NuStar Energy L.P. (NYSE: NS) announced today that it ranked No. 15 on the 15th annual “100 Best Companies to Work For” list, which will appear in the February 6 issue of FORTUNE. NuStar, which has made the list for four years in a row, moved up 15 places from last year when the company was ranked No. 30.
On FORTUNE’s website, NuStar is highlighted for paying 100% of employees’ health care premiums, having a no-layoff policy, and matching 401(k) contributions up to 6 percent of pay. There is also a write-up about NuStar in the site’s Best Perks section, as the company was listed among 14 companies with the best health care benefits.
“2012 is off to a great start as once again, we earned a place on the 100 Best Companies to Work For list,” said Curt Anastasio, President and CEO of NuStar Energy L.P. “Thanks to our employees, we have a lot of reasons to be positive about NuStar’s recent accomplishments and bright future. Year-after-year, our employees have helped us generate strong earnings, expand our operations through acquisitions and internal growth projects, earn one of the best safety records in the industry, contribute record amounts of time and money to our communities, and build on our reputation as a great place to work.”
NuStar Chairman Bill Greehey added, “Just earning a place on this prestigious list is a tremendous honor as some companies apply and never make the list. It’s even more noteworthy when you consider that we’ve earned a place four years in a row – every year that we’ve applied. Because this honor is based primarily on confidential employee surveys, we are especially proud of our ranking as it reflects our employees’ positive, can-do spirit.”
Some of the considerations in NuStar’s selection for this honor 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 3 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 company-funded retirement 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.
About the “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; 280 firms participated in this year’s survey. More than 246,000 employees at those companies responded to a survey created by the institute, a global research and consulting firm operating in 45 countries around the world.
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 is based on 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, methods of internal communication, training, recognition programs, and diversity efforts. After evaluations are completed, if news about a company comes to light that may significantly damage employees’ faith in management, it can be excluded from the list.
Any company that is at least five years old and has more than 1,000 U.S. employees is eligible. For information on how to apply, visit www.greatplacetowork.com.
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; 89 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; and two asphalt refineries and a fuels refinery with a combined throughput capacity of 118,500 barrels per day. The partnership’s combined system has over 97 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, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com.