Spanish companies provide detailed share information but need to explain their purpose
We have once again evaluated how well the largest Spanish companies meet stakeholder expectations on their corporate websites. The results show that the average score has not improved, and the Spanish companies still fall slightly behind their European peers. While the companies provide extensive information about their shares, they need to become better at explaining their purpose, especially to jobseekers.
This year, 24 Spanish companies were included in Webranking by Comprend. Their average score has increased by 1.1 points and is now at 42.7points, still slightly below the European average of 44 points.
The Spanish companies perform the best in providing Reporting and Governance information. The performance in the Governance section has improved significantly compared with last year, which is positive since the expectations of transparency are becoming higher.
When summarising the Spanish results, we have noticed the following:
Spanish companies stand out in providing extensive share information, especially analyst recommendations.
The companies should become better at explaining to jobseekers which roles are available at their company and what tasks the people working in them commonly do.
They must start presenting their purpose in the Careers sections to motivate jobseekers to apply.
Detailed share information
One area where Spanish companies perform well is when it comes to providing information about their shares. To help investors make an informed decision, as much information about your company's shares should be provided. Considering this, it is very positive that Spanish companies generally provide a lot of share-related information.
For example, many offer a comparison function in the share graph, where investors can compare the share price with their companies' competitors. As many as 46% provide this, corresponding with 29% of all the companies on the Europe 500 list.
The Spanish companies are also good at presenting analyst information, especially when presenting individual estimates. 67% of the companies provide this, compared to 17% of the European companies. Regarding consensus estimates, the performance doesn't stand out as much, but it is still better than the European average. 46% of the companies provide consensus estimates compared to the European average of 34%.
Analysts' recommendations have become more popular since the introduction of the round-the-clock stock market and other sources used for investment recommendations, such as social media. Presenting updated analyst recommendations on your corporate website makes them easy to find for potential investors, as they won't need to use multiple information sources.
Repsol present detailed analyst information as well as a graph showing the percentage of each recommendation. It is also clearly marked with a date, showing investors that the data is updated regularly.
Spanish companies need to explain their purpose
One area where Spanish companies struggle with meeting stakeholder expectations is in presenting sufficient Careers information. The Spanish companies fall behind their Europan peers and, on average, fulfil 33% of the criteria, which compares with the European average of 48%. The score has not changed since last year, meaning that not many improvements have been made.
The Spanish companies fall especially behind in giving an overview of which career areas and roles are available at the company. Jobseekers want to know which roles the people working at a company commonly have and what tasks they usually do to get a good picture of if it would be something for them. It is also beneficial to complement this information with interviews from employees working within each business area/role to create a more personal feeling.
The companies also fall behind in explaining their purpose in the Careers section. Less than half of the ranked companies provide this (46%). As a consequence of the Covid-19 pandemic, it has become more important than ever for employees to feel that their work has meaning. That is why it is essential for companies to clearly explain how working at their company contributes to serving a higher purpose to motivate jobseekers to apply.
Amadeus are the best-performing Spanish company when it comes to presenting Careers information. They include their purpose of "powering the future of travel" as one of the first things you see when entering the section, clearly setting the tone. They also provide more detail about their purpose by explaining that working for them would "help millions of people travel better".
The section also offers a good overview of the different areas where they have available roles. The overview is also complemented by videos and employee testimonials.
The recruitment process is also explained in a detailed way, clearly informing about each step. The information is also complemented by some tips for how to succeed in an interview.
Repsol continue to be the Spanish top performer with a performance that stands out among their Spanish peers, as they have received 14.3 points more than Santander, that come second. Repsol present impressive Share, Governance and Sustainability information.
Santander are new on the podium and have climbed from eighth to second place, improving the total score by 11.8 points. Their strongest areas are About us and Share information.
CaixaBank have been knocked down one placement, from second to third, despite improving their score by 5.5 points. They perform especially well when it comes to presenting Sustainability information.
The Spanish company that has improved the most since last year are Enagás. They have a new website since last year, which has resulted in an increase of the total score by 13 points. They have climbed from 16th to 9th place. Good job!