Press Release
January 22, 2002

Graniterock Named To “100 Best Places to Work in America”

Fifth Year Local Company has been Included on Celebrated List

In Fortune magazine’s fifth annual evaluation of America’s workplaces, Graniterock was named to the “100 Best Companies to Work for in America.” Graniterock moved up again this year from seventeen (17) to the sixteenth position. The ranking, which will appear in the February 4, 2002, issue of Fortune, was compiled through extensive research, analysis, and a survey of more than 36,000 employees at over 200 companies nationwide. Graniterock is one of only 28 companies that have been on the list since its inception in 1998. Graniterock was notified by telephone call that it was on the list Monday morning at 5:00 am (8:00 am in New York City where the announcement was made).

Fortune commissioned best-selling authors Robert Levering and Milton Moskowitz to compile the list, using methodology similar to that used for their books to assess “great workplaces.” For the Fortune list, Levering and Moskowitz screened thousands of companies and then invited 279 companies to participate in the evaluation process. To be eligible, companies must have more than 500 employees and have been in business for at least 10 years.

Candidate companies were rated on a 175-point scale. Employees participated in a scientific random sample survey process regarding their work environment, trust in management, pride in work, and camaraderie. Each participant company completed a 31-page inventory of human resource polices and practices, such as hiring, promotion, compensation, and recognition, and workplace statistics including turnover rate. The numerical employee survey results and an assessment of the inventory were used to determine final company rankings.

Graniterock appeared with well-known and respected employers such as Cisco Systems (#15), J. M. Smucker (#24), Microsoft (#28), Nordstrom (#84), Federal Express (#85), Men’s Warehouse (#100), and Deloitte & Touche (#35). Graniterock also appeared on Fortune’s list each of the last five years in which the survey has been conducted. Graniterock is among the smallest firms to make the list. Graniterock has 827 team members.

“I am often asked what it takes to be on the list of the 100 Best and I think the answer surprises most people,” said Bruce W. Woolpert, president & CEO. “While pay and benefits are important, they do not alone cause an individual to rate an employer as a great place to work. The study authors have found that great places to work are places in which people have a high level of responsibility for the company’s success and improvement. For example, the role of a manager is not to direct people’s activity but instead is to support the learning and skill development of others so each person can lead his or her own work. This gives each team member unusual control and authority to direct how his or her work gets done and how it is improved. At Graniterock, we call this self-leadership,” Woolpert stated.

Granite Rock Company was founded on Valentine’s Day, February 14, 1900. As the Company approaches its 102nd Anniversary, Graniterock will be celebrating new office openings in Watsonville and Oakland. Graniterock has recently moved into new 62,000 square foot facility in Watsonville; only the second time that the Company has moved its principal offices in 102 years. Graniterock has operations in Watsonville, Santa Cruz, Seaside, Salinas, Hollister, Aromas, Felton, Oakland, San Jose, Redwood City, and So. San Francisco. The Graniterock Pavex Construction Division is a significant regional heavy engineering contractor building roadways, airports and private commercial and residential projects. Graniterock has also been the recipient of the Malcolm Baldrige National Quality Award and the Governor’s Golden State Quality Award.

Note to Editors: Graniterock is on the Fortune 100 list. A similar sounding company, Granite Construction Company, is not associated with Graniterock or Granite Rock Company and is not on the list. VisitFortune’s web site for the list of the Top 100 companies and other related information. More information on the 100 Best is expected to appear on Fortune’s web site starting Tuesday morning, January 22, 2002.

For more information, contact:
Bruce W. Woolpert, Graniterock, 831.768.2001
Carrie Welch, Fortune, 212.522.6724
Caroline Plauche, Fortune, 212.522.2134