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Tata Steel Named to Fortune’s ‘Most Admired Company’ List

05/17/2010 - Tata Steel Ltd. this year has been ranked among the world’s top 10 of the “Most Admired Company” rated by Fortune magazine and the Hay Group. The award was bestowed in the Industry-Metal category.

Tata Steel Ltd. this year has been ranked among the world’s top 10 of the “Most Admired Company” rated by Fortune magazine and the Hay Group. The award was bestowed in the Industry-Metal category—the same category as companies such as Apple, GE, Singapore Airlines, Alcoa, and ThyssenKrupp.
 
The award is based on peer ranking based on input from the industry as well as its analysts. The rankings were based on many factors, including innovation, people management, use of corporate assets, financial soundness, long-term investment, and global competitiveness.
 
“Tata Steel has always considered its employees as its most valuable asset,” said H M Nerurkar, Managing Director, Tata Steel. “We are happy that this has been recognized by our peers and analysts in the global ranking of Most Admired Companies. This recognition will further strengthen our resolve to ensure the overall development and well being of our people in all respects.”
 
During the presentation ceremony, Israel Berman, Managing Director, Asia Pacific Affairs of Hay Group, said, “Hay Group is very impressed with Tata Steel's management practices particularly in areas such as employee engagement. This is the primary driver behind Tata Steel winning this prestigious award. The impact of Tata Steel's philosophy and values on how they treat their employees is felt across the depth and breadth of the organization, not just in India, but globally.”
 
Hay Group has collaborated with Fortune magazine annually since 1997 to identify, select, and rank the World’s Most Admired Companies and uncover the business practices that make these companies both highly regarded and successful. The firm surveyed senior executives of a sample of companies that participated in the 2010 Most Admired Companies survey, and compared the responses from companies that ranked in the top three in their industries in overall corporate reputation, with those of other participating organizations to better understand how the World’s Most Admired Companies approach employee engagement compared to their peers.
 
Hay Group is a global management consulting firm that works with leaders to transform strategy into reality. They have over 2600 employees working in 85 offices in 47 countries. Their clients are from the private, public, and not-for-profit sectors, across every major industry, and represent diverse business challenges.
 
Fortune magazine is a global leader in business journalism with a worldwide circulation of more than one million and a readership of nearly five million, with major franchises including the Fortune 500 and the Fortune 100 Best Companies to Work For.
 
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top 10 global steel companies with an annual crude steel capacity of over 28 million tonnes per annum. It is the world's second-most geographically diversified steel producer, with operations in 26 countries and a commercial presence in more than 50 countries. The Tata Steel Group, with a turnover of US$29 billion in FY '09, has over 80,000 employees across five continents and is a Fortune 500 company.