Thursday, February 4, 2010

Wings of Success

WestJet has done it again.

The Calgary-based airline - famous for creating a "seamless brand"- has been inducted into Canada's 10 Most Admired Corporate Cultures Hall of Fame at a recent awards gala hosted by Waterstone Human Capital.

For the last four years, WestJet has claimed top spot in Waterstone's study of Canada's 10 Most Admired Corporate Cultures. The program recognizes Canadian companies for having a culture that helps them take flight and achieve great financial results and competitive advantage.

On track to become one of the world's five most profitable international airlines, WestJet attributes corporate culture as the wind beneath its wings.

Interesting to note that Canada's most-admired corporate cultures also outperform the rest when it comes to dollars and cents.

"The performance of Canada's 10 Most Admired Corporate Cultures of 2009, in terms of three-year compounded annual revenue growth, has significantly outpaced the S&P/ TSX by an average of over 300% --or three times," says Marty Parker, managing director of Waterstone Human Capital, a Toronto-based executive search and human capital consulting firm that has been running the program since 2005.

Results of the 2009 Canadian Corporate Culture Study show that 82% of respondents said that "leading by example" is a key strategy used to align culture. Furthermore, when it comes to hiring, 75% of executives surveyed said that cultural fit is more important than necessary skills.

In case you were wondering, here, in alphabetical order, are Canada's 10 Most Admired Corporate Cultures of 2009:

Acklands-Grainger Inc.
Aviva Insurance Company of Canada
Ceridian Canada Ltd.
Corus Entertainment
Fairmont Hotels and Resorts
GoodLife Fitness
Medavie Blue Cross
Starbucks Coffee Canada
Walmart Canada

The special category award recipients for 2009 are:

Mount Sinai Hospital (Most Admired Corporate Culture – Public Sector)
Enbridge Inc. (Most Admired Corporate Culture – Energy and Natural Resources)
Workopolis (Most Admired Corporate Culture – Best Emerging Organization)
Whole Foods Market (Most Admired Corporate Culture – The Green Award)

"The great paradox of the 21st century is that, in this age of powerful technology, the biggest problems we face internationally are problems of the human soul"

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