Target today announced the company has been named to the 2009 list of Top Companies for Leaders in North America. Top Companies for Leaders is the most comprehensive study of organizational leadership in the world, conducted by Hewitt Associates, a global consulting and outsourcing company, in partnership with The RBL Group, a strategic HR and leadership systems advisory firm, and Fortune. An expert panel of independent judges selected and ranked winners based on criteria including strength and depth of leadership practices, culture, examples of developing world class leaders, business performance and company reputation.
Target ranked number 12 on the list, which includes a total of 25 companies. When comparing the North America Top Companies for Leaders with 177 other companies, Hewitt identified one distinguishing characteristic that sets them apart from their peers—even during the economic downturn, North America Top Companies remained committed to building leadership capability within their organizations. In other words, tighter budgets and fewer resources forced these organizations to think and act smarter and more creatively about what really mattered when it came to leadership—but they didn’t lose focus.
“We are passionately committed to leadership development and view it as critical to our long- term success,” said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation. “We recognize that the strength of our brand and our strategy over time lies in the talent and dedication of our team and the strength of our leaders.”
“Hewitt would like to congratulate Target as being named one of the North America Top Companies for Leaders,” said Bob Gandossy, global practice leader of Hewitt’s Leadership Consulting practice. “All global companies today are facing a number of complex business and economic challenges. Through our research, it’s clear that Top Companies such as Target do not abandon key leadership and talent efforts in favor of short-term goals. Leaders at these organizations are passionate and committed. They have an intense focus on talent and their leadership programs are practical, relevant and aligned with business goals--in good times and in bad. This mindset is not only what sets North America Top Companies apart from the rest, it’s what differentiates successful businesses from unsuccessful ones.”
About the Top Companies for Leaders Study
The Top Companies for Leaders study includes 537 organizations around the globe, with an average employee size of 31,443. Eighty-two percent of the participating companies had revenues of $100 million or more. Nearly 42 percent have operations in all regions around the globe.
Hewitt, The RBL Group and Fortune utilized a three-step screening process to identify the finalist companies. This included assessing survey responses, conducting in-depth interviews and analyzing financial performance in relation to industry. Hewitt provided this information to a panel of independent judges in each region to select and rank a 2009 Top Companies for Leaders list in Asia-Pacific, Europe, Latin America and North America.
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,744 stores in 49 states nationwide and at Target.com. Target is committed to providing a fun and convenient shopping experience with access to unique and highly differentiated products at affordable prices. Since 1946, the corporation has given 5 percent of its income through community grants and programs like Take Charge of Education. Today, that giving equals more than $3 million a week.