Casella Recognized on Time’s America’s Best Mid-Size Companies 2024 List

Rhea-AI Summary

Casella Waste Systems, Inc. (Nasdaq: CWST) has been named to Time's 'America's Best Mid-Size Companies 2024' list, the only waste management company and Vermont-based firm to be recognized. The list evaluates companies with $100 million to $10 billion in revenue based on employee satisfaction, revenue growth, and sustainability transparency. Casella's CEO, John W. Casella, emphasized the company's investments in employee engagement, safety, training, and retention. Notable initiatives include:

1. A CDL Driving School with over $1.5 million invested, training 300+ new drivers.
2. Restructured annual incentive plans to improve safety and reduce employee turnover.
3. A focus on being an employer of choice in a competitive job market.

The recognition validates Casella's approach of prioritizing employee satisfaction to drive customer service and financial success.

Positive

• Recognition on Time's 'America's Best Mid-Size Companies 2024' list
• Only waste management company and Vermont-based firm on the list
• Successful CDL Driving School initiative with $1.5 million investment
• Improved safety and reduced employee turnover in 2023
• Strong positioning as an employer of choice in the industry

Negative

• None.

Inaugural list identifies leading U.S. companies, based on employee satisfaction, revenue, and sustainability metrics

RUTLAND, Vt., July 16, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company, has been named to Time’s “America’s Best Mid-Size Companies 2024” list.

Casella was the only company in the waste, recycling, and resource management services industry—and the only company headquartered in Vermont—to be recognized among the list of 500.

America's Best Mid-Size Companies 2024 were identified based on three dimensions using more than 15 different criteria. The project scope considered all companies that operate in the United States and generated at least $100 million in revenue but less than $10 billion in 2022 or 2023.

The three evaluation criteria were:

• Employee Satisfaction: Data of standardized work-related KPIs based on survey data from a large sample of employees from U.S. companies.
• Revenue Growth: Revenue growth data of all relevant companies from the internal Growth Database and Company Database.
• Sustainability Transparency: Data among standardized KPIs relevant to environment, social, and corporate governance from the internal ESG Database and targeted data research.
  

“To be viewed as one of the best companies of our size in the U.S. is truly rewarding,” said John W. Casella, Chairman and CEO of Casella. “And, most especially, as it pertains to metrics that include employee satisfaction and sustainability transparency, as these are critical to all that we do as a company. We have invested a great deal in our people over the years and the investments we’ve made in engagement, safety, training, recruitment, and retention is passed on exponentially to the customers and communities we serve.”

In 2020 Casella established its CDL Driving School, and to date has invested more than $1.5 million in training more than 300 newly minted drivers since its inception. Today, Casella continues to reinvest in its workforce companywide to include mechanics and technicians, frontline leaders, and other vital personnel who are committed to service and safety.

In 2023, as part of the company’s efforts to reinforce this commitment to touch all facets of the company, Casella restructured its annual incentive compensation plans so that all bonus plans now include a goal to improve safety and employee turnover performance year-over-year. Both targets were exceeded in their first year, and as job markets continue to remain competitive, Casella is positioned well to be an employer of choice in its industry.

“We often say that our people are the biggest differentiator and competitive advantage as a sustainable enterprise,” said Casella. “If we are first of service to each other, our employees will be satisfied and will work hard to be of service to our customers, which then leads to growth and financial success. That approach has been our focus since the day we hired our first employee, remains true today with more than 4,300 employees, and is validated by an honor like this.”

About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, is one of the largest recyclers and most experienced fully integrated resource management companies in the Eastern United States. Founded in 1975 as a single truck collection service, Casella has grown its operations to provide solid waste collection and disposal, transfer, recycling, and organics services to more than one million residential, commercial, municipal, institutional, and industrial customers and provides professional resource management services in more than 40 states.

For further information, investors should contact Charlie Wohlhuter, Director of Investor Relations at (802) 772-2230, and media should contact Jeff Weld, Vice President of Communications at (802) 772-2234, or visit the company’s website at www.casella.com.

Investors:

Charlie Wohlhuter
Director of Investor Relations
(802) 772-2230

Media:

Jeff Weld
Vice President of Communications
(802) 772-2234
www.casella.com

FAQ

What recognition did Casella Waste Systems (CWST) receive in 2024?

Casella Waste Systems (CWST) was named to Time's 'America's Best Mid-Size Companies 2024' list, being the only waste management company and Vermont-based firm to be recognized.

What criteria were used to evaluate companies for Time's 'America's Best Mid-Size Companies 2024' list?

The list evaluated companies based on three main criteria: employee satisfaction, revenue growth, and sustainability transparency. It considered companies with revenue between $100 million and $10 billion in 2022 or 2023.

How much has Casella Waste Systems (CWST) invested in its CDL Driving School?

Casella Waste Systems (CWST) has invested more than $1.5 million in its CDL Driving School since its inception in 2020, training over 300 new drivers.

What changes did Casella Waste Systems (CWST) make to its annual incentive plans in 2023?

In 2023, Casella Waste Systems (CWST) restructured its annual incentive compensation plans to include goals for improving safety and reducing employee turnover. Both targets were exceeded in the first year.