European Wax Center Earns 2023 Great Place to Work Certification™

Rhea-AI Summary

European Wax Center (NASDAQ: EWCZ), a leading franchisor of waxing services in the U.S., has been Certified™ by Great Place to Work®. An impressive 91% of employees reported that it's a great workplace, 34% above the U.S. average. The recognition is attributed to the company's focus on core values, including care for associates and delivering exceptional guest experiences. EWCZ provides benefits such as healthcare, paid leave, and a robust diversity, equity, and inclusion initiative, alongside programs like Spot Bonus and a Fun Committee. In 2022, EWCZ generated nearly $900 million from 944 centers across 45 states.

Positive

• 91% employee satisfaction rating for workplace environment, significantly above the U.S. average.
• Diversity, equity, and inclusion initiatives enhance workplace culture.
• Strong financial performance with nearly $900 million in sales in 2022.

Negative

• None.

PLANO, Texas, March 8, 2023 /PRNewswire/ -- European Wax Center (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, is proud to announce it has been Certified™ by Great Place to Work®. Great Place to Work is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation. The prestigious award is based entirely on what current employees say about working at European Wax Center. This year, 91% of employees said it's a great place to work – 34% points higher than the average U.S. company. By leading with its values - We Care About Each Other, We Do the Right Thing, We Delight our Guests, and We Have Fun While Being Awesome – European Wax Center delivers both a 360-degree guest and associate experience.

"European Wax Center is known for delivering a guest experience that is unparalleled, but we wouldn't be able to do that without our associates and we recognize that. For that reason, we also put forth initiatives, programs, and practices to ensure our associate experience is top priority. We're honored and humbled that our associates feel valued and that we have been recognized for our efforts," said European Wax Center Chief Executive Officer (CEO), David Berg. "We owe our company's growth and success to our associates who come to work each day with passion and dedication."

European Wax Center's total rewards package allows associates to maximize their potential every day. In addition to core offerings, like healthcare benefits, paid parental leave and paid holidays, European Wax Center cultivates an environment where everyone is welcomed, valued, and included through complementary programming such as:

• The Diversity, Equity, and Inclusion (DE&I) Council: Committed to fostering a diverse, equitable, and inclusive environment that values and embraces the different ethnicities, races, cultures, ages, abilities, gender identities, and systems of belief that comprise the European Wax Center workforce. Grounded in our values, the council's goal helps ensure EWC create awareness, community, and safe spaces for all members of our team. The council is led by the Sr. Manager of Diversity, Equity and Inclusion (DEI), whose role is to bring DEI efforts to life and weave our DEI strategies into our overarching business strategy.
• The Spot Bonus Program: A bonus program, distributed by the department head, that gives special recognition to associates who have accomplished an extraordinary achievement within the workplace.
• Tokens of Appreciation: A peer-to-peer recognition program where associates can send monetary gift cards to fellow associates in appreciation for going above and beyond or living brand values.
• The Fun Committee: A group of cross-functional associates that plan different events and activities throughout the year. These events and activities, which take place via weekly corporate forums, virtual happy hours, and during quarterly Town Halls, give associates an opportunity to connect beyond their day-to-day tasks.

To support a healthy work/life balance, European Wax Center promotes a remote-first workplace and offers Flexible Fridays, a Wellness/Mental Health Paid Day Off and a monthly remote stipend. The company also prioritizes mentorship in the workplace and encourages all associates to have open conversations about career aspirations and goals. Individual Development Plans (IDPs) are in place to further motivate associates, in addition to a monetary learning and development stipend.

"At European Wax Center, everyone invests a lot of time, thought, and energy to deliver on a common goal - build a great culture grounded in our values," said European Wax Center CLO, CHRO, and Corporate Secretary, Gavin O'Connor. "We believe our benefits and programs enrich the lives of our associates. And when you combine that with the daily positive interactions our associates have with each other, and our guests, it makes European Wax Center a truly great place to work. "

About European Wax Center, Inc.
European Wax Center, Inc. (NASDAQ: EWCZ) is the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 22 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. In 2022 its network of 944 centers in 45 states generated sales of nearly $900 million. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.

About Great Place to Work Certification™
Great Place to Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.

About Great Place to Work® 
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.

Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.

View original content to download multimedia:https://www.prnewswire.com/news-releases/european-wax-center-earns-2023-great-place-to-work-certification-301765724.html

SOURCE European Wax Center

FAQ

What did European Wax Center announce on March 8, 2023?

European Wax Center announced that it has been Certified™ by Great Place to Work®.

What percentage of employees at European Wax Center believe it's a great place to work?

91% of employees at European Wax Center reported that it is a great place to work.

How much revenue did European Wax Center generate in 2022?

European Wax Center generated nearly $900 million in revenue in 2022.

What is the stock symbol for European Wax Center?

The stock symbol for European Wax Center is EWCZ.

What initiatives does European Wax Center have for employee recognition?

European Wax Center has initiatives like the Spot Bonus Program and Tokens of Appreciation for employee recognition.