National Grid is a multinational electricity and gas utility company that operates in the United Kingdom and the United States. It has its nerve center in London, United Kingdom. Let us see is National Grid a good place to work in this article.
To make things easier, the company has divided its operations into National Grid Ventures and National Grid Partners, which have enabled innovations to help make changes and create a more sustainable energy future. Efforts are made by the company, along with its stakeholders, daily to fulfill sustainable energy missions.
Is The National Grid A Good Place To Work?
The company National Grid looks for a diverse, inclusive, and vibrant workforce and ensures that they are properly taken care of hence it is a good place to work for.
National Grid is one of the world’s largest publicly listed utilities focused on the transmission and distribution of electricity and gas and aims at eradicating one of the greatest challenges faced by society, that of transforming its electricity and natural gas networks with smarter, cleaner, and more adaptable energy solutions to eventually reduce the emissions of greenhouse gasses. Therefore, this lightens up the future of the company and makes it a place worthy to work for.
However, you must be thinking if this is enough to consider the company a place worthy to work for, your inquisitiveness is valid; read on in the article to know about the pros and cons of the company:
Employee Benefits Provided by the National Grid:
Financial Security
The company provides flexible and extensive benefits that cover the employees as well as their families, today and in the future. The following are some of them:
- Competitive salaries
- Disability insurance
- annual incentive program
- 401(k) plan
- Life insurance
- Financial well-being resources
- Accidental Death and Dismemberment (AD&D) insurance
- Employee Stock Purchase Plan (ESPP)
- Savings and spending accounts
Health and Well-Being
The company provides affordable choices that provide coverage when one needs it, with the opportunity to save for healthcare expenses over time.
- Medical
- Vision
- Prescription drugs
- Accident insurance
- Telehealth
- Critical illness insurance
- Healthy Pregnancy
- Hospital indemnity insurance
- Diabetes care
- Well-being programs
- Dental
- Employee Assistance Program (EAP)
Work-Life Balance and Other Concerns
- Paid time off
- student loan repayment program.
- auto and homeowners’ insurance.
- Legal services.
- identity theft protection plan.
- Transit and parking accounts
- Caregiver program.
To know about the company more extensively, let’s examine the below SWOT analysis of the company:
Strengths of the National Grid
Diversification in revenue:
Apart from the utility sector, National Grid has ventured into various other businesses. This has enabled the company to generate a prolific flow of revenue beyond the usual sectors that it deals in.
Geographical diversification:
National Grid has a comprehensive dealer network and associates’ network that helps in delivering effective services to its customers not only in the local areas but in all the areas where it is diversified. However, this is a strength of the company since it opens up opportunities for future aspects as well.
Strong brand recognition:
National Grid products have strong brand recognition in the electric utilities industry, and due to this, the company charges more than its competitors.
High margins:
Despite facing downward pressure on profitability, it is still procuring higher profit margins as compared to its competitors.
Weakness of the National Grid
Weaknesses are the lack of capabilities, resources, or strengths required. However, upon overcoming and improving these, the company can eventually improve its functionality.
Some of these are stated below:
- Declining market share – With the electric utilities industry seemingly growing faster, National Grid needs to pull up its socks in the utility sector and figure out what factors will drive future growth.
- The customer network that National Grid has promoted is proving less and less effective.
- It is less loyal to its suppliers.
- The company provides high salaries to employees at lower levels, which will put a burden on the company to provide them with even higher salaries in the future to maintain the talent in the company.
Opportunities at National Grid
Changing customer preferences:
Due to the advancement of technologies and easy access to information, more customers are willing to experiment with and try new products on the market. Therefore, the company needs to keep a check on the ongoing trends in the electric utilities industry and also in the wider utility sector.
Customers are migrating to higher-end products, and National Grid has a strong hold on segments of such products; thus, it is advantageous for the company because these customers will migrate to National Grid.
Amalgamating with the locals:
The local players have a rough knowledge of the local associations, while the national grid can bring global processes to the table. This balances out the local and global aspects of running a business.
Threats to the National Grid
The high degree of competition with other players in the market, which have greater monetary resources and geographical reach.
- The company’s operations are subject to a lot of federal, state, and local regulations; this can increase the compliance cost extensively and can affect the profit margins of the company.
Conclusion
As demonstrated in the above content, National Grid is a company committed to providing the best to its customers, communities, and investors.
The company offers lucrative pay to its employees and has astonishing benefits for the employees and their families as well.
Apart from this, upon working on certain shortcomings, the company has a very bright future, which is something considerable for an employee to choose any company for work.
Therefore, it is an advantageous move for any employee to opt for National Grid as their workplace.
Frequently asked questions:
- Does the company have a long-term vision?
Yes, the company has a long-term vision to eradicate hydrocarbon deposits from its US gas and electric systems, allowing the people and communities it serves to meet their heating needs without using fossil fuels in the forthcoming years.
However, it aims to be a low-risk business that generates shareholder value through dividends and asset or equity growth.
- What are the salaries offered by National Grid?
The salaries provided by the company range from $46,988 to $298,680. However, the jobs of VP of Sales, VP of Marketing, and VP of Product due offer the highest estimated salaries, while the jobs of CS Rep, Admin Assistant, and Desktop Support offer the lowest estimated salaries.
