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Cadence Ranked 7th Among 100 U.S. Companies Recognized for Employee Sentiment and Satisfaction
SAN JOSE, Calif., October 22, 2021--(BUSINESS WIRE)--Cadence Design Systems, Inc. (Nasdaq: CDNS) was featured in Newsweek’s Most Loved Workplaces list for 2021, ranking at #7 among the top 100 companies recognized for employee happiness and satisfaction at work. Produced in collaboration with the Best Practice Institute (BPI), a leadership development and benchmark research company, the Newsweek list results were determined after surveying more than 800,000 employees from businesses with workforces varying in size from 50 to more than 10,000.
"Our global team is passionate about delivering innovative electronic design software, hardware and IP solutions for customers and having fun while doing it," said Cadence president and incoming CEO, Anirudh Devgan. "Even in the midst of unprecedented challenges due to the pandemic, our employees have exemplified incredible resilience and lifted one another up. We’ve worked tirelessly to ensure our employees have felt supported during this time, and making the Most Loved Workplaces list is a testament to our strong employee culture where we collaborate as One Cadence—One Team."
"In the wake of the pandemic, business hit hurdles in terms of retaining and attracting employees, but the companies that made this list are delivering the respect, care and appreciation that it takes to create a positive workplace that nurtures talent," said Nancy Cooper, global editor in chief, Newsweek.
"The best way to determine the strength of a company’s culture is by measuring the degree of love employees feel for their workplace," said Louis Carter, CEO and founder of Best Practice Institute and Most Loved Workplace. "Love of workplace or Most Loved Workplace (MLW) is the intersection of intense feelings toward aspects of a company, perception of how your company feels about you, and attitudes toward respect and treatment of employees. Our study proves that intense amorous feelings for the workplace are a greater predictor of organizational outcomes such as organizational commitment and perceived willingness to produce more for the company."
The full Newsweek list of 2021’s Most Loved Workplaces will be featured in the magazine’s October 29 print edition and is currently available online at www.newsweek.com/americas-most-loved-workplaces-2021.
To identify the top 100 companies for the Newsweek ranking, companies were evaluated and scored as follows: 35% of the initial score was based on employee survey responses; 25% was derived from analysis of external public ratings from sites such as Comparably, Careerbliss, Glassdoor, Indeed and Google; and 40% came from direct interviews with and written responses from company officials. Newsweek then conducted additional research into every company on the list, as well as the top runners up, to determine the final list of 100 companies and their ranking. (The list includes both U.S. firms and companies with a strong U.S. presence that are based overseas.)
Cadence is a pivotal leader in electronic design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design™ strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence® customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including consumer, hyperscale computing, 5G communications, automotive, mobile, aerospace, industrial and healthcare. For seven years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.
Newsweek is the modern global digital news organization built around the iconic, over 85-year-old American magazine. Newsweek reaches 100 million people each month with its thought-provoking news, opinion, images, graphics and video delivered across a dozen print and digital platforms. Headquartered in New York City, Newsweek also publishes international editions in EMEA and Asia.
About Best Practice Institute
Best Practice Institute is an award-winning leadership and organization development center, benchmark research company, think tank and solutions provider. BPI is the certifying body for Most Loved Workplace® and conducted the original research to create the model and criteria for becoming a Most Loved Workplace®. BPI’s research proves that Most Loved Workplaces produce three to four times better customer service, employee performance and retention than companies not loved by their employees.
For more information on how to apply to become a 2022 Most Loved Workplace, go to http://www.mostlovedworkplace.com.
© 2021 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.
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