Nov 12, 2009
Canadian Press
Telus, Walmart, Corus among Canada's top 10 admired corporate cultures, survey shows

TORONTO - Telus Corp. (TSX:T), Corus Entertainment (TSX:CJR.B) and Walmart Canada are among the 2009 top 10 "most admired" corporate cultures in Canada, a new survey shows.

The list, compiled by executive search firm Waterstone Human Capital, ranked Canadian companies with strong corporate cultures, despite the economic downturn.

Companies on this year's list outpaced the S&P/TSX by an average of more than 300 per cent in the past three years, the survey said.

"This proves that an outstanding corporate culture has a significant impact on performance, and that culture is an incredibly valuable asset," said Waterstone managing director Marty Parker.

Other companies on the list include; Acklands-Grainger Inc., Aviva Insurance Company of Canada, Ceridian Canada Ltd., Fairmont Hotels and Resorts, GoodLife Fitness, Medavie Blue Cross and Starbucks Coffee Canada.

Waterstone compiled data using results from each of the public and private companies on the list, and compared it to the S&P/TSX 60.

The results show the S&P/TSX compound annual growth rate was 3.8 per cent from December 2005 to December 2008. That compares to a growth rate of 12 per cent for the ten companies on the list over the same time period.

"What this tells us is that if an organization's culture is strong, even with a major downturn, it outperforms the majority of its peers," Parker said.