2010-02-25 - Survey by Hay Group emphasizes continued commitment to people development
On February 16, Business Week magazine posted on its web site the results of an annual survey conducted by international strategic consultants Hay Group. The study surveyed over 1,800 individuals at 740 organizations around the world and asked them to rate leadership at their own company as well as to identify three other organizations that they believed were best at developing leadership at all levels.
Coming in at number 15, ABB was ranked among the world’s elite corporations, and was described as a “collaboration for innovation” company where employees are encouraged to seek new solutions to problems.
Even more interesting is the fact that some of the trends identified in the Hay Group survey mesh with ABB’s strategy. For example, the study found that top-rated organizations tend to support leadership development regardless of the business climate. Just as ABB has kept up investments in R&D during the economic downturn, so too have the company’s leadership programs remained intact.
The study also noted that the best companies for leadership are more likely to be focused now on “positioning for the future,” which again is very much in line with ABB’s approach during the recession. Reorganizations, especially when they involve staffing cuts, are never easy but the steps the company has taken over the last eighteen months have helped to keep the organization on solid ground. ABB has also taken advantage of market conditions to make small but strategic acquisitions, most recently in the area of machine safety with the purchase of Jokab Safety, which is set to close in March.
Leadership, though, ultimately comes down to people and an organization’s ability to identify and develop new leaders from within. With programs like Leadership Challenge, ABB continues to invest in leadership development, which like R&D forms the bedrock of the company’s future success.