Nov 30, 2023 - Business

Coca-Cola, Meta rank among top U.S. companies that boost talent: new index

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Graphic: American Opportunity Index

Above is a first look at the top businesses in this year's American Opportunity Index, which measures companies' effectiveness at developing talent to drive business performance and advance individual careers.

Why it matters: Companies that outperform their peers in retaining employees can save massively on turnover costs.

Driving the news: Food and beverage companies Coca-Cola and J.M. Smucker took the top two spots, while W.W. Grainger — an industrial distributor — landed in third.

Zoom in: The index is a joint project of the Schultz Family Foundation (founded by Starbucks chairman emeritus Howard Schultz and his wife, Sheri), the labor-market research organization Burning Glass Institute and Harvard Business School's Managing the Future of Work Project.

  • "At a time when so many are questioning the vitality of the American promise, it's crucial that CEOs and corporate boards look inward and examine how effectively they are nurturing and developing their people," Schultz said.

Between the lines: The consortium says the index, which assesses 400 big companies, is unique because it isn't based on corporate surveys.

  • It's a big-data analysis of career trajectories of 5 million workers from 2018 to 2022. It's drawn from changes in their work histories on social media platforms and résumés posted online, and salary and job-posting data.

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