Fortune magazine's annual list is considered the definitive report card on corporate reputation.
Minneapolis – Feb. 19, 2016 - When Tarah Fenn decided it was time to change careers, one company topped her list.
“I really wanted to work at Medtronic,” Fenn said. “I had tremendous respect for the company because of its reputation for serving patients and for how much it valued its employees.”
As it turns out, many of the world’s top business executives share Fenn’s admiration.
Fortune magazine announced today that Medtronic is included on its list of the World's Most Admired Companies for 2016. The list is considered one of the leading measures of corporate reputation among the world’s largest companies. Medtronic is ranked second in the Medical Products and Equipment category.
“It’s an honor to be named by our business peers to Fortune magazine’s list of most admired companies,” said Omar Ishrak, chairman and CEO of Medtronic. “It’s a tribute to the hard work of all 85,000 Medtronic employees and their dedication to our Mission of alleviating pain, restoring health and extending life for our patients,” he said.
Fortune magazine develops the Most Admired list by surveying leading financial analysts, as well as top executives and board members from major corporations around the world.
Companies are scored in nine key areas of financial performance and business management. The nine categories are: management quality; quality of products/services; innovation; value as a long-term investment; soundness of financial position; ability to attract, develop and retain talent; community responsibility; wise use of corporate assets; and effectiveness in conducting a global business.
“Our employees are inspired by and focused on our Mission,” said Carol Surface, Medtronic chief Human Resources officer. “We work hard to support them by creating an environment that welcomes diverse perspectives and allows everyone to bring forward their best ideas. This recognition is a reflection of our talented employees and the innovative solutions they create to solve some of healthcare’s toughest challenges.”
Fortune magazine ranks the top 50 companies worldwide. Other companies that score well on the surveys but finish outside the top 50 are considered “most admired” although they’re not ranked by number. Medtronic made the latter list. Over the years, Medtronic has regularly appeared on the Most Admired Companies list, which dates back to 1982.
Fenn’s dream of working at Medtronic came true just over a year ago. She’s now a member of the Research and Technology support team within Medtronic’s Cardiac, Rhythm and Heart Failure business. She’s not surprised Medtronic has been recognized as one of the world’s most admired companies.
“This isn’t just a place where you check a box and come to work,” she said. “Your work actually means that you are impacting lives. It doesn’t matter if you’re in a support role or if you’re an inventor. Everyone is valued and we know that our work makes a difference. It’s gratifying to know I work at a company that’s so well respected. I’m grateful to be a part of it.”
For more information about Medtronic and its Mission to alleviate pain, restore health and extend life, visit Medtronic.com.
To learn about career opportunities, visit Medtronic.com/careers.