GE, a global diversified technology company, has secured a top place in Chief Executive magazine’s annual ranking of the 40 Best Companies for Leaders for 2013.

GE rose to the second spot on this year’s list, up from the third in 2012, with the selection based on several criteria including the commitment of the CEO to leadership development programs, depth of the leadership funnel and shareholder value performance, among others.

Chief Executive magazine, published from the US, focuses on providing innovative ideas, practical strategies and proven tactics for top executive leaders. Since 2005, the magazine has been identifying top global companies that seek to develop talent with the ‘Best Companies for Leaders’ ranking.

GE was recently named ‘World’s Best Company for Leadership’ for the third year in a row by Hay Group, and the new ranking further demonstrates the company’s commitment to identify and nurture talented business leaders within the organisation through regular training and development programmes.

Nabil Habayeb, GE’s president and chief executive officer for Mena and Turkey, said: “GE works to be a company that always gets better by understanding where it fits in different countries and industries, and the society.

“In this, we place the highest emphasis on our workforce, supporting them to emerge as inspiring business leaders through continuous leadership and training programs. The top place in the ‘Best Companies for Leaders’ ranking underlines our commitment to create a strong talent pool of professionals and further strengthen their leadership skills.”

He added: “In the Middle East, North Arica and Turkey region, one of our fastest growing international markets, we are building on our legacy of over 80 years by aligning our development goals with those of the governments. We remain committed to nurturing youth talent, and providing our team members the opportunity to identify their potential, thus supporting personal and professional growth.”

The annual Best Companies for Leadership ranking is based on a survey of leading organizations globally, and is conducted in partnership with US-based Chally Group Worldwide, a sales and leadership talent management firm.

The various parameters for deciding the ranking include having a formal leadership process in place, the commitment level of CEO to the leadership development program, as measured by the personal time spent on these activities; and the depth of leadership funnel as measured by the percentage of senior management positions. The ranking is also based on the number of other companies that report recruiting from the company being evaluated and shareholder value performance metric based on 10-year-growth or decline in market capitalization. – TradeArabia News Service