AUBURN HILLS, Mich.—Fortune magazine has named Continental A.G. and Michelin to its list of World's Most Admired Companies for 2018.
For both companies, the honor—which recognizes excellence in key areas such as quality of products and management, social responsibility, people management and innovation—is their third in a row.
The 680 companies honored were selected from a pool of the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies from Fortune's Global 500 database that have revenues of $10 billion or more.
The list was then winnowed to the highest-revenue companies within each industry for a total of 680 enterprises in 52 industries from 30 countries.
To determine the most admired, Fortune collaborated with Korn/Ferry International to determine corporate reputation.
To determine the best-regarded companies, Korn Ferry asked executives, directors, and analysts to rate enterprises within their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company's score had to rank in the top half of its industry peer group to be listed.
"Being named one of Fortune's 'Most Admired Companies' year after year underscores the company's commitment to making Continental an employer of choice in this continuously evolving working landscape," Continental North America CEO Samir Salman said.
"We know that to deliver the most innovative solutions to our customers, we have to employ the best people. With intentional and consistent input solicited from our more than 240,000 employees around the world, Continental continues to expand upon its many work-life initiatives that support and nurture the needs of our diverse team."
In particular, Continental pointed to its Global Future Work Flexibility initiative, which offers employees benefits like telecommute days, flexible schedules and sabbaticals, along with maternity leave program and paid paternity leave.
The company also offers employees opportunities to grow their skills through company-sponsored training opportunities, a tuition reimbursement program and opportunities to work across continents, divisions and teams, along with a paid volunteering program in the U.S., giving eligible employees 16 paid hours each year to volunteer during "traditional" working hours.
Continental also pointed out it was named one of America's 2019 Best Employers for Diversity, one of America's Best Employers in 2018 and one of The Best Employers for Women by Forbes magazine.