Marsh & McLennan Advantage Insights logo
Conversations and insights from the edge of global business
Menu Search

BRINK News is transitioning to This Moment platform on MarshMcLennan.com as of March 31, 2023. Read the update here.

Quick Takes

The Riskiest Cities for Business Are in the Americas

Latin America has more than 60% of the most crime-stricken cities in the world, and crime risks are also rising in the U.S., according to analysis from consulting firm Verisk Maplecroft.

Maplecroft analyzed which areas of the world present the biggest security threats to companies and their employees, assets and supply chains. The 100 most dangerous cities are distributed over the globe, with 33 cities from the Americas, 33 from Africa, 19 from Asia, 14 from MENA, and one from Europe (Kyiv).

Sixty-two of the 100 riskiest cities are in Latin America, with eight cities — including Chihuahua, Medellín and San Salvador — receiving the highest possible risk scores. U.S. cities also performed poorly compared to similarly high-income cities in Europe and East Asia. Cities that featured prominently in their risk index include Baltimore, Memphis and Jacksonville.

Eurozone Inflation Hits Record High

Soaring food and energy costs drove inflation in the eurozone to new highs in June, with consumer prices rising 8.6% since last year. Nearly half of the 19 countries in the euro currency bloc have reached double-digit inflation, including the Baltic region, where prices have risen by 20% or more. Russia’s invasion of Ukraine has pushed oil and natural gas prices up by more than 40%, as EU sanctions reduce Russian energy imports by more than half.

As the cost of living increases dramatically, consumers are cutting back and manufacturers are reporting a drop in sales and demand. In the U.K. alone, inflation has outstripped wages for the majority of workers, with one-fifth of British households saying they are struggling to make ends meet. Countries in the eastern eurozone are particularly vulnerable, including Slovakia, where inflation has risen to 12.5%.

The European Central Bank says it will increase rates for the first time in a decade in an attempt to curb inflation and the deteriorating economic outlook.

The US Doesn’t Have Enough EV Charging Stations

More than 50% of the world wants to buy electric cars, but there may not be enough charging stations to meet demand, MIT Technology Review reports. 

The U.S. sold 400,000 electric vehicles (EV) last year, but has only 48,000 EV charging stations across the country — compared to 150,000 gas stations for gas-powered cars. There are even fewer DC fast electric charging stations (6,000), which can recharge an EV battery in minutes instead of hours. Most charging stations are located in large cities or spaced along interstate highways, but much of the country has wide swaths of charging deserts. 

The U.S. administration has promised to increase EV infrastructure by adding a half million chargers by 2030. In contrast, there could be 5 million EV battery charging stations across the EU by 2030 — and double that by 2035, according to a report from Transport and Environment

US Companies Step Up to Support Abortion Access in Wake of Dobbs Ruling

Source: Yale Chief Executive Leadership Institute

In the aftermath of the U.S. Supreme Court overturning Roe v. Wade, a growing number of high-profile companies — including Starbucks, Target, Patagonia, American Express and Disney — have announced policies covering employees’ costs if they have to travel to get an abortion. 

As of July 1, 2022, 119 U.S. companies have expanded their reproductive health benefits or offered travel reimbursement to employees in states with partial or full abortion bans. The greatest predictor of whether a company will offer support for abortion services isn’t the number of women in senior positions or gender-affirming values — but their industry, workforce and geography.

“The image of these firms as progressive on social issues is vital to attracting the tens of thousands of socially conscious Gen Y recruits they require to feed their pyramidic staffing and business models,” wrote Jeffrey Sonnenfeld in Fortune.

Sonnenfeld — a professor at the Yale Chief Executive Leadership Institute, who previously tracked which businesses withdrew from Russia — says these “first-mover companies” that are the first to speak out on social issues benefit with their bottom-line in the long run. Sonnenfeld says the 1,300 firms that exited Russia have since been rewarded by financial markets.

Top 5 Things the Most Innovative Companies Prioritize in HR

Talent attraction and retention are top priorities for both business and HR executives in 2022, as two-thirds of leaders say they’re facing a labor shortage crisis, according to Mercer’s 2022 Global Talent Trends Study. Reward strategies are a stronger focus for HR than previous years, with three out of the top five priorities focusing on addressing pay and equity gaps, improving total reward packages and improving workforce planning.

Attracting and engaging workers still poses a challenge—despite 88% of employees feeling satisfied in their current role, two in five plan to leave their job this year. Employees want companies to reflect their values and provide fair pay, job security, mental health strategies, and diversity, equity, and inclusion strategies.

The global survey also found that all employees, regardless of geography, thrive at work when they feel valued for their contributions and find the work fulfilling. Exceptions were employees in the Middle East, who most value a sense of belonging, and employees in Asia, who thrive when they’re having fun at work.

Get ahead in a rapidly changing world. Sign up for our daily newsletter. Subscribe
​​