For the eighth consecutive year, Qualcomm Inc. (Nasdaq: QCOM, News) was named one of Fortune magazine's "100 Best Companies to Work for in America," something the company's executive vice president of human resources called "a tremendous honor."
The Fortune "100 Best Companies to Work for in America" list ranked the company twenty-third, and recognized Qualcomm for giving stock options to all new employees last year and for its dedication to continuing education, specifically, covering the cost of onsite Princeton Review prep classes for the Graduate Management Admission Test and Graduate Record Examinations.
"Qualcomm is extremely proud of its effort to create a positive working environment for employees, and it pays off with the employees' dedication and innovative contributions," said Dr. Daniel L. Sullivan, Qualcomm's executive vice president of human resources.
The rankings will appear in the January 23 issue of Fortune magazine. To choose the "100 Best Companies to Work for in America," Fortune relies on an evaluation of the policies and culture of each company, and the opinions of the company's own employees.
Two-thirds of the total score comes from employee responses to a 57-question survey created by the Great Place to Work Institute in San Francisco. The survey goes to a minimum of 400 randomly selected employees from each company and asks their opinions on attitudes toward management, job satisfaction, and camaraderie.
The remaining third of the score comes from an evaluation of each company's demographic makeup, pay and benefits programs, and other related factors. Each company is scored in four areas: credibility (communication to employees), respect (opportunities and benefits), fairness (compensation, diversity), and pride/camaraderie (philanthropy, celebrations).
Qualcomm's stock fell $1.48 to $47.19 in morning trading.