11 Oct 2007
Hewitt Associates, The RBL Group and FORTUNE magazine have released the 2007 Top Companies for Leaders. The study involved more than 560 organisations globally. The Top Companies for Leaders lists included twenty Global winners, ten Regional winners for the Asia Pacific and two Country level winners for Australia and New Zealand. Hewitt initiated the Top Companies for Leaders research in 2001 seeking to identify those factors that allow financially successful organisations to consistently produce great leaders. Today, this is the most comprehensive global leadership study in the world, examining how financially successful organisations consistently produce great leaders.
TrustPower is a New Zealand based electricity generator/retailer, which is developing its first wind farm in Australia. TrustPower Limited has been named in the exclusive group of country winners. These companies share some key attributes in their approach to leadership which sets them apart from others. Our research has shown that by having the right leadership practices and processes
in place, maintaining a strict focus on critical talent at all levels, and having a continuous desire to improve, Top Companies cultivate and nurture their talent, and have a reputation for doing it well.
TrustPower, named in 2006 by the National Business Review as the top performing NZX listed company over the previous ten years, has doubled its operating surplus over the last five years. In addition, shareholder value has quadrupled over that period. Attracting and retaining key talent and demonstrating strong accountability for leadership behaviours at all levels of the organisation has been a significant contributor to this result.
TrustPower's Chief Executive, Keith Tempest, said:
"TrustPower develops and communicates clear strategies across the company and aligns employee accountabilities and responsibilities to those strategies. At TrustPower everyone is a leader. With continual training, mentoring, supporting and empowering, our leaders can get on with the job, while at all times having regard for the Company's values."
Participating companies completed a detailed questionnaire examining the factors influencing both the depth and quality of leadership. All entries were analysed for responses consistent with strong leadership practices. Based on this analysis, 250 globally were identified as finalists. Each finalist company was then asked to complete
in-depth interviews with Hewitt to gain greater clarity and precision around their specific leadership practices. This data was then presented to a diverse judging panel of six distinguished experts who were nominated by Hewitt Associates as being world renowned leaders in the area of leadership and business.
Many winning companies are included in the Fortune 500 list
and it is an extraordinary achievement for TrustPower to be recognised amongst these world-class organisations. TrustPower is the only New Zealand Company to make the winners list.
Hewitt Associates, The RBL Group and FORTUNE magazine congratulate TrustPower on this achievement.
Hewitt Associates LLC
Market Leader, Australia and New Zealand
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