Construction major Larsen & Toubro (L&T) is the only Indian company to find a spot among the top 25 companies in Forbes' global 2,000 best employers list released on Tuesday. The Mumbai-headquartered firm bagged the 22nd spot on the list that is led for the second consecutive year by Google parent company, Alphabet. Not only the 25th best employer, Larsen & Toubro was, also, previously 2ranked on Forbes' top regarded companies of 2018 and was ranked 471st on global 2000 companies of 2018. The technology, engineering & construction major has also been ranked 86th on Forbes' world's most innovative companies of 2018.
According to Forbes, the ranking is based on the feedback on the likelihood of an employee recommending his/her employer to a friend or family member.
Larsen & Toubro was founded by Henning Holck-Larsen and Soren Kristian Toubro in 1938 and is headquartered in Mumbai, India. Right now, it has an employee strength of 41,466 and is led by the Chief Executive Officer Sekharipuram Subrahmanyan. The company's market cap is around $28.9 billion and its assets are worth $32.7 billion.
As per the Forbes list, there are only four Indian companies in the top 100 list of best employers, with Mahindra & Mahindra at 55, Grasim Industries at 59 and HDFC at 91. The list includes total 24 Indian companies, including the state-run GIC Re ranked 106, tobacco major ITC at 108, state-run alloy major SAIL at 139, Sun Pharma at 172, Asian Paints at 179, and HDFC Bank at 183. At 201 is Adani Ports & Special Economic Zone, JSW Steel is placed at 207, at 253 is Kotak Mahindra Bank, Hero Motocorp is ranked 295, Tech Mahindra comes at 351, ICICI Bank at 359, Wipro at 362, Hindalco at 378, State Bank of India is ranked 381, Bajaj Auto at 417, Tata Motors scores 437, Power Finance Corporation is at 479, Axis Bank at 481 and the state-run Indian Overseas Bank is ranked at 489.
American technology giants, including Microsoft (number 2), Apple (3), Amazon (5), etc, account for six of the top 10 spots. Of the top 500 employers, 185 US companies are in the list, while 80 are on the list from China and Hong Kong, said Forbes. German companies are the second most represented in the top 10, with auto company Daimler at rank 7 and BMW at rank 10.
Forbes said that over 430,000 global recommendations were analyzed by Statista to create the World's Best Employers list. "This list is based on Forbes' 2018 global 2000 rankings, which includes publicly traded companies from 60 countries that together accounted for $39.1 trillion in sales, $3.2 trillion in profit, $189 trillion in assets and $56.8 trillion in market value," the magazine said.
With PTI inputs