Walmart Canada named to Canada's 10 Most Admired Corporate Cultures of 2009

MISSISSAUGA, ON, Nov. 12 /CNW/ - Walmart Canada's corporate culture has been ranked among the 10 most admired corporate cultures in Canada by Waterstone Human Capital Inc., an executive search and human capital consulting firm that has been running the Canada's 10 program since 2005. Walmart Canada is the largest employer and the only grocery and general merchandise retailer on the list.

"At Walmart, we're proud of our unique corporate culture. Sam Walton founded our company on three simple beliefs: respect for the individual, service to our customers, and striving for excellence," said David Cheesewright, President and CEO of Walmart Canada . "These fundamental beliefs are the basis of all of our policies and decisions, and they are the foundation of our success today and into the future."

Walmart Canada provides an inclusive work environment, training and education programs, and career opportunities to help associates feel valued, rewarded and empowered. This has resulted in one of the lowest staff turnover rates in the Canadian retail industry. The company is also committed to developing talent from within-in 2008, almost 10,000 associates were promoted, and 70% of current store managers have been promoted from within Walmart Canada's store network. Associates have also demonstrated their confidence in their company, with over 25,000 of Canadians associates holding Walmart shares.

"This honour belongs to our associates," Cheesewright added. "You cannot mandate a culture, it is something people choose to live because they believe in it. Our culture thrives because our 80,000 Walmart Canada associates live our values every day, with each other and with our customers."

The selection process for the 10 most admired corporate cultures took close to six months, beginning in early spring when Waterstone interviewed over 200 senior Canadian executives about what they most admired in a corporate culture focused on performance. Over 400 organizations were nominated for this honour and 71 finalists were selected. In late October, Waterstone's Board of Directors selected the 10 most admired corporate cultures from the 71 finalists.

Commenting on why Walmart Canada was selected, Marty Parker , the managing director of Waterstone Human Capital, said: "Walmart Canada hires for fit and trains for skill - as an organization, they are completely aligned. Combined with their culture of recognition, an engrained corporate social responsibility strategy and their stellar performance, they are a clear winner for 2009."

About Canada's 10 Most Admired Corporate Cultures

Canada's 10 Most Admired Corporate Cultures is founded and presented by Waterstone Human Capital, a leading professional recruitment, executive search and human capital consulting services firm based in Toronto . Since 2005, the Canada's 10 Most Admired Corporate Cultures program has recognized some of this country's top organizations for having a culture that has helped them enhance performance and sustain a competitive advantage. This popular program begins in the spring of each year with the Canadian Corporate Culture study and culminates in an annual awards gala.

About Walmart Canada

Walmart Canada operates 313 outlets nationwide serving more than one million Canadians each day. With 80,000 associates, the company is the nation's third-largest employer.

For further information: Susan Schutta, Corporate Affairs, Walmart Canada, [phone], ext. 8012; Jennifer Mondoux, Waterstone Human Capital, [phone], ext. 273