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Being a best employer is good for business
A BEST employer also makes a better businessman. The numbers support this.
Companies on human resource consultant Aon Hewitt's Best Employers list bring in revenues that are 18 per cent higher than the market average. They make 11 per cent more profits. The superior financial performance in turn makes best employers a stronger magnet for talent, which reinforces their superiority.
Eleven companies made it to this year's Best Employers list, which is divided into three categories. The top honour, Best of the Best, goes to Ritz Carlton Millenia Singapore. The super luxury hotel also took the top prize in 2013.
Six companies filled the Best Employers section, half from the financial sector. The financial sector also accounts for half of the remaining four companies that were given Special Recognition.
All 11 of the best employers score higher than average marks in employee engagement, effective leadership, compelling employer brand and performance culture - the hallmarks of a best employer.
According to Aon Hewitt, the best employers' engagement average score was 80 per cent, against the market's average of 63 per cent.
Some 86 per cent of the best employers have put in place formal mentoring programmes to develop an effective leadership pipeline; only 54 per cent of the other employers boast such programmes.
Four in five of their staff say that the best employers deliver on their promises, higher than the market average of 61 per cent. And 86 per cent of the best employers integrate promotion-linked goals into performance management, against the average of 54 per cent for the market.
The Aon Hewitt Best Employers list has appeared since 2001. But, until 2015, the list was published every two years; it's now an annual affair.