14/09/2024. TIME Magazine and Statista have announced the 1,000 world companies that are included in TIME WORLD'S BEST COMPANIES OF 2024, aka the 1,000 best companies in 2024. The list this time surprised the Indonesian people, because five of the 1,000 companies in the world that entered the prestigious list came from Indonesia. One of them is PT Bank Negara Indonesia (Persero) Tbk or BNI.
In the list of the best companies announced by TIME in the September 12, 2024 edition, it appears that BNI has the second highest rank compared to four other Indonesian companies. BNI is ranked 892nd, followed by Adaro Energy at 908th, then Bank Mandiri at 914th, and Charoen Phokphand Indonesia at 961st. There is also Astra International which is ranked 435th.
For this achievement, in a written statement in Jakarta, Saturday (September 14, 2024), BNI Corporate Secretary Okki Rushartomo stated that BNI's qualification in the TIME and Statista lists was a very proud achievement.
The positive recognition of the three dimensions assessed by TIME and Statista towards BNI, according to Okki, is an affirmation of the corporation's important position in global competition. BNI's achievements are inseparable from the support of SOE Minister Erick Thohir and the Ministry of SOEs which have emphasized the mandate, making BNI a globalized Indonesian bank.
"We are encouraged to do even better. This recognition from TIME and Statista serves as an encouragement for all BNI Hi-Movers to continue to perform in the face of extremely hard global economic conditions," he stated.
For your information, 2024 is the second year for TIME Magazine to publish its annual World's Best Companies list. TIME was not alone, it collaborated with Statista, a leading international market and consumer data provider and rating.
“The result of this quantitative study is the emergence of 1,000 companies forging a path to the future,” TIME Magazine quoted.
In its explanation, the 'World's Best Companies 2024' research project is a comprehensive analysis conducted to identify the best performing companies across the globe. The research is based on three key dimensions, namely Employee Satisfaction, Revenue Growth, and Sustainability Transparency (ESG).
The first dimension, Employee Satisfaction, is evaluated using survey data from employees around the world. Surveys are conducted in over 50 countries with data collected from approximately 170,000 participants.
This evaluation involves assessment of the company across the dimensions of image, atmosphere, working conditions, pay and equality by verified employees as well as direct and indirect recommendations.
The second dimension, Revenue Growth, is assessed using data from Statista's revenue database and targeted research, which contains company growth data for the last three years.
Companies must have met certain criteria to be considered for evaluation, including generating revenue of at least US$100 million in the last available fiscal year and demonstrating positive revenue growth from 2021 to 2023.
The third dimension, Sustainability Transparency, is evaluated based on ESG data among standardized KPIs from Statista's ESG Database and targeted data research. To formulate a comprehensive ESG index, several data points are collected.
For the environmental evaluation (E in ESG), this covered the intensity and level of carbon emissions reduction, as well as the Carbon Disclosure Project (CDP) rating. The social dimension (S) assesses the number of women on the board and the existence of a human rights policy. The governance dimension (G) evaluates whether the company has a Corporate Social Responsibility (CSR) report that follows Global Reporting Initiative (GRI) guidelines and compliance or anti-corruption guidelines.
Once the data has been collected and evaluated, it is consolidated and weighted in a scoring model. The scores from the three dimensions are added by the same percentage to form a final ranking score of a maximum of 100 points. The 1,000 highest-scoring companies are honored as World's Best Companies 2024 by TIME and Statista.