News Release
Continental Airlines Jumps to No. 23 In Fortune's "100 Best Companies to Work For In America"
HOUSTON, December 20, 1999 -- For the second year in a row, Continental Airlines (NYSE: CAL and CAL.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. Continental jumped to No. 23 on the list from last year’s ranking at No. 40. In number of employees, Continental is the largest company in the top 42 companies listed for this year.
"My co-workers are the reason Continental has received this honor for the second time in two years," said Chairman and Chief Executive Officer Gordon Bethune. "The employees not only make Continental the best airline in the United States, but they also make it a great place to work."
The study selects the nation’s best companies to work for by evaluating work environment and company culture, compensation and benefits, and other measures of job satisfaction.
In addition to company-provided information, a survey sent to randomly selected employees determines the company’s ranking on the list. FORTUNE and the Great Place to Work Institute created the random selection process and the survey, which asks employees to evaluate trust in management, pride in work and camaraderie, and respect and fairness at the company.
The rankings will appear in the Jan. 10, 2000, issue of FORTUNE magazine.
"Employees should be proud of our significant jump to No. 23 on the list," said President and Chief Operating Officer Greg Brenneman. "This demonstrates that we will continue to work together to enhance our work environments."
Continental’s most-senior employee, Joe Caudle, who has worked for the airline for 48 years, helped deliver the entry to the Great Place to Work Institute.
"I’ve seen Continental grow into a major airline - and get into some difficulties along the way," Caudle said. "It gives me the greatest thrill that we placed on the FORTUNE 100 Best Companies to Work For list."
Some of Continental’s workplace and benefits enhancements over the past year include the following:
More than 20,000 Continental and Continental Express employees received market pay increases July 1, 1999, as part of the airline’s commitment to industry standard pay by the end of 2000.
Continental awarded 16 more employees with new Eddie Bauer Edition Ford Explorers. To date, the company has given 55 Explorers worth $1.9 million to employees who have perfect attendance during a six-month time period. Winners also receive a check to cover income taxes on the prize.
Continental absorbed all increased cost of premiums for medical insurance this year.
In addition to the Best-in-Market HMO, Continental made a Best-in-Market Point of Service plan available to employees this year.
An 8,500-square-foot employee cafeteria opens in December 1999 at the Houston George Bush Intercontinental Airport. Employees named it "Gordon’s Galley" in recognition of CEO Gordon Bethune.
Continental added new 401K funds for employees to choose from and increased the maximum pre-tax contribution. Also, for the first time, employees can contribute after-tax dollars to their 401K savings plan.
A new floating holiday allows employees to take an additional day off whenever they desire. Another floating holiday will be added in 2001.
Employees now have access to a web site where they can enroll for benefits online as well as manage their 401K Savings Plan.
In celebration of the airline’s top ranking in the Frequent Flyer Magazine and J.D. Power and Associates Customer Satisfaction study, Continental stations worldwide served ice cream sundaes to employees during "Power" breaks. Continental Airlines is the fifth largest airline in the U.S., offering more than 2,100 departures daily to 129 domestic and 85 international destinations. Operating major hubs in Newark, Houston and Cleveland, Continental (http://www.continental.com) has extensive service throughout the Americas, and to Europe and Asia.
Continental has won first or second place Frequent Flyer Magazine and J.D. Power awards for four consecutive years. Continental has received numerous awards for its BusinessFirst premium cabin (Condé Nast Traveler, OAG Official Airline Guides, Entrepreneur and Smart Money magazines), OnePass frequent flyer program (InsideFlyer’s Freddie Awards) and overall operations and management (Air Transport World’s 1997 Airline of the Year).