Capital One 1998 Annual Report Download - page 8

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potential and move up. As a result, Capital
One has quickly earned a reputation as a
place to build a great career.
Fortune
mag-
azine now ranks us as one of the 100 Best
Companies to Work for in America. Quite a
change from just four years ago, when
recruits were inclined to ask “Capital
Who?” Our associates have always given
the company high marks
in satisfaction surveys
conducted by an indepen-
dent research firm, and in
1998, the scores hit all-
time highs. In fact, our
scores are among the highest of any U.S. company.
With unemployment at a 28-year low in 1998, com-
petition for talent was stiff. But our retention rate was the
best ever and we added 4,526 associates—an increase of
77%—without lowering our high standards by an inch.
We’re extremely proud of those accomplishments. We’re
also very gratified by the energy, creativity and excellence
our associates showed in driving the year’s rapid growth
and innovation.
The top-flight performance of our associates con-
tinues to win awards for Capital One. In 1998, our
excellence in financial management was recog-
nized with not one but three Alexander Hamilton Awards
from
Treasury & Risk Management
magazine. Innovation
in cross-selling, and the technology behind it, earned an
Enterprise Value Award from
CIO
magazine. And
Future
Banker
magazine named us Future Bankers of the Year.
As a company, and through the individual efforts of our
associates, we’re making a long-term social investment
that is already paying major dividends in the communities
where we do business. Each year, we contribute our time,
skills, technology and funds to organiza-
tions that are improving opportunities for
children at risk. For example, in 1998, we
reaffirmed our commitment to our innovative
$1.5 million Leadership Grants program
which enhances the effectiveness of five
service agencies in Richmond, Virginia, by
furthering collaboration among them.
Our associates are help-
ing them as volunteer
tutors, mentors and com-
puter consultants. We
also joined a partnership
to teach basic job skills to
high school and community college students. And we
started a scholarship program that rewards improvement
in math and science grades.
As we begin 1999, Capital One is stronger than ever.
We’re building on four years of record earnings, record
marketing investments and record levels of innovation.
But in all our businesses, competition is fierce. We wel-
come the challenge. And we intend to meet it in the
future as we have in the past: by constantly reinventing
ourselves, our products and our company.
Richard D. Fairbank
Chairman and Chief Executive Officer
Nigel W. Morris
President and Chief Operating Officer
6
Capital One has earned a reputation as
a place to build a great career.
Fortune
magazine now ranks us as one of the 100
Best Companies to Work For in America.