First Car Rental Achieves Top500 Company Status
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First Car Rental Again Achieves Top 500 Company Status

First Car Rental is proud to announce that it has achieved TOP 500 Best Managed Companies status for the eighth year.

January 2017 - First Car Rental has again been recognised as one of South Africa's Top 500 Best Managed Companies in the Car Hire sector.

How the Winners are Decided

The Top500 research methodology has been designed in conjunction with the University of Cape Town's Development Policy Research Unit.

Top500 aims to identify the top five companies in each of the 100 business sectors monitored by Topco's research department.

To be classed as one of South Africa's best companies, TopCo expects companies to excel in three key spheres, namely financial performance, empowerment, and policy and accreditation.

The criteria within financial performance speak to the ideas of top companies being large, growing and productive institutions that are leaders by virtue of their size and dynamism.

Financial performance is measured by four indicators: turnover, rate of turnover growth, rand turnover growth, and turnover per employee.

Size is both an indicator and an outcome of whether or not a company is a top company.

From the perspective of financial performance, turnover is used to proxy company size and this indicator has large weight within the measure.

The dynamism of top companies is reflected in their ability to expand and grow, and so they include two indicators - one relative, one absolute - of growth in the scoresheet

The former indicator is the rate of turnover growth over the year - since top companies are faster growing; while the latter is the rand value of the turnover growth.

Absolute turnover growth in the business sector has an important role to play in promoting equity and social transformation.

Top companies are committed to fulfilling this role, and this commitment is measured using six criteria.

Two of these criteria focus on companies' commitment to the goal of transformation as demonstrated in their employment profiles, namely the shares of employment accounted for by female employees and by black employees respectively.

Top companies, however, go further than just employment and are committed to ensuring greater diversity at the level of management and control.

The proportions of black and female executive and nonexecutive directors are evaluated to complete the scoring for this sphere.

Top companies are involved within communities and are committed to quality. This sphere of policy and accreditation accounts for the remainder of the total score.

In gauging companies' engagement and involvement within communities, they measure their total spend on corporate social investment activities relative to net profit.

Companies are also judged on the existence of written policies regarding employment equity, skills development, health and safety, HIV/Aids, and the environment.

The final criterion within this sphere, commitment to quality, is proxied by the number of SABS approved accreditations held by companies.

From 2017, Topco's research department will begin providing tailored benchmarking reports for interested participating companies based on the data collected for the Top500 rankings.

Source: Morne Oosthuizen, Deputy Director - Development Policy Research Unit University of Cape Town.


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