Business leaders urged to create jobs for the future to ensure stability across Europe

Political and economic issues, from the Gaza war to global monetary policy, continued to dominate the annual meeting of the World Economic Forum yesterday.

However, one theme central to political, economic and cultural developments worldwide is inclusion.

Ensuring people have jobs, and therefore economic and social inclusion, is not a new topic, but one that is facing fresh challenges, including the introduction of AI and recovering from the fallout of the

Covid-19 pandemic. Maximising growth and opportunities, increasing productivity and adopting AI are all elements in the discussion. Addressing the Forum, French President Emmanuel Macron stressed stability relies on jobs.

“If we want stability … help us give Europe’s middle class hope. We need good, well-paid jobs,” he said, reminding the fully attended session last night: “It is not just a problem for political leaders but for business leaders too.”

Mr Macron urged business leaders to help create jobs, especially in sustainable sectors “to allow people to embrace the transformations” across industries, especially with digitisation and sustainability becoming greater factors.

Executives are not only thinking about job creation, but also about how to organise their workforces, and to ensure diversity and inclusion in those they employ.

In a session entitled “Diversity in Practice”, Lorenzo Simonelli, chief executive, president and chairman of energy technology company Baker Hughes, said diversity in a team is profitable but must be ensured in supply lines.

Anne-Laure Malauzat, a partner with Bain & Company and regional chief diversity, equity and inclusion officer, said that a recent study showed that inclusion matters for everyone.

“No more than 35 per cent of any demographic group of employees said they feel fully included at work,” she said, from the report.

That lack of inclusion – in work and often consequently in society – can lead to major instability and political disruption. The connection between the two, particularly in Europe and the rise of the far right, has been a point of discussion in several sessions and closeddoor discussions.

Another challenge executives are dealing with is how employees can express views on political issues, including in Palestine and Israel while remaining true to their organisation’s values and mission.

In a closed-door event, one American participant told chief executives: “Remember, companies are not democracies, put limits where needed while listening to your teams.”