Press Release
February 18, 2000

Graniterock Named to 2001 Fortune 100 “Best Places to Work”

Fourth Year Graniterock has been Included on Celebrated List

Fortune magazine released its much read “100 Best Places to Work for in America” list at 5:00 am this morning (8:00 am in New York City). For the fourth year in a row, Graniterock was again included on the prestigious list. Graniterock moved from 19th place on the list last year to 17th this year.

Researchers and authors Robert Levering and Milton Moskowitz invited 234 businesses to participate in the 2001 project using information in their “best work practices” data base. Levering and Moskowitz have researched employer practices since 1984 when they authored a best selling book on the subject. Employees of U. S. businesses may also nominate their employer.

All 234 companies went through a series of evaluations and assessments. First, they agreed to allow the researchers to randomly select a group of employees to participate in a confidential survey. This year a record 36,106 employees filled out the Great Places to Work Trust Index, a survey that evaluates trust in management, pride in work and the company, and camaraderie. 14,338 of the survey responses contained written comments which were carefully reviewed by the researchers. Two-thirds of the scoring weight is given to survey responses. The remainder of the score is determined by each company’s responses to the Great Places to Work Institute’s Culture Audit, in which it explains its philosophy and practices, and includes supplemental materials—employee handbooks, company newsletters, and videos.

Writing about Graniterock, the researcher stated “the construction company celebrated its 100th birthday last year by taking over Moscone Center in San Francisco for an all-employee celebration. A place to grow—96% of employees say that they are offered training to further themselves.”

Graniterock’s turnover rate is a low 3% per year, there are 716 members of the Graniterock Team, and the Company receives 2,000 applications for employment each year.

Other companies on this year’s list are Deloitte & Touche #33, J. M. Smucker #23, Microsoft #37, Whole Foods Market #41, Hewlett Packard #63, Nordstrom #68, Federal Express #87, Marriott Hotels International #90, Harley-Davidson #92, Cisco Systems #3 and Southwest Airlines #4. The Container Store was ranked in first place.

In reviewing the information on the 100 Best businesses, the researchers concluded that culture is the most important aspect of recruiting and retaining top people. Perks may help somewhat in recruiting, but to keep people firms must continually demonstrate that they respect and treat people as adults.

A summary of Graniterock’s survey information will be provided to the Company in January. Along with Graniterock’s results, the researchers will provide us with feedback of how we did versus the ninety-nine other businesses on the list.

“The survey information is useful because it is a really strong source of information about what the best American companies are doing to build great workplaces,” said Shirley Ow. “The survey information is just one of the many inputs we’ve used as a company to build an even better place to work. Besides the survey information, Graniterock Team Member suggestions and comments have been our primary source of improvement ideas,” Shirley remarked.