Granite Construction named to Fortune‘s 2005 ‘Best Companies’ list

Granite Construction has been named to Fortune magazine’s 2005 list of the “100 Best Companies to Work For.”

The company was ranked No. 79, and was the only heavy-civil construction company to make the list. This is the eighth year Fortune has produced the list, and only the second time Granite Construction has been ranked, having come in at No. 90 in 2004.

“This is a significant achievement for our entire company,” said William Dorey, president and chief executive of Granite. “We are honored to be a part of a list that not only sets us apart from other construction companies, but also recognizes the quality of our workforce, their dedication, commitment and engagement in what they do day in and day out.”

Fortune specifically mentioned Granite’s generosity in setting aside 3.7 percent of pretax earnings each year for bonuses and incentives for lower-ranking employees; in 2003 it awarded about 900 employees more than $4 million.

“Granite has been fortunate over the years to attract very genuine people with solid ethics and character,” said Michael Thomas, Granite’s vice president of human resources. “This coupled with authentic and caring leadership has evolved a work life that is equally challenging and satisfying, and has resulted in countless quality infrastructure projects built to serve the needs of our community and our nation.

Granite’s motto is “Character Matters.” According to company literature, people are chosen to work at Granite because of their strength of character and reflection of the company’s core values.

Granite Construction, incorporated in 1922, serves both public and private sector clients in 21 states. Aside from an array of construction projects, Granite also produces aggregates, sand, asphalt and other construction materials.

Fortune’s “100 Best Companies to Work For” list is compiled by the Great Place to Work Institute in San Francisco. Selection to the list is based on two criteria: an evaluation of company policies and culture and the opinions of the company’s employees.

More than two-thirds of a company’s total score used in compiling Fortune’s list comes from employee responses to a 57-question survey, which goes to a minimum of 350 randomly selected employees within each company. Items such as attitude toward management, job satisfaction and camaraderie are highlighted by the survey.

A company’s demographic makeup, culture and pay and benefits programs drive the remaining third of the score.

The “100 Best Companies to Work For” list appears in Fortune’s Jan. 24 issue.

Patrick Beeson can be contacted at pbeeson@randallpub.com.