In a thrilling accolade for the world of hospitality, Minor International Public Company Limited (MINT) has earned its place among the “World’s Best Companies 2024,” as celebrated by the respected duo of TIME magazine and Statista. This nod of recognition secures Minor International the coveted spot at #425 out of a thorough listing of 1,000 exemplary companies globally. Even more impressively, it stands as the undisputed leader in Thailand, crowned as the #1 company in the nation.
The World’s Best Companies ranking isn’t just another list. Now in its exciting second year, it is a meticulous analysis aimed at spotlighting businesses that are setting standards and exceeding expectations worldwide. In the 2024 edition, MINT has elevated its standing dramatically, leaping 180 places higher than its debut ranking in 2023. With an astounding overall score of 87.60 out of 100, MINT shines not just in numerical rankings but in significant areas of operation as well, including an employee satisfaction position of 633, a sustainability transparency standing of 648, and a ‘very high’ commendation for revenue growth.
At the core of this recognition are three vital dimensions judged across more than 15 different criteria. The journey begins with employee satisfaction, an essential element gauged through worldwide survey data amassed from a vast pool of employees at global organizations. To dive deeper, companies exceeding the average satisfaction threshold undergo further scrutiny via Statista’s rich internal databases, which contain a three-year track record of financial performance. Here, forward-moving growth in revenue becomes key. The third dimension evaluates environmental protection, social responsibility, and corporate governance through a series of refined KPIs. Each of these dimensions contributes equally to a total potential score of 100 points—only the crème de la crème rise to the top as TIME’s World’s Best Companies.
Employee Satisfaction – The Heartbeat of Success
Spanning more than 50 nations, the research behind employee satisfaction collected the insights of approximately 170,000 verified employees. The questions? A focus on a company’s image, atmosphere, working conditions, compensation, and equality in the workplace. Additionally, participants were encouraged to spotlight employers within their industries that make a mark—be it positive or negative. Minor International received thumbs up from its worldwide workforce, largely due to its commitment to talent attraction, development, and retention. A highlight here is the Minor Corporate University (MCU) program, which has seen over half of its graduates return to MINT’s workforce in 2023, proving its worth as a cultivator of promising talent and a boost to local communities. MCU’s long-term programs, ranging from one to two years, are expertly designed to gear up vocational students for successful careers in hospitality, restaurants, and retail.
Revenue Growth – The Fuel for Progress
In terms of financial performance, MINT stands tall, reporting a staggering $4.5 billion in total revenue for its latest fiscal year. This marks an impressive 21% rise from the previous year, earning it a ‘very high’ ranking in revenue growth. Statista’s assessment encompassed more than 70 million companies, with a prerequisite for a minimum revenue mark of USD 100 million in 2023, complemented by positive growth from 2021 through 2023.
Sustainability Transparency – A Vision for Tomorrow
The final piece of this triad—sustainability transparency—saw Statista’s experts dive into ESG data extracts from current corporate sustainability reports. This analysis strives to crank out an index that quantifies pollutants relative to revenue using standardized KPIs. In 2023, Minor Group walked the talk in their sustainability goals, bearing witness to a 61% decline in single-use plastics and no recorded work-related fatalities for another year. Their vision? Carbon neutrality by 2050.
“It’s an honor to be seated at the table with the world’s leading companies and to proudly fly the flag for Thailand, having been rated as the highest Thai company on the list,” shared Dillip Rajakarier, Group Chief Executive Officer of Minor International. “Our story of success revolves around nurturing thriving team members while driving benefits for the communities in which we operate, alongside delivering robust returns for our shareholders. Recognition from TIME for a second consecutive year is a testament to the potency of this strategy.”
With hundreds of industry rankings and company listings published by Statista in league with high-profile media allies, this well-established research and analysis service rises from the roots of statista.com. The site is a go-to hub for apt statistics, business-critical data, and a wealth of market and consumer studies. For those curious about who made the cut, the full list awaits you on TIME’s website.
About Minor International (MINT)
Minor International (MINT) is not your average global company; it is a powerhouse in the realms of hospitality and gastronomy. With a sprawling portfolio of more than 560 hotels branded under esteemed names such as Anantara, Avani, Oaks, and a dozen more, MINT operates across 57 countries, spanning Asia Pacific, the Middle East, Africa, and beyond. Not resting on its laurels, MINT also stands as one of Asia’s largest restaurant companies, serving up culinary delights in over 2,600 outlets across 24 countries, under beloved brands like The Pizza Company, Benihana, and many more, fortified by strategic alliances such as those with S&P and BreadTalk. To delve deeper into their journey, visit www.minor.com.
Wow, it’s amazing to see a Thai company ranking so high globally! MINT must be doing something right. Kudos to them for focusing on employee satisfaction and environmental responsibility.
It’s impressive, but let’s not forget that environmental responsibility also means action, not just reports. They need to stick to their sustainability promises.
True, but at least they’re making an effort. How many companies talk about carbon neutrality actively? It’s a step in the right direction.
You guys realize this is just corporate fluff, right? Most big companies care more about profits than genuine responsibility.
The increase in their ranking is indeed significant, but am I the only one questioning their current sustainability transparency score? I mean, it seems low compared to other leaders.
Exactly! A growth spurt in profits doesn’t always equate to ethical practices. I’d like to see deeper insights into how they plan to achieve this ‘transparency.’
Interesting how they prioritize employee satisfaction. I wonder how that correlates with their high employee turnover rate in hospitality?
That’s a good point. High satisfaction doesn’t always lower turnover. Is the MCU program enough to retain talent, or is it just a Band-Aid?
Honestly, it could be more of a marketing tactic. Sure, employee satisfaction sounds great, but what about the reality on the ground?
Isn’t it ironic how companies with hotel chains still score high on sustainability? The energy consumption alone must be insane.
Yes and no. If they are truly striving for sustainability, they should have measures in place to offset their environmental impact.
Maybe they use renewable energy in their operations? There’s a lot we might not know going on behind those high scores.
Is saving on single-use plastics really that impressive for such a big company? Looks like just a drop in the ocean to me.
Any step towards reducing plastics is still worth acknowledging. It’s better than doing nothing, and it sets a precedent for others.
Incredible that they jumped 180 spots! I just wonder if these rankings accurately depict a company’s reality or just their perception. How trustworthy are these lists?
Great question. These lists can be skewed due to different parameters or biased data. An independent evaluation would be more transparent.
Revenue growth of over $4 billion is no joke. But what about their impact on local businesses, especially in developing nations?
True, large corporations often overshadow smaller ones. It’s a balancing act, but they’re also creating jobs and investing in communities.
True, but at what cost? The balance between economic growth and ethical practices is tricky.
The Minor Corporate University sounds promising. Training programs are essential for skill development, but what’s the curriculum like?
Maybe Minor International is great in Thailand, but globally they’re competing with giants like Marriott and Accor. Still a long way ahead.
That’s true. It’s about global impact, not just regional success. They need to work more internationally.
Call me skeptical, but these ratings always seem a bit subjective to me. What rings the alarm is how these get calculated at all.
Agreed. Methodologies can vary, which is why transparency from rating organizations is crucial.
It’s good to celebrate achievements, but let’s also keep them accountable. They have an ambitious goal for carbon neutrality – let’s see progress reports.
Sounds like a PR move to me. Who’s checking if they actually follow through with their ambitious sustainability actions?
It would be interesting to know how Minor International plans to maintain this ranking next year. Consistency is challenging.
True, Minor International is soaring high now, but these rankings can shift rapidly. One wrong move and their position could plummet.
Rankings aside, I’m just happy to see a Thai company shine on the global stage. It’s about time!