Charles Schwab Corp (NYSE:SCHW) sweeps all accolades, Morgan Stanley (NYSE:MS)
Charles Schwab Corp (NYSE:SCHW) has once again been recognized for its extremely employee-friendly workplace via 3 new awards that it received this month. The company is on lists of the best places to work in, in Arizona, Cleveland as well as the San Francisco Bay Area. An independent research firm for organizational health and employee engagement, WorkplaceDynamics conducted the program in the San Francisco Bay Area and in Cleveland. It was conducted in partnership with several local publications such as Cleveland Plain Dealer and The San Jose Mercury News. Each of these newspapers had published its list of Top Workplaces on June 16. In addition to this, in ArizonaState, the company has been named as the CareerBuilder Top Company to Work for. This statewide program is conducted by two independent organizations: the Best Companies Group in conjunction with CareerBuilder.
Force to the workforce
Morgan Stanley (NYSE:MS) is another company that believes that its workforce is its strength. It released the details of its adviser compensation grid for 2013. The basic cash grid remained unchanged but there was a 2% cut on revenue bonus awards. MS has implemented a completely new growth award program. This program is centered on boosting new business. The objective is that the workforce should be inclined to stay with the organization but the more important objective is that they want the workforce to be committed to growth.
The deferred revenue bonus range will be from 0.5%-4.5% on revenues that range from $750,000-$5M+. If the advisers choose to take cash, they will be vested in year eight and if they opt for company stock, will vest in year four. According to MG, this is one of the most lucrative deferred comp plans that are currently on the Street. These growth awards will help advisers to make up for all the smaller revenue bonuses. Those who display positive growth in terms of net new assets and who stand among the top 40% will be eligible to earn 25-5% of the grid revenue. It is a great way of showing employees that they are a value-add to the organization.