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HR Magazine, January 2005 - Blind Investment

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HR Magazine, January 2005
January 2005
Vol. 50, No. 1

Blind Investment

Legg Mason

By Robert J. Grossman

Feature Article: Blind Investment

January 2005 HR Magazine

At Legg Mason, the Baltimore-based investment firm, the 5,200 employees share a collegial culture built around teamwork and client service. HR mirrors the culture, offering a wide array of training and self-development opportunities on a voluntary basis.

Were good relationship builders, partners and facilitators, says Joseph Timmins, SPHR, senior vice president of HR.

In a recent survey, 97 percent of Legg Masons workforce said they were satisfied or highly satisfied with the firms services and programs. Even those who leave sometimes have a change of heart. We have a growing boomerang club, Timmins says. People discover the grass wasnt greener elsewhere after all.

Timmins says HR deserves some credit for Legg Masons excellent stock market performance. If you have good HR practices and stable management, their value will be reflected in the P/E [price-to-earnings] ratio. If youre looking at organizations over time, if they dont treat their human capital well, they wont be able to sustain high performance levels.

Legg Mason appears on Forbes list of best-managed companies, which is based on an assessment of a companys management and financial performance.

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