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

Health investments boost the economy on multiple fronts. They are linked to high employment, balanced trade, price stability, and high GDP growth – the “magic square” of economic policy. Moreover, these investments foster a positive feedback loop. As innovation improves health outcomes, productivity rises, leading to more wealth and more fiscal space to partly reinvest in health. My participation in the 2nd Innovative Medicines Symposium organized by AIFD | Araştırmacı İlaç Firmaları Derneği in Ankara focused on this topic. Citing WifOR Institute's research for various countries and regions, including Türkiye, I underscored how health leads to prosperity and growth:   → With a direct gross value added of 36.3 billion dollars, the Health Economy contributed a share of 4.2% to the overall Turkish GDP in 2019. → That same year, over two million people were employed in the Turkish health sector, which amounts to 6% of all workers in the country. → Growing an average of 4.0% within the last decade, the Health Economy has developed faster than the total Turkish economy (3.3%).   This shows that health will be decisive for Türkiye's economic future. Countries that allocate more resources to this sector consistently see greater monetary returns – reflected, for example, in GDP growth. With health investments, quality employment and job security increase. A healthy society is also a productive society, able to work, care for others, and engage in community life. Thanks to the organizers and to Ümit Dereli, General Secretary of AIFD, for this opportunity to share the value of promoting health. Make sure to subscribe to our newsletter to receive the latest health updates: https://lnkd.in/g2xyshkT Photo credits: AIFD (Association of Research-Based Pharmaceutical Companies) #Türkiye #HealthDrivesGrowth #HealthIsAnInvestment

Starting in 2025, companies, organizations, and decision-makers in Europe will be able to identify the (current and future) supply and demand of workers with a new interactive tool.   WifOR Institute joined forces with Deutsche Telekom to develop the first-of-its-kind European Skilled Labor Monitor. Based on the prognosis model successfully implemented by WifOR in Land Oberösterreich for Business Upper Austria - OÖ. Wirtschaftsagentur GmbH, the monitor harmonizes labor data in the EU, offers region-specific insights, and showcases workforce forecasts up to 2040.   So, who can benefit from using the monitor?    🤝 HR recruiters: When skilled workers are scarce, knowing where to look for them is crucial. Hiring managers can not only assess current labor shortages but also detect locations where personnel with the right skill sets can be found, thus facilitating talent acquisition.   🎯 Company leaders: Long-term planning is essential for any business. Assessing the evolution of labor within industries, regions, and occupations allows for the design of effective strategies to secure lasting competitiveness.   🏛️ Governments: The monitor shows the bigger picture of macro-trends like demographic change. Understanding the effects of a shifting workforce can help adopt adequate national and local policies to ensure labor needs are met. Different scenarios will be included in the future to shed light on possible solutions to personnel deficits.   💡 Scientific community: Having a unified source of comparable, reliable, and transparent data aids researchers and other experts when deep diving into labor topics.   Receive the latest news on the upcoming European Skilled Labor Monitor directly in your inbox: https://lnkd.in/drVwX9cW   See how the monitor works by exploring our tool for Upper Austria: https://www.fkm-ooe.at/   #LaborData #FutureOfWork #LaborMarketResearch

It’s more than just a headache.      Migraine is a leading cause of disability worldwide, with a particularly high prevalence among working-age individuals and women. It has a harmful impact on productivity, leading to a reduction in labor supply and, consequently, in economic growth.     WifOR Institute’s research indicates that the burden of migraine in Latin America is notably high in Argentina and Brazil, followed by Chile. From 2011 to 2022, the average socioeconomic burden of migraine in these countries corresponded to 1.8%, 1.6% and 1.3% of the GDP, respectively. During the same period, the economic burden of migraine disorders represented approximately 1.2% of the annual gross domestic product (GDP) in Mexico, Chile, Colombia, Costa Rica, and Ecuador.     In Germany, total of 836 million headache days are suffered per year. Women are disproportionally affected by migraines – with almost two thirds (65%) of headache days being suffered by this group. Its impact results in an estimated loss of 1.22 billion productive hours annually. This represents an economic loss of €26.8 billion in paid work and €22.0 billion in unpaid work.     Migraine’s societal impact is often underestimated. This is why it is imperative that we raise awareness of its effects and facilitate access to the newest medicines for those affected.       When we treat health as an investment and not a cost, it not only helps to drive growth and innovation, but it also improves overall societal well-being.      Read the full studies cited above:    Socioeconomic Burden of Main Diseases in Eight Latin American Countries, commissioned by FIFARMA: https://lnkd.in/efJHfhxt     The Socioeconomic Burden of Migraine: An Evaluation of Productivity Losses Due to Migraine Headaches Based on a Population Study in Germany: https://lnkd.in/edYjZ8QM     #Migraine   #HealthResearch   #BurdenOfDisease  

Recently, I had the opportunity to visit Buenos Aires to share WifOR Institute's research on health investments. Admiring the stunning architecture of the city, I thought about Argentina's former status as one of the richest countries in the world a century ago. A lot has changed since, as the nation has faced chronic inflation, high sovereign debt, cyclical hardship, and economic mismanagement in the last decades. But not all hope is lost for Argentina. Promoting health as a sector that consistently drives well-being, job creation, and wealth can help pave the way out of the crisis. Our study on the socioeconomic burden of disease, commissioned by FIFARMA, presents the Argentinian case, among others in Latin America. Between 2018 and 2022, the country lost 181.9 billion dollars due to the reduced productivity caused by seven major diseases. For context, the sum would be enough to pay back Argentina's record debt with the International Monetary Fund not just once, but around four times.   These findings are eye-opening for governments and ministers of finance across the globe. Understanding the widespread impact health investments can have on a country's economic situation can assist leaders in making better decisions. Clearly detecting the illnesses that affect societies the most and that cause the highest monetary losses allows for more effective budget allocations. In other words, resources can then be destined to where they reap more benefits.   For this purpose, we need roundtables for all disease areas where stakeholders can sit and discuss practical solutions. By fostering dialogue grounded in trustworthy data, we can plan for the long-term and secure greater prosperity. You can read my article on health investments and how they relate to economic stability (published by financial outlet El Cronista and translated to Spanish) here: https://lnkd.in/eQ4-YEC2 #BurdenOfDisease #EconomicGrowth #HealthIsAnInvestment

We’re hiring! 🚀   Are you passionate about understanding labor markets, diving deep into data, and conducting impactful research? At WifOR Institute, we’re on a mission to share meaningful insights that shape economies, societies, and industries worldwide.    Join our Labor Market team as a Senior Researcher! 💥   👉 Transform data into actionable insights for global decision-makers, working closely with proposal management and developing new projects. 👉 Collaborate with an expert team to deliver cutting-edge analysis and assist in the development of dashboards and software tools for labor market research.   👉 Conduct in-depth research in the areas of labor market and social policy, presenting the results to national and international clients.     Learn more about the position and apply here: https://lnkd.in/dzTBYu_a     At WifOR Institute, we are committed to fostering a work environment rooted in diversity, equity, and inclusion. We believe in the personal development of our employees, nurturing their growth and supporting career progress.     Join us in making a difference!    #Hiring  #Career  #OpenToHire 

⚖️ Materiality Assessment is the foundation for compliance with the CSRD. But did you know that the process for identifying material topics can also help meet the requirements of the European Due Diligence Directive (CS3D) and the German Supply Chain Act (LkSG)?   Connecting the Dots - How Materiality Assessment Bridges CSRD, CS3D, and LkSG:   🔎 CSRD (Corporate Sustainability Reporting Directive): The CSRD requires companies to analyze how their operations impact society and the environment. This aligns with the due diligence principles of the CS3D and LkSG, as both require risk identification and management across the value chain. Smartly navigating the overlaps reduces the effort for assessment and helps to focus on managing impacts.   🇪🇺 CS3D (Corporate Sustainability Due Diligence Directive): The CS3D mandates companies to actively manage human rights and environmental risks throughout their operations and supply chains. Therefore, companies need to map negative impacts and assess their severity. This aligns with the CSRD’s process to determine the materiality of these (actual and potential) impacts to disclose to investors and the public. Materiality assessment under CSRD also includes positive impacts and sets a stronger focus on environmental topics than CS3D.   🇩🇪 LkSG (Supply Chain Due Diligence Protection Act): The LkSG already requires German companies to conduct risk analysis to address human rights and environmental risks in their supply chains. These processes mirror CS3D’s broader due diligence requirements and integrate with the CSRD’s reporting framework.    By aligning their Materiality Assessment with these directives, companies can streamline compliance processes, inform impact management and reporting from a transparent base, and meet multiple legal obligations with a single integrated framework. Impact Valuation offers an integrated baseline for both impact reporting and management.   🔗 Learn everything you need to know about Materiality Assessments and how Impact Valuation helps identify relevant topics objectively: https://lnkd.in/d7Mv9ig2   🔗 Learn more about how to use Impact Measurement and Valuation for the German Supply Chain Act (LkSG) and EU Corporate Sustainability Due Diligence Directive (CS3D) here: https://lnkd.in/dBrnqZyw   #ImpactValuation #ImpactManagement #MaterialityAssessment

Small and medium-sized companies (SMEs) are of vital importance for the export-oriented Health Economy in Germany. But which EU markets offer the greatest potential for them?   A WifOR Institute study helps SMEs exporting pharmaceuticals, large devices, biotechnology products and other goods to optimize their business strategies and international trade. Our insights were shared by BDI - Bundesverband der Deutschen Industrie e.V. as part of a joint campaign to underscore the key role of health and its industries in Germany.   According to our findings, the European countries with the highest export potential are:  1️⃣ France: As the second-largest economy in the EU, France offers multiple opportunities. 2️⃣ Italy and Spain: These countries have a high proportion of people over 65 years of age and the strongest growth in this age group. 3️⃣ Sweden and Denmark: They both have the highest per capita health expenditures within the countries analyzed in our study. Read our study “Export potential of German health products in the EU” (available in German and commissioned by the Federal Ministry for Economic Affairs and Climate Action) here:  https://lnkd.in/d-jgi-UT Interested in our health research? Subscribe to our quarterly newsletter: https://lnkd.in/dY2YShqQ #Campaign #HealthExports #HealthIsAnInvestment

The MedTech branch is relevant for Germany’s economy, as highlighted by BVMed - Bundesverband Medizintechnologie citing our figures.   The Federal Association of Medical Technology used the interactive dashboard WifOR Institute created for the Federal Ministry for Economic Affairs and Climate Action to gather data on the sector's economic footprint. The insights were then shared in an in-depth article authored by Mark Jalaß, chairman of the BVMed board.   We are excited that our research is reaching new audiences. By highlighting these returns on investment, we can show policymakers the value of promoting health. These benefits extend beyond well-being. In times of political change in Germany, securing health also means securing jobs, prosperity, and long-term growth.   Read our study “SEE Impact Study of the German MedTech Industry” (comisssioned by BVMed) here: https://lnkd.in/dbwaHf9G   Explore our dashboard (available in German) here: https://lnkd.in/eKPpSp52 #BetterHealthForAll #MedicalTechnology #HealthIsAnInvestment

For countries facing economic difficulties, investing in health helps pave the way for a more prosperous, stable, and resilient future. This was the key idea I shared at Innovation Day Argentina, organized by CAEME and FIFARMA in Buenos Aires. My presentation focused on the multiple returns on investment that health drives, from job creation to well-being. In Argentina, the word “crisis” is common currency and inflation is the norm, yet the health sector provides an anchor of wealth and employment. In 2020, the Health Economy contributed 9.1% to the national GDP and employed 8.8% of the workforce. WifOR Institute's research shows the monetary losses Argentina suffered due to decreased productivity caused by major illnesses. In 2022, in a best-case scenario in which sick workers were replaced, 38.2 billion dollars were lost (6.4% of the GDP). In the worst-case scenario with no replacement, the figure climbs to 94.2 billion dollars (15.7% of the GDP). When considering the impact of the seven main diseases we analyzed, including migraine and diabetes mellitus type 2, Argentina’s losses amounted to 181.9 billion dollars between 2018 and 2022.    Investing in health is thus a way to boost economic activity, ensure more sustainable finances, and promote lasting growth. Addressing the disease areas with the greatest socioeconomic burdens is a way to optimize budgets and ensure a brighter future ahead — for individuals, society, and the economy.   Special thanks to the organizers and to Yaneth Giha for joining me! Read our study “Socioeconomic burden of main diseases in eight Latin American countries” (commissioned by FIFARMA) here: https://lnkd.in/gbAG54kJ Photo credits: CAEME #HealthResearch #BurdenOfDisease #HealthIsAnInvestment