Why Apple, Meta, and Amazon Are Missing from the 'Best Corporate Culture' List [Jjinbit]

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Meta Platforms, the parent company of Facebook, along with Apple and Amazon, have been excluded from the list of the "Top 50 Global Companies with the Best Corporate Culture in 2022." According to the American company review site Comparably on the 31st of last month (local time), Meta ranked 7th, Amazon 13th, and Apple 14th just last year, but within a year, they have all fallen outside the top 50.

These three companies also saw significant drops in rankings on another American company review site, Glassdoor's list of the Best Places to Work in the U.S. this year. Meta fell from 11th to 47th, Apple from 31st to 56th. Amazon was completely absent from the list of 100 companies selected last year and this year. What on earth happened?

Jason Nazar, CEO of Comparably, appeared on CNBC and said that these companies went through a turbulent period last year, facing issues from privacy concerns to stock price declines, adding, "It's not that these companies always had problems, but it seems other companies performed better." Meta, Amazon, and Apple employees expressed satisfaction with strong benefits, guaranteed career development opportunities, and the chance to work on impactful projects, but CNBC reported that these factors did not seem enough to change their corporate culture scores.

[Image source=Reuters Yonhap News]

Let's take a closer look at each company. According to CNBC, regarding Meta, employee posts on Glassdoor last year highlighted issues such as unwanted government investigations, management's insufficient response to platform problems, and uncertainty about the future. In October last year, internal whistleblower testimony revealed that Facebook was harming children and fueling division, which plunged the company into chaos and caused confusion among employees; this was seen as impacting corporate culture. This year, concerns about Meta's growth prospects have also emerged, with employees witnessing a stock price plunge.

Apple employees pointed out minimal work-life balance, irregular schedules, high stress levels, and a competitive environment in their posts on Comparably and Glassdoor. Comparably gave Apple a corporate culture grade of 'C,' ranking it last compared to major global companies like IBM, Google, Microsoft, Amazon, and Samsung. Amid this atmosphere, movements to form labor unions are gradually emerging within Apple.

[Image source=AP Yonhap News]

Why has Amazon become a difficult place to work? During the COVID-19 pandemic, there were numerous criticisms that warehouse workers' treatment was not properly guaranteed. At that time, criticism arose over insufficient wages and safety measures, leading to widespread dissatisfaction. Based on this, a vote to form a labor union is currently underway. Andy Jassy, who succeeded founder Jeff Bezos as Amazon CEO last year, said at an event in October, "A large group like ours with 1.2 million employees is like a small country," promising to improve the corporate environment. We will have to watch how improvements unfold in the future.

If these three major big tech companies have become difficult workplaces, you might be curious which companies ranked high this year. According to Comparably, the global company with the best corporate culture ranked number one was Microsoft. IBM was second, and Google third.

Usually, companies considered good to work for or with good corporate culture are thought to be those with high salaries or welfare benefits. However, it seems that being embroiled in controversies or experiencing turmoil within one's company is also a significant source of stress for employees.

Editor's Note[Jeong Hyunjin's Jjinbit] is short for 'Real Business Trend,' a segment that showcases trends in corporate management such as organizational culture and HR systems. The emergence of the MZ generation, the expansion of remote work due to COVID-19, and digital innovation all call for innovation in organizational culture. Based on analyses from major overseas institutions that have not received much attention until now, we will deliver fresh and differentiated information and perspectives.