TThis year, Time magazine partnered with Statista, a leading international provider of market and consumer data and rankings, to publish its first World’s Best Companies list. The results of this quantitative study: 750 companies are paving the way for the future. Here’s how the winners are selected:
The research project “World’s Best Companies 2023” is a comprehensive analysis conducted to identify the top performing companies around the world. The study was based on three key dimensions: employee satisfaction, revenue growth, and sustainability (ESG).
The first dimension, employee satisfaction, was assessed using survey data from employees around the world. The study was conducted in 58 countries and collected data from approximately 150,000 participants. The evaluation included direct and indirect company recommendations, as well as employer ratings across aspects such as image, atmosphere, working conditions, pay, and equality by verified employees.
The second aspect, revenue growth, was evaluated using data from Statista’s revenue database, which contains company growth data for the past three years. Companies had to meet certain criteria to be evaluated, including generating revenue of at least US$100 million in 2022 and demonstrating positive revenue growth from 2020 to 2022. Both relative and absolute growth were considered in the evaluation.
The third dimension, sustainability, was assessed based on ESG data from Statista’s ESG database and standardized KPIs from targeted data surveys. Multiple key performance indicators were collected to develop a comprehensive ESG index. Environmental assessments include carbon emissions intensity and reduction rates, as well as Carbon Disclosure Project (CDP) evaluations. In terms of social aspects, the percentage of women on the board of directors and the presence of human rights policies were evaluated. The governance dimension assessed whether a company had a corporate social responsibility (CSR) report that complied with Global Reporting Initiative (GRI) guidelines and compliance or anti-corruption guidelines.
Once the data is collected and evaluated, it is integrated and weighted within a scoring model. The scores for all three factors are added in equal proportions to form a final ranking score of up to 100 points. The companies with the highest scores were recognized by TIME and Statista as World’s Best Companies 2023.
See the complete list here.