What You Should Know
Colleagues at SummerHaven Investment Management express a near-unanimous admiration for their niche firm specialized in commodity futures. The 11-person team particularly stands out in areas where financial companies often struggle, such as pay equity, work-life balance and confidence in management.
When it comes to the firm's profits, 100 percent of employees say they receive their fair share. This comes in the form of yearly bonuses, a dollar-for-dollar match on retirement contributions up to 8 percent of salary, and fully paid health insurance. Not only do co-workers agree their benefits are unique, they also say they don't have to sacrifice life outside work to earn them.
“We do have a vacation policy on paper, but no one counts the days,” says one employee, who was more or less ordered to take two weeks off following a loss in the family. As with colleagues who mentioned flexibility for appointments, youth coaching schedules or visits from relatives, this team member feels, “The motto is: Get your work done, and have a great life.”
All co-workers surveyed at SummerHaven said their managers show a sincere interest in them as people, not just as employees. What's more, they confirm that their leaders are approachable and consistently involve people in decisions affecting their jobs. Says one: “All employees are treated as if they are partners. Whether you're the office manager or the head of trading, when decisions are made we decide as a group. And that results in everyone taking ownership of their domain and feeling empowered.”
There are no private offices at SummerHaven, where conversations happen in an open workspace that also makes room for table tennis, shuffleboard and video games. Surveyed co-workers describe the atmosphere as fun and family-like. In fact, community involvement was the only element of the work experience that didn't garner praise from at least nine in 10 employees. Overall, people at the firm cast it as a cohesive place where challenging work comes with meaningful rewards.
“You feel part of a team and do your best,” says one employee. “It is a pleasure to come to work every day.”
What Employees Say
I'm proud to tell others I work here.
People celebrate special events around here.
People care about each other here.
Management is honest and ethical in its business practices.
People here are willing to give extra to get the job done.
What They Do
We asked SummerHaven Investment Management, LLC to explain what they do. Here is what they had to say.
We are an investment company specializing in the design and management of commodity futures portfolios. Our aim is to provide diversified commodities exposure with attractive risk-adjusted returns. Our clients include endowments, foundations, hospital groups, pensions and individuals.
About this Company
| Website: www.summerhavenim.com|| Industry: Financial Services & Insurance|
| US Headquarters: Stamford, Connecticut|| US Sites: 1|
| US Employees: 11|| Corporate Structure: Partnership; Private|
| Founded: 2009|
Perks and Programs
We asked SummerHaven Investment Management, LLC to share a few programs they feel really capture what's unique about their workplace. Here is what they had to say.
- Flexible Work Hours: Staff can come and go as they wish as long as they get their work done in a timely manner.
- Free Breakfast and Lunch: All breakfasts and lunches are free and paid for by the firm.
- Free Snacks and Drinks: Free snacks and drinks are available throughout the work day.
- Table tennis and Shuffleboard: Onsite table tennis, shuffleboard and video games are available for use throughout the day.
- Internet access: Internet access and wifi are available for use throughout the day.
- Laptops & Cellphone: All staff are provided with Apple iPhones and either MacBooks, MacBook Air or iPads of their choice for business and personal use.
- Annual Gifts: Firm provides holiday gifts each year to staff which have included: Hydro-flask water bottles, Patagonia chinchilla vests, portable generators, LED flashlights.
- Annual Bonus: All staff receive annual bonuses every year, and have since the founding of the firm.
- Free Gym membership: Access to gym membership within our building is provided to all staff.
- Birthday Party: Every team member's birthday is celebrated with a cake and festive song.
COMPENSATION BY THE NUMBERS
| 100% 401(k) match of employee's contribution, up to 8% of an employee's salary||100% Company-paid health coverage for employees|
| 100% Company-paid health coverage for dependents|
- Restricted stock units to employees
PERKS TO MAKE LIFE EASIER
- Free snacks during the day
- Free lunch on a regular, daily basis
- Free beverages during the day
- Free breakfast foods on a regular, daily basis
WORK-LIFE BALANCE BY THE NUMBERS
| 24 days Paid time off after one year of full-time employment|| 5 days Paid sick days after one year of full-time employment|
WORK-LIFE BALANCE PROGRAMS
- Flexible schedule (100% use it)
FAMILY CARE BY THE NUMBERS
|40 days Job-protected maternity leave||40 days Fully-paid maternity leave (does not include personal vacation or paid time off)|
|10 days Job-protected paternity leave||10 days Fully-paid paternity leave (does not include personal vacation or paid time off)|
|40 days Job-protected parental leave for adoptive parents||40 days Fully-paid parental leave for adoptive parents (does not include personal vacation or paid time off)|
FAMILY CARE PROGRAMS
- Paid sick leave to care for a child or relative
HEALTH INSURANCE COVERS
- Medical care
- Vision care
- Mental health care
- Fertility treatments
- Dental care
- Prescription drug subsidy
- Alternative treatments (such as acupuncture, homeopathy, or chiropractic)
ONSITE HEALTH BENEFITS
- Subsidized offsite gym memberships
Community Involvement & Philanthropy
| $1,000 Philanthropic donations in last year|
- 'Co-Founding and Managing Partner' is accountable to formal diversity goals for employee recruitment and retention
- 2 events a year connect employees with peers from different racial/ethnic, religious or country-of-origin identities
- Married employees in same-sex or heterosexual relationships receive the same benefits
- Non-birth parents in same-sex relationships can take parental leave
Great Place to Work® collected feedback from SummerHaven Investment Management, LLC employees via an anonymous survey. Following are common reasons employees said they appreciate their workplace.
"SummerHaven believes that it is the people at the organization that makes the company succeed and that a happy employee who maintains a great work-life balance and is able to have fun during their day at work is beneficial to the person and also drives their desire to be at the company and help it excel."
"Strong sense of ethics, honesty and consistent aim to be excellent in quality of the product provided to our clients while having fun along the way: All of this is accompanied by an ongoing attempt to balance work and personal life."
"It's truly a pleasure to come to work and see everyone. When I return from a long vacation, I actually look forward to seeing the team and catching up with everyone."
"In a year that the company did well, all employees received a very generous thank-you bonus, even if this was not part of their agreed compensation package."
"Flexible and reasonable hours. Same for vacations."
"Challenges to existing opinions are encouraged. We all sit in one room, so nothing is hidden. Every policy change is discussed in the open. "
"I was interviewed by all of the associates and noticed that their input (or veto) was critical to the hiring process. If one of the associates interviewing had a serious concern, then their input was critical and could potentially derail the hiring. This level of input is unprecedented, even for a small firm."
"The camaraderie between the employees is very impressive. Everyone works toward the same goal and each person is always willing to help the other."
"We work in a very competitive environment and that comes through in our down time, when we have competitions in ping pong, table shuffleboard and corn hole."
"All trust that all are doing their jobs."
How to Get Hired
We asked SummerHaven Investment Management, LLC for some inside information on how to get hired at the organization. Here is what they had to say.
What key characteristics tell you a prospective employee will be a great fit for your company?
We look for candidates that share a passion and committment for excellence in everthing they do while maintaining the highest standards of ethics, honesty and teamwork.
Extensive experience in their role, evidence of success in their field and prior work, and education are important qualities for the ideal candidate.
What can prospective employees do to get your attention?
Candidates can apply for appropriate positions for which they are qualified. In their submission, they can highlight the skills they possess and how they can leverage their skills and attributes to make a positve contribution to the firm.
Are there any positions or types of candidates you are particularly focused on hiring in this coming year?
We expect to be recruiting for a member to our Investor Relations team.
What should interested candidates do to find out more and get started?
Please visit our websites at www.summerhavenim.com and www.summerhavenindex.com which provide significant information about our firm.
| 1 Job openings forecast for coming year|| 38% Job Growth|
| 274 Average applicants per opening|| 822 Applications received|
| 3 Positions filled in past year|| 3 New positions created|
| 1 New graduates hired|