RISMEDIA, Nov. 28, 2008-Weichert Relocation Resources Inc. (WRRI), one of the world’s leading relocation and assignment management companies, has been inducted into the 2008 Palladium Balanced Scorecard Hall of Fame for Executing StrategyTM in recognition of the company’s achievements in driving breakthrough performance results using the Balanced Scorecard (BSC) methodology.
WRRI is the first relocation and assignment management company to receive this distinction from the Balanced Scorecard Collaborative, the education and certification division of Palladium Group, Inc. As a Balanced Scorecard Hall of Fame member, WRRI joins past winners such as AT&T Canada, Best Buy, Exxon Mobil, Motorola, Siemens, UPS and Wells Fargo.
“It’s a distinct honor to be recognized by the Balanced Scorecard Collaborative for our success in executing strategy,” said Aram Minnetian, president of WRRI and architect of the company’s BSC Enterprise Model. “We are proud to be the first relocation company to attain the coveted Balanced Scorecard Hall of Fame status. This award offers further evidence of our brand differentiation and commitment to provide clients with a unique value proposition.”
In the five years since adopting the BSC, WRRI has successfully implemented scorecards for its entire global workforce and supplier networks, while achieving continuously higher levels of scorecard goal achievement across its key BSC metrics.
“Our Balanced Scorecard program has helped us attain unprecedented levels of financial performance, customer satisfaction, colleague engagement and process innovation,” said Minnetian. “The program has made us a better company, and represents one of the most important and rewarding business decisions that we have made in the past five years.”
Since implementing the BSC, WRRI has seen its colleague engagement levels rise to 73%, which is almost three times the average corporate rate of 26%, according to BlessingWhite’s 2006 Employee Engagement Survey.
“Research indicates that the most successful employees are those who understand how the work they perform impacts their company’s success,” said Minnetian. “The Balanced Scorecard has provided a framework to define our strategy, communicate it to our employees, and align it with individual performance. This approach has helped WRRI create a culture centered around meaningful work and empowerment.
“I am most proud of the manner in which our colleagues have embraced the Balanced Scorecard principles,” added Minnetian. “Our success with the Balanced Scorecard and induction into the Hall of Fame are entirely the result of their commitment.”
Created by Dr. Robert Kaplan and Dr. David Norton in 1992, the BSC has been adopted by several thousand corporations worldwide since its inception, and was cited by the Harvard Business Review as one of the most important management ideas of the past 75 years. Launched in 2000, the BSC Hall of Fame Program publicly honors organizations that have successfully implemented the methodology to achieve and sustain breakthrough performance results.
“What WRRI has done in the five years since adopting the Balanced Scorecard is truly remarkable and an excellent illustration of a strategy-focused organization,” said Robert L. Howie, Jr., managing director of Palladium and Director of the Hall of Fame program. “WRRI has set a new performance standard for companies within its industry by aligning its global workforce around a common strategy, and motivating its employees to make executing that strategy everyone’s job.”
For more information, visit wrri.com.
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