For the eighth consecutive year, Recreational Equipment, Inc. has been named as one of the “100 Best Companies to Work For” by FORTUNE magazine. The outdoor retailer known for its quality gear, staff expertise and commitment to environmental stewardship ranked 45th on the annual list, and is one of only 22 companies to be named to the magazine’s “Hall of Fame” for appearing on the list every year since 1998.
“It’s an honor to have appeared on the 100 Best companies list for the past eight years,” said REI President and CEO Dennis Madsen. “Over the years our team has helped create a strong positive culture in which we all can take pride, and I thank our employees for their continuing dedication to and confidence in the organization.”
REI, which is also named as the “Best Outdoor Chain Store” in the January issue of Men’s Journal magazine, is one of only two outdoor specialty retailers to be included, and is one of only five Washington-based companies to be named among the “100 Best” this year, including Microsoft, Nordstrom, Perkins Coie and Starbucks. FORTUNE also highlights REI as one of the top 10 list companies for providing the most generous health coverage to its employees.
To create the list, 1,000 candidate companies were asked to participate, with a minimum of 350 randomly selected employees required to complete an employee-opinion survey. Four hundred randomly selected REI employees received the “100 Best” survey, which measured pride in work, job satisfaction and camaraderie. Two-thirds of the list ranking is based on the results of the employee survey, and one-third is based on corporate information regarding REI demographic make-up, benefits, policies and culture. REI is known for its strong employee-centric work environment and programs, including:
- An outdoor-focused culture that actively encourages community involvement and participation in muscle-powered recreation as an extension of our business.
- A work environment promoting camaraderie, open communication and opportunity for advancement, while respecting and encouraging work/life balance.
- Comprehensive benefits including health care options and a company-contributed pension plan.
- Generous discounts on outdoor gear.
- Gear grants for employees who wish to take on a personal outdoor challenge.
- Incentive pay program for all employees directly tied to company or divisional goals.
The list and related stories appear in the January 24, 2005 issue of FORTUNE, available on newsstands January 17 and at www.fortune.com today.
In addition to the FORTUNE lists, REI was included in the 1985 and 1993 editions of the best-selling book 100 Best Companies to Work for in America by Robert Levering and Milton Moskowitz. The research is conducted for FORTUNE by Levering and Moskowitz through their Great Places to Work Institute.
