Charles Schwab Puts Customers First: 2022 Top Workplaces
CLEVELAND, Ohio – Charles Schwab says he always puts his customers first. Leaders and employees say this mindset is what makes the company great not only for customers, but also for the workers who serve them.
A frequent company on cleveland.com’s annual Best Workplaces list, Charles Schwab is ranked #1 among Great Companies for 2022.
For the list of the best places to work 2022, cleveland.com and the Plain Dealer compiled 220 Notable Northeast Ohio Employers based on employee surveys. This year, we focused on employee retention. Find the full list and stories of the top three winners in each category at cleveland.com/top-workplaces.
The investment management firm has just under 700 employees across four locations in northeast Ohio. It has more than 30,000 employees across the United States and is also on Forbes’ list of “America’s Top Large Employers” for 2022.
Catherine Golladay, manager of workplace financial services, said the company’s mission is why Schwab is consistently listed as one of the best places to work.
“I believe our customer-focused approach is a big factor in why people join Schwab and why they stay,” Golladay said. “Our employees are driven by a common desire to help people invest in their financial future at all income levels, at every stage of life.
“From day one, we set out to challenge the status quo, looking for ways to provide our customers with more value and a better experience. It really resonates with our people.
Many employees mentioned the same, saying the work was challenging and interesting.
“Every day I spend most of my time solving interesting little puzzles,” one employee wrote in the survey. “Solving these puzzles makes Schwab products work better for their customers, but it’s also fun. Schwab recognizes what I do well and what I like to do, and lets me do it.
Schwab has a long list of services for its customers and numerous benefits for its employees.
Workers receive typical benefits, including a 401(k) with a company match, an annual bonus plan, a stock purchase plan, and discounts on some of the company’s services. Schwab also offers tuition reimbursement and maternity and paternity leave reimbursement.
A unique offering from Schwab are paid sabbaticals. Employees can take a paid sabbatical for 28 days every five years.
The company returned to the office with a hybrid model to give employees flexibility. Golladay said the company also strives to create an inclusive workplace where workers feel valued and regularly solicits employee feedback.
Schwab is also trying to keep workers informed, she said. The company’s CFO holds forums every quarter to update employees on finances, progress toward goals, and major initiatives. Each business unit holds similar meetings to keep teams up to date, she said.
In such a large company, Schwab said it also helps ensure that employees don’t feel like one of the 30,000 people.
“Although we are a large organization, we know that the most important relationships that drive employee satisfaction are the ones you have with your manager, direct team and key business partners, so we are focusing on that,” said said Golladay.
Employees who responded to the survey mentioned many other reasons they liked working for Schwab, such as the leadership’s support for work-life balance.
The company has made cleveland.com’s Best Workplaces list nine times.