People Power: 2015 Best Workplaces in Latin America

Las Mejores Empresas para Trabajar 2015 AmĂŠrica Latina

Great Place to WorkÂŽ

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People Power 2

Annual Best Workplaces in Latin America List

Great Place to Work® Releases its 12th Annual Best Workplaces in Latin America List; Microsoft, Elektro Electricidade e Serviços, and Acesso Digital take top honors.

New analysis shows key experiences of workers at the best companies in Latin America include being treated as a person not just an employee, having managers who live up to their word and a “family” feeling at work.

Research also shows that employees’ willingness to give extra effort is closely associated with a cooperative, wellmanaged team.

Great Place to Work®

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Table of Contents:

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Annual Best Workplaces in Latin America List

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Introduction

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About Great Place to Work速

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Background and Findings

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Discussion

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The Great Workplace Era Takes Shape in Latin America

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Company and Employee Profiles

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Fast Facts about the Best 100 Workplaces in Latin America 2015

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The List of the 100 Best Workplaces in Latin America

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Methodology

Great Place to Work速

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Introduction Some years ago, Brazilian power distribution company Elektro Electricidade e Serviços focused most of its investments on better technology. The human beings working at Elektro weren’t as high a priority.

To a significant degree, they were treated as cogs in the machinery that delivered electricity to some 6 million people in São Paulo and neighboring areas.

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Annual Best Workplaces in Latin America List

That may explain why the company suffered roughly a dozen accidents a year in the late 2000s, including two workplace deaths in 2007.

Things changed, though, when Marcio Fernandes became president of the company in 2011. In effect, Fernandes reversed the polarity between technology and workers at Elektro .

“

For many years we were focused on investing in machines,” Fernandes says. “After this, we decided to invest strongly in the people.”

That investment took the form of new career paths and development opportunities for employees, so that electricians, for example, could transform themselves into engineers. It also included increased commitment to the safety of its people. The company became one of the first in the Brazilian power industry

– residente P – s e d ernan Serviços Marcio F e e d a id lectric Elektro E Great Place to Work®

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Introduction to embrace a Zero-Accident vision, meaning it expected to reduce its annual workplace injuries to zero.

To reach this goal, it adopted behaviorbased safety training—a relatively new, data-driven approach to preventing workplace accidents.

So far, it looks as if Fernandes’ decision to flip the switch toward people has electrified Elektro’s results. The company of some 3,700 employees had just three minor safety accidents in 2014, and it had yet to record an injury as of early April, 2015. While accidents have dropped, profitability has soared.

From 2012 to 2014, Elektro enjoyed a 31% jump in a key measure of earnings.1 What’s more, during the same two-year period Elektro’s service quality, measured by power outage duration, improved 15%.

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Annual Best Workplaces in Latin America List

Fernandes calls Elektro’s surge in recent years a “double success: the people first and secondly the company became more efficient, more productive.”

1 Elektro experienced a 31 percent increase in EBITDA, or earnings before interest, taxes, taxes, depreciation and amortization.

Elektro’s emphasis on people is part of a broader pattern among the best workplaces in Latin America.

As Great Place to Work releases our 12th annual list of the region’s best workplaces, a new analysis shows that a key experience of workers at the best companies in Latin America is being treated as a person—not just an employee.

The examination of roughly 2.1 million employee responses to our Trust Index© survey also shows that management’s credibility and a “family” feeling at work closely correlate with overall workplace greatness.

Employees at great workplaces are more engaged, and this year we also studied what factors are associated with employee willingness to give

extra on the job in Latin America. We found that an above-and-beyond work ethos is likely to be found in companies with cooperative, wellmanaged teams.

These findings related to employee engagement and to making a workplace great in Latin America help provide a road map to business leaders in the region. In addition, the companies that have earned a place on this year’s regional list serve as successful role models. Topping this year’s list are Microsoft, in the category of the Best Multinational Workplaces; Elektro in the category of Best Large Workplaces (500+ employees); and Acesso Digital, a Brazilian information technology firm, in the category of Best Small & Medium Workplaces in Latin America (50-500 employees).

Great Place to Work®

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Introduction

These companies reflect a broader, worldwide movement. The best workplaces in Latin America, along with their counterparts in other regions of the globe, are leading the way into a brighter future. We call it the “Great Workplace Era.” It refers to a time when all people can expect to work at a company where they trust their leaders, take pride in what they do, and enjoy their coworkers. When work makes for a better world, one employee at a time.

The best workplaces in Latin America show there is power in empowering people. Power not just to lift the bottom line, but to elevate the human spirit.

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Annual Best Workplaces in Latin America List

“What is most important to us is the development of the people,” Fernandes says. “They are increasing their possibilities and they are changing their future.”

e r a y e h t and ing g n a h . c e r u t u f r i e h t

Great Place to Work速

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About Great Place to Work Great Place to Work速 has conducted pioneering research on the characteristics of great workplaces for more than 25 years.

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Annual Best Workplaces in Latin America List

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 more than 50 countries around the world, we are proud to:

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ry adviso r u o focus ough , r y h t e v s r e u s tur d ployee ce cul a l m p e ops an k h r © s o x k r e w o d t st In grea pport nal w u u r n o i i s T t a t s a e s e c h ic su .t du ls (e.g ry serv ool); e te and t o o a s t o i e t n nique r v e c n u d o a m s s i ’ t e p c k i c i r o n l e g o e ve oll compa d strat ce to W rking nal de data c n a o l r i a u s P ; s t O m e a . f re es ma pro yste servic tion. G bench a ning s egree z n d d i a e n l l r 0 a e p l 6 s, 3 y org for ou paral ction n t n a a h u ; g n s r i i group s e h m f f it in ra us to o cess w g prog mation o s r n r i o w p f n i o s l n a l n r t tio ra aa , and t sforma ce dat n n a l o a i p t r t k a r e th wo form o best tice in t c s a r s p e st acc ies, be t i n u t r oppo lients. c g n i t l consu

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Latin America offices: Argentina Bolivia Brazil Central America and the Caribbean Chile

Colombia Ecuador Mexico Paraguay Peru Uruguay Venezuela

Great Place to Work®

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Background and Findings It was a dispiriting year of difficult economic conditions in much of Latin America in 2014. And 2015 doesn’t look much better. “Another Year of Subpar Growth,” was the title of a recent blog

by Alejandro Werner, Director of the Western Hemisphere Department of the International Monetary Fund.2

2 http://blog-imfdirect.imf.org/2015/01/21/yetanother-year-of-subpar-growth-latin-americaand-the-caribbean-in-2015/

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Annual Best Workplaces in Latin America List

“Worries dominate across much of Latin America and the Caribbean today, as 2015 marks yet another year of reduced growth expectations,” Werner wrote.

“Regional growth is projected at just 1¼%, about the same low rate as in 2014 and almost 1 percentage point below our previous forecast.”

The grim outlook, driven in part by low commodity prices, makes it more important than ever to develop a great workplace culture. That’s because best workplaces have proven, in Latin America and worldwide, that they outperform competitors. While Brazil’s overall economy grew just 0.9% in 2012 and 2.5% in 2013, the Best Workplaces in Brazil saw revenues jump 18.2% in 2013. Or consider the results of a study of telecommunication giant Atento in Brazil: a 12% increase in employee satisfaction levels on the Trust Index at Atento from 2010 to 2013 corresponded with a 13% jump in client satisfaction.

Great Place to Work®

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Background and Findings A recent study by Great Place to Work® Mexico 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. And these connections between excellent workplaces and excellent business results are found around the globe. For example, a paper published last year by the European Corporate Governance Institute studied data from 14 countries and concluded that higher levels of employee satisfaction—reflected by earning a spot on a best workplaces list generated by Great Place to Work®— corresponded to stock market outperformance in countries with high levels of labor market flexibility, such as the United States and the United Kingdom.3

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Annual Best Workplaces in Latin America List

Great Place to Work has found that the core elements of trust in managers, pride in the job and camaraderie with coworkers are central to great workplaces around the world. But outstanding workplace cultures take on the flavor of their particular country and region. To help companies in Latin America get a better understanding of how to get better and become great, we studied factors associated with workplace greatness this year. We also studied factors that correlate with employee willingness to give extra effort.

In the first place, we examined which of the 58 statements on the Trust Index employee survey were most closely associated with the overall average Trust Index score for best workplaces in Latin America. We 3 Alex Edmans, Lucius Li, Chendi Zhang, “Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World,” European Corporate Governance Institute (ECGI) - Finance Working Paper No. 433/2014, July 2014, http://papers.ssrn.com/sol3/ papers.cfm?abstract_id=2461003 .

found that great workplaces are most likely to be found in cultures that emphasize the human touch, where leaders live up to their word and where a “family” feeling permeates the company.4 See Figure 1.

We also compared the findings from Latin America to those of other regions, and discovered a number of similarities and differences.5 In particular, we found that a family feel in the workplace and effective coordination of talent is associate with workplace greatness in Latin America especially. See Figures 2-4.

4 For our study of factors associated with workplace greatness, we used the squared correlation coefficient method to calculate “r2” values for different Trust Index statements in different regions. The larger the r2 value, the more variability in the statement explains variability in the overall Trust Index score of the best workplaces from a particular region..

5 In our region analysis, we considered 100 Best Workplaces from North America, Europe and Latin America. For Asia, we considered the 60 companies on the list of Asia’s Best Workplaces.

Great Place to Work®

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Background and Findings Figure 1. Top Factors Associated with Workplace Greatness in Latin America 0,90 0,88

r2 value

0,86 0,84 0,82 0,80 0,78 0,76 0,74

Management shows a sincere interest in me as a person, not just an employee.

Management delivers on its promises.

Management’s actions match its words.

There is a “family” or “team” feeling here.

Management does a good job of assigning and coordinating people.

Figure 2. Top Factors Associated with Workplace Greatness in North America 0,90 0,88

r2 value

0,86 0,84 0,82 0,80 0,78 0,76 0,74

Management shows a sincere interest in me as a person, not just an employee.

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Management’s actions match its words.

We’re all in this together.

Annual Best Workplaces in Latin America List

Management delivers on its promises.

People look forward to coming to work here.

Figure 3. Top Factors Associated with Workplace Greatness in Europe 0,90 0,88

r2 value

0,86 0,84 0,82 0,80 0,78 0,76 0,74

Management delivers on its promises.

Management’s actions match its words.

Management Management involves people in genuinely seeks decisions that affect and responds to their jobs or work suggestions and environment. ideas.

Everyone has an opportunity to get special recognition.

Figure 4. Top Factors Associated with Workplace Greatness in Asia 0,90 0,88

r2 value

0,86 0,84 0,82 0,80 0,78 0,76 0,74

Management delivers on its promises.

Promotions go to those who best deserve them.

If I am unfairly treated, Management’s I believe I’ll be given a actions match fair shake if I appeal. its words.

I can ask management any reasonable question and get a straight answer.

Great Place to Work®

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Background and Findings Great Place to Work research has demonstrated that employees at great workplaces are more engaged. To build on this insight, this year we also studied what factors are associated with employees’ willingness to go above and beyond expectations in Latin America’s best workplaces. In particular, we studied correlations between statements on the Trust Index and this statement: “People here are willing to give extra to get the job done.” We found that extra effort by employees is likely to be found in companies with cooperative, well-managed teams. See Figure 5.6

Figure 5. Top Five Correlations with a Climate of Extra Effort in Latin America You can count on people to cooperate.

0.82

Management does a good job of assigning and coordinating people.

0.81

We’re all in this together.

0.80

People look forward to coming to work here.

0.80

Taking everything into account, I would say this is a great place to work.

0.78

6 Analysis is based on a linear correlation of Trust Index statements with the statement “People here are willing to give extra to get the job done”. Positive correlation exists when the correlation coefficient, or R value, is larger than .05. The closer it is to one, the stronger the correlation.

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correlation coefficient

Again, we compared these findings with those of other regions. And again, management’s competence at assigning and coordinating the workforce stands out in Latin America.7 See Figures 6-8.

7 In this analysis of top correlations with a climate of extra effort by region, we considered 100 Best Workplaces from North America, Europe and Latin America. For Asia, we considered the 60 companies on the list of Asia’s Best Workplaces.

Annual Best Workplaces in Latin America List

Figure 6. Top Five Correlations with a Climate of Extra Effort in North America

correlation coefficient

Management hires people who fit in well here.

0.81

You can count on people to cooperate.

0.81

People look forward to coming to work here.

0.80

Management is approachable, easy to talk with.

0.74

We’re all in this together.

0.73

Figure 7. Top Five Correlations with a Climate of Extra Effort in Europe

correlation coefficient

You can count on people to cooperate.

0.82

Everyone has an opportunity to get special recognition.

0.75

People here are given a lot of responsibility.

0.75

Management genuinely seeks and responds to suggestions and ideas.

0.74

We’re all in this together.

0.73

Figure 8. Top Five Correlations with a Climate of Extra Effort in Asia

correlation coefficient

People care about each other here.

0.82

Management hires people who fit in well here.

0.80

Taking everything into account, I would say this is a great place to work.

0.80

You can count on people to cooperate.

0.79

People avoid politicking and backstabbing as ways to get things done.

0.77

Great Place to Work®

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Discussion

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Annual Best Workplaces in Latin America List

“ This emphasis on effective coordination of talent may have to do with the way many Latin American employees work longer hours than employees in more developed countries.8 Jaime Bárcenas, Senior Manager at professional services firm EY and a professor at Pontifical Xavierian University (Pontificia Universidad Javeriana) in Bogota, Colombia, points to demanding hours in the consulting field in particular, and to changing attitudes about work.

Jaime Bárcenas - Senior Manager at EY

Barcenas sees younger employees in business consulting chafing against the traditional expectation of long workweeks in the region. “They are less willing to tolerate extra hours,” he says. “They think it is related to poor planning.”

Because work days can be so long, and are often exacerbated by long commutes, Millennials in consulting firms may be especially appreciative of effective work coordination that leads to fewer hours on the job, Barcenas says.

8 See Figure 6 in “Working time in the twentyfirst century,” International Labour Organization, 2011, p. 20.

Great Place to Work®

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Discussion

“

The importance of a family feel to a great workplace in Latin America is not surprising to Giancarlo Raicovi, Assistant Manager of Recruiting and Selection at Peruvian financial services firm Interbank. Family ties are central to the culture of Latin America, Martin says. And when Interbank, which ranks as the 18th best large workplace in Latin America this year, studied its own workforce not long ago, it discovered that employees want the company to be part of their family.

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Annual Best Workplaces in Latin America List

Giancarlo Raicovi - Assistant Manager of Recruiting and Selection - Interbank

“That’s exactly what we try to do,” Raicovi says. “Employees feel that this company is an extension of their other family.”

The workplace as a family also describes the culture at Diverza, a provider of electronic billing and tax services located in Monterrey, Mexico. Diverza, which ranks as the 13th best small and medium workplace in Latin America this year, makes employees feel at home through birthday celebrations, parties around holidays, open communication with senior leaders and an informal dress code—which stands out given the typical expectations of business attire in Mexico.

“I can wear jeans every day,” says Alba Romero, who oversees facilities, internal communications and recruitment at Diverza.

“It’s a little thing that makes a difference.”

“ Lizette Alalú, Chief Operations Officer of Great Place to Work® Peru, also calls attention to the significance of leadership in forging a great workplace in the region. “It is important to note that four out of five of the key drivers for workplace greatness in Latin America have to do with management,” Alalú says. “This supports the fact that leaders and their relationship with employees day in and day out is what defines a great workplace.”

Lizette Alalú – COO Great Place to Work® Peru

Indeed, a personal relationship with managers is one of the things Interbank cashier Adrian Jimenez appreciates about his workplace. Jimenez, 23, is close to finishing a university degree in business. He was impressed that his supervisors worked with him to plan out his next move at the bank once he gets his degree.

“They said, ‘We will find you another job,’” Jimenez says. “They make me feel important.”

Great Place to Work®

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The Great Workplace Era Takes Shape in Latin America

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Annual Best Workplaces in Latin America List

Overall, companies like Interbank and other best companies in the region maintained a similar level of workplace excellence in the eyes of employees this year. The Trust Index benchmark for Latin America’s best workplaces—that is, their average score on the Trust Index—dipped slightly compare to last year.

But the trend over the past decade is clear: Latin America’s best are getting better. See Figure 9.

Trust Index Benchmark of the 100 Best in Latin America, 2006 - 2015 89

Trust Index Benchmark

88 87 86 85 84 83 82 81 80

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Great Place to Work®

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The Great Workplace Era Takes Shape in Latin America

Latin America’s best workplaces are part of a broader, worldwide movement. The best workplaces throughout the globe have been getting better and are leading the way into a brighter future.9

We call this new economic age the “Great Workplace Era,” and it refers to a time when all people can expect to work at a company where they trust their leaders, take pride in what they do, and enjoy their co-workers.

t a e e r c G rkpla o W a r E 9 Ver http://www.greatplacetowork.com.ar/mejores-empresas/ las-mejores-multinacionales-del-mundo/informe-2014

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Annual Best Workplaces in Latin America List

A variety of forces are propelling businesses toward better cultures. Among them:

Millennials They want balance and meaning at work.

Innovation Individual employees are more likely to risk sharing novel ideas in a climate in which they feel a measure of security and are proud of what they do. In addition, collaboration, which is increasingly central to effective innovation efforts, is fueled by friendships among co-workers.

Evidence The data has become clear that great workplaces crush the competition.

Transparency Increasing visibility into the inner workings of organizations is rewarding good employers and punishing lessthan-good ones.

Awareness There’s greater recognition among business leaders that trust and culture are paramount to business success.

Wellbeing The global push by people for greater physical, emotional and spiritual health is forcing companies to make their workplaces better.

Great Place to WorkÂŽ

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The Great Workplace Era Takes Shape in Latin America Josiane Souza, electrician, Elektra

Elektro is a good example of this last point. It is among the companies that is taking worker wellbeing to heart— in an industry that is fraught with life-threatening health risks such as electrocution and lethal falls. Josiane Souza, an electrician at the company, appreciates the way Elektro has come to accept nothing less than a perfect safety record. Each day before her shift, Souza’s manager gathers his team to discuss safety as it relates to the specific projects under way.

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Annual Best Workplaces in Latin America List

The company also has a policy that anytime an employee feels a job is unsafe or they don’t feel well enough to do it safely, they can—and should-refuse to do the task. This isn’t an empty policy, says Souza, who has been at the company about two and a half years. Nor do Souza and her colleagues feel they need to rush to complete jobs if an unexpected obstacle slows them down. Instead, managers trust team members to do the best they can each day.

““They’re not going to punish us for not meeting the schedule,” Souza says.

Tiago Souza, electrician, Elektra

But working at Elektro is about much more than staying safe and avoiding reprimands for Souza. It is about charging up the career possibilities of both her and her husband Tiago, also an electrician at the company.

Both Josiane and Tiago are currently enrolled in an electrical engineering program at a local university, and both have applied to Elektro for a scholarship to help cover the costs.

Josiane made the leap into college after noticing that Elektro colleagues were progressing from the position of electrician to electrical engineer—with the company’s support.

“Elektro inspired me to go after a college degree,” she says. “I never thought I would get one. I saw that if a person studies, they have the opportunity to grow in the company.”

Just like their CEO Marcio Fernandes, the two Souzas believes the most powerful part of the electric company is the people. Tiago’s words apply to workplaces throughout Latin America and the entire globe. “Technology is important,” he says, “But if you don’t have the people, you don’t have anything.”

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Company and Employee Profiles

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Annual Best Workplaces in Latin America List

Diverza #13 Best Small & Medium

“They turned out the lights in the elevator because they knew I was trying to scare people,” he recalls. “I stayed in the elevator like 20 minutes trying to scare people.”

Fernando Marcos - Sales Manager at Diverza

Electronic invoice processing may sound dull. But Monterrey, Mexicobased Diverza makes work in this field fun. And the informal, playful, participatory culture has charged up the firm’s business results.

How zany does Diverza get? Just visit on Halloween, when virtually every employee dresses up in a costume. Two years ago, Sales Manager Fernando Marcos came to work as a “killer clown.” The fact that Marcos is 6’ 6’’ made the outfit scarier than your typical scary clown. And the facilities managers at Diverza’s office building cooperated to heightened the spooky excitement.

Marcos as scary clown on Halloween

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Company and Employee Profiles

Besides costumes at Halloween, Diverza employees enjoy a casual dress code, birthday celebrations and fitness classes after hours.

All the fun has a serious side, though.

It contributes to an egalitarian spirit with powerful effects, company leaders say. Once a month, CEO Jose Luis Ayala holds a town hall meeting to share company progress—and this open communication keeps everyone aligned with the company’s strategy.

Diverza also has developed a system for employees to submit suggestions for new products and services.

“Every single employee has access to innovation, to sharing ideas,” says Victor Monroy, Diverza’s Chief Planning and Project Officer. “This is different than others in the Mexican market.”

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Annual Best Workplaces in Latin America List

Victor Monroy Chief Planning and Project Officer at Diverza

It’s not surprising, then, that Diverza was quick to jump on a new business opportunity. The Mexican tax authority recently began working with private-sector companies for the purpose of collecting tax filings.

Diverza has been accepted as one of these private-sector partners and expects the new business line to fuel significant revenue growth.

Diverza. Revenues 89,077

98,124

Thousand of Mexican Pesos

73,305

% growth (2010-2014)

37,098

752.2%

13,045

2010

2011

Already, Diverza has been growing quickly. Revenues at the firm soared from MXN $13 million in 2010 to MXN $98 million in 2014. During the same time frame, its customer base climbed from 60,560 to about 319,114.

2012

2013

2014

With results like these, Diverza has established itself as a significant player in the button-down financial services world. But employees at the company say the business success feels like a side-effect of a peoplefocused culture. “They want us to be happy,” Marcos says. “It feels like a large family.”

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Company and Employee Profiles

Adrián Jiménez Adrian Jimenez could feel like a cog in the machinery of a big bank. But as a cashier at Peru-based Interbank, he feels more like a key player.

“It’s a serious job. I work with customers’ money,” says Jimenez, who has been at Interbank about a year. “If I do something wrong it could be bad for the customer. It’s a big responsibility.”

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Annual Best Workplaces in Latin America List

What is it about Interbank that connects the 23-year-old Lima resident to the bank’s goal of good customer service? For one thing, Jimenez loves the family feel of his team. Not long ago, he sent out an email to colleagues asking them to contribute cash to a charity project of his. In 20 minutes, his four teammates had committed the equivalent of US$170. “In my other jobs, we were not so close,” he says.

Jimenez also appreciates the way his supervisors take a personal interest in him. That started with job interviews, when not only his boss but his boss’ boss met with him. And the individual attention has continued with discussions with his supervisors about Jimenez’s career path. Jimenez hopes to graduate soon from a local university with a business degree,

and his managers have been talking with him about promotions he might be eligible for with the credential.

It all adds up to a work experience that makes Jimenez feel valuable as he counts up customers’ money.

Then there are the fundamental issues of pay and hours. Jimenez says he earns a good salary without having to put in extreme hours.

And even though he works a parttime schedule of 30 hours a week, Jimenez was given a portion of the company’s profit-sharing payment to employees. “Other jobs don’t consider the part-timers for the earnings bonus,” he says.

““Being a cashier sounds like a not-serious job, but it is,” he says. “I feel grateful to be here.”

The way his careful work translates into customer gratitude also makes his day. This past Christmas, a customer brought him and his colleagues a cake and a card. “They said thank you for a good year,” Jimenez says.

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Fast Facts about the Best 100 Workplaces in Latin America 2015 38

Annual Best Workplaces in Latin America List

Participation and Overall List Data LatAm Data Point

2015

2014

Difference

Percentage Change

Great Place to WorkÂŽ countries contributing to list makers

20

20

0

0.0%

# of participating companies in the contest:

2,294

2,094

200

9.6%

# of employees represented in the competition:

3,929,593

3,634,467

295,126

8.1%

# of valid surveys received

2,058,119

1,855,462

202,657

10.9%

671,551

656,730

14,821

2.3%

# of employees represented by the 100 companies:

Number of Participant Companies, 2010-20152015 DistribuciĂłn por industria de las empresas reconocidas en la lista 2015

1,400

1,900

2,036

2,218

2,094

2,294

2010

2011

2012

2013

2014

2015

Great Place to WorkÂŽ

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Fast Facts about the Best 100 Workplaces in Latin America 2015 Country Distribution for Companies on 2015 list

Uruguay, 1% RepĂşblica Dominicana, 2% Puerto Rico, 1%

Venezuela, 2% Argentina, 5% Bolivia, 1%

Peru, 11% Paraguay, 1%

Brazil, 24%

Panama, 3% Nicaragua, 1%

Central America and the Caribbean (one operation), 1%

Mexico, 14%

Chile, 8%

Honduras, 1% Guatemala, 4% El Salvador, Costa Colombia, 9% 3% Rica, 3% Ecuador, 2%

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Annual Best Workplaces in Latin America List

Industry Distribution for Companies on 2015 list

Transportation, 3%

Aerospace, 1%

Telecommunications, 1%

Biotechnology & Pharmaceuticals, 3% Retail, 9%

Information Technology, 11% Social Services & Government Agencies, 1%

Construction & Infrastructure, 11%

Professional Services, 7% Industrial Services, 1%

Health Care, 5% Education & Training, 3% Hospitality, 5%

Financial Services & Insurance, 21%

Non-profit and Charity Organizations, 2%

Media, 1%

Manufacturing & Production, 14%

Mining & Quarrying, 1%

Great Great Place Place To to Work速

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Fast Facts about the Best 100 Workplaces in Latin America 2015

Data Point

2015

2014

2013

49

37

35

183 years old (Scotiabank)

304 years old (RSA Seguros)

N/A

Growth by Number of Employees

23%

19%

18%

New Jobs Created since Last Year

21,411

19,254

20,471

Women in Executive Management Positions

28%

30%

24%

Voluntary Employee Turnover

13%

16%

14%

Median Voluntary Turnover

7%

8%

8%

486% (Microsoft Mexico – 200,000 applications and they have 514 employees)

263%

344%

83

73

78

% Increase in Revenues since Prior Year

12%

15%

N/A

Absenteeism

4%

12%

N/A

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

46%

54%

N/A

% of employees who answered positively to the overall statement “Taking everything into account, I would say this is a great place to work.”

91%

92%

91%

Average Age of Company Oldest Company

Max Application Rate

Average Number of Training Hours

42

Annual Best Workplaces in Latin America List

Employee Distribution

45 to 54 years; 9,8%

55 or older; 2,8%

Female Employees; 45,8%

by Gender

Male Employees; 54,2%

25 years or younger; 33,4% 35 to 44 years; 20,6%

by Age

Executive/Senior Managers; 3,3% Managers/ Supervisors; 17,7%

26 to 34 years; 33,4%

by Job Type

% Staff (NonManagement); 79,0%

Great Place to Work速

43

Fast Facts about the Best 100 Workplaces in Latin America 2015 Trust Index Results Overall Trust Index Score – Historic Development of the Latin America 100 Best (2010-2015) 89

87,8

Trust Index Benchmark

88 87

86,8 86

85

85

84 83 82

87,3

86

85,4

86

87,3

84,5

83

81 80

2007

2006

2008

2009

2010

2011

2012

2013

2014

2015

Trust Index Results by List Category (2013-2015) 2013 - 2014 - 2015

90

89

89

89 87

88

88

85

86

84

84

81

82 80 78 76 74

Top 50 PyMEs

44

Annual Best Workplaces in Latin America List

Top 25 Large

Top 25 MNCs

83

Trust Index Dimension Score by List Category (2015) 93

92

92

91

91

91

90 89

Trust Index Benchmark

88

90 88 87

86

87 86

85

85

84 83 82

87

86

87

84 82 81

81

80

80 79 78 77

Credibility

Respect Top 50 PyMEs

Fairness Top 25 Large

Top 25 MNCs

Pride

Camaraderie

TI Average

Great Place to Work速

45

Fast Facts about the Best 100 Workplaces in Latin America 2015

Trust Index Score by Industry (2015)

Construction & infraestructure

88

Information Technology

88

Financial Services & Insurance

88

Manufacturing & Production

87

Professional Services

87

Retail

86

Hospitality

86 85

Health Care 84

46

Annual Best Workplaces in Latin America List

85

86

87

88

89

Trust Index Dimension Scores by Region 92

91 90

90

89

89 88

88

86

84

87

87

89 89

88 87

86

89 89 87

86

87 86

87 86 86

84

84 83

82

80

78

LatAm 100 Best 2015 Credibility

EU 100 Best 2014 Respect

Fairness

Asia 60 Best 2015 Pride

Camaraderie

Fortune 100 Best 2014 Trust Index Score

Great Place to Work速

47

Fast Facts about the Best 100 Workplaces in Latin America 2015

Most Improved Statements, 2006 vs. 2015 96 94 92 90

Trust Index Benchmark

88 86 84 82 80 78 76 74 72 70 68 66

2006

2007

2008

2009

2010

2011

2012

2013

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

48

Annual Best Workplaces in Latin America List

2014

2015

Great Place to Work速

49

The List of the 100 Best Workplaces in Latin America

50

Annual Best Workplaces in Latin America List

25 Best Multinational Workplaces in Latin America 2015 Rank

Company name

Countries

Industry

# employees

1

Microsoft

Argentina, Brasil, Chile, Colombia, México, Perú

Tecnologías de la Información

6

Argentina, Brasil, Centroamérica (One Central Operation), Chile, Colombia, Ecuador, México (2), Perú (2), Venezuela

Telecomunicaciones

11

2

Telefónica • Telefónica (Argentina, Centroamérica, Perú) • Telefónica Movistar (Chile, Colombia, Ecuador, México, Venezuela) • Vivo (Brasil) • Terra Mexico (México) • Telefónica Global Solutions (Perú)

3

JW Marriott • JW Marriott (Brasil, Mexico, Perú) • Renaissance São Paulo Hotel (Brasil)

Brasil (2), México, Perú

Hospitalidad

4

4

Accor

Argentina, Brasil, Chile, México, Perú

Hospitalidad - Hotel

5

5

McDonald's • Arcos Dorados

Argentina, Brasil, Costa Rica, Panamá, Perú, Uruguay

Hospitalidad

6

6

Dell

Brasil, México, Panamá

Tecnologías de la Información

3

7

Cisco

Brasil, Chile, Costa Rica, México

Tecnologías de la Información

4

8

Diageo

Brasil, Centroamérica y Caribe (One Central Operation), Chile, México

Manufactura y Producción

4

Great Place to Work®

51

The List of the 100 Best Workplaces in Latin America

Rank

52

Company name

Countries

Industry

9

BELCORP

Bolivia, Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, México, Perú

Cuidado de la Salud

10

Monsanto

Argentina, Brasil, Costa Rica, Guatemala, México

Biotecnología y Farmacéutica

11

Edenred • Ticket (Brasil)

Argentina, Brasil, México Servicios Financieros y Seguros

12

MARS

13

BBVA • BBVA Bancomer Banco (México) • BBVA Bancomer Seguros y Multiasistencia (Mexico) • BBVA Continental (Perú) • Banco Provincial (Venezuela)

14

3M

15

MAPFRE Insurance • Group Segurador BB e MAPFRE (Brasil)

# employees 8

5 3

Brasil, Centroamérica y Caribe (One Central Operation), Chile

Manufactura y Producción

3

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

Servicios Financieros y Seguros

7

Bolivia, Brasil, Chile, Venezuela

Manufactura y Producción

4

Brasil, El Salvador, Guatemala, Honduras, Panamá, México, Nicaragua, Paraguay, Rep Dominicana

Servicios Financieros y Seguros

9

Annual Best Workplaces in Latin America List

Rank

Company name

Countries

Industry

# employees

16

Scotiabank • Scotiabank Banco de México (México) • Scotiabank Casa de Bolsa (México) • Scotiabank Servicios Corporatives (México)

Chile, Costa Rica, El Salvador, México (3), Panamá, Perú, Puerto Rico, Rep Dominicana

Servicios Financieros y Seguros

10

17

Atento

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

Servicios Profesionales

9

18

Novartis

Brasil, Colombia, Ecuador

Biotecnología y Farmacéutica / Farmacéutica

3

19

Roche (Productos Roche S.A.) • Quimicos e Farmacêuticos Ltd. (Brasil) • Roche Diagnóstica (Brasil) • Roche Farmacéuticos (Chile)

Brasil (2), Chile, Colombia, Venezuela

Biotecnología y Farmacéutica

5

20

Yanbal

Bolivia, Colombia, Ecuador

Manufactura y Producción

3

21

Hanesbrands

El Salvador, Honduras, Rep Dominicana

Manufactura y Producción

3

22

DHL

Colombia, Paraguay, Perú, Uruguay

Transporte

4

Great Place to Work®

53

The List of the 100 Best Workplaces in Latin America Rank

Company name

Countries

Industry

# employees

23

Excel Automatriz

El Salvador, Guatemala, Honduras, Nicaragua, Panamá

Comercio Minorista

5

24

AES Corporation

Panamá, Puerto Rico, Rep Dominicana

Comercio Minorista

3

25

Falabella • CMR Falabella (Argentina, Chile) • Hipermercados Tottus (Perú) • Saga Falabella (Perú) • Sodimac (Argentina, Colombia, Perú)"

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

Comercio Minorista

10

50 Best Small & Medium Workplaces in Latin America 2015 (50-500 Employees)

Rank

54

Company name

Countries

Industry

# employees

1

Acesso Digital

Brasil

Tecnologías de la Información

120

2

Zanzini Móveis

Brasil

Manufactura y Producción

361

3

VisaNet

Perú

Servicios Financieros y Seguros

249

4

Sacos del Atlántico

Guatemala

Construcción, Infraestructura e Inmuebles

86

5

SJ Administração de Imóveis

Brasil

Construcción, Infraestructura e Inmuebles

109

Annual Best Workplaces in Latin America List

Rank

Company name

Countries

Industry

Brasil

Construcción, Infraestructura e Inmuebles

# employees 482

6

Pormade Portas

7

Hocol

Colombia

Manufactura y Producción / Derivados del Petróleo

202

8

Dextra

Brasil

Tecnologías de la Información

111

9

Fondo Nacional de Garantías -FNG-

Colombia

Servicios Financieros y Seguros

109

10

CARVAL

Colombia

Comercio Minorista

375

11

Apoyo Consultoría

Perú

Servicios profesionales

148

12

Seguros Universales

Guatemala

Servicios Financieros y Seguros

236

13

Diverza

México

Tecnologías de la Información

85

14

Radix

Brasil

Tecnologías de la Información

321

15

Special Dog

Brasil

Manufactura y Producción

491

16

Construcciones El Cóndor S.A.

Colombia

Construcción, Infraestructura e Inmuebles

304

17

B&Q Energia

Brasil

Manufactura y Producción

351

18

Resuelve Tu Deuda

México

Servicios Financieros y Seguros

270

19

ABA

Brasil

Educación y Formación

172

20

JOST Brasil

Brasil

Manufactura y Producción

398

Great Place to Work®

55

The List of the 100 Best Workplaces in Latin America Rank

56

Company name

Countries

Industry

# employees

21

Unicred Ceará Centro Norte

Brasil

Servicios Financieros y Seguros

163

22

Real Plaza

Perú

Construcción, Infraestructura e Inmuebles Administración de la propiedad

314

23

Focus

Chile

Servicios profesionales

56

24

VIVA GyM

Perú

Construcción, Infraestructura e Inmuebles

155

25

PROCOLOMBIA

Colombia

Servicios Sociales y Agencias Gubernamentales / Servicios de Negocio

422

26

Cofide

Perú

Servicios Financieros y Seguros

214

27

CENEGED

Brasil

Servicios profesionales

282

28

Entidad Mexicana de Acreditación

México

Servicios Profesionales

96

29

Laboratório Leme

Brasil

Cuidado de la Salud

343

30

Terminal de Contenedores de Cartagena -Contecar-

Colombia

Transporte Paquetería y transporte de mercancías

337

31

Orange Investments

México

Construcción, Infraestructura e Inmuebles

53

32

IPOG Instituto de Pósgraduação e Graduação

Brasil

Educación y Formación

145

Annual Best Workplaces in Latin America List

Rank

Company name

Countries

Industry

# employees

33

Grupo Agrisal Division Hotelera: • Holiday Inn San José Escazú"

Costa Rica

Hospitalidad

86

34

Agreca

Guatemala

Construcción, Infraestructura e Inmuebles

252

35

Sicoob Metropolitano

Brasil

Servicios Financieros y Seguros

291

36

Intéligo SAB

Perú

Servicios Financieros y Seguros

143

37

Moinho Globo Alimentos

Brasil

Manufactura y Producción

188

38

Inflection Point

México

Tecnologías de la Información

79

39

Colegio Inglés Hidalgo

México

Educación y Formación

70

40

Touch Tecnologia

Brasil

Tecnologías de la Información

145

41

Consórcio Luiza

Brasil

Servicios Financieros y Seguros

142

42

Unimed Ceará

Brasil

Cuidado de la Salud

113

43

Elogroup Desenvolvimento e Consultoria

Brasil

Servicios profesionales

158

44

Compugraf

Brasil

Tecnologías de la Información

120

45

ARAUJO Y SEGOVIA S.A.

Colombia

Construcción, Infraestructura e Inmuebles

189

Great Place to Work®

57

The List of the 100 Best Workplaces in Latin America Rank

Company name

Countries

Industry

# employees

México

Organizaciones nogubernamentales y filantrópicas

103

Colombia

Transporte de Gas

377

46

Asociación Programa Lazos IAP

47

Transportadora de Gas Internacional -TGI-

48

Maestranza Diesel

Chile

Manufactura y Producción

468

49

Algar Mídia S/A

Brasil

Medios de comunicación

277

50

Marelli Ambientes Racionais

Brasil

Manufactura y Producción

208

25 Best Large Workplaces in Latin America 2015 (500+ Employees)

Rank

58

Company name

Countries

Industry

# employees

Brasil

Manufactura y Producción

3.620

1

Elektro Electricidade e Serviços

2

BancoEstado Microempresas

Chile

Servicios Financieros y Seguros

1.118

3

Transbank

Chile

Servicios Financieros y Seguros

544

4

Gazin

Brasil

Comercio Minorista

6.911

5

Interseguro

Perú

Servicios Financieros y Seguros

580

6

SAMA S.A. - Minerações Associadas

Brasil

Minería y Cantera

734

7

Aseguradora Solidaria de Colombia Entidad Cooperativa

Colombia

Servicios Financieros y Seguros

905

8

Magazine Luiza

Brasil

Comercio Minorista

24.277

Annual Best Workplaces in Latin America List

Rank

Company name

Countries

Industry

# employees

México

Hospitalidad

1.100

Aeroespacial

17.706

9

Grupo Vidanta: • Mayan Riviera Maya

10

Embraer

Brasil

11

Laboratório Sabin

Brasil

Cuidado de la Salud

1.391

12

Losango

Brasil

Servicios Financieros y Seguros

1.230

13

Liverpool

México

Comercio Minorista

58.145

14

Banco de Crédito e Inversiones - BCI

Chile

Servicios Financieros y Seguros

8.343

15

COOSALUD EPS

Colombia

Cuidado de la Salud

837

16

Gentera • Gentera (Mexico) • Compartamos (Guatemala)

México y Guatemala

Servicios Financieros y Seguros

15.796

17

CEMAR

Brasil

Servicios Industriales

1.167

18

Interbank

Perú

Servicios Financieros y Seguros

6.808

19

PromonLogicalis

Brasil

Tecnologías de la Información

803

20

Grupo Progreso - Progreso

Guatemala

Construcción, Infraestructura e Inmuebles

1.579

21

Ancar Ivanhoe

Brasil

Comercio Minorista

3.176

22

Fundación Teletón México

México

Organizaciones nogubernamentales y filantrópicas

2.886

23

Grupo Ruba

México

Construcción, Infraestructura e Inmuebles

852

24

Supermercados Peruanos

Perú

Comercio Minorista

13.904

25

Grupo Security

Chile

Servicios Financieros y Seguros

3.163

Great Place to Work®

59

Methodology A company must have appeared on a Best Workplaces list in at least one Latin American country in order to be a candidate for the regional list. During the 2014-2015 cycle, 775 companies appeared on national Best Workplaces lists in 19 countries in the region. Those companies were eligible to be considered for the regional list.

Best Multinational Workplaces Best Large Workplaces (more than 500 employees)

In 2015, the Best Workplaces in Latin America appear on three lists

Best Small & Medium Workplaces (between 50 and 500 employees)

60

Annual Best Workplaces in Latin America List

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 further into two groups according to the number of employees in their workforce.

This approach allows us to compare companies with similar profiles.

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 in at least three national lists in Latin America Great Place to Work® defines a multinational company as a company operating in at least 3 countries. A company operating in only two countries would compete on one of the two size category lists.

To create regional lists, workplaces are evaluated and win a spot using the same criteria that earns them the right to appear on a national list. However, companies competing within the multinational category receive extra points according to the number of countries in which they are represented on national lists in the region, as well as the total number of employees who participated to 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 represented on a national list, the higher the credit the company receives.

When multinationals become part of a regional list because they qualified in several countries, they can only occupy one position on the regional list. The scores of these companies are averaged and weighted by the number of employees in each of those countries.

Multinational scores are only averaged for companies that share a common culture between countries.

Great Place to Work®

61

El poder de la gente

©2015 Great Place to Work® Institute, Inc. TInstitute. All Rights Reserved.

64

Annual Best Workplaces in Latin America List