Household's Training Initiatives Rank Among Top 100 Nationwide
PROSPECT HEIGHTS, Ill.- April 1, 2003 - Training magazine has honored Household International, the $110 billion (managed assets) consumer lender, on its annual Training Top 100 ranking of the top companies nationwide focused on the training and development of its employees. The honor is awarded to a select group of companies that each proved their commitment to providing the most advanced programming for educating, developing and training employees. This year marks the second consecutive year that Household has appeared on the ranking.
"Household is honored to be included yet again on Training magazine's Training Top 100," said Anne McIntosh, vice president of training, development and employee communications. "Household recognizes that training and development is a valuable asset that adds to our success as a company, and is continually developing programs that correspond to the needs of our employees and exceed their expectations."
The publication's annual listing ranks companies on both quantitative and qualitative criteria. Included in the quantitative criteria are: tuition reimbursement plan, total training budget, percentage of payroll (allocated to training), recipients, training hours, evaluation and content. The qualitative criteria includes: how well training is strategically linked to business goals, training's contribution to real business metrics, flexibility, personal development, special methods and culture.
"Household International does an incredible job of tying workforce development initiatives to strategic business objectives, including turnover and retention, quality, customer service, revenue and product development among others," said Tammy Galvin, executive editor of Training magazine. "Through its ongoing development opportunities, Household has built an extremely loyal employee base - in fact, nearly 44 percent of new hires are referred by existing employees."
Household provides a variety of training opportunities designed to benefit all employees, including internal and external seminars, computer-based training, and Web-based training. Specific initiatives and programming include, but are not limited to, the Accelerated Management Program (AMP) and Striving to Excel Program (STEP) which are specific business unit rotational programs that identify high potential entry- and mid-level employees and provide them with functional rotations; Leadership Curriculum, which involves a culmination of required and "peak performance" courses, which support Household's success factors; and the General Management Training Program (GMTP) designed to ensure that rising stars have the knowledge and experience they need to become senior-level leaders.
Specifically, GMTP is designed to train high-caliber employees on all aspects of Household's businesses working with a variety of managers and employees. "Having been in the military, Household's GMTP was an ideal choice for me, as it offered an opportunity to utilize my leadership skills," said Jim Bland, marketing manager, credit card services - emerging markets, and recent GMTP graduate. "In comparison to other Fortune 500 companies, Household's program offers an unparalleled opportunity to work with senior executives and contribute to significant projects."
Household employs more than 230 training professionals nationwide, averaging 136 employees to every trainer. Moreover, employees each received an average of 49 hours of training in 2002. Household trainers strategically link the company's corporate strategy with all aspects of training and development curriculum. Specifically, Household's Leadership Curriculum is designed to link directly to developing skills in each of the company's core values.
Training opportunities are just one feature of Household's Complete Reward - a competitive package of benefits, pay and incentive plans, employee services and discounts, and philanthropic programs. In addition to the Training Top 100, Household is recognized as an "employer of choice" by Working Mother, Computerworld, Money, Black Collegian, and DiversityInc.com.
Household's businesses are leading providers of consumer loan, credit card, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household's largest business, founded in 1878, operates under the two oldest and most widely recognized names in consumer finance - HFC and Beneficial. Household is also one of the nation's largest issuers of private-label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit the company's Web site at http://www.household.com.