Monday, October 12, 2020

Companies with happier employees outperform their peers

Companies with happier employees outperform their peers - Fortune via Yahoo – “Corporate America is changing. Look no further than the Business Roundtable’s redefined statement of purpose for corporations. Instead of putting shareholders’ interest alone first, its members have agreed to prioritize the interest of various stakeholders, such as employees. So how does doubling down on employees affect the bottom line? Pretty well, according to our research. Fortuneteamed up with Thrive GlobalSAP SuccessFactors, and Qualtrics to build the Thrive XM Index*, a ranking of companies with the best employee well being. 

To create the index, we surveyed a sample of more than 20,000 full-time U.S. employees from over 900 companies. We asked them about everything: work-life balance, career advancement, mental health, company policies. From this massive survey, Thrive Global researchers used a scoring algorithm to generate the score for companies. Then they looked at the highest-ranked companies on the index to see if their better employee experiences translated into better financial results. 

Blockchain, the amazing solution for almost nothing The Correspondent

 The top-ranked Thrive XM Index companies—even when factoring in industry—saw their stock gains outperform those of their peers. What’s more, the top 10% of Thrive XM Index companies saw their return on equity climb 27.2% in the second quarter of 2020…”

Troubled ID

The federal government will pour a further $250 million into its digital identity program, more than doubling the amount spent on the troubled scheme since it was started more than five years ago.

Prime Minister Scott Morrison said on Tuesday that $256.6 million would go towards GovPass, the whole-of-government federal program that aims to eventually provide identity verification across a range of government and private sector services.

The new cash would “enable more secure and convenient engagement with government services and, in future, the private sector”.

MyGovId background

Znet on Mygovid

Relevant impacts: Financial impact, reputational impact and business impact

A Sydney man was arrested over alleged fraudulent claims for Australians affected by the recent bushfires and coronavirus. It is alleged that the man had assumed up to 11 identities and created 53 fictitious identities to submit claims for Commonwealth Government benefits. The value of the alleged fraudulent payments is approximately $70,000.