Hewlett Packard Enterprise tops the 2024 JUST 100 list


Antonio Neri, CEO, Hewlett Packard Enterprise, at the NYSE, Oct. 19, 2023

Source: NYSE

Technology shares have taken again the No. 1 spot in the JUST 100, an annual rating of enormous public firms on issues of key significance to the American public, with Hewlett Packard Enterprise topping final 12 months’s No. 1 Bank of America.

HPE finished first amongst tech friends, a perennial sector chief in the JUST 100, in three core classes measured by Just Capital: employees, communities, and the surroundings. Its sturdy set of worker advantages, together with the longest maternity and paternity go away of any firm; its efforts inside communities to convey employees again into the labor drive; and its strict internet zero objectives and carbon emissions disclosures, have been key to rising to the high of the list.

Analysis of employee pay, advantages and alternatives, greater than another measures, are essential to high list efficiency, with Just Capital’s methodology based mostly on annual polling of the American public and the way Americans outline “doing proper by all shareholders.”

“Worker points are nonetheless entrance and middle,” mentioned Martin Whittaker, founding CEO at Just Capital, the nonprofit analysis agency based by hedge fund billionaire Paul Tudor Jones and others to establish giant public firms that outperform on stakeholder capitalism. The significance of employees has constantly risen in the polling knowledge, and now represents roughly 41% of the JUST 100 methodology, with “paying a good and residing wage” the high subject inside this class, representing just below 18% of the methodology.

“It’s at all times employees and it is at all times truthful pay,” Whittaker mentioned.

Career development alternatives, employee coaching and growth, advantages and retention are different points which helped push HPE and different firms increased in the 2024 JUST 100 rankings. All of those points, Whittaker mentioned, “cluster throughout the questions of ‘How good am I as an employer?'” he mentioned. 

“The competitors, it is fierce for expertise,” mentioned Kristin Major, chief individuals officer at HPE. “It’s additionally about retaining individuals who we have fought to get to come back right here, and we need to be pleased right here.”

HPE has supplied six months of paid parental go away since 2019, tied for longest of any firm in the Russell 1000 universe reviewed by Just Capital, and a part-time work choice for workers transitioning again to skilled life after that go away ends.

“Loads of firms do not have this profit or are placing it along with incapacity,” Major mentioned. “Paternity go away is important and other people speak to me about it once they come right here.”

Tech’s largest names drop, however extra chip shares transfer up

While HPE has risen, different notable tech names have slipped in the annual rankings, together with Apple, Microsoft and Alphabet. Of the three, all which stay in the JUST 100, solely Apple completed amongst the high 20.

The JUST 100 skilled vital turnover at the high of the list this 12 months, with six firms new to the high 10: Citigroup, The Cigna Group, Ecolab, Elevance Health, Advanced Micro Devices, and Micron Technology.

Whittaker mentioned it isn’t that these firms are dropping their give attention to key points, however reasonably, extra firms are becoming a member of them, and disclosing extra of the data wanted for the annual analysis.

“Those firms aren’t going backwards, however I do suppose competitors is arising,” he mentioned. “We know disclosure issues and disclose goes up quickly.”

Disclosure on points together with pay fairness by race and gender, and carbon emissions elevated 12 months over 12 months throughout the Russell 1000 universe, in keeping with Just Capital.

Whittaker mentioned that is additionally the case with the key employee points which can be the most closely weighted in the rankings. “The final three or so years marked an acceleration of firms investing in employees and communities, getting actually artistic, and I feel there firms in another industries which can be actually getting their act collectively,” he mentioned.

“It’s not as if they’re much less dedicated to it,” he mentioned of the earlier years’ high firms. “But firms cannot afford to tread water and assume they’ll keep at the high.” 

More firms are additionally making the case to staff at a time of intense political division on core ESG points.

(*100*), which moved up greater than 100 spots to complete in the high 10, has “actually amped up their advantages,” Whittaker mentioned, with Just citing its parental go away insurance policies, dependent care and versatile working hours, in addition to a really excessive employee retention price.

Emilio Tenuta, chief sustainability officer at (*100*) — which works with many main firms together with high tech companies on water administration that’s essential in knowledge facilities and might be much more in order superior AI chips proceed to extend in use — mentioned getting staff throughout its operations, and co-located at knowledge facilities and manufacturing websites, to purchase into its stakeholder strategy to points together with internet zero has been key. “It’s EROI,” Tenuta mentioned. “It’s the exponential return on funding. 25,000 staff in the discipline have that EROI understanding and mindset.” 

“We know ESG and another three letter acronym has grow to be polarizing,” he mentioned. “Organizations which can be doing this as a result of ‘its’ proper factor to do’ … that intent will fall flat. The dedication must be bolstered by delivering on enterprise efficiency and outcomes, and if you are able to do that, you may counter the argument, and it offers us an opportunity to assist associates, to say we’re rising our enterprise and in addition having an influence in the world.”

The JUST 100 Index that tracks the high 100 ranked firms has outperformed the Russell 1000 Equal Weighted Index by 38.5% since inception in 2019.

Full rankings and information is out there from Just Capital.



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