Hay Group Reveals "Best Practices" of the FORTUNE Magazine World's Most Admired Companies
Despite economic change, technological advances and increased globalization during the past 15 years
(prHWY.com) March 7, 2012 - New Delhi, India -- Despite economic change, technological advances and increased globalization during the past 15 years, the core business practices that distinguish the World's Most Admired Companies (WMAC) have remained consistent, according to a report released by Hay Group, the global management consulting firm. In its new report, Hay Group analyzed the findings from its 15 years of research to identify the WMAC and uncovered the four most significant characteristics that have consistently enabled the WMAC to outperform their peers.
According to Hay Group's research, the four critical factors for the WMAC's organizational success are:
Executing and enabling strategy
Building structures and processes to sustain long-term performance
Achieving success through people
Placing a high value on leadership and talent
Companies that were able to implement these practices over time consistently attracted and retained the best talent, and outperformed industry peers and the market as a whole.
"Over the past 15 years, we have seen the composition of the World's Most Admired Companies list change, but the attributes that enable those companies to excel have remained the same," said Mel Stark, vice president & regional reward practice leader at Hay Group. "In today's uncertain business environment, it is more important than ever for organizations to place value on these core practices, engaging and developing the talent that will be critical to long-term success."
"Fortune Magazine's World's Most Admired Companies is a landmark of excellence for companies globally. We congratulate all the high-performers featured in the list for this achievement and recognition. It is a matter of pride that some Indian companies have also made it to the Most Admired Companies lists for their respective industries. We are confident that more such names will make it to the global list next year," said Gaurav Lahiri, Managing Director, Hay Group India.
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http://www.haygroup.com/in/press/details.aspx?id=33073
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Nidhi Mehra
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