The World’s Best Employers 2019: Alphabet Takes Top Spot, Followed By Microsoft And Red Hat

For the third year in a row, Alphabet is ranked first on Forbes’ Global 2000 list of the World’s Best Employers. The tech juggernaut and Google parent company is followed by Microsoft, which is ranked second, and open-source software producer Red Hat, ranked third. Apple and SAP round out the top five.

To create the 500-company ranking, Statista analyzed 1.4 million recommendations sourced from a global poll and several regional surveys. Among other questions, respondents around the world were asked to rate their own employer and the likelihood that they would recommend this employer to a friend or family member. They also rated other employers they admired.

Though this methodology put Alphabet at the top of the list, it doesn’t account for what in many ways was a tumultuous year for the company. Google employees made headlines last November after they organized a series of high-profile walkouts in response to the company’s handing of sexual harassment claims. Thousands of employees participated. In a letter published by New York magazine, the organizers of the walkouts said they demanded “an end to the sexual harassment, discrimination, and the systemic racism that fuel [Google’s] destructive culture.” Google vowed to improve its policies in the wake of the massive protests.

Today In: Money

Google’s treatment of its temporary and contract workers has also drawn scrutiny this year. In April, the company announced that it will require that these types of workers receive a $15 minimum hourly wage and comprehensive healthcare benefits.

As of October 18, 2019, Alphabet had a market cap of roughly $870 billion. More than 100,000 employees work under Alphabet’s umbrella, and according to a recent SEC filing, the majority of the company’s new hires last quarter were engineers and product managers. The company reported revenues of $38.9 billion last quarter—an increase of 19% versus the same period last year.

Open-source and cloud software provider Red Hat, a newcomer to the list, was acquired by IBM this summer for a whopping $34 billion. After the deal closed, IBM chief vinancial officer James Kavanaugh said that the company had hired 1,000 new employees to cope with growing demand.

While the top spots on this year’s Best Employers list are dominated by tech companies (including Cisco at No. 8, Amazon at No. 10 and IBM at No. 11), the finance and banking industry was the best-represented on the list as a whole. Fifty-two regional banks made the top 500, including Switzerland’s Banque Cantonale Vaudoise at No. 30 and India’s HDFC Bank at No. 119. Thirty-two investment services companies also made the cut, including Berkshire Hathaway at No. 26 and the Japan Exchange Group at No. 38.

Just like last year, companies from the United States accounted for nearly two fifths of the list, including seven of the top ten. Seventy-one companies from China and Hong Kong were featured on the list, though just one company from that category broke the top ten (China’s Contemporary Amperex Technology, at No. 7). Employers from India accounted for the third-largest category, with 33 companies represented, including construction services firm Larsen & Toubro (No. 29).

This list is based on the 2019 Forbes Global 2000 list, which tracks the world’s largest public companies. Last year, companies on the list accounted for more than $40 trillion in annual revenue and upwards of $186 trillion in global assets.

Follow me on Twitter. Send me a secure tip.

I’m an assistant editor on Forbes’ Money team, covering markets, fintech, and blockchain. I recently completed my master’s degree in business and economic reporting at New York University. Before becoming a journalist, I worked as a paralegal specializing in corporate compliance and the Foreign Corrupt Practices Act.

Source: The World’s Best Employers 2019: Alphabet Takes Top Spot, Followed By Microsoft And Red Hat

94.3K subscribers
This video ranks the top 10 most valuable publicly traded companies in the world from 1997 to 2019 based off of market capitalization. Market capitalization is calculated from the share price of a stock multiplied by the number of outstanding shares. Figures are converted into USD (using rate from selected day) to allow for comparison. If you have any feedback on the video or have any ideas of what you would like to see ranked in future videos then let me know in the comments! Also, you can subscribe here:) https://www.youtube.com/channel/UCFRo… Facebook: https://www.facebook.com/Rankingthewo… Instagram: https://www.instagram.com/rankingthew… Twitter: https://twitter.com/RankingTheWorld Datasource: Financial Times Music: Curse of the Scarab Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/b…

 

The Driving Force of Free Markets Is Empathy, Not Greed

Both capitalists and anti-capitalists frequently accuse capitalism of being a system driven by selfishness and greed. Capitalism’s defenders sometimes say: “By nature, man is selfish, which is why socialism will never work. Capitalism better reflects the fundamental characteristics of human nature.” Anti-capitalists claim that capitalism promotes the worst characteristics in man, especially greed.

But are greed and unbridled selfishness really the driving forces of capitalism? Human self-interest is one—not the only—driving force of all human action. But this has nothing to do with a particular economic system. Rather, it is an anthropological constant. In capitalism, however, this self-interest is curbed by the fact that only the entrepreneur who prioritizes other people’s needs can be successful.

There is overwhelming evidence to suggest that empathy, rather than greed, is the true driving force of capitalism. Empathy is the ability to recognize and understand another person’s feelings and motives, and this is the most important characteristic of successful entrepreneurs.

Take Steve Jobs as an example. He came up with the iPhone and other products because he understood modern consumers’ needs and desires better than anyone else. Under capitalism, consumers can (and do) punish companies that behave selfishly and lose sight of the needs of their customers.

The same applies to Mark Zuckerberg, today one of the world’s richest people. He created Facebook because he knew better than other entrepreneurs what people wanted. Like all successful entrepreneurs, it was consumers who made Steve Jobs and Mark Zuckerberg so rich.For many years, the Albrecht brothers were the richest people in Germany. They earned their fortunes from the food discounter Aldi, which was founded on the principle of offering good quality products at very reasonable prices. This was the same recipe for success followed by Sam Walton, the founder of Walmart, who was consistently one of the richest people in the United States.

Consumers’ purchasing decisions confirm that Jobs, Zuckerberg, the Albrecht brothers, and Sam Walton had correctly understood their customers’ desires, needs, and emotions.

Of course, under the capitalist system, there are also examples of companies that have acted selfishly and lost sight of the wants and needs of consumers.

One example is Deutsche Bank, which has faced thousands of lawsuits. Such companies are punished under capitalism, not only by the law but far more so by the market. Deutsche Bank lost its position as one of the world’s leading banks because it put the interests of its investment bankers above those of its customers and shareholders.

Even companies that appear omnipotent today, such as Google or Facebook, will not retain their power forever.

A company’s most important asset is its image, and companies that behave like Deutsche Bank end up incurring massive damage to their images and reputations; their customers lose confidence and flock to their competitors.

In socialist systems, on the other hand, consumers are powerless and at the mercy of state-owned companies. If a state enterprise acts with no regard for the needs of consumers, they have no alternative under socialism because there is no competition.

Under capitalism, consumers can (and do) punish companies that behave selfishly and lose sight of the needs of their customers. Every day, customers vote on the company with their wallets—by buying its products or not.

Monopolies under capitalism are a temporary phenomenon. Even companies that appear omnipotent will eventually be ousted by new competitors as soon as they overreach their power and lose sight of their customers’ needs.

Ever since capitalism has existed, anti-capitalists have criticized the system’s inherent tendency to create monopolies. Lenin wrote over 100 years ago that imperialism and monopoly capitalism are the last stages of capitalism. But the monopolies he criticized at the time no longer exist. Even companies that appear omnipotent today, such as Google or Facebook, will not retain their power forever. Other companies and ambitious young entrepreneurs will seize the opportunity as soon as Google or Facebook starts to act too selfishly.

What is strange is that socialists who criticize capitalism for its tendency to form monopolies are in favor of state-owned companies. After all, the state is the most powerful monopolist of all, with the ability to brutally trample on the needs and wishes of its citizens through its means of coercion and because there are no alternatives for the customer.

The fact that people and companies pursue their own interests is the same in every society. This is not a specific feature of capitalism.

Under capitalism, though, only those entrepreneurs and companies who prioritize their customers’ interests rather than their own self-interest will achieve success in the long-term. Companies that fail to understand and respect what consumers want will lose market share and may even disappear entirely as they are driven out by other companies that better meet their customers’ needs.

Empathy, the ability to recognize the desires and needs of others, is the true basis of capitalism—not unbridled greed and selfishness.

Source: The Driving Force of Free Markets Is Empathy, Not Greed

20.9M subscribers
Workplace diversity creates a business better suited to meet its goals. Through Eudaimonia and acceptance of differences, empathy is a path to business success. Matthew Gonnering is the CEO of Widen, a marketing technology company founded in 1948. Blessed to work with highly intelligent, playful, self-starting Wideneers, Matthew has reshaped his role into “Chief Eudaimonia Officer.” His mission is to create happiness, health and prosperity for his colleagues, customers and community. Matthew joined Widen in 2000 and became CEO in 2009. His team solves marketing and creative problems with digital asset management (DAM) software. Under Matthew’s leadership, Widen has become a WorldBlu Freedom-Centered Workplace™ and a Madison Magazine Best Place to Work. His ongoing commitment to faith, family, education, and nonprofit work shape his desire to ground organizational culture in humanity. Matthew and his beautiful wife Sarah have five energetic children and reside in the Madison area. He lives a eudaimonious life and encourages others to do the same. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx
%d bloggers like this: