Monday, Jan 10, 2005
South San Francisco, Calif. -- January 10, 2005 --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 seventh consecutive year. This year Genentech is number four on the list. The complete list of companies will appear in the January 24, 2005 issue of the magazine, available on newsstands January 17, 2005, and on www.fortune.com today.
"We are delighted that FORTUNE magazine has once again named 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 success. Given our tremendous growth over the past two years, we are especially proud to be recognized for providing an environment that attracts and rewards exceptional people who are motivated to develop breakthrough medicines to help patients."
To select the "100 Best Companies to Work For," FORTUNE relies on two things: an evaluation of the policies and culture of each company, and the opinions of the company's own employees. The magazine gives the latter more weight: two-thirds of the total score comes from employee responses to a survey created by the Great Place to Work Institute. The survey goes to a minimum of 350 randomly selected employees from each company and asks about things such as attitudes toward management, job satisfaction, and camaraderie. The remaining one-third of the score comes from FORTUNE's evaluation of each company's demographic makeup, pay and benefit programs, and the like. The magazine scores companies in four areas: credibility (communication to employees), respect (opportunities and benefits), fairness (compensation, diversity), and pride/camaraderie (philanthropy, celebrations).
Throughout the company's growth from its founding in 1976 to more than 7,500 employees today, Genentech has sought to create a stimulating and challenging yet supportive environment where people can enjoy coming to work every day. Genentech emphasizes working hard, working together and sharing rewards in the pursuit of addressing significant unmet medical needs. The company offers a comprehensive employee benefits program that includes an employee stock purchase plan and eligibility for stock options and bonuses.
In addition, the company offers employees a six-week paid sabbatical program, an adoption assistance program, flexible work arrangements, 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 service.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. A considerable number of the currently approved biotechnology products originated from, or are based on, Genentech science. Genentech manufactures and commercializes multiple biotechnology products directly in the United States, and receives royalties or other income from companies that are licensed to market its products outside of the United States. The company has headquarters in South San Francisco, Calif,, and is traded on the New York Stock Exchange under the symbol DNA. For additional information about the company, please visit http://www.gene.com.