The lone Filipino firm to reach the top 50 went up from 174th place last year to 43rd place this year.

While a total of eight Filipino firms have made it to the prestigious Forbes list of the World’s 700 Best Employers, only one managed to enter the top 50, San Miguel Corporation (SMC). SMC went up 131 places to become the 43rd best employer in the world, according to a report by the Philippine Star. 

The report notes that the rankings made by Forbes were determined through a survey that was conducted by market research firm Statista. This survey covered more than 170,000 employees from various multinational companies and institutions from over 50 countries. 

The criteria companies were rated on include the following:

• Talent development
• Remote working options
• Parental leave benefits
• Diversity
• Work-life balance
• Pride in the product or services that the company offers

SMC’s Ramon Ang Reacts to Surge in Rankings

The surge in rankings is a huge achievement of SMC, one that President and CEO Ramon Ang acknowledges. 

“It’s a great honor to make it to this list of the world’s 700 best employers, along with some of the most recognized and most successful Philippine firms,” says Ang. “This just goes to show that Filipinos can compete and run proudly with the very best in the world.”

“It also shows that given the right training, motivation, support, and a sense of a higher purpose, the Filipino workforce is highly motivated, effective, dedicated, and therefore fulfilled in their work,” he adds. 

Why This is Good News for Local Companies

Aside from SMC, seven other companies made it to the Forbes list of the World’s 700 Best Employers. They are: 

• Security Bank (54th)
• Metropolitan Bank and Trust Company or Metrobank (162nd)
• Ayala Corp. (186th)
• Alliance Global (283rd)
• Landbank (304th)
• LT Group (361st)
• SM Investments Corp. (420th)

The inclusion of these companies in the Forbes list of the World’s 700 Best Employers is positive news not just for the companies involved, but for local companies as a whole. Their inclusion shows that Filipino companies are now being recognized worldwide. 

These companies should also be examples to others when it comes to improving how companies in the country are being run. Companies should always aim to prioritize talent development, diversity, employee benefits, and work-life balance in their everyday operations.