May 23, 2005
Whirlpool Corp. has been named to the 2005 list of Top 20 U.S. Companies for Leaders, making this the second consecutive year the company has been acknowledged for its focus on developing leaders within the company. The company ranked twelfth out of 373 U.S. organizations with average revenues of approximately $8.3 billion and average employee size of at least 30,000.
Sponsored by global human resources services firm Hewitt Associates and The Human Resource Planning Society (HRPS), the Top 20 Companies for Leaders were selected by an independent panel of judges. In conducting the study, which will be published in a fall edition of Chief Executivemagazine, Hewitt found one element that set the top 20 apart from the rest—rigorous development of their future leaders.
All 373 companies went through a stringent screening process, including a review of survey responses, in-depth interviews and a financial performance analysis in relation to their industries.
According to Whirlpool, its leadership strategy focuses on engaging employees in two main areas— talent management and leadership development. The company has succession plans at all management levels and a long-term strategy intended to ensure that its leadership strategy remains a critical focus regardless of the business cycle.
Talent management focuses on ensuring that there is a succession plan for all levels of executive leadership and middle management, and that the pipeline is filled with diverse and capable employees that can execute the company's strategy. The company also works to build the skills necessary to develop deeper leadership within the organization and holds senior leaders accountable for developing the employees who report to them.
The company works to develop its executives and managers both for their current and future roles. It has created specialized training and development activities designed for officers, directors, and managers, as well as mentoring and coaching at the officer and director levels.