Monday, Dec 29, 2003
South San Francisco, Calif. -- December 29, 2003 --Genentech, Inc. (NYSE: DNA) today announced it has been named by FORTUNE Magazine as one of the "100 Best Companies To Work For" for the sixth consecutive year. Genentech moved up the list to number 15 from number 80 last year. The complete list of companies will appear in the January 12, 2004 issue of the magazine, available on newsstands January 5, 2004, and on http://www.fortune.com today.
"Genentech is proud of its employees and what they have accomplished in 2003. We are pleased that FORTUNE has recognized our efforts to be an employer of choice," said Arthur D. Levinson, Ph.D., Genentech chairman and chief executive officer. "Exceptional employee benefits are only part of the reason why Genentech is a great place to work. Genentech also offers employees the satisfaction of contributing to our mission of developing innovative therapies that help 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 that 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 supports both teamwork and individual initiative to achieve the company's mission of addressing significant unmet medical needs. For example, in the research area, scientists can flourish in a culture that strikes a balance between applied research aimed at unmet medical needs and discretionary time for visionary basic research and individual initiative.
Genentech has also established a comprehensive employee benefits program, which includes an employee stock purchase plan and eligibility for stock options and bonuses. For example, more than 97 percent of Genentech employees participate in the company's broad-based option plan. Additionally, when Genentech's financial performance exceeds the average performance of its peer group, Genentech rewards its employees by distributing an employee bonus pool that is more generous than the average bonus pool of Genentech's peer group.
In addition, the company offers employees flexible work arrangements, a six-week paid sabbatical program, an adoption assistance program and corporate childcare. 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. Sixteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes 12 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. For press releases and additional information about the company, please visit http://www.gene.com.