SAN JOSE, Calif., March 3, 2016 /PRNewswire/ -- Cadence Design Systems, Inc. (NASDAQ: CDNS) today announced that FORTUNE magazine has named Cadence #52 on its list of the "100 Best Companies to Work For®" in 2016. For the second consecutive year, Cadence was recognized by FORTUNE for its dynamic culture, where employees are passionate about creating innovative technology and driving customer success.
When Cadence® President and Chief Executive Officer Lip-Bu Tan joined the company in 2009, he made a commitment to fostering a culture of innovation. "Our company's success is fueled by the open culture we have created, listening to our employees and empowering them to work together to delight our customers and make a difference to the future of electronics," said Tan. "Being named to FORTUNE's list of the 100 Best Companies to Work For is a tremendous honor, and achieving this recognition for the second year in a row speaks to the achievements of our employees and the strength of our culture."
"We hire passionate people who want to tackle some of the biggest challenges facing the electronics industry," said Tina Jones, senior vice president of Global Human Resources at Cadence. "We are committed to providing an environment where employees thrive, and we believe that our unique culture is a competitive advantage. This honor is a result of what our employees have created, both in terms of our culture and our business."
Highlighting Cadence's worldwide culture, the FORTUNE "100 Best" ranking adds to the Great Place to Work® awards the company has already received in Korea, Greater China, Canada, UK, India and Ireland. Cadence was also named the #21 World's Best Multinational Workplace in 2015.
"This year's 100 best workplaces show – again – that trust fuels financial performance," said Michael Bush, CEO of Great Place to Work®. "Great workplaces have significantly less turnover, outperform peers in the stock market and enjoy high levels of collaboration, communication and trust—crucial ingredients to innovation. The 100 best are setting the standard for all businesses."
FORTUNE partners annually with Great Place to Work to conduct the most extensive employee survey in corporate America to identify the 100 Best Companies to Work For. Two-thirds of a company's survey score is based on the results of the Trust Index© Employee Survey, which is sent to a random sample of employees from each company. This survey asks questions related to employees' attitudes about management's credibility, overall job satisfaction and camaraderie. The other third is based on responses to the Culture Audit©, which includes detailed questionnaires 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.
For more information on the Cadence "100 Best Companies to Work For" recognition, please visit http://fortune.com/best-companies/cadence-52/.
About Great Place to Work
Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures. In the United States, Great Place to Work® produces the annual Fortune "100 Best Companies to Work For®" list and a series of Great Place to Work® Best Workplaces lists including lists for Millennials, Women, Diversity, Small and Medium Companies and over a half dozen different industry lists.
Fortune is a global leader in business journalism known for its unrivaled access to industry leaders and decision makers. Founded in 1930, Fortune has transformed into a digital-first operation with nearly 17 million monthly unique visitors on Fortune.com as well as 3.4 million global readers in print. Fortune is home to some of the strongest business franchises, including: Fortune 500, Best Companies to Work For, World's Most Admired Companies, Fastest Growing Companies and Most Powerful Women. The Fortune Conference Division extends the brand's mission into live settings, hosting a wide range of annual conferences for top-level executives, including the FORTUNE Global Forum and the Most Powerful Women Summit.
Cadence enables global electronic design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software, hardware, IP and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. The company is headquartered in San Jose, Calif., with sales offices, design centers and research facilities around the world to serve the global electronics industry. More information about the company, its products and its services is available at www.cadence.com.
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SOURCE Cadence Design Systems, Inc.