Schmersal named ‘Best Managed Company’ again
Wuppertal, 24 May 2024. Having been named the very first winner of the ‘Best Managed Companies Award’ in 2023, the Schmersal Group has now become the honoured recipient of the award for a second year running. The award is presented by consulting and auditing firm Deloitte Private, the Frankfurter Allgemeine Zeitung and BDI (German Federal Association of German Industry) and is given to small and medium-sized enterprises that demonstrate exceptional management in four different management areas: strategy, productivity and innovation, culture and commitment and finance and governance.
Philip Schmersal, Managing Partner: ‘Winning this award twice in a row makes us, the entire management team, extremely proud. We also take part in the competition to gain a professional, external perspective on our management processes. When the result is an award like this, it only confirms the work we have done, especially as we take great care in planning and developing our management processes. This applies to the day-to-day management of our operations, as well as to the development and ongoing adaptation of our strategic direction.’
Within this, the Schmersal Group follows a clear concept: ‘We take a systematic approach to all management decisions, considering a range of factors and drawing on external expertise, such as our Advisory Board,’ explains Philip Schmersal. ‘In addition, every decision we make reflects our corporate values. At the same time, we have always paid attention to the highest level of agility, something that is typical of a medium-sized family business like ours. In such volatile times as these, this has particular benefits as we can quickly make well-founded decisions and implement them promptly.’
Amongst the factors that impressed the jury was Corporate Governance: ‘The Schmersal Group is a shining example of a Best Managed Company, which impresses with a powerful mixture of foresight, productivity, innovative spirit and strong, values-oriented management. What’s more, the company also has the remarkable ability to reconcile appealing work with economic growth. It’s an example of how companies in our region can make such a huge difference,’ explains Dr Christine Wolter, Partner and Lead at Deloitte Private.
Sustainability and long-term thinking (also quite typical of a family business in its third generation of management) are important to both Schmersal and the jury, as Markus Seiz, Director at Deloitte Private and Head of the Best Management Companies Programme, explains: ‘Schmersal and the other companies we have honoured are the cornerstone of our economy. They are “makers”, innovation leaders, who are committed to sustainable enterprise. These businesses look ahead to the future and not just from one quarter to the next. That’s how they earn the honour of being called a Best Managed Company.’
