What matters to you at Work?

The Singapore Business Times has a great article on what it takes to be a firm that is admired by it's employees. It isn't just great salary! And one of the reasons that the World's Most Admired Companies pay approximately 5% less in salary than comparable firms is that they tend to promote from within. As important as the highest salaries is a company's "brand" (how it is perceived by customers and employees alike) and how well it grooms its employees for promotion.

Another way they compensate for what seems like lower pay is through larger annual bonuses. Additionally, these most admired companies are great about communicating what they offer and their business strategies actually produce results!

The Hay Group, in partnership with Fortune Magazine, does the World's Most Admired Company poll of Fortune 1000 and Global 500 companies. They are judged on the following criteria:

1. Ability to attract and retain talented people
2. Quality of management
3. Social responsibility to the community and the environment
4. Innovativeness
5. Quality of products or services
6. Wise use of corporate assets
7. Financial soundness
8. Long-term investment value
9. Effectiveness in doing business globally

The five most admired companies in the world are:
1. Apple
2. Berkshire Hathaway
3. General Electric
4. Google
5. Toyota

Fortune has the rest of the list here.

Image Source The Sydney Morning Herald
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