Bristol-Myers Squibb: Working Mother Magazine Salutes Bristol-Myers Squibb as a Top 10 Best Company
 
Working Mother Magazine Salutes Bristol-Myers Squibb as a Top 10 Best Company
Working Mother magazine named Bristol-Myers Squibb one of the 2008 Top 10 Best Companies for working mothers. This is the 11th consecutive year the company ranked among the 100 Best and the sixth time the company has placed in the top 10. The honor recognizes Bristol-Myers Squibb’s wide array of work/life programs that help employees balance their personal and professional responsibilities.

The 2008 Working Mother 100 Best Companies list appears in the magazine's October issue.
The 2008 Working Mother 100 Best Companies list appears in the magazine's October issue. “Even during times when the external business environment is less stable, we have seen the benefit of our commitment to work/life programs,” says Jim Cornelius, chairman and CEO. “These programs help us attract and retain the talent we need to drive our business. Flexibility and balance in the workplace allow our employees, and our company, to do what we do best: discover and develop medicines to help patients prevail over serious disease.”

Bristol-Myers Squibb was one of two pharmaceutical companies chosen as a 2008 Working Mother Top 10. The complete text of Working Mother magazine's announcement appears published below:

In this sluggish economy, many employers are controlling costs by cutting back on family-friendly policies—but not the 2008 Working Mother 100 Best Companies. From flextime and telecommuting to backup child care and parental leave, this year’s 100 Best are expanding the concept of family-friendly benefits to ensure they cover adoptive parents, fathers and grandparents as well as working mothers.

“The economy is not going to alter the commitment of the 100 Best to working mothers, because they've made family-friendly policies a part of their corporate DNA,” says Carol Evans, CEO, Working Mother Media. “Supporting families is a vital part of their culture and not just an added benefit.”

The 100 Best are raising standards across the board. Rather than slash parent-focused benefits, 57 percent of the winners increased budgets for work/life programs last year. At all of this year’s winning companies, new mothers have access to on-site lactation rooms versus 25 percent of companies nationwide. Eighty-eight percent offer access to backup child care services and 84 percent offer stress reduction programs, compared to the national figures of seven percent and 14 percent respectively.

“The Working Mother 100 Best Companies know that their investment pays for itself through employee loyalty and they realize that productivity depends as much on satisfied staffers as on smart processes,” says Suzanne Riss, Editor in Chief, Working Mother magazine. “By helping employees manage their work/life demands, the winning companies are creating a highly motivated workforce.”

The 100 Best support a path that many working mothers have chosen -- working part-time. Ninety-nine percent of this year’s winning companies support part-timers by offering them health insurance, while only 39 percent of companies nationwide extend the same benefit. A win-win for the mom and her employer, the arrangement cuts costs for the company and gives the employee the work/life balance she needs. These companies have proven that they value the intellectual capital of working mothers and are willing to do what is necessary to retain their best talent.

This year’s winning companies haven’t forgotten about working dads either. Seventy-five percent of the 100 Best offer paid paternity leave versus 13 percent of companies nationwide. But even though more companies are making benefits father-friendlier, many dads still feel uncomfortable taking advantage of paternity leave and other perks. In a twist on the “mommy track” stereotype, fathers fear being stigmatized for stepping away even for a few weeks.

“When dads get the chance to take paternity leave, everyone benefits -- including employers,” adds Riss. “Paternity leaves can lower stress and increase productivity for both men and women by spreading responsibilities more evenly between two parents.”

This year’s 100 Best recognize that family needs don’t end once the kids are out of the house -- working grandparents are also reaping the benefits of family-friendly policies. Sixty-four percent of this year’s winners have formal phased retirement programs while only six percent of companies nationwide offer the same programs. More than one out of four workers today is 50 or older -- their impending retirements will shrink the labor pool and place skilled mature workers in the catbird seat to push for changes that could benefit future working moms.

“Any business leader who chooses to ignore the driving force in the economy that working mothers provide, does so at his or her own peril,” explains Evans. “With working mothers playing such a strong role in national politics and in business this year, the Working Mother 100 Best Companies are doing all they can to help women attain the top spot in their professional lives without sacrificing their families.”

Methodology:

Companies were selected for the 2008 Working Mother 100 Best Companies based on an extensive application with more than 500 questions. The application included detailed questions about workforce, compensation, child care, flexibility programs, leave policies and more. It also checked the usage, availability and tracking of programs, as well as the accountability of managers who oversee them. Seven areas were measured and scored: workforce profile, compensation, child care, flexibility, time off and leaves, family-friendly programs and company culture. For this year’s 100 Best, particular weight was given to family-friendly policies, flexibility, leave policies and benefits for part-timers.

About Working Mother Media

Founded in 1979, Working Mother magazine reaches 2 million readers and is the only national magazine for career-committed mothers. Its 22-year signature initiative, Working Mother 100 Best Companies, is the most important benchmark for work/life practices in corporate America. Working Mother is published by Working Mother Media, which was founded in 2001. Working Mother Media includes the National Association for Female Executives (NAFE), Diversity Best Practices, the WorkLife Congress, the Multicultural Women's Conference and Town Halls. Working Mother Media's mission is to champion culture change. For more information, please visit www.workingmother.com.

The 2008 Working Mother 100 Best Companies

  • Abbott, Abbott Park, IL (Top 10)
  • Accenture, New York, NY
  • Allstate Insurance, Northbrook, IL
  • American Electric Power, Columbus, OH
  • American Express, New York, NY
  • Arnold & Porter, Washington, DC
  • Arnold Worldwide, Boston, MA
  • AstraZeneca, Wilmington, DE
  • Bain & Co., Boston, MA
  • Bank of America, Charlotte, NC
  • Baptist Health South Florida, Coral Gables, FL (Top 10)
  • Bayer, Pittsburgh, PA
  • Blue Cross and Blue Shield of North Carolina, Durham, NC
  • Bon Secours Richmond Health System, Richmond, VA
  • Booz Allen Hamilton, McLean, VA
  • The Boston Consulting Group, Boston, MA
  • Bristol-Myers Squibb, New York, NY (Top 10)
  • Bronson Healthcare Group, Kalamazoo, MI
  • Capitol One Financial, McLean, VA
  • Children’s Healthcare of Atlanta, Atlanta, GA
  • Children’s Memorial Hospital, Chicago, IL
  • Chrysler, Auburn Hills, MI
  • Citi, New York, NY
  • CJW Medical Center, Richmond, VA
  • Colgate-Palmolive, New York, NY
  • Cornell University, Ithaca, NY
  • Covington & Burling, Washington, DC
  • Credit Suisse Securities, New York, NY
  • Dell, Round Rock, TX
  • Deloitte, New York, NY
  • Discovery Communications, Silver Spring, MD
  • Dow Chemical, Midland, MI
  • Dow Corning, Midland, MI
  • DuPont, Wilmington, DE
  • Eli Lilly & Co., Indianapolis, IN
  • Ernst & Young, New York, NY (Top 10)
  • Fannie Mae, Washington, DC
  • Finra, Washington, DC
  • First Horizon National, Memphis, TN
  • First National Bank, Omaha, NE
  • Freddie Mac, McLean, VA
  • GE, Fairfield, CT
  • Genentech, South San Francisco, CA
  • General Mills, Minneapolis, MN
  • GlaxoSmithKline, Philadelphia, PA
  • Goldman, Sachs & Co., New York, NY
  • Grant Thornton, Chicago, IL
  • Hallmark Cards, Kansas City, MO
  • Harvard University, Cambridge, MA
  • HP, Palo Alto, CA
  • IBM, Armonk, NY (Top 10)
  • Inova Health System, Falls Church, VA
  • Intel, Santa Clara, CA
  • Johnson & Johnson, New Brunswick, NJ
  • JPMorgan Chase, New York, NY
  • Katten Muchin Rosenman, Chicago, IL
  • KPMG, New York, NY (Top 10)
  • Kraft Foods, Northfield, IL
  • Lego Systems, Enfield, CT
  • Lehman Brothers, New York, NY
  • Liz Claiborne, New York, NY
  • Marriott International, Bethesda, MD
  • Massachusetts General Hospital, Boston, MA
  • MasterCard Worldwide, Purchase, NY
  • The McGraw-Hill Companies, New York, NY (Top 10)
  • McKinsey & Co., New York, NY
  • Merck & Co., Whitehouse Station, NJ
  • Mercy Health System, Janesville, WI
  • Merrill Lynch & Co., New York, NY
  • MetLife, New York, NY
  • Microsoft, Redmond, WA
  • Moffitt Cancer Center, Tampa, FL
  • Monsanto, St. Louis, MO
  • Morgan Stanley, New York, NY
  • New York Life Insurance Company, New York, NY
  • Northern Trust, Chicago, IL
  • Northwestern Memorial Healthcare, Chicago, IL
  • Novartis Pharmaceuticals, East Hanover, NJ
  • Patagonia, Ventura, CA
  • Pfizer, New York, NY
  • The Phoenix Companies, Hartford, CT
  • Pillsbury Winthrop Shaw Pittman, New York, NY (Top 10)
  • Pitt County Memorial Hospital, Greenville, NC
  • PNC Financial Services Group, Pittsburgh, PA
  • PricewaterhouseCoopers, New York, NY (Top 10)
  • Principal Financial Group, Des Moines, IA
  • Procter & Gamble, Cincinnati, OH
  • Prudential Financial, Newark, NJ
  • S.C. Johnson & Son, Racine, WI (Top 10)
  • Sanofi-Aventis U.S., Bridgewater, NJ
  • Scripps Health, San Diego, CA
  • Texas Instruments, Dallas, TX
  • Turner Broadcasting System, Atlanta, GA
  • UBS, New York, NY
  • University of Wisconsin Hospital and Clinics, Madison, WI
  • VCU Health System, Richmond, VA
  • Verizon Communications, New York, NY
  • Wachovia, Charlotte, NC
  • WellStar Health System, Atlanta, GA
  • Wyeth, Madison, NJ

SOURCE: Working Mother Media News Release, September 23, 2008

 
 
 
 


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