NEW sponsors named ‘Best Companies for Leadership’
Friday, May 4, 2012
Nearly half of the firms recently recognized as Top 20 Global Companies for Leadership for 2012 are Network of Executive Women sponsors. NEW foundation sponsors Procter & Gamble, The Coca-Cola Company, PepsiCo and Wal-Mart; title sponsors Accenture, Johnson & Johnson and Unilever; platinum sponsor 3M; and Nestlé, parent company of title sponsor Nestlé Purina PetCare and platinum sponsor Nestlé Waters, were recognized for nurturing talent and fostering innovation by The Hay Group.
The Top 20 Best Companies for Leadership create workplace environments and processes that enable innovation to thrive, according to the global management consulting firm’s Best Companies for Leadership Study. At all 20 companies, leaders regularly celebrate innovation, compared to just 49 percent of other companies in the study. In 90 percent of the top 20 companies, individuals who have an excellent idea can bypass the chain of command without the threat of negative consequences, compared to only 63 percent of other companies.
"The Best Companies for Leadership recognize innovation is key to their future growth and ability to survive in a fiercely competitive global market,” said Rick Lash, co-leader of the Best Companies for Leadership Study. "Many companies prize innovation, but the Best Companies for Leadership approach it in a disciplined way by building agile organizations, promoting collaboration, celebrating successes, learning from setbacks and fostering a culture that encourages a passion for innovation throughout the organization.”
Hay Group’s study also found the 20 companies cast a wide net for ideas and develop their people to think more broadly. All of the companies provide structured opportunities for younger employees to promote innovative ideas, compared to 68 percent of other organizations. Similarly, 95 percent of the Best Companies for Leadership reported senior leaders personally spend time actively developing others; 90 percent said their leaders effectively help front-line employees understand their company’s long-term strategy. Only 48 percent and 53 percent, respectively, of all other companies reported the same.
"The Best Companies for Leadership distinguish themselves by their ability to develop well-rounded, multifaceted talent within their organizations,” said Susan Snyder, co-leader of the Best Companies for Leadership Study. "As innovation increasingly becomes a key differentiator for companies worldwide, best-in-class organizations are doing more to train and develop their people, celebrate diversity, reward collaboration and establish an environment that fosters innovation, creating a competitive advantage in the marketplace.”
Best Companies for Leadership consistently outperform their peers, the study revealed. Over a 10-year period, the top 20 companies produced a 5.39 percent shareholder return, compared to a 2.92 percent shareholder return generated by the S&P 500. Other companies recognized were General Electric, IBM, Microsoft, McDonald’s, Toyota, Southwest Airlines, ExxonMobil, Siemens, Shell, Dow Chemical and FedEx.