October 16, 2020 Webranking

Norwegian companies put an emphasis on values but could go a step further

 By Chris Henson

The corporate websites of Norway's largest companies clearly communicate the values that shape their organisations. Though whether the company places importance on Integrity, or Trust, or Respect, more could be done to live these values by sharing sustainability initiatives such as reducing environmental impact and striving for equality.

The corporate websites of the largest 10 Norwegian companies by market cap have been reviewed for the latest season of Webranking by Comprend. The 10 sites score an average of 47.6 points (out of 100), which is an above average return when compared to the largest companies from 13 of the ranked European countries. There is still plenty of work that can be done to foster better stakeholder communication though, as expectations are higher than ever yet 7 of the 10 Norwegian companies have seen their scores reduce over the last year - a trend which has been prevalent right across Europe. To start turning the tide, Norwegian companies can focus on sharing details of their environmental impact, as this information is relevant for all stakeholder groups from investors to jobseekers. By contrast, jobseekers are receiving a good service when it comes to careers content, with Norwegian sites performing better than the European average, though there are still communication gaps here too.

Environmental data must not be overlooked

Norwegian companies present far less environmental data than companies across the continent, with only Belgian and Russian companies scoring at a lower rate when taking a sample of the largest companies into account. Just 3 of the 10 ranked companies present any environmental data on their websites at all, which is completely at odds with the importance of this information for corporate stakeholders. For example, from Comprend's latest Capital Market survey:

  • 84% find environmental targets and achievements important
  • 84% find environmental data important

In a year when BlackRock CEO Larry Fink wrote on the reshaping of finance due to climate risk, it's more relevant than ever for companies to put their environmental footprint front and centre of their sustainability communications. This is particularly the case for the Norwegian ranking list, with companies operating within sectors with a potentially high environmental footprint such as salmon farming, chemicals, and oil & gas. Despite this, only Equinor present environmental targets such as their vision for carbon emissions in context with their current performance.

Norwegian companies are serious about their values

An area where Norwegian websites are performing rather better is their Careers pages. To highlight one aspect, all but one of the ranked Norwegian companies present information on their company culture or values, which is a significantly higher rate than Europe's largest companies. Our latest research shows this information is important for 90% of jobseekers as they build an impression of what working at a company might be like, so this is clearly an area where Norwegian companies are meeting the needs of their users. Salmon farming leader Mowi stand out for a nice presentation of their four values, with a picture of their employees along with each one to represent that value in action.

Don't forget to communicate your commitment to equality

One area that needs additional attention, though, is diversity and equal opportunities information for jobseekers. This is standard information for a modern employer to divulge, and naturally it's highly important for prospective applicants. A company might have told their values story really nicely, but it's missing a key chapter if they are not also presenting their workplace as inclusive. Just 4 of the 10 ranked Norwegian companies currently share any information on their approach to diversity to equal opportunities, while none of those 4 provide any data to support their equality efforts. Norsk Hydro are one such company, and while they don't have any figures to back up their commitment, they do have a good segment on how their diversity is a strength and slots in with their values.

The Norwegian winners and the biggest climber

There are a few changes at the summit of this year's Norwegian Webranking list. Last year's top three all dropped points as a result of the more demanding criteria, but Telenor shed the fewest and take the top spot as a result - their first win since the 2014-2015 season. Equinor drop to second and Norsk Hydro move up to third, dislodging Orkla to become the first new entrant to the top three in six years. The best climber in this year's Norway list is Tomra, who have improved their score by 5.5 points to take 6th position, their highest position in Webranking to date.

RankCompanyScore (out of 100)
1Telenor59.5
2Equinor57.8
3Norsk Hydro56.4
4Orkla53.1
5Yara International51.0
6Tomra47.1
7DnB NOR44.3
7Gjensidige Forsikring37.4
9Bakkafrost35.9
10Mowi33.6


See the full Norway results

Helena Wennergren

Head of Research

helena.wennergren@comprend.com

+46 70 971 12 10

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