News Release
Continental Airlines Is Named Among "100 Best Companies To Work For In America"
HOUSTON, December 21, 1998 -- Continental Airlines, Inc. (NYSE: CAI.B and CAI.A) today was named one of the "100 Best Companies to Work for in America" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco.
The study picks the nation's best employers based on a range of criteria related to the work environment and company culture, compensation and benefits, and other measures of job satisfaction.
"Since 1994 Continental has focused tremendous energy on reinventing itself, not only for its customers and investors, but also for its people," said Chairman and Chief Executive Officer Gordon Bethune. "This is an independent validation by our employees about how special Continental has become."
The FORTUNE survey was based on a 31-page questionnaire that was distributed to 225 randomly selected Continental employees. FORTUNE and the Great Place to Work Institute developed the survey and the random selection process. Employees of the selected companies were asked to evaluate trust in management, pride in work and camaraderie, and to submit company newsletters, employee handbooks and videos. The rankings will appear in the January 11 issue of FORTUNE.
"This announcement is further evidence of the incredible turn-around we have worked together to achieve, which has brought us from the bottom of FORTUNE's ‘Most Admired Companies' list to our present position as a top employer," said Greg Brenneman, president and chief operating officer.
Continental pointed to several activities which exemplified improvements in worklife at the company since 1994:
- Continental has distributed more than a quarter billion dollars in profit sharing and on-time bonus payments.
- Absenteeism has been reduced by 31 percent.
- Employee turnover has dropped an astounding 52 percent.
- On-the-job injuries have plummeted by 48 percent.
- In an ongoing program, the company has awarded 38 new Ford Explorers (Eddie Bauer Edition) worth $1.5 million in drawings among employees who have perfect attendance at six-month intervals. Winners also get a check to cover income taxes on the prize.
- Tens-of-thousands of Continental employees and their families routinely attend company picnics that celebrate the corporate camaraderie. This year's Houston picnic drew nearly 20,000 participants.
- Hundreds of employees and their guests join Bethune and Brenneman each year in Seattle for signing and delivery ceremonies, which occur as Continental receives factory-fresh Boeing airplanes. The company is flying more new airplanes than any other carrier, with 83 new jets received in 1998 and 81 scheduled for 1999.
- Every year, "The World's Largest Pizza Party" dishes up pies for everyone on staff as the company celebrates teamwork and success.
- Employee purchases of Continental logo items have increased 400 percent at the company store.
Further details of the changes at Continental are contained in a recently released book by Bethune, "From Worst to First." (Proceeds are donated to the Continental employee charity fund, We Care.) The September/October Harvard Business Review includes an article by Brenneman, "Right Away and All at Once -- How We Saved Continental Airlines." This article is reprinted in the December issue of the Continental inflight magazine.
Continental is the fifth largest airline in the U.S., offering more than 2,200 departures daily to 128 domestic and 69 international destinations. Operating major hubs in Newark, Houston and Cleveland, Continental (http://www.flycontinental.com) is strategically positioned for transcontinental travel, and offers extensive service to Latin America and Europe via its Houston and Newark gateways. Continental has begun to implement its strategic global alliance with Northwest Airlines, consisting of the interconnection of the two airlines' route systems, code-sharing arrangements, frequent flyer reciprocity, and other cooperative activities.
The Continental OnePass frequent flyer program was named 1997 Program of the Year and Best Elite-Level Program, as well as having Best Overall Customer Service, Best Program Newsletter and Best Website in InsideFlyer's annual Freddie Awards. In addition, Continental was named "Airline of the Year" in 1997 by Air Transport World and was rated as having the best business class product among U.S. carriers by Condé Nast Traveler, Entrepreneur and Smart Money magazines.