Cadence Design Systems : Named to FORTUNE’S 2015 List of “100 Best Companies to Work For”

Cadence Named to FORTUNE'S 2015 List of "100 Best Companies to Work For"

Cadence Design Systems, Inc. (NASDAQ: CDNS) today announced that FORTUNE Magazine has recognized Cadence on the "100 Best Companies to Work For®" list in 2015. In its first year applying for this prestigious recognition, Cadence was acknowledged for its reinvigorated culture, where employees are passionate about creating innovative technology and driving customer success.

It is employees' commitment to the Cadence® culture that fueled the company's dramatic turnaround that began in 2009 under President and Chief Executive Officer Lip-Bu Tan. Under Tan's leadership, the company has achieved consistent growth and strong returns for its shareholders. "Being named to FORTUNE'S list of 100 Best Companies to Work For is a tremendous honor," said Tan. "It speaks to the achievements of our employees, and to the strength of our culture. The enthusiasm of employees for innovation and solving customer problems is central to who we are and has been a critical component in our success."

"Cadence employees are proud to work for a company that gives them the freedom to innovate and the opportunity to work closely with some of the most advanced technologies in the world," said Tina Jones, senior vice president of Global Human Resources at Cadence. "We attract high-caliber talent, and employees appreciate that the company encourages their career development. This contributes to the company's low attrition rate and why 40 percent of U.S. employees have stayed with the company for more than a decade - often getting to experience different roles and new, challenging problems to solve."

The sense of team at Cadence is enhanced by a highly visible recognition program, where employees can recognize their peers in all 25 countries where the company operates, resulting in rewards to over 90 percent of employees over the last two years. Cadence empowers employees to make a difference at work, and encourages them to make an impact in their communities. The company provides each employee with five paid days off every year to volunteer in a way that is most meaningful to each employee, and gives employees the resources to find volunteer opportunities. Cadence encourages open communication, and volunteer time is one of the many programs that the leadership team has put into place based on employee input.

Showcasing the depth of its shared culture worldwide, the FORTUNE "100 Best" ranking adds to the Great Place to Work® awards the company has already received in Korea, China and Ireland. 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.

"It is no coincidence that the 100 best workplaces are also extremely profitable and successful companies," said China Gorman, CEO of Great Place to Work. "Research by our firm definitively showcases that the best places to work outperform their competitors. There is an absolute ROI when companies invest in creating a high-trust workplace culture. Great workplaces have significantly less turnover and produce employees who have a vested interest in the company."