But which companies on the continent are the best to work for?
Fortune and Great Place To Work have published the “Fortune 100 Best Companies to Work For Europe” list, which was compiled by analysing more than 1.3 million survey responses from over 2 million employees across Europe.
The companies that topped the list had employees who were both more motivated to work and more comfortable with their company’s way of working.
For instance, according to a blog by Great Place To Work, their market study found that, in high-ranking companies, nearly 90 per cent of workers reported that they put in extra effort to get the job done, compared to only 59 per cent at a typical European workplace.
They also found that camaraderie was a driving factor, with workers being 108 per cent more likely to give extra effort if they felt a sense of cooperation with their colleagues.
Moreover, 86 per cent of employees at these top workplaces expressed plans to stay long-term, compared to just 60 per cent at other workplaces, which was particularly relevant among those who felt their work was meaningful and provided them with a sense of purpose.
Also the report found that innovation rates were 66 per cent higher at the top workplaces and were mainly driven by continuous training and development opportunities the companies were providing.
Here’s a look at the 10 best companies to work for in Europe according to the latest Fortune listing.
Work-life balance was also a key factor behind the higher rankings of companies and one of the aspects that workers valued most.
A high percentage of workers, about 85 per cent, who work at one of the best companies, said they were encouraged to maintain a balance between their work and personal lives, with 92 per cent reporting that they were able to take time off when necessary.
Fairness in the workplace also played a significant role and contributed to the higher rankings of some companies.
Employees at those companies reported that promotions were fair (78 per cent), they received a fair share of company profits (70 per cent), and their managers did not play favourites among their staff (81 per cent).
This sense of fairness was also linked to employees’ willingness to adopt artificial intelligence (AI) tools in their work.
Only around one in three respondents (34 per cent) from the whole European study said they were excited to use AI to improve their work; the report also found that those who believed their companies were fair were 29 per cent more likely to be excited to use AI tools.
What are the leading industries in Europe?
While European workers are still reluctant to adopt AI, the technology sector in general is not a dominant force in Europe when it comes to jobs.
This contrasts with the US, where tech companies like Nvidia, Microsoft, and Google are among the best and have emerged as early winners in the AI boom.
In Europe, however, many of the leading companies are from more traditional industries such as fossil fuels, automotive, and finance, as shown in the recent Fortune 500 list.
Topping the list, Europe’s biggest company was German car manufacturer Volkswagen, followed by two oil and gas companies, Britain’s Shell and France’s TotalEnergies.
According to Fortune, while only 15 companies in this year’s list are from the tech sector, legacy businesses are also opening the door to innovation by adopting automation technologies.
For instance, Volkswagen announced earlier this year the integration of AI chatbot ChatGPT into the voice assistant in some of its vehicles.
Additionally, the fossil fuel company Shell has also embraced the use of AI in its operations, like using AI-based technology in deep-sea exploration and production, with the aim of improving operational efficiency, speeding up processes, and increasing production.
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Publish date : 2024-10-24 22:00:00
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