NEWARK, DE (January 10, 2005) - - W. L. Gore & Associates, Inc., maker of GORE-TEX® fabric and thousands of other innovative products, today announced it has earned a position on FORTUNE's annual list of the U.S. "100 Best Companies to Work For" for the 8th consecutive year. Gore ranks 2nd overall and first among midsized companies in the magazine's January 24, 2005 issue. Last year, Gore garnered the #12 position.
"When it comes to managing employees, [Gore] does things a little differently," says Fortune. "For example, workers evaluate fellow team members each year to determine compensation." Since 1958, Gore has avoided traditional hierarchy, opting instead for a team-based environment that fosters personal initiative, encourages innovation, and promotes person-to-person communication among all "associates," as employees are known. This kind of unique corporate structure has proven to be a significant contributor to associate satisfaction and retention, and continues to be a factor in Gore's inclusion in the magazine's annual list of top companies.
According to Gore President and CEO Chuck Carroll, the selection reinforces Gore's commitment to key values. "We work hard at maximizing individual potential, maintaining an emphasis on product integrity, and cultivating an environment where creativity can flourish," Carroll said. "A fundamental belief in our people and their abilities continues to be the key to our success, and it is a tribute to our associates and their efforts that we have been honored once again."
In 2004, Gore ranked #1 on the list of the 100 Best Companies to Work For in the U.K., #13 among the 35 Best Workplaces in Italy and #25 of the 50 Best Companies to Work For in Germany.
Perhaps best known for its consumer products like GORE-TEX® fabric and ELIXIR® Strings, Gore is a leading manufacturer of thousands of advanced technology products for the electronics, industrial, fabrics and medical markets. The company is headquartered in Newark, Delaware, and employs almost 7,000 associates at 45 facilities throughout the world.
ABOUT THE FORTUNE U.S. "100 BEST COMPANIES TO WORK FOR" LIST
Authors Robert Levering and Milton Moskowitz initiated the collection in 1984 with a best-selling book, 100 Best Companies to Work For in America. Gore is one of only four companies to be included in their three hardbound and eight subsequent magazine rankings. Selection and ranking was based on a review of responses to a randomly distributed employee survey, written survey comments, company responses to a "people practices" questionnaire, and company literature. In all, over 350 companies were evaluated from more than 1,000 under consideration. Companies are scored in four areas: credibility (communication to employees), respect (opportunities and benefits), fairness (compensation, diversity), and pride/camaraderie (philanthropy/celebrations). The Great Place to Work® Institute, the research and consulting firm founded by Robert Levering, produces Best Companies to Work For lists in more than 23 countries.
CONTACT
Ed Schneider
W.L. Gore & Associates
302-292-4062