In 2023, at the sixth edition of the Best Managed Companies Award, an award for the outstanding companies representing Made in Italy, Deloitte Private awarded 79 companies and Essetre srl is among the winners for the fourth year.
The award is promoted by Deloitte Private, with the participation of ALTIS – Graduate School of Sustainable Management of University Cattolica del Sacro Cuore, ELITE-Euronext Group and Small Industry of Confindustria.
“Now in its sixth edition, the award is not only an acknowledgement for the outstanding Italian companies for what they have already done, but it is a real long-term growth programme in which the participating companies are supported by experts from Deloitte in a path that further stimulates their development and strengthening with respect to the Award’s fundamental parameters of success and which are crucial for the success of a company. A path that becomes virtuous and long-lasting, as witnessed by the fact that more than 80% of the companies have won more than one edition, while as many as 7 realities are in their sixth consecutive year of receiving the award”, comments Ernesto Lanzillo, Deloitte Partner and Leader of Deloitte Private in the Central Mediterranean area (Italy, Greece and Malta).
“In this sixth edition, 79 Italian companies were the winners of the BMC Award thanks to their excellent managerial skills in a complex international context,” says Andrea Restelli, Partner at Deloitte and Head of the Best Managed Companies programme in Italy. “Today, organisations and their leaders must be increasingly prepared to overcome the many challenges and continue to be competitive and attractive on the market, by focusing on the right resources, skills and investments and by paying attention to the talents in the company”, adds Restelli.
It is 30 October 2023 and we are at Palazzo Mezzanotte, the headquarters of the Borsa Italiana ELITE- Euronext Group. Here, our company also received this award, which highlights hard work, foresight and a corporate philosophy based on technological progress, the value given to the people in the team, product and service quality, sustainability and other best practices. Which ones? We will discover them together here.
What characterises the award-winning companies?
The Best Managed Companies must fulfil six key criteria:
- strategy,
- skills and innovation,
- commitment and corporate culture,
- governance and performance measurement,
- corporate and social responsibility,
- internationalisation and supply chain.
“The winning companies have expressed excellent managerial skills, demonstrating that they recognise great value in their people and corporate culture, which is able to reward virtuous behaviour,” says Restelli. “Having well-trained and motivated employees, as well as trained leadership capable of identifying and enhancing the talent available, contributes to the overall growth of the company itself”, emphasises Restelli.
“Combining virtuous performance on the pillars explored by the BMC with the ability to attract and retain people with the desired talent, contributes to the winning positioning of the awarded companies and their interest in wanting to build and strengthen an organisational culture, in line with corporate expectations and the desires of the new generations, on which they can base their competitive advantage and longevity”, concludes Lanzillo.
What is meant by corporate strategy?
In the business world, strategy is fundamental. Here is what Best Managed Companies (BMC) leaders emphasise as key to their success.
- Invest in technology and innovation: 82% of the interviewees consider this to be critical: having the appropriate means to face the challenges of the market. Our NC working centres represent the ultimate in woodworking technology and innovation.
- Involving company culture: 81% of BMC emphasise the importance of a company culture at all levels of the organisation, from work to company success. Here at Essetre we promote a team culture in every project.
- Employee engagement and involvement: 74% believe that involving and engaging employees is fundamental. Every piece of the puzzle must be in place and everyone is an essential part of success.
- Development of new products and services: innovation is not only about existing processes, but also about developing new products and services. This is looking ahead, being ahead, participating in the future.
- Management: 65% of the BMC see management development as a major challenge. Strong leadership is essential, just like a good captain for a winning team. Our leadership at Essetre is always oriented towards excellence.
- Human resources development: to face the future, 97% of BMC put human resources development first. This means providing employees with the opportunity to grow, improve and adapt to the change. Essetre is committed to providing training and growth opportunities for its employees.
- Availability of talent with the right skills: 77% of BMC recognise the need to have talented professionals in the company with the right skills for their role.
Investing in skills and innovation.
To increase productivity, the main investment of Best Managed Companies is in
- technology (90%),
- innovation (86%)
- and organisational structure (81%).
With a strong emphasis on talent, 65% of leaders are expanding their workforce with new hires. 6 out of 10 are focusing their innovation efforts on talent management, following investment in R&D (88%), operations (71%) and marketing (62%).
In the near future, the focus will shift to data analytics and business intelligence (83%), CRM (66%) and process automation (65%). In addition, most BMC (84%) have established a formal process to promote new business ideas.
Corporate culture is the key to business success.
We know that 96% of business leaders believe in this value. For this reason, our company is committed to developing the skills of employees, evaluating performance with a structured approach and promoting activities to engage employees.
What happens inside the companies?
In the Best Managed Companies (BMC), governance is efficient and internal financial reporting is well constructed.
The sharing of decisions takes place mainly through formal meetings (86%). Regarding performance, the main challenges in the future include rising raw material costs (59%) and the management of talent (49%).
Although only 52% of BMC are inclined to risk, managing the risk is a priority with 97%, which requires a strong balance sheet and the establishment of stable relationships with stakeholders.
81% focus on effective financial management.
It is also a matter of responsibility.
In the business world, sustainability is fundamental: 98% of companies recognise its value. At Essetre, we too believe in this mission.
We also value inclusion and diversity, as do 70% of BMC.
Social responsibility is also fundamental for 56% of BMC.
51% of the winning companies are committed to making their social and environmental impacts clear. 49% draw up a sustainability report.
Opening up to the world: internationalisation and supply chains.
Most Best Managed Companies operate mainly in Italy and some extend their market into Europe. International expansion varies, but many try to localise operations, develop sales and search for new talent abroad.
Collaboration with foreign suppliers or strategic agreements is less common, but some companies prefer direct export or direct investment.
Supply chains, particularly in the agri-food, energy, industrial or technology industries, offer advantages such as a better reputation, increased competitiveness and accelerated technology transfer.