What Can We Learn From The World’s Best Companies Of 2023?
Internal Comms & Engagement Expert
23 Nov 2023
TIME’s new annual ranking is based on a comprehensive research study conducted by Statista to name the top-performing organizations worldwide across their 3-dimensional formula of revenue growth, employee satisfaction survey results, and detailed environmental, social, and corporate governance data.
Despite this year’s seemingly relentless layoffs across the global tech sector, topping the 2023 list was Microsoft, followed by Apple, Alphabet (Google’s parent company), Meta Platforms (formerly Facebook), and Accenture.
So what do these companies have in common? What’s the secret sauce that helps them all excel in revenue growth, employee satisfaction and ESG?
What do the World’s Best Companies have in common?
Let’s explore four key things that these companies have in common which all organizations can learn from:
- They embrace change and innovation
- They prioritize employee engagement
- They harness the power of new technologies
- They invest in employee growth
1. Embrace change and innovation
When Satya Nadella took the reins as the new CEO of Microsoft in 2014, he announced it was time to transform the company by hitting refresh and “rediscovering the soul of Microsoft, our reason for being”. The company had already realized Bill Gates’ goal of “having a PC on every desk in every home, running Microsoft software”, so needed to embrace innovation to jump into emerging opportunities.
To be successful, organizations need to whole-heartedly embrace change and innovation.
They must be forward-thinking, and unafraid to let go of the things that are no longer working. Apple is renowned for cultivating an innovative working environment. Its organizational structure centers on functional expertise, grouping employees with common expertise in a certain field.
Rather than directing employees, Meta has a bottom-up approach to innovation – encouraging each team to identify opportunities and work together towards a solution. And Google’s transformation story is often referred to as the secret of Alphabet’s success, showing the organization can adapt and evolve with the times.
2. Prioritize employee engagement
Another common trait of the World’s Best Companies of 2023 is their commitment to employee engagement. Happy and engaged teams achieve better business results.
Dublin-based global professional services firm, Accenture, prides itself as one of the top thought leaders in the employee experience space. 80% of Accenture’s employees say it’s a great place to work, and 86% feel proud to work there.
Apple works hard to build employee engagement by cultivating a culture of collaboration, promoting a comprehensive employee wellness program, and offering world-class perks and benefits. And Microsoft has long prioritized employee engagement through effective internal communication and proactive team-building efforts.
Aligning employees with the organization’s purpose, strategy and values is an important step on the path toward an engaged and productive workforce. These five tips will help you to increase employee engagement by effectively communicating purpose, strategy, and values.
3. Harness the power of new technology
Seeing as four of the five top companies are tech giants, it’ll come as no surprise that they are all willing to embrace new technology. And as the pioneers of the world’s leading employee experience platform, we’re also big fans of embracing new tech!
There’s no denying the fact that the organizations at the top of their game are the ones embracing and harnessing the power of new technology.
A year after Kevin Scott joined Microsoft as their new Chief Technology Officer in 2017, he partnered with OpenAI and pushed hard for new technology inside Microsoft.
Sundar Pichai, CEO of Alphabet, led the development of Google Chrome and oversaw the launch of other applications such as Google Maps, Gmail, and Google Apps. He is continuing to harness the power of new technology, exploring AI integrations and using tech to tackle climate change.
And the importance of harnessing the power of new technology applies to all organizations, regardless of size or industry.
4. Invest in employee growth
Investing in employee growth and development is an important priority for Microsoft, Apple, Alphabet, Meta, and Accenture. As a key driver of employee engagement, retention, and productivity, it’s an investment that all organizations should make.
Accenture puts ‘learning agility’ at the top of its list of desired characteristics for new employees. CEO Julie Sweet explained that her employees’ ability to learn and adapt is a key factor in Accenture’s success, enabling them to respond quickly to change in the marketplace.
“…it’s part of what makes Accenture such an attractive place to work because people feel like they’re constantly being invested in. In fact, we spend about $1 billion a year, an average of 40 hours per person, on training” – Julie Sweet, CEO of Accenture
But investing in employee growth and development does not necessarily have to cost $1 billion a year. Internal mentoring programs, peer-to-peer training, stretch assignments, and short-term internal internships are all in-expensive ways for organizations to invest in the growth and development of their employees.
Making the list in 2024
Got your eye on a spot on the 2024 World’s Best Companies list? We hear you, and we’re right there with you. We’ve got to dream big, right?
Why not get started by simplifying communication and driving engagement with the world’s leading employee experience platform?