Company Ranks No. 30 in America & No. 3 in Texas
NuStar Energy L.P. (NYSE: NS) announced today that it ranked No. 30 on the 14th annual “100 Best Companies to Work For” list, which will appear in the February 7 issue of FORTUNE, and it came in at No. 3 among large companies on the “Best Companies to Work for in Texas” list, which will be published in the February issue of Texas Monthly magazine.
Also, for the first time NuStar is listed on the front cover of FORTUNE and featured in an article in the magazine. On the publication’s website, NuStar is highlighted for paying 100% of employees’ health care premiums, having a no-layoff policy, offering unusual perks and achieving a low turnover rate.
“I can’t think of a better way to start 2011 than by receiving recognition as one of the best employers in the nation and in our home state,” said Curt Anastasio, President and CEO of NuStar Energy L.P. “Thanks to our employees, we had another great year in 2010 as we achieved strong earnings, expanded our operations through acquisitions and internal growth projects, contributed record amounts of time and money to our communities, and continued to make NuStar an even greater place to work.”
NuStar Chairman Bill Greehey added, “This recognition is remarkable when you consider that we’ve only been an independent company for four years. Because both honors are based primarily on confidential employee surveys, we are especially proud of these rankings as they reflect the positive spirit of our employees.”
Some of the considerations in NuStar’s selection for these honors include the company’s employee benefits plan, which has been rated the best in its industry by Hewitt Associates; its reward and recognition programs; commitment to volunteerism and charitable giving; and special corporate culture. NuStar, which has a voluntary turnover rate of only 2 percent, offers all-employee bonuses; a retirement savings plan that includes a 401(k) match of 100 percent up to 6 percent of pay and a traditional pension plan; company-paid health and welfare benefits that are 100 percent funded for employees and their families; a health and wellness program; and much more. The company also has never had a layoff in its history, and instills in employees the philosophy that if they do a good job, they will always have a good job.
FORTUNE’s “100 Best Companies to Work For” List
To pick the 100 Best Companies to Work For, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. Three hundred eleven companies participated in this year's survey. Two-thirds of a company's score is based on the results of the Institute's Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about management's credibility, job satisfaction, and camaraderie. The other third of the scoring is based on the company's responses to the Institute's Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, internal communications, training, recognition programs and diversity efforts.
Any company that is at least seven years old with more than 1,000 U.S. employees is eligible. The deadline for applying for next year's list is June 15, 2011. For an online nomination form, go to www.greatplacetowork.com.
Texas Monthly’s “Best Companies to Work for in Texas” List
The “Best Companies to Work for in Texas” program, which is sponsored by the Texas Association of Business and the Texas State Council of the Society for Human Resource Management, is determined by a thorough analysis of each nominee conducted by the Best Companies Group. This organization evaluates each company’s responses to a detailed employer questionnaire that covers policies, practices and demographics, as well as the answers from randomly selected employees to a confidential employee survey.
The honorees are broken down into three categories: 29 small-sized companies, 40 medium-sized companies and 31 large-sized employers. All of the winners will be recognized at a special awards luncheon, which will include a keynote address by Texas Gov. Rick Perry, on January 27 at the AT&T Conference Center in Austin.
About NuStar Energy L.P.
NuStar Energy L.P. is a publicly traded, limited partnership based in San Antonio, with 8,417 miles of pipeline; 88 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; and two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. The partnership's combined system has over 93 million barrels of storage capacity. One of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, Canada, Mexico, the Netherlands and the United Kingdom. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com.