Ask Liderman’s leaders, for example, about the connection between their high-trust culture and their reduced need for middle managers. At Liderman, 500 security guards require 10 supervisors, says Javier Calvo Pérez Badiola, the company’s CEO who also calls himself “culture guardian.” By contrast, a major competitor needs 35 supervisors, he says. “People can manage themselves when there is trust,” Perez Badiola says. Or consider the profitability growth at Gases de Occidente. The company’s earnings before interest, taxes, depreciation and amortization—or EBITDA, a common measure of profits—rose 18 percent between 2012 and 2013. And it wasn’t just about adding employees to sell more gas contracts. EBITDA per employee also rose, from $146,000 per person to $162,000 per person. Gutiérrez de Piñeres says the company’s focus on a respectful, family-oriented, trusting culture is the main engine for the enviable results. “That’s how we demonstrate to our shareholders that this policy is working,” he says. Best Workplaces in Latin America 2014

Country-byCountry and Regional Findings As we prepared our 11th annual list of the Best Workplaces in Latin America, we decided to examine trust trends in individual countries and in the region as a whole. The country-by-country analysis meant reviewing best workplaces in each of our affiliates—which represent 11 individual countries and the sub-region of Central America and the Caribbean. In particular, we studied the Trust Index scores of all the national best workplaces lists during the past five years. The Trust Index is Great Place to Work’s 58-question employee survey that measures trust, camaraderie and pride in organizations. Each year in the study spans two calendar years. This is because best workplace lists in different countries are published at different times of the year, and we wanted to use the most recent data. The Trust Index benchmark scores showed that countries in the region remained relatively stable or recorded gains in terms of the trust levels of their best workplaces between 2009/10 and 2013/14 (see Figure 1). In addition to this analysis of each country’s best workplaces, we studied the companies on our annual regional list of the best workplaces in Latin America. For this research, we again examined Trust Index scores. Overall trust levels at the regional best workplaces have risen some years and fallen others during the period 2006-2014. But the long-term trend is clear: the best are getting better (see Figure 2).

Figure 1. Trust Level Change Among Best Companies Between 2009/10 and 2013/14 12% 10%

7 6

6% 4

4% 2%

-1

-2%

-2

hi le C

ez ue an tra la d lA C m ar e ib ri be ca an M ex ic o Pa ra gu ay Ar ge nt in a C

Ve n

do r ua

Pe r

zil

Bo liv ia C ol om bi a

Br a

gu a

-4%

Figure 2. Trust IndexÂŠ historic development of the 100 best in Latin America 90 88 86 84 82 80 78 76 74 72 2006

2007

2008

2009

2010

2011

2012

2013

2014

Best Workplaces in Latin America 2014

Country-byCountry Trust Findings In this section we analyze the best company trust level trends in select countries.

Chile

Chile is the country that witnessed the largest gain in trust level scores among its best workplaces. Chile’s best workplaces’ annual benchmark rose from 74 in 2009/10 to 81 in 2013/14. The country saw even higher benchmark scores in the years 2010/11-2012/13. Still, the change from 2009/10 to 2013/14 represents a gain in trust levels of 9 percent. Jose Antonio Yazigi, director of Great Place to Work® Chile, says the increased trust among employees at the best workplaces in Chile stems mostly from a change in mindset among business leaders in the country. “They realize the key driver of success is the people,” he says. This shift in thinking can be seen even in the way Chilean companies are renaming their “human resources” departments to “department of corporate culture,” “people department” or even “happiness department.” The changes may seem superficial, but signal the way companies are recognizing that each employee is “not a ‘resource,’” Yazigi says. “People are people.” Growing interest in a better work-life balance among Chileans also may be contributing to improved trust scores, as companies in the growing economy seek to attract talent. Yet another factor behind Chile’s strong growth in trust levels at the best workplaces is the country’s culture of learning, Yazigi says. For several decades now, Chileans have been exposed to multinational companies that often demonstrate management practices breeding trust, camaraderie and pride. Chilean leaders have soaked up those lessons and applied them locally, Yazigi says. “We are very good students. If we see something that has value, we go all the way. We persevere,” he says. “Now, we lead.”

Figure 3. Chile’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

Best Workplaces in Latin America 2014

2011/12

2012/13

2013/14

Argentina Argentina is another country that saw a significant increase in the trust levels of its best workplaces. The benchmark score for Argentina’s best companies jumped from 72 to 77 from 2009/10 to 2013/14, which represents a 7 percent rise. Omar Gennari, general manager of Great Place to Work® in Argentina, Bolivia, Paraguay and Uruguay, says growing trust in Argentina’s best workplaces reflects the way CEOs and senior management have begun to see evidence of the relationship between workplace environment, organizational culture and business results. Companies also have developed an awareness of the key role leaders play in building great workplaces. And there has been a stronger commitment on the part of senior business leaders to be consistent in developing and implementing plans for improving company climate, Gennari says. Argentina has weathered some difficult political and economic conditions in the past five years, including concerns about inflation and labor conflicts. But faith in high-trust workplaces has strengthened rather than faltered among its best workplaces. Gennari says the challenges have served to highlight how a healthy workplace climate can serve as a competitive advantage in difficult times. “Many times it can help an organization overcome crisis situations more quickly than other businesses which aren’t working on their culture,” he says.

Figure 4. Argentina’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

2011/12

2012/13

2013/14

Paraguay Paraguay also experienced a large gain in trust scores among its bestworkplaces. The country’s best workplaces’ annual benchmark increased steadily from 80 in 2009/10 to 85 in 2013/14, a rise of 6 percent. Luis Riva, president of Great Place to Work® in Argentina, Bolivia, Paraguay, says the rise in trust levels among Paraguay’s best workplaces must be viewed cautiously because of the small number of companies that have appeared on the list. Five organizations earned a place on the list in 2009/10, a number that grew slightly to eight in 2013/14. Riva also says the Paraguay business culture has been one of the most traditional in Latin America. Many managers in the country have been characterized by a “command-and-control” mentality. Such leaders are not immediately receptive to concepts like giving employees a greater voice in decisions, communicating company strategies and letting employees “be themselves” at work. But Paraguay’s best workplaces have boosted their trust levels in recent years. Those gains, given the relatively small size of the Paraguayan economy, have made the country one in which Great Place to Work has had a sizable impact, Riva says. “”We changed the society a little bit more than in other Latin American countries,” he says.

Figure 5. Paraguay’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

Best Workplaces in Latin America 2014

2011/12

2012/13

2013/14

Mexico The best workplaces in Mexico also demonstrated a marked improvement in their trust levels from 2009/10 to 2013/14. The benchmark for Mexico’s best workplaces rose steadily from 78 in 2009/10 to 82 in 2013/14, a 5 percent increase. Michelle Ferrari, general manager (Directora General) of Great Place to Work Mexico, says a major trend in recent years is for large Mexican companies— not just multinational businesses with Mexican operations—to grasp the significance of a great workplace culture. “The owners and CEOs of these companies have realized in the last two to three years how important it is to invest in their people,” she says. “It has been a movement that has been created within Mexican society.” A decade ago, Mexico’s Best Workplaces lists were dominated by local affiliates of multinationals, such as Cisco Systems, Microsoft and PepsiCo. Such global companies continue to earn spots on Mexican best workplaces lists. But now it is common for several local Mexican organizations to rank in the top 10 in the lists. What’s more, those national companies tend to see large gains in trust level scores when business leaders adopt new trust-based practices. These can be as simple as easing the dress code, Ferrari says. “In a Mexican company, when you let people wear their jeans on Fridays, it’s like ‘Oh, wow!’ That’s a huge thing.” Another factor behind the progress of Mexico’s best workplaces is a receptivity to the reciprocity at the heart of a trusting culture. “In general terms, the Mexican person is very warm,” Ferrari says. “They’re happy. They want to give what they can give—when you give to them. When you treat them correctly.”

Figure 6. Mexico’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

2011/12

2012/13

2013/14

Colombia Trust levels at the best workplaces in Colombia remained relatively stable from 2009/10 to 2013/14. The precise benchmark rose slightly in 2010/11 and fell slightly in 2012/13, but finished the five year period as it began-at 87. Jaime Urquijo, CEO of Great Place to Work® Colombia, points to a number of factors behind his country’s steady trust levels. In 2013, labor strife in the mining sector and other areas may have dampened feelings of trust for workers throughout the economy, he says. Another potential drag on trust levels may have been headwinds facing the industrial sector generally, such as unfavorable exchange rates. On the other hand, Urquijo says, a shift in Colombia’s economy toward more service businesses may have bolstered the annual trust levels. That’s because companies in the service sector, such as retailers and banks, tend to achieve higher trust level scores. “Services companies are doing well on the Trust Index© survey,” Urquijo says. Although overall trust levels among Colombia’s best workplaces have not increased over the past five years, Urquijo points out that the level is the highest in Latin America. To him, that is a reflection of the way the country’s businesses have had to overcome a lack of natural resources, such as petroleum reserves or large expanses of prime agricultural land. Colombian national companies are learning from American and European firms that trust is a key foundation for lasting business success, Urquijo says. “Many companies in the country try to adapt best practices in order to get competitive,” he says. “They are trying to build something great for the long run.”

Figure 7. Colombia’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

Best Workplaces in Latin America 2014

2011/12

2012/13

2013/14

Peru Trust levels at the best workplaces in Peru did not change much between 2009/10 and 2013/14. After rising from 86 in 2009/10 to a high of 89 in 2010/11, the best companies’ Trust Index benchmark for Peru returned to 86 in both 2012/13 and 2013/14. Ana Maria Gubbins, CEO of Great Place to Work® Peru, says the stability in trust levels has to do with the way many of the same companies earn positions on the list year after year. Some of these firms rise a bit in their trust levels while others decline slightly in their results, she says. Peru’s national benchmark is second highest to Colombia’s in all of Latin America, and it closely parallels the benchmark scores for Europe and the United States. Gubbins says one factor behind the elevated trust in her country’s best companies is the “strong and mature culture” which characterizes these businesses. Peru’s best workplaces, Gubbins says, believe in the Great Place to Work model of trust, pride and camaraderie and have worked to implement it in their organizations for more than 10 years. Leaders of Peru’s top workplaces are pleased with the high level of trust they’ve achieved, Gubbins says. “The best companies in Peru are very proud of this accomplishment and understand how it positively influences their businesses,” she says. “Their top executives are fully committed to creating great workplaces within their organizations.”

Figure 8. Peru’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

2011/12

2012/13

2013/14

Brazil Brazil’s best workplaces saw their trust levels slide slightly between 2009/10 and 2013/14. The national Trust Index© benchmark fell 1 percent from 83 to 82. Ruy Shiozawa, CEO of Great Place to Work® Brazil, says that result highlights just how hard it is to achieve a high-trust culture within an organization. “It is a huge challenge to develop and maintain a great workplace,” Shiozawa says. “It’s a permanent effort.” One factor that may have pulled down trust levels in recent years, he says, is the expansion of Brazil’s national list of best companies from 100 to 130. Although all the newcomers met the minimum high standard to earn the designation as a best workplace in Brazil, there is typically a learning curve for those organizations, Shiozawa says. They tend to score higher over time, as management adopts improved practices and a culture of trust takes root. On the other hand, Shiozawa says, a tighter labor market is fueling stronger Trust Index© results as companies fight harder to make their workplaces attractive. Amid healthy economic growth in Brazil in recent years, the unemployment rate has dropped from 10 percent in 2005 to 4.5 percent in 2013. During that same period, the annual rate of voluntary employee turnover in the country has risen from less than 20 percent to 28 percent. “The attraction and retention of talent is a big challenge for businesses,” Shiozawa says. “That is a reason more and more companies are worried about the workforce.”

Figure 9. Brazil’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 90 88 86 84 82 80 78 76 74 72 2009/10

2010/11

Best Workplaces in Latin America 2014

2011/12

2012/13

2013/14

Other country and sub-region findings

Figure 10. Central American and Caribbean Best Workplaces: Trust Index Benchmark 2009/10-2013/14 86 84 82 80 78 76 2009/10

2010/11

2011/12

2012/13

2013/14

Figure 11. Ecuadorâ&#x20AC;&#x2122;s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 86 84 82 80 78 76 2009/10

2010/11

2011/12

2012/13

2013/14

23 Figure 12. Venezuela’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 86 84 82 80 78 76 2009/10

2010/11

2011/12

2012/13

2013/14

Figure 13. Bolivia’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 86 84 82 80 78 76 2009/10

2010/11

2011/12

2012/13

2013/14

Figure 14. Uruguay’s Best Workplaces: Trust Index Benchmark 2009/10-2013/14 86 84 82 80 78 76 2009/10

2010/11

2011/12

2012/13

2013/14

Best Workplaces in Latin America 2014

Regional Trust Findings Not only have trust levels at the best workplaces remained strong or gotten better in most Latin American countries, but another measure of the region’s best workplaces has improved over time. The companies on the Best Workplaces in Latin America have recorded higher Trust Index scores from 2006 to 2014. The regional benchmark score was just over 83 in 2006. Despite some ups and downs in intervening years, the 2014 benchmark was just above 87. That represents a gain of about 5 percent from 2006. One explanation for the improvement is that multinational companies in the region have been implementing enlightened, high-trust management methods developed in other parts of the world. A number of global companies well-known for their

healthy cultures have been mainstays on the regional best company list, including Kimberly Clark, Microsoft and Google. Another factor behind the regional rise is that national companies increasingly are learning from those global operations, as well as developing their own employeecentered practices. The idea that organizations ought to create a culture centered on trust, and that high trust can fuel better business results, is spreading throughout Latin America, says Shiozawa of Great Place to Work Brazil. “More and more companies have an awareness,” he says. A cultural feature of the region also may be driving higher scores—Latin America’s strong sense of pride. In fact, of the five dimensions

measured by the Trust Index (pride, camaraderie and three components of trust—credibility, respect and fairness), Latin America’s best workplaces are characterized by higher levels of pride than in any other region of the world (See Figure 15). “Latin American people are very emotional and very expressive,” says Gubbins of Great Place to Work in Peru. “If they win an award they want to express their pride about it.” On the other hand, Gubbins says, the leading companies in Latin America also have become less obsessed with winning the top spot on the “Best” lists. Of greater importance to them is simply placing anywhere in the ranking, and focusing on improving their cultures each year. “What really matters is that they improve against their own performance year after year,” she says.

Also important to more and more of the best companies is making a positive difference beyond their own walls. A number of best workplaces now devote resources to helping the families of their workers in extensive ways. Gases de Occidente, for example, will offer scholarships to members of its employees’ families so they can attend school and college. Liderman, for its part, offers no-interest loans and grants to employees so they can renovate their homes. Just as Gutiérrez de Piñeres of Gases de Occidente views his mission as partly to foster more civic-minded people in Colombia, Liderman’s Pérez Badiola says his company aims to counteract poor education and misguided management in Peru. Liderman strives to give employees who make mistakes multiple chances to succeed. “In our company, we’re not going to fire individuals right away,” he says. “We’re trying to transform people.”

Figure 15. Latin America Top 100 2014 compared to other regions

91 90

90 88 86 84

90 89

88 87 87

89 89

87 86

86 86 85 85

82 80 Latin America Top 100 2014

Europe Top 100 2013

USA Fortune Top 100 2013

Trust Index© Score

Credibility

Respect

Fairness

Pride

Camaraderie

Best Workplaces in Latin America 2014

Figure 16. Top 5 TI improvements since 2006 93 91 89 87 85 83 81 79 77 75 73 71 69 67 65 2006

2008

2010

2012

I want to work here for a long time People are encouraged to balance their work life and their personal life People avoid politicking and backstabbing as ways to get things done Managers avoid playing favorites Promotions go to those who best deserve them

2014

Trust Index data suggests Latin America’s best companies are making progress against a social and political backdrop often characterized by corruption and distrust. Three of the five survey questions that have seen the largest gains since 2006 concern fairness (See Figure 16).

Great Place to Work affiliates in Latin America have contributed to the social transformation under way at the best workplaces in the region. Colombia’s Urquijo, for example, says the business community in South America is by now very familiar with his and other Great Place to Work affiliates. “The Institute’s message is very well known,” he says. Chile’s Yazigi adds that the work affiliates do to crunch survey numbers and pinpoint problems for clients is more important than the lists affiliates publish. “Data analysis is key,” he says. There is more work to be done in Latin America. In companies and in society. The region is still in the early stages of shifting away from a culture of command and control—epitomized by the military dictatorships that ruled the region in the 1980s. The movement toward better workplaces—with their more participatory, transparent, humane cultures—have helped nurture the transition, Brazil’s Shiozawa says. “We are still in ‘teenage’ democracies,” he says. “These great companies are helping to build a better society.”

Best Workplaces in Latin America 2014

Fast Facts about the Best 100 Workplaces in Latin America 2014

Data Point

2014

2013

Percentage increase

# of participating companies in the contest

2,094

2,218

-6%

# of employees represented in the competition

3,634,467

3,487,635

# of valid surveys received

1,855,462

1,802,667

656,730

607,460

Great Place to Work速 countries contributing to list makers:

# of employees represented by the 100 companies

Figure 17. Number of participants historically

2500 2000 1500 1000 500 72 2007

2008

2009

2010

2011

2012

2013

2014

Best Workplaces in Latin America 2014

30 Costa Rica & Jamaica, 1% Uruguay, 2% El Salvador, 2% Panama, 2% Paraguay, Puerto Rico & Dominican R, 3% Bolivia, Honduras & Nicaragua, 3%

Brazil, 24%

Venezuela, 3% Guatemala, 3% Ecuador, 5%

Figure 18. Country Distribution

Argentina, 6%

Mexico, 14% Colombia, 10%

Peru, 11%

Chile, 11%

Agriculture, Public administration forestry and activities, 2% fishing, 2% Others, 4% Government Agencies, 4%

Financial Services & Insurance, 24%

Hospitality, 6%

Retail, 8%

Figure 19. Industry Distribution

Professional Services, 14%

Construction & Infrastructure, 12%

Information Technology & Telecommunications, 12%

Manufacturing & Production, 12%

Other Key Data

Top 2014

Top 100 2013

Top 100 2012

37 (RSA Seguros is the oldest one, 304 years old)

19%

18%

17%

19.254

20.471

26.102

Women in Executive positions

30%

24%

31%

Voluntary Average Employee Turnover

16%

14%

12%

Median Voluntary Turnover

Average Application rate

Fortbrasil: 31847 applications and 129 employees!

Google Mexico: 20481 applications and 74 employees

SC Johnson Venezuela: 21,300 applications and 128 employees

Average training hours

% Increase in revenues compared to last year

15%

Absenteeism

12%

% of companies that support employees with classes not related to work

54%

% of employees who answered positively to the overall statement â&#x20AC;&#x153;Taking everything into account, I would say this is a great place to workâ&#x20AC;?

92%

91%

93%

Years Old

Growth in terms of EEs New Jobs

Max Applications (the highest ratio of applications per employee)

Best Workplaces in Latin America 2014

Women, 45%

Figure 20. Gender Distribution

Men, 55%

Executive/ Senior Manager, 5% Manager/ Supervisor, 13%

Figure 21. Distribution by jobs

Staff non management, 81%

55 or older, 3% 45 to 54 years, 10%

25 years or younger, 36%

Figure 22. Distribution by age

34 to 44 years, 19%

26 to 34 years, 32%

Best Workplaces in Latin America 2014

Historic scores by list category 92 90

85 84

84 82

80 78 76 Top 25 MNCs

Top 25 Large 2012

Top 50 SMEs

2013

2014

Dimensions scores by category 94 92 90 88 86 84 82 80 78 Credibility

Respect

Fairness

Pride

Top 20 MNCs 2014

Top 50 SMEs 2014

Top 30 Large 2014

TI Average

Camaraderie

Scores by industry (for industries that have at least 5 companies) Professional Services Construction & Infrastructure Manufacturing & production Hospitality Information Technology & Telecommunications Financial Services & Insurance Retail 82

Best Workplaces in Latin America 2014

The List of the 100 Best Workplaces in Latin America

20 Mejores Multinacionales para Trabajar en América Latina 2014 Puesto

Compañía

Países

Industria

Kimberly Clark

Bolivia, Brasil, Chile, Colombia, Ecuador, El Salvador, Guatemala, Nicaragua, Panamá, Perú

Manufacturing and production / Personal care products

# empleados

Accor • Accor (Arg, Br, Ch, Pe) • Alameda Hotel Mercure (Ec) • ACCOR México Hoteles Ibis y Novotel (Mx)

Argentina, Brasil, Chile, Ecuador, México, Perú

Hospitality / Hotel / Report

8.750

Microsoft

Argentina, Brasil, Chile, Colombia, México, Perú

Information technology / Software

1.850

McDonald’s • Arcos Dorados

Argentina, Brasil, Chile, Colombia, Costa Rica, Ecuador, México, Panamá, Perú, Uruguay, Venezuela

Hospitality / Food and beverage services

91.331

Belcorp

Bolivia, Chile, Colombia, Ecuador, México, Perú

Retail / Specialized products

7.775

Dell

Brasil, México, Panamá

Information technology / Hardware

6.872

Cisco

Brasil, Chile, México

Information technology

1.178

Telefónica • Telefónica (Pe) • Grupo Telefónica (Arg) • Telefónica Movistar (Co, Ec, Mx) • Movistar (Uy, Ve) • Telefónica Servicios Comerciales (Pe) • Terra (Mx) • Vivo (Br)

Argentina, Brasil, Colombia, Ecuador, México (2), Perú (2), Uruguay, Venezuela

Telecommunications

51.775

Edenred • Cestaticket Services (Ven) • Ticket (Ch)

Brasil, Chile, México, Venezuela

Professional services

1.758

Marriott • JW Marriott (Br, Mx, Pa, Pe) • Renaissance São Paulo Hotel (Br)

Brasil (2), México, Panamá, Perú

Hospitality

1.841

RSA Seguros

Brasil, Chile, Colombia, México

Financial services and securities

1.713

Diageo

Argentina, Brasil, Chile, Colombia, Jamaica, México, Venezuela

Manufacturing and production / Beverages and tobacco

1.787

Monsanto

Argentina, Brasil, Guatemala, México

Manufacturing and production / Agriculture

5.838

855

Best Workplaces in Latin America 2014

38 Puesto

Compañía

Países

Industria

# empleados

SC Johnson & Son

Brasil, Chile, México, Venezuela

Manufacturing and production / Personal care and health products

1.358

Oracle

Brasil, México, Puerto Rico

Informatkon technology

2.870

Mapfre

Brasil, El Salvador, Honduras, México, Nicaragua, Panamá, República Dominicana, Paraguay

Financial services and securities/ General securities

8.322

BBVA • BBVA Provincial (Ve) • Bancomer (Banco & Seguros y Multiasistencia - Mx) • BBVA Continental (Pe)

Chile, México (2), Perú, Paraguay, Venezuela

Financial services and securities

48.120

Grupo Falabella • Falabella Retail (Arg, Ch, Pe) • Sodimac (Arg, Col, Pe) • CMR Falabella (Arg, Ch) • Hipermercados Tottus (Pe)

Argentina (3), Chile (2), Colombia, Perú(3)

Retail

47.411

Grupo Santander • Santander Rio (Arg)

Argentina, Chile, México

Financial services and securities

31.265

Atento

Argentina, Brasil, Chile, Colombia, El Salvador, Guatemala, México, Perú, Puerto Rico, Uruguay

Professional services / Outsourcing / Call centers

116.228

50 Mejores Compañías Nacionales para Trabajar en América Latina 2014 - Categoría de 50 a 500 colaboradores Puesto

Compañía

Países

Industria

Gases de Occidente

Colombia

Public services / natural gas

# empleados 465

Transbank

Chile

Financial services and securities / banking services

492

Acesso Digital

Brasil

Information technology

108

Qualisa

Ecuador

Agriculture and fishing

358

Zanzini Móveis

Brasil

Manufacturing and production / Furniture

437

Sacos de Atlántico

Guatemala

Construction and infrastructure

Eclass

Chile

Education and training

203

VisaNet

Perú

Financial services and securities / Banking services

243

Radix

Brasil

Information technology / Software

276

Construcciones El Cóndor

Colombia

Construction / Infrastructure

257

39 Puesto

Compañía

Países

Industria

# empleados

Jost Brasil

Brasil

Manufacturing and production / Automobiles

368

Pormade Portas

Brasil

Construction

430

Forex Chile

Chile

Financial services and securities

154

Consórcio Luiza

Brasil

Financial services and securities

156

Hocol

Colombia

Manufacturing and production

194

Dextra

Brasil

Informaton technology / Software

129

SJ Administração de Imóveis

Brasil

Construction

124

RBM Redeban Multicolor

Colombia

Information technology / /

494

Universales Guatemala

Guatemala

Financial services and securities

219

Banco General Rumiñahui

Ecuador

Financial services and securities

448

Grupo SinAgro

Brasil

Retail

256

ABA

Brasil

Education and training

179

Grupo Karims • Pride Manufacturing/ Pride Yarn • Green Valley Industrial Park

Honduras

Manufacturing and production

567

Moinho Globo Alimentos

Brasil

Manufacturing and production

168

Cámara de Comercio de medellín para Antioquia

Colombia

Social services and government agencies

408

Agreca

Guatemala

Construction

258

Administración Portuaria Integral de Lázaro Cárdenas

México

Social services and government agencies

Seguros Confianza

Colombia

Financial services and securities

342

Floreloy

Ecuador

Agriculture

161

Terminal de Contenedores de Cartagena -Contecar-

Colombia

Port operator

316

Real Plaza

Perú

Sonstruction

290

Touch Tecnología

Brasil

Information tecnology / Software

125

Sinacofi

Chile

Financial services and securities

106

Brasil

Professional services / Consulting

140

ELO GROUP

Best Workplaces in Latin America 2014

40 Puesto

Compañía

Países

Industria

# empleados

Guarida Imoveis

Brasil

Construction

422

Apoyo Consultoría

Perú

Professional services

121

Sicoob Metropolitano

Brasil

Financial services / Banking

288

Inversiones Centenario

Perú

Construction

157

Construtora Saraiva De Rezende

Brasil

Construction

200

Sydle

Brasil

Information technology / Software

106

Acripel Farma

Brasil

Medical supplies

234

Maestranza Diesel

Chile

Manufacturing production

Visagio

Brasil

Ceará Diesel

Brasil

Retail

170

Interbanking

Argentina

Information technology / Software

241

Promigás

Colombia

Public services / natural gas

401

Latinoamericana de Construcciones -Latinco-

Colombia

Construction

250

H. Strattner

Brasil

Medical supplies

262

Fortbrasil

Brasil

Financial services and securities

126

Portal Educação

Brasil

Education and training

173

and

Professional services / Engineering

466

245

30 Mejores Compañías Nacionales para Trabajar en América Latina 2014 - Categoría Más de 500 colaboradores Puesto

Compañía

Países

Industria

Líderman • Líderman (Pe) • Asevig (Ec)

Ecuador, Peru

Servicios profesionales

# empleados 11.021

BancoEstado Microempresas

Chile

Financial services and securities

1.089

Laboratório Sabin

Brasil

Healthcare

1.320

Gazin

Brasil

Retail

6.175

Interseguro

Perú

Finanical services and securities

520

41 Puesto

Compañía

Países

Industria

# empleados

Sama

Brasil

Mining

Fideicomisos Instituidos en Relación con la Agricultura (FIRA. Banco de México)

México

Social services and government agencies

1.131

CinePlanet

Perú

Hospitality

1.867

Aseguradora Solidaria de

Colombia

Financial services and securities

695

885

Colombia 10

Cementos Progreso

Guatemala

Construction

1.576

Embraer

Brasil

Aerospace

16.535

Interbank

Perú

Financial services and securities

6.535

Casa Andina

Perú

Hospitality / Hotel / Resort

1.089

Gentera (antes Grupo Compartamos)

México

Financial services and securities

15.328

Magazine Luiza

Brasil

Retail

24.184

BanBif

Perú

Financial services and securities

1.309

Banco Bradesco

Brasil

Financial services and securities

66.722

APAP

República Dominicana

Financial services and securities

895

Liverpool

México

Retail

Rota do Mar

Brasil

Manufacturing and production Textiles

546

PacifiCard

Ecuador

Financial services and securities

531

Proexport Colombia

Colombia

Social services and government agencies

536

Supermercados S-Mart

México

Retail

11.000

Ourofino Agronegócio

Brasil

Biotech and pharmaceuticals

1.297

Infonavit

México

Construction

4.000

Grupo Vidanta

México

Hospitality

6.000

Fundación Teletón México

México

Non-governmental organization

2.886

Banco de Occidente

Colombia

Financial services and securities

8.923

Isapre Cruz Blanca

Chile

Healthcare

1.726

Vidrio Plano de México LAN (Plantas García y México)

México

Manufacturing and production

1.100

7.500

Best Workplaces in Latin America 2014

Profiles of the Three Top Companies Best Multinational Company to Work for in Latin America 2014

Kimberly-Clark puts as much energy into the care of its workplace culture as it does into the personal care products it sells.

Winner

Kimberly-Clark

From its thorough hiring and onboarding practices, to the gift baskets it gives to employees who have babies, to a global ideas “jam” for sharing ideas about the business, the company never loses sight of what it calls the “Kimberly-Clark Kulture” (La Kultura de Kimberly– Clark). And employees appreciate the focus on their wellbeing, including the fundamental issue of providing safe factory working conditions. “Industrial safety is a priority,” one employee says. “They care for me so that I don’t injure myself.”

That attention to workplace culture and environment has propelled Kimberly-Clark to the top of the list of the best multinational workplaces in Latin America this year. Kimberly-Clark has been manufacturing products such as Kleenex tissues in Latin America since the 1960s. And although the company is based in Dallas, Texas, in the United States, it has proven to be dedicated to its workforce and culture in Latin America. That workplace climate emphasis begins with hiring. Apart from considering candidates’ technical skills, academic qualifications and experience, Kimberly-Clark El Salvador checks to see that potential employees will live up to six key behaviors. These include seeking to achieve results every day, understanding client needs and demonstrating both honesty and respect for different points of view. What’s more, new hires are not merely plopped in front of a desk or factory equipment. On-boarding at Kimberly-Clark El Salvador includes “Kulture Coaches”—a dedicated team of company officials who welcome new hires and share information with them. New employees also are assigned a “buddy” to answer questions. This pairing helps newbies see their orientation “as a process, more so than as a single learning event,” as the company puts it. On their first day at work, the new employee is shown their work space, is introduced to their new colleagues and provided lunch to make them feel comfortable.

That’s just the start of a rich company culture. Kimberly-Clark speaks of its work atmosphere as a place for employees to live out an experience of “heart and mind” each day, one that allows them to grow as a person and a professional. And the company puts its money where its motto is concerning personal growth. For example, KimberlyClark Venezuela celebrates mothers with newborns in its workforce with a giftbasket including Huggies products as well as roughly $125 (800 Bsf.). In the baby’s second year, the employee is given another gift of $145 (900 Bsf.). But Kimberly-Clark is about much more than baby-related warm fuzzies. It also is about business competitiveness—in fact it calls the Kimberly Clark Kulture a “Winning Culture.” To that end, it taps its workforce in Latin America and around the world to try to improve results. At a “One K-C Culture Jam” not long ago, more than 16,000 employees from more than 60 countries gathered online to share thoughts and ideas. More than 22,000 comments were received, including ideas related to the company’s products and culture. Overall, the Kimberly-Clark culture is contributing to the company’s success. Consider its growth in Venezuela, where social and political unrest has affected the country in recent years. Kimberly-Clark sales in Venezuela rose to $361 million in 2012, up 33 percent from the year before. And despite the social tensions in Venezuela, the country reached a three-year union accord in June, 2013.

Best Workplaces in Latin America 2014

One employee describes the Kimberly-Clark climate this way: “We all know each other and we’re headed for the same objective and we support each other.”

Best Large National Company to Work for in Latin America 2014

Winner

Liderman

In recent years, for example, Liderman has been offering interestfree loans and grants to employees for the purpose of renovating their homes—a perk that improves the lives of team members and their immediate families. As a security services company, Liderman’s business is about taking care of valuables. But Liderman’s success starts with taking care of its own employees. That and cultivating a climate of trust. The Peruvian-based company ranked as the top large national company to work for in Latin America on the strength of a culture characterized by two-way communication, approachable leadership and benefits that increasingly extend to employees’ families.

Liderman, with some 11,000 employees in Peru and Ecuador, also may be the only company in the world with a 24-hour radio station devoted to employees. The station plays music as well as shares company information. This service is a creative way to stay connected to its employees, many of whom work as security guards throughout the lonely hours of the night. And guards and other employees also have the ability to call a company operator to discuss work issues anytime of the day or night.

These extraordinary measures to foster connectivity are part of Liderman’s conscious effort to build a positive work environment. The company’s CEO Javier Calvo Pérez Badiola even calls himself “culture guardian.” Pérez Badiola says a trusting culture is particularly critical in the security industry in Peru. Criminal acts often go unpunished in the country, he says. And temptations to rob or steal while on the job are significant. A Liderman security guard earning $400 a month may be responsible for safeguarding jewelry or other valuables worth $10,000,000, Perez Badiola says.

Pérez Badiola calls Liderman’s culture a “human culture.” The focus on caring relationships with employees and their families is invaluable to Liderman, but it has been earned over time, Pérez Badiola says. “It definitely takes years to develop,” he says.

But the company turns this enticement on its head with a motto that stresses personal integrity: “We are worth what we care for (“valemos tanto come lo que cuidamos”).” Liderman’s workplace culture doesn’t just benefit employees. It has brought business success, Pérez Badiola says. The company’s high level of trust means fewer middle managers are needed to supervise staff. And the firm’s record of dependability has leant it such prestige that major global businesses turn to Liderman in Peru. Among the company’s clients are Telefonica, Kimberly-Clark and Hilton. What’s more, the success in Peru has prompted Liderman to expand into Ecuador.

Best Workplaces in Latin America 2014

Best Medium-size Company to Work for in Latin America 2014

Winner

Gases de Occidente

Gases de Occidente has been in business for 15 years. It was founded on an employee-first philosophy, Gutiérrez de Piñeres says. “We started from the beginning with this principle that we have to respect the people, care for the people,” he says.

Arturo Gutiérrez de Piñeres sees his job as much more than providing natural gas to the southwest región of Colombia. To Gutierrez de Pineres, serving as general manager of Gases de Occidente is also about creating a workplace culture that inspires upstanding behavior among his 471 employees and ultimately betters Colombia. “We need good citizens in our country,” he says. “So we are preparing our people to be good citizens.” This commitment to improving society, along with generous benefits and close attention to nurturing a high-trust work environment, has helped to make Gases de Occidente the top medium-sized workplace in Latin America this year.

Gases de Occidente’s corporate culture starts with its hiring. In assessing job candidates, 50 percent of their evaluation centers of technical skills. The other half of the evaluation concerns character, including interpersonal relationship skills. “We look for people who can relate to others with good humor, who are kind,” Gutiérrez de Piñeres says. Once they join the company, employees—and their families--can expect plenty of support in terms of their personal and professional development. For example, Gases de Occidente will help pay an employee’s tuition to attend college, if the course of study directly relates to their job. The amount of the support varies depending on the employee’s grades, and can cover as much as 90 percent of the fees. Educational grants also are available to family members of employees.

Gases de Occidente team members also benefit from a strong focus on hiring from within. Last year, more than half of the open Jobs—36 of 63—were filled by internal candidates. These sorts of people practices have fueled the utility’s company’s business results. Earnings before interest, taxes, depreciation and amortization—or EBITDA—rose 18 percent last year. EBITDA per employee climbed from $146,000 per person to $162,000 per person. Gutierrez de Piñeres says practices designed to create a caring, respectful culture are key to longterm success. “These policies are good for sustainability in our business,” he says. Promoting values like trust and responsiblity in the workplace also aids the region’s development—and more and more businesses are taking on this task. “We share a lot of information with companies from Chile, Ecuador, Bolivia, Peru,” Gutierrez de Piñeres says. “We all have corporate social responsibility policies. In Latin America, we think this is a good way to influence society.”

Best Workplaces in Latin America 2014

Awards and Award Winner Profiles Great Place to Work® would like to recognize three companies for extraordinary practices in three of the nine Culture Audit© Practice Areas. As part of 100 Best Workplaces in Latin America in 2014, Great Place to Work® is proud to present three special awards for Community Involvement, Innovative Hiring, and a Culture of Fun. The award winners were chosen from among the 100 companies that appear on this year’s three lists. All companies were eligible, regardless of size. To be considered for the award, we looked at the breadth and variety of programs and policies in each of these areas that distinguish Best Workplaces from their counterparts. The awards are based upon the nine Culture Audit(c) Practice Areas, the areas where companies can effectively build high levels of trust – and therefore a great workplace. The nine practice areas are organized along three core themes: achieving organizational objectives; people giving their personal best; and working together as a team or family.

Best Workplaces in Latin America 2014

We present three awards each year, cycling through one of these three core themes. This year’s awards cover the theme of “Working together as a team or family” and feature awards for Sharing (community involvement), Hiring (innovative hiring) and Celebrating (a culture of fun).

SHARE “Involvement in the Community”

Winner:

Microsoft Chile Runner Up: - Sodimac Latinoamérica - Telefónica Movistar Latinoamérica

Microsoft Chile earns this award because its community impact initiatives are generated and delivered by employees, and because they integrate seamlessly with Microsoft’s vision. Instead of employees volunteering in programs chosen in a top-down way by the company, Microsoft employees designed and provided training programs for the community based on the needs they saw. Microsoft has a mission to narrow the technological gaps across communities and social classes in order to allow individuals and businesses to reach their potential. In Chile, employees have worked to reach this goal through a number of initiatives. In one case, Microsoft employees worked with both their hands and minds with a group called “Roof.” Employees took a day off of work to

build a meetinghouse in a marginal area of Chile’s capitol Santiago. The purpose of the facility involved giving new opportunities for children and parents in the area through technology workshops and classes. Another Microsoft initiative in Chile is the support provided to an institution that grants credit to lowincome entrepreneurs in rural areas. Microsoft employees created a program called “Boost your Business through Technology,” in which they trained people on the basics of how to develop small businesses and became active participants in the development of the businesses. Microsoft Chile employees also have a “Social Action” program. This involves quarterly projects to help citizens in need, such as collecting clothes in winter for children.

HIRE “Innovative Hiring”

Winner:

Banco Santander Rio Argentina Runner Up: - Dell Latinoamérica - Transbank Chile Banco Santander Rio Argentina wins this award because it has a wide variety of recruiting programs that reflect their unique corporate culture, consider people at different career stages and provide personalized experiences to candidates. To attract young talent, Santander Rio grants scholarships to university students to work for a number of months as interns. For both new graduates and experienced workers, the company relies partly on technology. Rio Santander has established a strong social media presence. The bank connects with candidates and employees through Facebook. In addition, the Rio Santander corporate blog acts as a recruiting tool. This blog, open to the public, narrates what it is like to work in Rio Santander. By exposing their culture and practices, the bank allows job seekers to evaluate how well they would fit prior to applying for jobs. Rio Santander employees help

disseminate the blog content. Team members can include a link to the blog in their LinkedIn profiles and forward it to colleagues and friends, inviting those contacts to post comments. In this way, the company encourages a personal connection with possible new recruits. The attention to close relations continues with the interviewing process at Rio Santander. Job candidates have “cultural fit” interviews not only with human resources officials and hiring managers, but also with members of the teams they might join. Rio Santander’s recruiting isn’t just about external candidates, however. The bank also emphasizes promotions from within the organization. It provides a tool called “My Profile” that allows employees to document their expectations and interests, and is part of the way company encourages employees to take charge of their careers.

Best Workplaces in Latin America 2014

CELEBRATE “Culture of Fun”

Winner:

Atento Peru Runner Up: - Kimberly Clark Salvador - Gazin The call center services company wins this award because it puts fun in the hands of employees. A group of employee volunteers called the “motivators” generates ideas for new activities, proposes innovative projects, and polls employees regarding their preferences. In addition to counting on the “motivators,” Atento Peru regularly gathers data from employees about activities. The company frequently checks in with focus groups of team members, and also surveys employees right after events to gauge satisfaction levels. Among the fun activities at the company are marathons, talent shows and anniversary celebrations.

Methodology The following is a description of the methodology used for the countryby-country analysis of trust trends, the examination of regional best workplaces over time, and the annual Best Workplaces in Latin America list.

Country-by-Country Analysis Our study of trust levels in the best workplaces in different countries from 2009/10 to 2013/14 centers on Trust Index scores. Trust Index scores reflect the average response of employees to 58 statements that capture the trust, camaraderie and pride within a company. The scores for all the statement are averaged for an overall company Trust Index score. We took the average of overall Trust Index scores for all companies

on national best workplaces lists to create a Trust Index benchmark for each country for each year in the study. By national lists, we refer to the central annual lists of best workplaces published by Great Place to Work affiliates in Latin America. We did not include local or industryspecific lists such as those produced for Rio de Janeiro in Brazil or the telecom industry in Mexico. Nor did we include the Mexico list of the best government agencies to work for. The standards by which companies earned positions on some national lists in Latin America rose between 2009/10 and 2013/14. This increase may partially explain the rising trust levels in best workplaces in some

Best Workplaces in Latin America 2014

companies. But it would be a mistake to view the trust level gains as merely reflecting a higher bar that a reduced number of organizations could clear. Four of the seven countries with increased trust in their best workplaces either saw the number of companies on their list remain the same or grow from 2009/10 to 2013/14. Countries with additional companies on their lists include Chile, the country with the largest jump in Trust Index scores.

Regional Best Workplaces Analysis The regional analysis is based on Trust Index scores of companies on the Best Workplaces in Latin America lists. For each year from 2006 to 2014, we found the average of overall Trust Index scores for the companies on the Best Workplaces in Latin America list to create an annual benchmark.

The Best Workplaces in Latin America 2014

In 2014, the Best Companies to Work for in Latin America appear in three lists:

A company must have appeared on a best workplace list in one of the countries of Latin America in order to be a candidate for the regional list. All the companies appearing on a national best workplace list in Latin America are evaluated with the same methodology: the Trust Index employee survey, which counts for 2/3 of the final grade, and the Culture Audit evaluation of people practices and policies, which counts for the final 1/3 of the grade.

• Best Multinational Workplaces • Best National Workplaces – More than 500 employees • Best National Workplaces – Between 50 and 500 employees To come up with the three lists, candidate companies were divided into two groups, one for domestic and the other for multinational companies. Additionally, domestic companies were divided into two groups according to the number of employees in their workforce. This approach allows us to compare companies with the same profile.

Best Workplaces in Latin America 2014

Multinational companies were eligible for inclusion on that list if they met the following criteria: • The company had at least 1,000 employees worldwide • At least 40% of the company’s employees work outside the country where it is headquartered • The company has been recognized on at least three national lists in Latin America To create the regional lists, companies are evaluated and win a place on the list using the same criteria that earns them the right to appear on a national list. However companies competing within multinational category receive extra points according to the number of countries in which they participate in the region, as well as the total number of employees who engaged in the survey process. Consequently, multinational companies receive credit for their efforts to become a great workplace if they survey

employees in several countries. The more countries in which a company is participating in a national Best Workplaces List competition and the more employees they cover in the survey, the higher the credit the company receives. When multinationals become part of a regional list they can only occupy one position on the list. The scores of these companies are averaged and weighted by the number of workers surveyed. Multinational scores are only averaged for companies that share a common culture—as seen by consistent human resources policies and practices as well as shared values-between countries.

Best Workplaces in Latin America 2014