Hay Group
Encyclopedia
Hay Group or The Hay Group is a global human resources
management consulting firm headquartered in Philadelphia, with offices worldwide. It was founded in 1943 by Edward N. Hay
. In 1984 the firm was purchased by Saatchi & Saatchi
, but returned to private ownership in 1990 after a management buyout
.
. Edward N. Hay purchased Personnel Journal, which provided a platform for his views on work, people, and the work place. Hay incorporated as E. N. Hay and Associates, Inc in 1946. In 1958, Edward N. Hay died at age 67 and E. N. Hay Associates became a partnership with co-managing partners (Milton Rock and Dale Purves). In 1966, Dale Purves died, and Milton Rock became Managing Partner.
In 1984, Saatchi & Saatchi Company, PLC, acquired the business of Hay Group, and Milton Rock was named Chairman of Saatchi Consulting. Hay Group combined with Saatchi-owned McBer & Company, a human resources planning and redevelopment firm. In 1985, Milton Rock retired, and Charles Fiero became Hay Group CEO. Robert Rock succeeded Fiero as CEO in 1986, and Chris Matthews was appointed as CEO in 1987.
In 1990, internal Hay Group management bought Hay Group.
The first office outside of Philadelphia was established in 1960 in Toronto, Canada, the first overseas consulting operation was established in London in 1963, and the second U.S. office opened in San Francisco in 1965. By 2006, Hay Group had expanded to 88 offices in 47 countries.
s were invented by Dale Purves in 1951. Hay started Compensation Survey Comparisons in 1954. In 1997, Hay Group conducted the first annual survey of "The World's Most Admired Companies" for FORTUNE
Magazine. In 1999, Using Hay Group research, Daniel Goleman
published Working With Emotional Intelligence In 2005, Hay Group conducted the study for Chief Executive magazine's "Best Companies for Leaders."
Human resources
Human resources is a term used to describe the individuals who make up the workforce of an organization, although it is also applied in labor economics to, for example, business sectors or even whole nations...
management consulting firm headquartered in Philadelphia, with offices worldwide. It was founded in 1943 by Edward N. Hay
Edward N. Hay
In 1943, Edward N. Hay began a venture designed to help organizations create innovative business solutions by focusing on people and jobs. He saw that the people side of management was neglected and under-developed....
. In 1984 the firm was purchased by Saatchi & Saatchi
Saatchi & Saatchi
Saatchi & Saatchi is a global advertising agency network with 140 offices in 80 countries and over 6,500 staff. It was founded in London in 1970 but now headquartered in New York. The parent company of the agency group was known as Saatchi & Saatchi PLC from 1976 to 1994, was listed on the London...
, but returned to private ownership in 1990 after a management buyout
Management buyout
A management buyout is a form of acquisition where a company's existing managers acquire a large part or all of the company.- Overview :Management buyouts are similar in all major legal aspects to any other acquisition of a company...
.
Company history
In 1943, Edward N. Hay and Associates, Management Consultants, was established as a sole proprietorship in space rented from First Pennsylvania Bank. Its first major compensation project was with General FoodsGeneral Foods
General Foods Corporation was a company whose direct predecessor was established in the USA by Charles William Post as the Postum Cereal Company in 1895. The name General Foods was adopted in 1929, after several corporate acquisitions...
. Edward N. Hay purchased Personnel Journal, which provided a platform for his views on work, people, and the work place. Hay incorporated as E. N. Hay and Associates, Inc in 1946. In 1958, Edward N. Hay died at age 67 and E. N. Hay Associates became a partnership with co-managing partners (Milton Rock and Dale Purves). In 1966, Dale Purves died, and Milton Rock became Managing Partner.
In 1984, Saatchi & Saatchi Company, PLC, acquired the business of Hay Group, and Milton Rock was named Chairman of Saatchi Consulting. Hay Group combined with Saatchi-owned McBer & Company, a human resources planning and redevelopment firm. In 1985, Milton Rock retired, and Charles Fiero became Hay Group CEO. Robert Rock succeeded Fiero as CEO in 1986, and Chris Matthews was appointed as CEO in 1987.
In 1990, internal Hay Group management bought Hay Group.
The first office outside of Philadelphia was established in 1960 in Toronto, Canada, the first overseas consulting operation was established in London in 1963, and the second U.S. office opened in San Francisco in 1965. By 2006, Hay Group had expanded to 88 offices in 47 countries.
Publications
Hay Group published "Men and Management," a one-page thought piece for executives on current issues. Hay Guide ChartHay Guide Chart
Hay Job Evaluation is a methodology used by many corporates and organisations to map out their job roles in the context of the organisational structure....
s were invented by Dale Purves in 1951. Hay started Compensation Survey Comparisons in 1954. In 1997, Hay Group conducted the first annual survey of "The World's Most Admired Companies" for FORTUNE
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
Magazine. In 1999, Using Hay Group research, Daniel Goleman
Daniel Goleman
Daniel Jay Goleman is an author, psychologist, and science journalist. For twelve years, he wrote for The New York Times, specializing in psychology and brain sciences. He is the author of more than 10 books on psychology, education, science, and leadership.-Life:Goleman was born in Stockton,...
published Working With Emotional Intelligence In 2005, Hay Group conducted the study for Chief Executive magazine's "Best Companies for Leaders."