NuStar Energy L.P. has announced that it ranked No. 30 on the 14th annual “100 Best Companies to Work For” list, which appeared in the Feb. 7 issue of FORTUNE, and it came in at No. 3 among large companies on the “Best Companies to Work for in Texas” list, which will be published in the February issue of Texas Monthly magazine.
Also, for the first time NuStar was listed on the front cover of FORTUNE and featured in an article in the magazine. On the publication’s website, NuStar is highlighted for paying 100 percent of employees’ health care premiums, having a no-layoff policy, offering unusual perks and achieving a low turnover rate.
“I can’t think of a better way to start 2011 than by receiving recognition as one of the best employers in the nation and in our home state,” said Curt Anastasio, president and CEO of NuStar Energy L.P.
NuStar Chairman Bill Greehey said, “This recognition is remarkable when you consider that we’ve only been an independent company for four years. Because both honors are based primarily on confidential employee surveys, we are especially proud of these rankings as they reflect the positive spirit of our employees.”
Some of the considerations in NuStar’s selection for these honors include the company’s employee benefits plan, which has been rated the best in its industry by Hewitt Associates; its reward and recognition programs; commitment to volunteerism and charitable giving; and special corporate cul-ture. NuStar, which has a voluntary turnover rate of only 2 percent, offers all-employee bonuses; a retirement savings plan that includes a 401(k) match of 100 percent up to 6 percent of pay and a traditional pension plan; company-paid health and welfare benefits that are 100 percent funded for employees and their families; a health and wellness program; and more.
To pick the 100 Best Companies to Work For, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. Three hundredeleven companies participated in this year’s survey. Two-thirds of a company’s score is based on the results of the Institute’s Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about management’s credibility, job satisfaction, and camaraderie. The other third of the scoring is based on the company’s responses to the Institute’s Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, internal communications, training, recognition programs and diversity efforts.
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