Korn Ferry Partners with FORTUNE for the 23rd Year on World’s Most Admired Companies List
January 23 2020 - 8:00AM
Business Wire
-- Research Shows Leading with Purpose,
Inspiring and Energizing Others Are Top Priorities for Solid
Performance and Growth --
New research by Korn Ferry (NYSE:KFY) points to key priorities
of leaders of organizations on this year’s list of FORTUNE’s
World’s Most Admired Companies (WMAC). The research focuses on the
key steps these companies are taking to ensure their people and
organizations are ready for performance and growth in the new
economy.
The World’s Most Admired Companies rankings are the definitive
benchmark on corporate reputation. Korn Ferry has collaborated with
FORTUNE annually since 1997 to identify, select and rank the WMACs
and uncover the business practices that make these companies both
highly regarded and successful.
This year’s research addresses five distinct areas that help
drive current and future success: purpose, leadership &
strategy, capability, accountability and performance.
Purpose
Among this year’s WMAC findings is that leaders believe purpose
is a critical element of future success. Ninety-eight percent of
WMAC executives believe organizational purpose moves leaders toward
shared interest.
The study also shows their confidence in making purpose a
priority, as 97 percent agree the organization’s purpose is
embraced by employees, and 95 percent believe their organization’s
purpose is aligned with the company’s vision and goals.
“This year’s rankings show that success is measured by much more
than just achieving profits,” said Laura Manson-Smith, Korn Ferry
chief commercial officer, Advisory. “Leaders of companies that made
it on the FORTUNE World’s Most Admired Companies list truly
understand that organizational purpose drives employees to give
their all for their company, colleagues and customers.”
Leadership and Strategy
When it comes to leadership and strategy, the Korn Ferry
research finds WMAC companies have agile, trustworthy and inspiring
leaders.
Ninety-one percent of survey respondents believe WMAC leaders
are courageous in making hard decisions in response to realities,
and 77 percent agree leaders are agile and quick in crafting and
implementing strategies.
Nearly all (93 percent) indicate that their leaders inspire and
energize others, say what they mean (92 percent), and do what they
say (96 percent).
Capability
WMAC leaders report having a dedicated and team-focused work
environment. Nearly all (95 percent) believe they have engaged
employees who go the extra mile and bring their full energy to
work, and 83 percent believe that change is seen by employees to be
positive and rewarding.
Attention to unique, yet integrated skillsets is key, with 89
percent of respondents saying they rely on multi-skilled teams
rather than individual superstars, and 81 percent say their company
differentiates career paths to fit different talent profiles.
Accountability
WMAC leaders believe in transparency in objectives, goals and
rewards. Ninety-six percent of WMAC executives believe WMAC
employees have a strong line of sight to organizational goals, and
89 percent say employees are held accountable for personal
objectives.
Respondents believe their companies streamline efforts, with 86
percent saying WMACs simplify roles and accountabilities to reduce
ambiguity, and 88 percent believe objectives are closely aligned
with rewards.
Performance
Finally, WMAC executives are distinctly positive about the
success of their organizations, as 84 percent say their companies
are very successful in shareholder value, and 78 percent believe
their companies are very successful at top-line growth.
Beyond just measuring financial performance, WMAC executives
believe other elements contribute to their overall performance.
Eighty-two percent believe they are very successful at making an
impact on society, and 82 percent believe their company is very
successful at employee engagement.
“Leaders at The World’s Most Admired Companies recognize that
financial success can be sustained only if they have engaged, agile
and purpose-driven teams,” said Mark Royal, associate client
partner, Korn Ferry. “These exemplary companies look beyond current
needs to develop the organizational capacity to respond to unique
opportunities and challenges ahead, with well-developed talent
strategies and success profiles for key roles that emphasize the
capabilities that will be required for the future.”
About the FORTUNE/Korn Ferry World’s Most Admired Companies
(WMAC) research
The WMAC rankings are the definitive benchmark on corporate
reputation. Korn Ferry has partnered with FORTUNE for 23 years to
provide deep insights into the business practices that make these
companies highly regarded and successful.
Korn Ferry’s supplemental research analyzed sentiments of 749
senior executives from companies participating in the annual WMAC
rankings. For the purpose of this supplemental study, WMACs were
defined as those that are among the top 50 overall “all-stars” or
ranked among the top three in their respective industries.
For more information on how the rankings are determined, please
view the full methodology on Korn Ferry’s website.
About Korn Ferry
Korn Ferry is a global organizational consulting firm. We work
with clients to design their organizational structures, roles and
responsibilities. We help them hire the right people and advise
them on how to reward, develop and motivate their workforce. And,
we help professionals navigate and advance their careers.
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Tracy Kurschner 612.309.3957 Tracy.Kurschner@Kornferry.com
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