Minor International Public Company Limited (MINT) has been recognised in the “World’s Best Companies 2024” by TIME magazine and Statista, the world-leading statistics portal and industry ranking provider. The prestigious recognition places Minor International at #425 out of 1,000 companies worldwide and ranks it as the #1 company in Thailand.
Now in its second year, the World’s Best Companies ranking is a comprehensive analysis carried out to identify the top-performing companies worldwide. After appearing in TIME’s inaugural 2023 edition, which named 700 companies changing the world, in 2024 MINT has improved its ranking by an impressive 180 places, achieving an overall score of 87.60 out of a possible 100. The company also secured an employee satisfaction rank of 633, sustainability transparency rank of 648 and ‘very high’ revenue growth rating.
The World’s Best Companies were identified based on three dimensions using more than 15 different criteria. First, employee satisfaction was investigated based on worldwide survey data from a large sample of employees from global companies. After determining the enterprises with an above average satisfaction level, Statista’s internal databases containing data for the last three years were considered to evaluate each company’s revenue growth. Then, organisations that performed above average for employee satisfaction and revenue growth were assessed on numerous KPIs in environmental protection, social responsibility and corporate governance. Finally, scores of all three dimensions were added with an equal percentage basis to form the final ranking score of maximum 100 points. The companies with the highest score were awarded as the World’s Best Companies 2024 by TIME.
Employee Satisfaction
Conducted in over 50 countries, anonymous employee satisfaction surveys collected data from approximately 170,000 verified employees to evaluate companies on dimensions such as image, atmosphere, working conditions, salary and equality. Participants were also prompted to evaluate other employers in their respective industries that stood out, either positively or negatively. Minor International earned strong marks from its global workforce due to its commitment to attracting, developing and retaining talent. In one example, over half of the graduates from the Minor Corporate University (MCU) program rejoined its workforce in 2023, underlining the initiative’s importance as a talent incubator and its role in empowering local communities. MCU’s long-term, one- to two-year programs aim to equip vocational students in Thailand with work-related skills, preparing them for successful careers in hospitality, restaurant and retail sectors.
Revenue Growth
When assessing financial performance, Statista considered all companies in its internal database of over 70 million. To qualify, businesses needed to demonstrate a revenue of at least US $100 million in 2023 (or last available fiscal year) and positive revenue growth from 2021 to 2023 (or last available fiscal year).
Minor International, operating under Minor Hotels, Minor Food and Minor Lifestyle divisions, reported total revenue of $4.5 billion in its latest fiscal year, up 21% from the prior year, earning ‘very high’ ranking.
Sustainability Transparency
For the third dimension, Statista’s experts analysed environmental, social and corporate-governance (ESG) data from current corporate sustainability reports to calculate the amount of pollutants relative to revenue to create an overall index based on standardised key performance indicators. In 2023, Minor Group stayed on track to achieving carbon neutrality by 2050 while going through a growth phase, as well as reporting a 61% reduction in single-use plastics and zero annual work-related fatalities among employees.
“We are honoured to be recognised alongside the world’s leading companies and proud to represent Thailand on the global stage as the highest-rated Thai company on the list,” said Dillip Rajakarier, Group Chief Executive Officer of Minor International. “At Minor International, our success has always depended on ensuring our team members thrive and that the communities we operate in benefit from our presence, in addition to delivering attractive returns to shareholders. Being acknowledged by TIME for the second consecutive year is a testament to the success of this strategy.”
Statista publishes hundreds of worldwide industry rankings and company listings with high-profile media partners. This research and analysis service is based on the success of statista.com, the leading data and business intelligence portal that provides statistics, business-relevant data and various market and consumer studies and surveys. The full list of companies is visible on time.com.
About Minor International (MINT)
Minor International (MINT) is a global company focused on two core businesses: hospitality and restaurants. MINT is a hotel owner, operator and investor with a portfolio of over 560 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson Blu brands in 57 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and the Americas. MINT is also one of Asia’s largest restaurant companies with over 2,600 outlets system-wide in 24 countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai Express, Bonchon, Swensen’s, Sizzler, Dairy Queen, Burger King, Coffee Journey and GAGA brands, as well as over 1,000 further outlets held through MINT’s strategic alliances (i.e. S&P and BreadTalk). For more information, please visit www.minor.com.
