Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today announced that the company has been named in Training magazine's Top 100, a ranking of corporations "unsurpassed in harnessing human capital." More than 800 companies were considered in the ranking.
In addition to ranking 26th on the list of 100, Federated also was singled out as an "Editor's Choice" for its ability to "identify and measure that elusive quality called 'culture.'" According to the magazine, "By paying close attention to those characteristics that make up a positive work environment, Federated... has significantly reduced employee turnover through the company's training initiatives."
Training was particularly impressed with research, conducted by the Gallup Organization, which Federated used to identify the relationship between selling productivity and employee traits and behaviors. The award-winning Federated Leadership Institute is just one company initiative to strengthen management skills as a means to improve results. Federated also uses research to evaluate the strength of the culture in each of its stores.
"We want people to know that when they join Federated, they will be getting the very best leadership training available, from the time they enter the company until the time they are senior executives," said Sherry Hollock, Federated operating vice president for organization development.
Training's editors also noted the Retailology.com recruiting Web site, through which "many of the highlighted career paths illustrate the investments Federated will make in an employee's development."
The Training Top 100 ranks companies according to their level of investment in workforce development. The ranking is determined by assessing a range of qualitative and quantitative data including financial investment in employee development, the type and scope of training and development programs provided to employees, the quality of these programs and how closely such development efforts are linked to business goals and objectives.
Among other companies ranked in the Top 100 are Pfizer, IBM, Intel, Ernst & Young, Ritz-Carlton Hotels, FedEx and Ford Motor Company. Federated was the only Cincinnati-based company to make the list. A complete list is available at www.trainingmag.com.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $15.6 billion. Federated currently operates more than 450 stores in 34 states, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's, as well as macys.com and Bloomingdale's By Mail.
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