This year’s annual list of best companies to work for features Hilton in the top spot. Ultimate Software, Wegmans Food Markets, Workday and Kimpton Hotels & Restaurants round out the top five.
Over the 23 years Fortune has been publishing this list with their partners at Great Place to Work, they have found three things to be true. Inclusion has become the gold standard for employee-centric companies. The bar rises every year. And no, workplace happiness is not a myth. (Plus: They have got 91,425 jobs open now!)
Explore the 2020 list and learn more about the companies at the Fortune website.
The World Bank has recently published “The Human Capital Index 2020 Update: Human Capital in the Time of COVID-19”.
This report presents an update to the Human Capital Index (HCI), using the most recent health and education data available as of 2020. It documents new evidence on trends over time in the HCI, examples of success, and new analytical work on utilization of human capital, as well as a primer on the COVID-19 (coronavirus) pandemic and its potential impact on human capital. COVID-19 is taking a tremendous toll on lives and economies. Disruptions in supply chains and the lockdowns that have been enacted to stave off contagion are putting hardship on families’ incomes. Coupled with disruptions in basic health services and school closures, these repercussions of COVID shocks are likely to have a significant impact on the human capital accumulation process in the short and in the long run. HCI 2020 data have been collected before the onset of COVID-19 and can act as a baseline to track the effects of COVID-19 on health and education outcomes, as policymakers consider how best to protect human capital from the shock of the pandemic.
The FORTUNE Global 500 list ranks the world’s largest corporations by revenue. This year, Walmart claimed the top spot for the seventh consecutive year, and for the 15th time since 1995 with a total revenue of $523,964 million.
Sinopec is second with a total revenue of $407,009 million. State Grid, in third position, China National Petroleum (No. 4) and Royal Dutch Shell (No. 5) – rounded out the top five.
For the first time ever, Mainland China (including Hong Kong) has the most companies on the list, up five from last year with 124. Adding Taiwan, the total for Greater China is 133. The U.S. held steady with 121, and Japan gained one for a total of 53. The companies on the 2020 list are based in 225 cities and 32 countries around the world. This year there are 14 woman CEOs of FORTUNE Global 500 companies.
FORTUNE Global 500 companies generated revenues totaling more than one-third of the world’s GDP. They generated $33.3 trillion in revenues (up 2%), $2.06 trillion in profits (down 4%) and employ 69.9 million people worldwide. Saudi Aramco (No. 6) netted $88 billion in profits, and is the FORTUNE Global 500’s most profitable company for the second consecutive year.
Platform work – the matching of supply and demand for paid labour through an online platform – is still small in scale but is expected to grow. Accordingly, it is important to anticipate the opportunities and risks related to this business model and employment form. This report explores potential scenarios for two selected types of platform work by 2030, drawing on Eurofound’s ‘Future scenarios of platform work’ project. It assesses the expected implications for the economy, labour market and society if these potential futures were realised. On this basis, policy pointers show what could be done to facilitate desirable and avoid undesirable futures. These policy pointers consider how to capitalise on the opportunities inherent in on-location platform work, the need for regulatory clarity and enforcement, issues around worker representation, and the embeddedness of platform work in the digital age.
The International Telecommunication Union (ITU) has recently published “Connecting Humanity – Assessing investment needs of connecting humanity to the Internet by 2030“, a comprehensive new study that estimates the investment needed to achieve universal, affordable broadband connectivity for all humanity by the end of this decade.
Nearly half the global population aged 10 years and over – equating to some three billion people – has never used the Internet. Many of the unconnected live in rural and remote areas, where connectivity remains a challenge. A disproportionate number are women, particularly in Africa and South Asia, where the digital gender divide is particularly marked. And of course most are poor, lack basic literacy and, with only limited digital exposure, see little value in getting online.
With just ten years remaining to meet the SDGs, this timely new report asks: What will it take to connect the world? How much investment is needed, where are the global ‘pain points’, and how can we mobilize the unprecedented levels of financing needed to extend networks to unserved communities?
The ITU study is freely accessible in pdf format on the ITU’s website.
The World Economic Forum has just published: “Harnessing Technology for the Global Goals: A Framework for Corporate Action”.
Progress to reach the UN’s Global Goals by 2030 was already off track as we entered the 2020s, only worsened by the COVID-19 pandemic. This report is an initial step towards clarifying how corporate leadership can drive and harness the uptake of advanced technologies to accelerate action on the Global Goals. It outlines a framework for corporate leadership to ask the key questions and support the critical conversations that will spur technological advancement to effectively deliver meaningful social and environmental change. We hope these insights and guiding questions will spark a sense of urgency both within and across companies, to drive the conversation forward with determination and vigour. Turning these leadership conversations into effective actions is the next crucial step in ensuring that emerging technologies are fully harnessed to enable the Global Goals to become a reality by 2030.
With the COVID-19 pandemic continuing to threaten jobs, businesses and the health and well-being of millions amid exceptional uncertainty, building confidence will be crucial to ensure that economies recover and adapt, according to the OECD’s latest Interim Economic Outlook.
After an unprecedented collapse in the first half of the year, economic output recovered swiftly following the easing of containment measures and the initial re-opening of businesses, but the pace of recovery has lost some momentum more recently. New restrictions being imposed in some countries to tackle the resurgence of the virus are likely to have slowed growth, the report says.
Uncertainty remains high and the strength of the recovery varies markedly between countries and between business sectors. Prospects for an inclusive, resilient and sustainable economic growth will depend on a range of factors including the likelihood of new outbreaks of the virus, how well individuals observe health measures and restrictions, consumer and business confidence, and the extent to which government support to maintain jobs and help businesses succeeds in boosting demand.
The Interim Economic Outlook projects global GDP to fall by 4½ per cent this year, before growing by 5% in 2021. The forecasts are less negative than those in OECD’s June Economic Outlook, due primarily to better than expected outcomes for China and the United States in the first half of this year and a response by governments on a massive scale. However, output in many countries at the end of 2021 will still be below the levels at the end of 2019, and well below what was projected prior to the pandemic.
The Interim Economic Outlook is freely accessible in pdf format on the OECD’s website.
Policymakers need to create cohesive, holistic and conducive frameworks in order for entrepreneurs to flourish in a post COVID-19 world. This is among the key takeaways from the new Global Entrepreneurship Monitor (GEM) report entitled “Diagnosing COVID-19 Impacts on Entrepreneurship – Exploring Policy Remedies for Recovery.” The report is sponsored by Shopify, a leading global commerce company that powers over one million businesses in more than 175 countries. The report features economy snapshots from 54 GEM National Teams around the world and additional deep perspectives from some of GEM’s most experienced researchers on entrepreneurship.
Download the GEM report “Diagnosing COVID-19 Impacts on Entrepreneurship” here.
MarketLine has published the report “Global Non-Residential Construction”, which provides data on the global sector’s size, value and volume between 2015 and 2019, as well as forecasts to 2024.
The report includes size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic forecasts.
The profile also contains descriptions of the leading players (in this case: Bechtel Corp; Vinci SA; China State Construction Engineering Corp Ltd; and, Actividades de Construccion y Servicios SA) including key financial metrics and analysis of competitive pressures within the market, making use of the Five Forces analysis.
The fulltext of the report is available on the web to students, professors, research assistants and staff of the IESE community.
The OECD has just published: Beyond Growth – Towards a New Economic Approach.
We are facing a series of converging planetary emergencies linked to the environment, the economy, and our social and political systems, but we will not meet these challenges using the tools of the last century. We need to rethink the role of the economy in improving the well-being of people and the planet. As the world’s leading intergovernmental forum on economic policy, the OECD has a central role to play in creating a new economic narrative. OECD Secretary-General Angel Gurría therefore invited a high-level group of experts to contribute their proposals on what needs to change in economic policy and policymaking. This report summarises their conclusions. The Advisory Group argues that we need to go beyond growth, to stop seeing growth as an end in itself, but rather as a means to achieving societal goals including environmental sustainability, reduced inequality, greater wellbeing and improved resilience. This requires updating the philosophy, tools and methods underpinning the analysis that influences economic decision-making. Drawing on developments across the modern field of economics and political economy, the report argues for a new approach which recognises the rootedness of economic systems and behaviour in the relationship between people, social institutions and the environment.