A total of 138 South African companies have earned the accreditation of “top employer”, joining the list of 2 303 organisations in 121 countries certified by the Top Employers Institute in 2024.
The Top Employers Institute is an independent organisation that assesses and certifies employers worldwide based on their human resources (HR) practices and the working conditions they provide for their employees. The institute announced the 2024 Certified Top Employers during an online event on 18 January.
To be a certified a top employer, organisations undergo a rigorous process to assess and validate their policies, and to determine whether employee conditions adhere or exceed industry best practices. This evaluation takes the form of an HR Best Practices Survey that covers various aspects of HR domains, including the people strategy, work environment, talent acquisition, learning, diversity, equity and inclusion, and the general well-being of staff.
The specific number of industries covered in the Top Employers Institute’s list of top employers varies from year to year and can depend on factors such as the industries represented among the participating organisations. The institute typically recognises top employers across various sectors and industries, encompassing a broad spectrum of the business world.
The top 25 top employers listed under the financial services industry for 2024 include: FSCA, Alexforbes, EPPF, Evolution Credit Limit, TransUnion Africa, RCS Cards, Sanlam, Mr Price Group Limited, African Bank, IG Markets South Africa, OUTsurance, Momentum Metropolitan, Avbob, Daimler Truck Southern Africa Limited, Government Employees Medical Scheme, Nutun Digital Business Services, National Lotteries Commission, Curo Fund Services, Discovery, Absa Bank, BMW Group South Africa, FNB, LegalWise South Africa, Monocle, and Acciona.
Putting employees first
Organisations that receive certification can use this recognition to enhance their employer brand and attract top talent.
Commenting on being awarded the certification, the FSCA said it was proud to join the ranks of other top employers in South Africa.
“This is a significant achievement for the FSCA, one we are very proud of. It is a confirmation of our organisational commitment to continuously enhance our value proposition and investment in the professional growth of our employees,” said Unathi Kamlana, the Commissioner of the FSCA.
FNB has been certified as a top employer in South Africa for the second consecutive year.
Donald Khumalo, FNB human capital executive, said: “We’re honoured to be recognised and certified as a top employer back-to-back for two years. This accolade showcases our ongoing commitment to create an organisation that prioritises our employees’ well-being and growth, fostering a culture of inclusivity, equity, and diversity.
“Being a top employer means that our organisation is highly valued and sought after for its work culture, employee value proposition, opportunities for career growth, and overall positive work environment.”
This year marks Momentum Metropolitan’s fourth consecutive certification, with improvements achieved in most of areas of measurement and excelling in the “Shape” category, which evaluates the work environment, digitisation of HR processes, and the management of change.
Improving its score and ranking each year, Momentum Metropolitan in 2024 scored above the South African benchmark in 65% of topics, against the other South African companies assessed and certified.
Lettie-Basani Phume, Momentum Metropolitan’s group human capital executive, said the company took note of where it could improve.
“(We) have worked hard to up our game for the well-being and support of our employees. We want a workforce that is engaged and empowered to bring their best selves to work. We want our people to feel respected and protected in a work environment that is not only conducive to productivity but also provides a pleasant and inspiring space,” said Phume.
Absa was recognised as a top employer for the third consecutive year, across five markets, including South Africa, Zambia, Ghana, Botswana, and Kenya.
Jeanett Modise, Absa’s group chief people officer, said the achievement underscored the company’s unwavering commitment to fostering a workplace where excellence thrives.
“And our people practices set the standard for the industry. This recognition is a testament to the dedication of our entire team and reaffirms Absa’s position as a leading employer of choice in the financial services sector,” said Modise.
Sanlam has been certified as a Top Employer for the ninth consecutive year. This year, 60% of Sanlam’s scores shifted positively. Additionally, the group scored “full marks” for Business Strategy, Organisation and Change, Digital HR, Performance, Purpose and Values, and Ethics and Integrity.
The Work Environment score saw the most significant improvement, reflecting the company’s efforts to enhance the employee experience in a hybrid work environment. Sanlam also made significant gains in its Offboarding, Sustainability, and Well-being scores.
Sana-Ullah Bray, group executive: human capital at Sanlam, said the company was committed to listening to its employees and responding to their needs.
“It is important for us to continuously review our people practices to ensure that we are meeting the evolving needs of our employees,” said Bray. “The Top Employer certification process provides us with valuable insights into how we can improve our practices and make our workplace even better.”
