FORTUNE Magazine announced that Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been ranked 55 on the 16th annual “100 Best Companies to Work For” list. Umpqua is the only Oregon-headquartered company and community bank to receive this recognition.
“We are honored to be named to FORTUNE’s list of the '100 Best Companies to Work For' for the seventh consecutive year and proud of what it says about our company and our culture,” said Ray Davis, president and CEO of Umpqua Bank. “As always, this recognition is a testament to our associates. Their extraordinary commitment to our culture and to one another allows us to continue building a company of significance, one focused on serving our customers and communities at the highest possible level.”
The recognition adds to a growing list of recent accolades for Umpqua Bank. In addition to being named to FORTUNE magazine’s list of the country’s “100 Best Companies to Work For” the past seven years in a row, last month the company was named the Most Admired Financial Services Company in Oregon by The Portland Business Journal for the eighth consecutive year, and the state’s fifth-most admired company overall for 2012.
The full list of 100 companies can be accessed exclusively on FORTUNE's iPad App today and will be available online Thursday, January 17th at www.Fortune.com/bestcompanies.To select the 100 Best Companies to Work For, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America: 259 firms participated in this year’s survey. More than 277,000 employees at those companies responded to a survey created by the institute, a global research and consulting firm operating in 45 countries around the world. Two-thirds of a company’s score is based on the results of the institute’s Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about management’s credibility, job satisfaction, and camaraderie. The other third of the score is based on responses to the institute’s Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts. After evaluations are completed, if news about a company comes to light that may significantly damage employees’ faith in management, we may exclude it from the list. Any company that is at least five years old and has more than 1,000 U.S. employees is eligible.