The states with employee-friendly companies are attracting a large labor pool.
FORTUNE Magazine just released the latest list of the 100 Best Companies to Work For. The publication surveyed about 100,000 employees of 407 firms around the country and asked them various queries ranging from job satisfaction to pay and benefit programs. Perennial pro-employee champ Google has finally been relegated to second position after data storage company NetApp scored higher in the results. The Sunnyvale-based corporation had a 12 percent job growth in 2008 and continuously receives thousands of applications every week. According to FORTUNE, “(NetApp’s) benefits are tops: five paid days for volunteer work, $11,390 adoption aid, and autism coverage—used by 43 employees since 2006 at a cost of $242,452. The company has gained market share during the slump, hasn’t had layoffs, and has more than $2 billion in cash on hand to help it ride out the global financial crisis.”
If you’re eyeing to relocate to any of the states whose companies made it to the top list, here’s a simple guide. We decided to use and analyze the data presented by the magazine for the real estate community:
Our findings: California has the most firms in the list with 15 companies ( we only counted headquarters as some like Starbucks, FedEx and Wegmans Food Markets have thousands of branches versus other employers like Vanderbilt University that is concentrated only on a limited area), followed by Texas with 14, New York with 9, Virginia with 6 and Washington with 5.
Our recommendations: Foreclosures are in record-highs in California. With the plunge in home values in San Jose and San Francisco, you can take advantage of cheap finds and work your way on getting hired in Cisco, Adobe Systems, eBay, Kimpton Hotels or Salesforce.com.
Our findings: New York City has the most company headquarters among all the cities with 7 firms having combined revenues of $16.6 billion. It is followed by Houston with 4 companies in the list. Those with 3 firms include San Antonio, TX, San Francisco and San Jose in CA, and Seattle, WA. Houston can attract workers in healthcare (Methodist Hospital System) and retail (Men’s Warehouse) while San Antonio can offer engineering jobs (NuStar and Valero Energy) to top employees. Finally, Seattle is known globally for the success of Starbucks where the renowned coffee company had its humble beginnings.
Our recommendations: NYC’s accounting firms and management consulting companies pay well enough (above $50,000 for administrative work) to keep your rent payments on time but unless you are ready to sweat it out in The Big Apple and survive the high cost of living, you may try to apply for these companies’ other branches. Ernst & Young, Pricewaterhouse Coopers and Accenture have a wide network in the country and you may own a single family home by paying a 30-year mortgage with the advantage of today’s low rates.
Our findings: The Big D is represented by two companies namely construction firm TDIndustries and technology giant Texas Instruments. TDIndustries earned only $306 million in 2007 while Texas Instruments raked in $13,835 million. The figures represent the lowest and highest among the companies listed from Texas respectively.
Our recommendations: The Case-Shiller Home Price Index reports Dallas to have the least drop in home values among the 20-City Composite Index at only -3.0 percent YoY. Professionals who are employed from either two companies can find home financing easy given lower mortgage rates and higher home equity.