Morningstar Lands on 'Best Companies to Work For' List
News summary by MFWire's editors
Morningstar is one of the 100 best companies to work for, according to Fortune magazine, which yesterday unveiled its latest list.
The Chicago-based investment research firm ranks 95th and it's the company's first appearance on the list.
"Provider of investment information offers six-week paid sabbaticals every four years and places no limit on paid vacations or sick time," writes Fortune.
While the 'Best Companies to Work For' list did not have firms that are solely in the mutual fund business, some firms with mutual fund divisions made the list: Robert W. Baird (14), USAA (17) and Goldman Sachs (23).
Morningstar Named One of FORTUNE's 2011 '100 Best Companies to Work For'
CHICAGO, Jan. 20, 2011 /PRNewswire/ -- FORTUNE has named Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, to the magazine's annual "100 Best Companies to Work For" list. Morningstar ranks 95th.
"Since our founding more than 25 years ago, Morningstar has had a unique culture that's built around our passion for helping investors," said Joe Mansueto, chairman and chief executive officer of Morningstar. "We're honored to be included for the first time on this prestigious list. 'Great people' is one of our six core values, and our employees often tell us it's our great people that set us apart from other companies. While I'm happy to have our efforts recognized by FORTUNE, being a great workplace takes continuous focus, and there's always more we can do. We look forward to continuing our efforts to attract, retain, challenge, and reward great people."
To select 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 hundred eleven 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 the 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. Any company that is at least seven years old with more than 1,000 U.S. employees is eligible.
In addition to Morningstar's inclusion on FORTUNE's Best Companies list, the Chicago Tribune recognized Morningstar in November 2010 by naming the firm to its "Top Workplaces" list. In May 2010, Experience, Inc. named Morningstar one of the Best Places to Work for Recent Grads, a list distinguishing 20 top organizations from a wide range of industries across the country for excellence in recruiting, hiring, training, and retaining young professionals. Brill Street, a technology-based firm that helps companies build their workforce, named Morningstar Chicago's top employer for Generation Y workers in October 2009.
Headquartered in Chicago, Morningstar also has U.S. offices in Austin, Texas, Horsham, Pa., and Oakland, Md.
The full list and related stories can be found at http://www.fortune.com/bestcompanies.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 370,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 26 countries.
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