WifOR Institute

🚀We’re excited to share that #WISIT, the WifOR Institute Sustainability Impact Tool, has officially left its beta version!     WISIT is a web application designed to analyze the impacts of business activities and make data-driven decisions. It enables companies to track economic metrics, monitor environmental footprints, and assess social outcomes – all in one place and in line with global standards.      Use WISIT to:   🌐Calculate social, environmental, and economic impacts along your company’s supply chain, including Scope 3 emissions.   🔍Identify hotspots in the supply chain and empower your organization to address them.  📑Report your upstream impacts, including a tailored solution for the reporting requirements of the German Supply Chain Act (LkSG).      Join companies that have turned data into actionable insights, driving real change in their operations and communities. If you measure it, you can shape it!     🔗Register for WISIT here: https://lnkd.in/eqNfRWFa 📺Watch our WISIT tutorial series here: https://lnkd.in/evFKZ7KT    #WISIT  #Impact  #Sustainability

2024 was a special year at WifOR Institute, as we celebrated our 15th anniversary and reached new milestones in the fields of health, sustainability, and labor markets.   From a Lancet publication to WISIT and the Skilled Labor Monitor, let's take a look at WifOR's unforgettable year.   Read and subscribe to our newsletter below 👇 ✉️ #FutureOfWork  #ValueOfImpacts  #HealthIsAnInvestment 

🌎 On Universal Health Coverage Day, we are reminded that health is a universal right – and a shared responsibility. This year’s theme, ‘Health: it’s on the government’, highlights the essential role policymakers and administrations play in guaranteeing obtainable and affordable access to health.    At WifOR Institute, we advocate for viewing health not as a cost but as a fundamental investment. Governments are vital in creating the frameworks that allow health systems to thrive, fostering not only individual and societal well-being but also economic growth.    In a recent article by WifOR’s CEO Prof. Dr. Dennis Ostwald titled “Health as an Investment: Building the Foundation of a Well-Being Economy”, he underlines how prioritizing health can drive sustainable development and support a thriving economy.  💡 In 2023, the Health Economy contributed €435.5 billion to the GDP and supported 8.3 million jobs in Germany. Investing in health enhances a state's productivity, reduces reliance on external aid, and should be incentivized by rating agencies through favorable credit ratings to lower borrowing costs for health initiatives. 💡 Improved access to healthcare enables people to live longer, healthier lives, contribute more effectively to society, and provide care for others. Establishing country-specific health targets aligned with the United Nations Sustainable Development Goals (SDGs) ensures a globally coordinated and impactful approach to advancing health outcomes.    As we commemorate #UniversalHealthCoverageDay, let’s remember that prioritizing health investments is crucial for building a robust well-being economy that enhances both individuals' lives and societal productivity.    🔗 Read the full article here: https://lnkd.in/dRZfJMtz     #UHCDay2024  #HealthForAll  #HealthIsAnIvestment  

How can we quantify the long-term impact of investing in preventative healthcare to demonstrate the return on investment? What role does cross-sector collaboration play in driving efficient and smart investment in health?    Last week, I had the opportunity to answer these questions at the “Health as an Economic Imperative” Health Forum, organized by Business at OECD (BIAC), in Paris.     I was part of the panel titled “Investing in Health for Fiscal Efficiency and Economic Growth” where I highlighted the importance of viewing health as an investment to improve health and socioeconomic outcomes.     The panel explored how strategic health investments help reduce the burden of diseases, lower costs, and enhance productivity, thereby promoting fiscal sustainability. It highlighted the role of preventative care as an essential contributor to sustainable economic growth.     Key points of my speech:    - Health metrics play a crucial role in quantifying the long-term impact of investing in preventative healthcare to demonstrate the return on investment for governments and stakeholders. They help us identify in which areas investments can have the highest benefits in terms of health and socioeconomic outcomes.     - Integrating health metrics into the credit ratings of countries will help ensure that governments and investors alike recognize the economic value of robust healthcare systems. This could lead to improved access to financing for health initiatives, as well as stronger fiscal sustainability and resilience in the face of future challenges.    - Enhancing the healthcare system calls for collaboration among stakeholders, clear goal-setting, and open, transparent communication – key elements for driving meaningful change. Stakeholders must work together to address social determinants of health and governments can leverage industry and academic expertise to implement policies that will have positive health outcomes.    - Health investments create a positive feedback loop, where medical innovations improve population well-being, expanding fiscal capacity for further reinvestment. This drives continuous progress in innovation, health outcomes, and economic growth.    Thanks again to Business at OECD (BIAC), Rebecca Richmond, and Olga Mironenko Stampfer for having me on stage!     #Health  #HealthForAll  #HealthIsAnInvestment 

🌍 How can we empower companies to measure their true societal impact just as they measure profits? Every organization has an impact – yet most externalities are not reflected in financial statements. In a recent interview with Daniel Baumann from dfv Mediengruppe (Deutscher Fachverlag GmbH), I discussed how Impact Accounting can help companies to assess and improve their value to society.     Key takeaways:  - Currently, sustainability reporting includes physical data, such as “0.15 micrograms of fine dust per cubic meter.” However, these metrics can be difficult to interpret and compare with other indicators, like “liters of water consumption.”  - Impact Accounting converts physical data into one standardized monetary unit (euros), which reflects the costs and benefits of sustainability indicators to society. Thereby, like in financial accounting, different indicators become comparable to provide business leaders with an actionable data basis for decision-making.  - At WifOR Institute, our goal is that Impact Accounting is as firmly embedded in companies as financial accounting. This would motivate companies to move beyond profit optimization and focus on achieving the greatest overall impact.    ✏️ Read the article (in German, €) here: https://lnkd.in/d6PtdRkM     At WifOR Institute, we’ve partnered with GIST Impact and jointly released our value factors – supported by the Capitals Coalition, the Value Balancing Alliance, and the International Foundation For Valuing Impacts (IFVI) Impacts.     🔗 Learn more about our framework here: https://lnkd.in/dbDyAqgC    #Impact  #ImpactValuation  #ImpactAccounting  GREEN.WORKS - Wissenshub grüne Transformation

🎅 Santa Claus is looking for skilled workers! 🔎 Christmas is coming and, up in the North Pole, Santa is working day and night to ensure everything runs smoothly for the gift delivery. But he is facing a major problem: labor shortages. Only with enough qualified personnel can such complex logistics be a success. To assess the situation, Santa resorts to WifOR Institute. The data he obtains proves useful: 🎄 Less “Christmas helpers” overall → Labor shortages have been growing in the EU for more than a decade, according to Eurofound. The agency also reports that 80% of employers struggle to find workers with the skill sets they need. 🎁 Who will bring the gifts? → Heavy truck drivers are within the top three jobs experiencing extreme shortages in the EU, as per a EURES report. Workforce deficits for this profession were identified in 19 countries. 🏭 Local “toymakers” also face difficulties → When looking at specific regions, the picture for labor shortages is similar. WifOR’s Skilled Labor Monitor for Upper Austria provides an example. In the Austrian state, there is a current gap of 6.5% for personnel in transportation and storage, and the figure is expected to climb to almost 16% by 2040. Santa knows he needs to find employees, but how and where? WifOR will help with the European Skilled Labor Monitor, a tool that identifies the (present and future) supply and demand of workers in the EU and its regions. With forecasts up to 2040 and harmonized labor market data, Santa can now effectively plan his recruiting and organizational strategy, ensuring many merry Christmases ahead. 👉 Receive the latest news on the European Skilled Labor Monitor, to be launched in 2025, here: https://lnkd.in/drVwX9cW 🔎 Want to see how the monitor works? Explore our tool for Upper Austria here: https://www.fkm-ooe.at/ #Christmas #SkilledLaborMonitor #LaborMarketResearch

Establishing reskilling pathways and effective training strategies can be challenging for companies facing fast-paced transformations. To help businesses in this endeavor, WifOR Institute released a new in-depth qualitative study.   WifOR's Team Lead for Labor Market Dr. Jan Fries and Researcher Henry Zehe presented our publication “Professional Development in Practice – An Analysis for the Presentation of Qualification Paths in the Automotive Industry” in Stuttgart.    The study was commissioned by e-mobil BW GmbH, the agency for mobility solutions in the German state of Land Baden-Württemberg. It compiles practical examples and successful learning models from industry leaders. Some key takeaways:   💪 Success factors: The involvement of managers and employee representatives, the integration of theory and practice, and flexible learning formats – among other aspects – helped implement qualification pathways.   🏋️♂️ Challenges: The dependence on external educational institutions and the adaptation to constant technological progress were some issues posing obstacles for reskilling.   💡 Recommendations: Understanding new qualifications as a joint “win” is essential. This includes establishing a work culture rooted in life-long learning and promoting training measures with the assistance of external stakeholders.   Read the full study (available in German) here: https://lnkd.in/d9dPTVrg     Special thanks to Transformationswissen BW c/o e-mobil BW GmbH for organizing this insightful event and to Saskia Schüttke and Martin Abele for joining us on stage!   We also want to thank AgenturQ as well as the companies who shared their perspectives for the study: Daimler Truck AG, AUDI AG, MAHLE, Albert Handtmann Metallgusswerk GmbH & Co. KG, Bosch, Stöhr GmbH Metalltechnologie, ZF Group, Schaeffler.   Photo credits: e-mobil BW   #Training #Qualifications #LaborMarketResearch

Last week, we were proud to see WifOR Institute’s Head of Health Economics, Dr. Malina Müller, take the stage at the Herzmedizin-Summit 2024 in Berlin. She delivered a keynote on Heart Health and Prosperity: Positioning Healthcare Spending as a Catalyst for Economic Resilience, as well as an interview on the topic.    She shared the stage with other relevant speakers such as Germany’s Health Minister Karl Lauterbach and the president of the German Society for Cardiology Prof. Dr. Holger Thiele.    In her address, she emphasized that health investments contribute to workforce productivity, innovation, and long-term societal well-being. During her interview, she further explained this idea:    💡 Effective health policies not only enhance societal well-being but also reduce costs and boost productivity, thus laying the foundation for a resilient economy and thriving society. 💡 Simple yet impactful measures like regular exercise, balanced nutrition, and routine checks for blood pressure and cholesterol can significantly reduce the prevalence of cardiovascular diseases. Prevention is a quick win! 💡 Improving the healthcare system requires cooperation among stakeholders, well-defined objectives, and transparent communication. These elements are essential for driving change.    Her insights reinforce the importance of viewing health not as a cost, but as a critical investment for sustainable growth. At WifOR Institute, we promote decision-making based on valid data. Our studies show that targeted health investments not only improve public health but also drive employment, economic growth, and innovation.    We would like to thank Dr. Winfried Kösters for moderating and Herzmedizin.de for organizing such an impactful event.    Watch Dr. Müller’s interview here (in German): https://lnkd.in/dyCQmAxY     To learn more about WifOR Institute’s research head to: https://lnkd.in/e3t6sPPz     #HealthForAll  #HealthIsAnInvestment  

Reaching sustainability objectives requires standardization and cooperation.    The launch webinar of the Value Balancing Alliance (VBA) Impact Statement brings together thought leaders to address the need for common approaches for impact assessment. WifOR Institute's Head of Impact Analysis, Dr. Richard Scholz, will join the discussion and share the data providers’ view on the statement as a milestone for Impact Accounting.    The event will delve into practical recommendations for institutions, providing expert guidance on reporting procedures and harmonized frameworks. The aim is “to bridge the gap between the need for monetized impact disclosure and the lack of standardization and data transparency,” says VBA in its statement.   At WifOR, we are excited to be part of the mission to promote global best practices for sustainability reporting, laying the foundation for better decision-making.   📅 Join us at the event today: “Data Providers' View on the VBA's Impact Statement”, December 4th, from 13:00 to 14:00 CET. Register here → https://lnkd.in/dJFcgQ35 🔗 Read the full VBA Impact Statement here: https://lnkd.in/dzBtYZHe   #ImpactAnalysis #Sustainability #ImpactMeasurement

After a successful beta phase, the WifOR Institute Sustainability Impact Tool (WISIT) is fully operational, making it easy for companies to measure their impacts 🚀   WISIT is a web-based application designed to analyze the social, environmental, and economic impacts of business activities and in the supply chain. From measuring Scope 3 emissions to complying with reporting requirements such as the German Supply Chain Act (LkSG), WISIT supports sustainability efforts and informed decision-making.   Based on information already at hand, companies can track their ESG impacts in three simple steps and monitor improvements year by year: 1️⃣ Upload available data → Use purchasing lists outlining procurement costs for a specific financial year.   2️⃣ Let WISIT do the calculations → We provide detailed analysis and forecasts up to 2030 based on WifOR’s comprehensive and up-to-date database.   3️⃣ Get the results → Obtain useful insights and a breakdown by product group, purchasing areas, regions or supply chain level, for example.   Join the companies using data to transform their operations and drive sustainable change. Register for WISIT here: https://lnkd.in/divi_wDA   Watch our WISIT tutorial series here: https://lnkd.in/evFKZ7KT   #WISIT #Impact #Sustainability