Most Admired Companies Think Globally

May 3, 2006 ( - A study by The Hay Group found that the Most Admired companies globally have very clear criteria for evaluating potential candidates for international assignments as well as well-developed training systems for preparing managers.

In addition, they also have well-established procedures for determining both the total cost and the return on investment associated with international assignments, The Hay Group said in a news release. Almost three-quarters of companies with global operations are successful with sending its employees on international assignments, according to the survey.

According to the Hay Group study findings, these companies are far more likely to make use of planned career assignments to develop global experience, the release said. Also, these same organizations are more likely to have executive teams comprised of members who have held positions outside of their home countries and to have boards of directors with diverse members’ nationalities.

The study also found that these companies have clear and consistent guidelines for performance management and compensation approaches and are more likely than their peers to have global strategies for performance management and compensation. “Compensation strategies are much more likely to be centralized for the Most Admired Companies, with an emphasis on consistency across boundaries and divisions,” said Hay Group Insight Senior Consultant Mark Royal, in the release.

More about the study can be obtained here .