Monday, Jan 6, 2003
South San Francisco, Calif. -- January 6, 2003 --Genentech, Inc. (NYSE:DNA) announced today that it has been named by FORTUNE Magazine as one of the “100 Best Companies To Work For” for the fifth consecutive year. Genentech is the only biotechnology company to make this year’s list. The complete list of companies will appear in the January 20, 2003, issue of the magazine.
"Once again, we are gratified that Fortune magazine has recognized Genentech as one of the '100 Best Companies to Work For'," said Arthur D. Levinson, Ph.D., Genentech chairman and chief executive officer. "Our employees are the foundation of our business. We are pleased that our work environment and culture enable them to continually innovate and achieve results that improve and extend the lives of patients."
FORTUNE selects the "100 Best Companies to Work For" based on a model that evaluates companies along five dimensions: credibility, respect, fairness, pride and camaraderie. Genentech, along with the other companies on the list, was chosen based on answers 250 randomly selected employees gave to questions on the Great Place to Work Trust Index survey. The survey enables employees to share insights about their views on the competence and integrity of management; the extent to which they feel respected and valued; their sense of pride in their personal work and the company's work; and their sense of community, caring and fun within the workplace. FORTUNE also reviewed information about company benefits as well as corporate newsletters, employee handbooks and videos.
Genentech offers its employees an environment that encourages teamwork but also fosters individual initiative and creativity by giving employees freedom within company goals to apply their skills, knowledge and energy in achieving the company's mission of developing new medicines that improve human health. Genentech scientists are encouraged to conduct research toward potential applications for unmet medical needs but are also given an opportunity to pursue basic biomedical research that may not have an immediate product application. All Genentech employees have the opportunity to propose ideas to and ask questions of Genentech management through direct communication, by attending informal small-group gatherings hosted by company officers, or by participating in company-wide surveys.
Genentech also provides a comprehensive benefits program including an adoption assistance program, corporate child care, a six-week paid sabbatical program and flexible work arrangements. Genentech offers all of its more than 5,000 employees an employee stock purchase plan, and eligibility for stock options and bonuses. Other benefits include free commuter shuttles, a company-sponsored fitness facility, long-term care insurance, health seminars and screenings, take-home meals, an on-site company store, a concierge service and personal travel services.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. Fifteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes ten biotechnology products directly in the United States. The company has headquarters in South San Francisco, California, and is traded on the New York Stock Exchange under the symbol DNA.