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The Boston Globe names Eastern Bank to Globe 100’s Top Places to Work 2011

BOSTON, Nov. 7, 2011 – Eastern Bank Corporation has been named one of the Top Places to Work in Massachusetts in the fourth annual employee-based survey project from The Boston Globe.  Eastern Bank was ranked No. 14 in the “large company” category.

“We are very proud to be recognized for the fourth consecutive year as one of the best places to work in Massachusetts,” said Richard E. Holbrook, chairman and CEO of Eastern Bank.  “This is a remarkable compliment to our dedicated team of banking, investment and insurance professionals.”

The publisher of The Boston Globe Chris Mayer stated, “I’d like to extend my congratulations to Eastern Bank for their inclusion in the 2011 issue of The Boston Globe’s Top Places to Work, and for so clearly demonstrating effective ways to create a positive work environment.”

Ninety-two percent (92%) of Eastern employees responded to the survey, which was the highest response rate of all large companies surveyed. 

“These survey results are a strong reflection of what it is like to work here,” said Nancy Stager, executive vice president, Human Resources Director, Eastern Bank.  “This recognition validates and supports our bank-wide efforts to continue to build Eastern to be the best organization for our colleagues.”  

The Boston Globe engaged WorkplaceDynamics, specialists in employee engagement and retention, to survey employees at 237 participating companies, receiving completed surveys from 73,813 individuals.  Each was asked to grade their organization’s performance according to 24 distinct statements, ranging from “New ideas are encouraged at this company,” to “It’s easy to tell my boss the truth.”  In addition, all the employers were invited to complete a 12-question survey on workplace practices. 
To compile the ranking, each employer was measured according to six factors:  direction, execution, managers, career, conditions, and pay and benefits.

All of the participating employers were placed into one of three size groups, based on the number of employees in Massachusetts, to account for the “small company effect” found in such surveys.  Small workplaces were defined as those with 100 to 249 employees; midsize workplaces were defined as those with 250 to 999 employees; and large workplaces were those with 1,000 or more employees.  All companies were then ranked within their size band.

Eastern Bank, the largest independent, mutually-owned commercial banking franchise in New England, offers its employees a multitude of career growth opportunities, a challenging, yet fun workplace environment and a competitive compensation and benefits package that includes a robust pension and 401(k) savings program, and comprehensive health and welfare benefits. 

Nearly 200 years in business, Eastern Bank has earned a reputation in Massachusetts for its commitment to customers and its employees, who work in a variety of departments including Consumer Banking, Commercial Banking, Wealth Management, Insurance, as well as corporate resources such as Credit, Marketing, Human Resources, Finance, Operations, Technology and Customer Service.
     
About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest independent and mutually owned bank in New England, with $7.6 billion in assets and more than 90 branches serving communities from the Merrimack Valley to Cape Cod.  Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way.  Eastern Bank includes Eastern Wealth Management and Eastern Insurance.

For more information, contact: Andrew Ravens, Public Relations, Eastern Bank, 781-598-8528, or e-mail Andrew Ravens.