Durable Goods are exactly what you would expect they are: consumer items that are meant to last a while. Big sales of durable goods are a sign of a healthy economy, which is why they’re also the subject of the Census Bureau’s monthly “Durable Goods Orders” report. For the purposes of a culture comparison, looking at Durable Goods allows us to examine and compare companies that are known for making different big-ticket items. Bosch makes automotive components, Canon makes cameras, Philips makes healthcare items, Samsung makes televisions, and General Electric makes… electricity? These are all oversimplifications, of course, but what concerns us today is not what they make but how satisfied their employees are. Using Comparably’s employee-submitted data and reviews, we can get a sense of how a career in Durable Goods treats people.
OVERALL CULTURE
Nobody shines in the first category for Overall Culture, but the little gold trophy goes to Philips. Samsung, Canon, and Bosch all tied – or nearly tied – for second place. And General Electric got a solid D from their employees.
Bosch: “Most of the employees have been with the company for decades and everyone knows each other pretty well. Most are very close knit and I personally have made some amazing friends.”
Canon: “We get along rather well and are good at getting things done.”
GE: “Work life balance does not exist at GE unless you are in upper management.”
Philips: “They hold in house events to spread different cultures and help bond team members from various backgrounds.”
Samsung: “Overall I feel it is a positive experience. Although there are some interesting situations that for people unfamiliar with working with Samsung or Korea in general, will be challenging.”
CEO & LEADERSHIP
Bosch takes a trophy, thanks to the popularity of their CEO, Mike Mansuetti, among the employees. Tying for 2nd are Philips’ Frans van Houten and Samsung’s Young Hoon Eom. Canon’s Fujio Mitarai avoids last place thanks to the low ratings for GE’s Lawrence Culp.
Bosch: “Leadership is very agile and people-focused.”
Canon: “Good management. They try to stay out of the way.”
GE: “GE is no longer the great company it was in the past. CEO and the Board lost the direction. All decisions taken during the last 7-8 years were done following a personal agenda and not for the benefit of its investors and employees. The new CEO has no error margin to do the right choices.”
Philips: “I had a chance to meet with my CEO. He was very thoughtful about the company.”
Samsung: “They mean what they say and they follow through. They know that the people are what drive the company. They are also very customer focused.”
COMPENSATION
Another win for Philips in the Compensation category. Runner-up Samsung is a fairly distant second, and Bosch and Canon could no better than C grades from their employees. Luckily for both, General Electric drops the ball in this category, rating just a D+ for how its employees feel about their compensation.
Bosch: “Salary compensation adjustments need to happen more often.”
Canon: “Decent raises and holiday bonuses.”
GE: “I am not paid market value for my work. GE doesn’t use a local market value, they use a nation-wide average. And if that’s wrong, HR lied to my face about compensation.”
Philips: “The bonus structure is the best part of my compensation package.”
Samsung: “I was able to negotiate what I felt was a fair and reasonable salary and bonus schedule.”
PERKS & BENEFITS
Two big winners here – Bosch and Samsung – both of whom got solid A’s from their employees for their perks & benefits packages. General Electric and Philips both got respectable-enough grades here, and Canon rated the lowest with a C+/
Bosch: “Our 401k is the best I have seen.”
Canon: “Excellent for parents. Child care reimbursement. B PPO. Fair rate of premiums. Sadly the bonuses were not coming in anymore, but they do exist in a profitable year.”
GE: “I’d like a market-competitive offering on equity and much more coverage for health, dental, etc. Could easily go somewhere else with far better benefits. 401k match could be ber as well. all this would be solved by a large equity pool, though.”
Philips: “401k w/7 % match, health insurance, gym membership reimbursement, hsa…”
Samsung: “We sometimes get free TVs at Christmas.”
DIVERSITY
No earth-shaking scores here in the Diversity category, but Bosch pulls out win with a solid B. It’s C’s all around for Canon, Philips, and Samsung. And General Electric loses any headwind it got in the last category with a disappointing D+.
GE: “Very far behind the times.”
Philips: “There is lots of diversity at Philips. Minorities are well represented throughout the organization at every level.”
Samsung: “The team is largely men but there is a change being brought on and the diversity is improving …slowly.”
OUTLOOK
Bosch: “I love being a part of the entire process. Watching things come together. It’s amazing to be a part of such an innovative company.”
Canon: “The fastest segment is software/document management. Helping companies handle the overwhelming volume of data. The slowly declining part is the per copy charge on paper products.”
GE: “Being a grunt engineer, I have no real numbers to back this up, but Digital is where it’s at now. The digital business is going to play with all parts of GE (aviation, healthcare, power & water, etc.), so there’s definitely a push to get smart and capable folks into the company to support that. From what I can tell, it’s a lot of software devs, UX specialists, and product managers.”
Philips: “Philips is on a mission to improve lives around the world, and by and large is accomplishing this every day. Besides an inspiring mission, the company is a dynamic place to work.”
Samsung: “They’re an industry leader. I appreciate the innovation and freedom to create.”
Philips barely pulls out a win here in the Outlook category, meaning that with three wins each Philips and Bosch tie for the win today. Canon and Samsung didn’t blow anyone’s hair back today, but both companies rated enough respectable grades to warrant further investigation. General Electric, however, came in last place for every category except one.
