"A New Competitive Advantage: Seven Lessons from Outstanding
Employers"
No Author Cited
The Hay Group, December 2002.
This Hay Group report examines what members of Fortune magazine’s
"Best Companies to Work For" list have in common. Their study
identifies seven recurring themes among these organizations:
- They have a clear sense of direction.
- They all emphasize a strong company culture of customer service, quality
and teamwork.
- They believe in a connection between their people and success.
- These organizations provide their employees with the tools to succeed.
- They offer fair and equitable compensation and above average benefits
packages.
- Each has taken steps to create a less hierarchical structure.
- There is often some aspect of their respective cultures that their employees
value and view as unique.
The report finds that factors such as size and industry have little to
do with being an employer of choice, nor does an organization’s avoidance
of layoffs. A wide mix of companies spanning numerous industries made Fortune’s
list, from organizations with fewer than 1,000 employees to large, well-known
institutions such as Cisco and Federal Express. The latter group included
several companies that had recently downsized, though many of those companies
were lauded for how they dealt with staff reductions.
