The UK's Sunday Times newspaper has just published its ranking of "The 100 Best Companies to Work for 2003", its comprehensive guide to the best employers in Britain. Morgan Stanley maintained its ranking within the top 30 at #27.

"Maintaining our position in the top 30 is testament to our commitment to our employees," said Tamsin Rowe, Director of International Human Resources. "We're especially pleased to be the only investment bank in the top 50, at a time when the environment is particularly challenging to our industry. We will be looking at the results very carefully to identify where we can continue to make improvements in our workplace."

Supported by the UK Department of Trade & Industry, the survey profiles the best companies in the UK, ranked on the basis of employee feedback regarding management, working conditions and working culture. The survey shows that the best companies have invested in their people, and are consequently more productive and profitable. Patricia Hewitt, UK Secretary of State for Trade & Industry, commented: "The evidence shows that high levels of employee satisfaction have a corresponding link to high levels of customer satisfaction. The companies here recognise that link and the need to develop innovative practices. Many companies listed also know the value of work-life balance and family-friendly measures."

In the survey completed by Morgan Stanley employees, 84% said they feel proud to work for the Firm while 75% said they feel they can make a difference and would miss the place if they left.

Richard Caseby, Managing Editor of "The Sunday Times" said: "It is a credit to the confidence of the participating companies that they allowed their staff to express themselves so freely in our survey. It is a leap of faith when the economy is in decline and there are numerous pressures on companies to cut costs. So often the true test of management’s relationship with its workforce is only revealed in the worst of times. The best companies really do trust those who work for them."

The participating companies represented a cross-section of businesses, including public and privately-owned companies and partnerships, and both UK and foreign-owned firms. Sixteen companies from the financial services sector featured in the list, including five insurance firms. The financial services companies featured in the top 100 included MBNA (#41), Capital One (#48), American Express (#85) and UBS Warburg (#94).

Survey Methodology

The survey was conducted by Best Companies, who have been involved in producing the list for "The Sunday Times" for the past three years. "The Sunday Times" used a new research process specially designed for the British labour market that captured the detailed opinions of 47,000 employees across 201 participating companies. Employee opinions contributed 80% towards the final list rankings, with the balance made up of an evaluation of the companies’ policies, processes and services.

Employee opinions were canvassed via 65 questions in eight specific areas, designed to build a picture of working life in the company. The eight areas were around senior management, immediate manager, personal growth, personal wellbeing, immediate team, community involvement, the company itself, and pay and benefits.

For further information, please visit the Sunday Times website.