For 20 Years, a Korn Ferry Hay Group-Fortune Partnership: The World’s Most Admired Companies
By Tierney Remick, Vice Chairman, Board and CEO Services
For the 20th year running, Korn Ferry Hay Group is proud to have partnered with Fortune on their list of the World’s Most Admired Companies.
Are there dots to be connected? Lessons learned? We think so.
CEOs of the top companies on the list speak openly about how they continue to drive performance in an increasingly competitive economy. What makes the critical difference? People. And when these leaders say “people are our greatest asset,” it is more than mere lip service. Specifically, these leading companies, and their CEOs, place a high value on the ability to attract and retain the talented people and high-caliber management who can ensure their ongoing success, even in challenging times.
From our perspective, one of the key differentiators that correlates with success in business now is the quality and optimization of an organization’s talent. Repeatedly, the data tells us that companies that embrace a long-term focus on developing and retaining talent have higher levels of creative innovation and sustainable growth, as well as reduced turnover and greater stability. But in a business environment that is increasingly short-term focused, too many companies and leaders view talent merely as a cost rather than an investment and, thus, never really optimize the most competitive asset that is their people.
In today’s marketplace, client service and customer engagement are, and will continue to be, paramount. The leaders of the Most Admired Companies have embraced that same mentality internally when it comes to talent management and have been rewarded with real, measurable returns. That’s one lesson all companies would be smart to emulate.
Read more about the World’s Most Admired Companies here.