CNBC : 1 April 2022

Companies love to brag about their “great workplace culture,” but what does that mean?

An organization’s culture is often reflected in its mission statement and leadership, evident in how managers treat employees and the benefits offered.

According to a new report from the company review site Comparably, Microsoft is the No. 1 global company with the best workplace culture. The annual ranking is based on anonymous employee ratings for 70,000 companies shared on their site over a 12-month period from March 2021 to March 2022.

Comparably considered nearly 20 different topics that define a positive workplace culture including compensation, work-life balance and professional development opportunities.

Here are the top 10 global companies, with 500 or more people, that have the best workplace cultures:

1. Microsoft
CEO: Satya Nadella

Headquarters: Redmond, Washington

Industry: Technology

2. IBM
CEO: Arvind Krishna

Headquarters: Armonk, New York

Industry: Technology

3. Google
CEO: Sundar Pichai

Headquarters: Mountain View, California

Industry: Technology

4. HubSpot
CEO: Yamini Rangan

Headquarters: Cambridge, Massachusetts

Industry: Technology

5. Elsevier
CEO: Kumsal Bayazit

Headquarters: New York, New York

Industry: Publishing

6. Chegg
CEO: Dan Rosensweig

Headquarters: Santa Clara, California

Industry: Education technology

7. Concentrix
CEO: Chris Caldwell

Headquarters: Fremont, California

Industry: Technology

8. RingCentral
CEO: Vlad Shmunis

Headquarters: Belmont, California

Industry: Technology

9. Experian
CEO: Brian Cassin

Headquarters: Costa Mesa, California

Industry: Credit reporting

10. Estee Lauder Companies
CEO: Fabrizio Freda

Headquarters: New York, New York

Industry: Skincare, makeup, fragrance and hair care

Many of the same companies that were featured in last year’s ranking — including HubSpot, IBM, RingCentral and Microsoft — have retained their spots in the top 10. That’s because these companies are continuing to offer flexible work arrangements for employees and have seen their profits soar during the pandemic, Comparably CEO Jason Nazar tells CNBC Make It.

“This cohort of companies aren’t being reactive to employees’ needs, but setting the rules for how to navigate the new world of work we’re living in,” he says.

Employees at Chegg, IBM, Elsevier and other organizations also praised leadership’s efforts to build diverse, equitable work environments, with one employee at Concentrix writing that such initiatives have improved the culture to be more “inclusive, equal and joyful.”

What sets Microsoft apart, Nazar says, is CEO Satya Nadella and the confidence he instills in his workforce. Last month Nadella, who has served in the role since 2014, was voted the “most underrated” CEO by his peers in a survey conducted by Fortune and Korn Ferry. The survey notes that the 54-year-old has headed the list since 2017 for his transparent, empathetic approach to leadership and humility.

“He has a good vision and the global strategy is excellent,” one employee wrote on Comparably. “In these complicated times, it is reassuring to be in such a strong company with a strong leadership team.”