Fortune magazine has released the 25th edition of its World’s Most Admired Companies list. Included in the top 10 overall ranking are Amazon, at No. 2, and Costco Wholesale Corp., at No. 7.
The 2023 World’s Most Admired Companies list is determined based on ratings calculated from 3,760 corporate executives, directors and analysts within 52 industries. Survey respondents rate companies in their industry on nine criteria, from investment value and quality of management and products, to social responsibility and the ability to attract talent.
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This marks Amazon’s seventh year in a row nabbing the overall No. 2 spot. There were plenty of initiatives that the company incorporated last year to help secure the high ranking. For example, it launched Amazon Access, making it easier for government-assistance customers to find information on discounted Prime memberships. Amazon also supported relief efforts in Ukraine and, closer to home, it delivered essential supplies and support to affected communities in Puerto Rico and Florida in the aftermath of Hurricane Fiona and Hurricane Ian.
For Amazon workers, the Amazon Benefits team launched six new mental health benefits and resources for employees and their families, including free counseling sessions, updated trainings, and new virtual care for children and teens. The Career Choice program also hit a milestone, with more than 110,000 participants joining in 2022 to learn new skills and earn certificates and degrees to take the next steps in their careers. The company also increased wages for its U.S. operations employees.
Meanwhile, Costco rose above its industry’s supply chain woes to notch its best-ever ranking, at number 7 overall. Helping to achieve this high ranking was the retailer’s major progress in support of its four sustainability pillars. These pillars are taking care of its employees, supporting the communities where it operates, operating efficiently in an environmentally responsible manner and strategically sourcing merchandise in a sustainable manner.
Also included on Fortune’s list is Publix Super Markets, at No. 44.
“Since 1930, we’ve remained true to the philosophies and principles set forth by our founder, George Jenkins,” said Publix Director of Communications Maria Brous. “Our associates go above and beyond to take care of our customers and communities every day. We’re honored to be recognized for these efforts.”
It was also the grocer’s commitment to taking care of its associates that garnered recognition from Fortune. From company ownership to educational and training support, Publix believes that investing in associates helps attract and retain top talent. Valuing a promote-from-within culture, in 2022 Publix promoted more than 44,000 associates companywide.
Other retailers making the World’s Most Admired Companies list include industry giant Walmart Inc. and Target Corp.
For more information about Fortune’s 2023 list, click here.
Seattle-based Amazon is No. 2 on The PG 100, Progressive Grocer’s 2022 list of the top food and consumables retailers in North America. Issaquah, Wash.-based Costco is No. 3 on The PG 100, while Lakeland, Fla.-based Publix is No. 12; Bentonville, Ark.-based Walmart U.S. is No. 1; and Minneapolis-based Target Corp. is No. 6.