…Ernst & Young, MTN and Sterling Bank Makes Top 3
Studies have shown, companies that embraced a shared commitment to both individual and company success and a healthy work-life balance have proven to be more productive, improve retention rates and ultimately increase their profits.
As a result, the professional networking platform, LinkedIn has released a list of 25 best companies to work in Nigeria for the year 2023.
These best companies were ranked based on 8 criteria set by LinkedIn using available data on the platform.
According to LinkedIn, these 25 best companies offer their employees the right environment to grow their careers.
LinkedIn said the methodology looks at components like how employees are advancing both within a company and when they leave, how they’re upskilling while employed there, and more, which reveal companies that help set people up to get ahead in their careers.
To arrive at the list for 25 best companies, LinkedIn said it also considered factors like attrition and layoffs.
“Companies that have laid off 10% or more of their workforce between Jan.1, 2022, and the list launch, based on public announcements — or that have attrition greater than 10%, based on LinkedIn data — are ineligible to rank,” it said.
Here are the top 25 best companies to work in Nigeria in 2023.
EY (Ernst & Young)
EY (Ernst & Young) is an international professional services organization providing audit, tax, advising, and transaction services to clients in more than 150 countries. Since its inception in 1989, the company has grown to over 700 branches and ranks as one of the Big Four global accounting firms.
MTN is a telecommunications company that provides mobile and fixed-line phone services, as well as internet and digital services to customers. MTN Nigeria is one of the operating units of MTN Group, which has operations in more than 21 countries in Africa and the Middle East.
Sterling Bank Plc
Sterling Bank is a financial institution that offers a wide range of banking services, including consumer and investment banking, trade finance, and capital market activities. The bank also provides wholesale banking services to its customers.
Interswitch Group is an integrated payment and digital commerce platform operating across 23 countries in Africa. The company offers a range of products and services, including payment processing, card services, and digital commerce solutions. Interswitch Group is the parent company of Verve and others.
First Bank of Nigeria
First Bank of Nigeria is the oldest commercial bank in Nigeria dating back to 1894. The bank offers a wide range of financial products and services to individuals, businesses, and government institutions, including retail and corporate banking, treasury, and international banking. First Bank is the parent company of First Pension Custodian Nigeria Ltd. and others.
Standard Chartered Bank
Standard Chartered Bank has been operating in banking for more than 150 years. The company offers a range of financial products and services, including corporate and retail banking, wealth management, and investment banking.
The Nigerian National Petroleum Commission (NNPC) is responsible for the management and operation of the country’s oil and gas resources with a focus on sustainable development.
Eko Electricity Distribution
Eko Electricity Distribution is one of the power distribution companies in Lagos. The company specializes in delivering electricity solutions to businesses operating in the commercial and industrial sectors, as well as to government agencies.
British American Tobacco (BAT)
Headquartered in England, British American Tobacco (BAT) is a multinational tobacco company that manufactures and sells cigarettes, tobacco, and other nicotine products. The company is now shifting towards next-generation products, including e-cigarettes and heated tobacco.
Ikeja Electric is an electricity distribution company in Nigeria, servicing over 1 million customers across the Lagos metropolis. The company provides electricity supply to both residential and commercial customers.
Nestlé is a food and beverage company that manufactures and distributes a wide variety of products, including baby food, bottled water, breakfast cereals, coffee, tea, confectionery, dairy products, ice cream, and frozen foods.
ExxonMobil is a producer of crude oil and natural gas and is also involved in the production of petrochemicals and other specialty products. The US-based multinational operates in more than 50 countries worldwide.
Anheuser-Busch InBev, or AB InBev, is a multinational drinks conglomerate headquartered in Belgium. They produce and distribute a wide range of beer and other alcoholic beverages across the world with a portfolio of popular brands including Budweiser and Corona. The company is also the parent company of Nigeria’s International Breweries Pl, which produces Trophy, Hero, and Budweiser beer brands.
United Bank for Africa (UBA) is a Pan-African financial institution that provides a range of financial products and services to individuals, small and medium-sized enterprises, and corporate clients. They also have a mobile banking app, which enables customers to carry out a range of transactions on their mobile devices.
IHS Towers is an independent mobile telecommunications infrastructure provider that builds, manages, and maintains telecommunications towers. This enables mobile network operators to expand their coverage and improve the quality of their services.
SLB, formerly known as Schlumberger, is a company that specializes in providing technology for the production, drilling, and processing of oil and gas to the oil and gas industry. The company serves a diverse customer base that includes national and international oil companies, as well as independent operators.
Halliburton is a leader in providing products and services to the energy industry, with operations in more than 70 countries serving a diverse customer base of national and independent oil companies, as well as industrial and government clients. They provide services such as well testing, drilling, cementing, and more.
Founded in 1907, Shell is a multinational corporation that operates in the energy industry. They explore for and extract natural resources like oil and gas, and refine these resources into various products, including fuel for transportation and energy for homes and businesses.
TotalEnergies is a global energy firm that specializes in the production and sale of various sources of energy such as biofuels, oil, green gases, natural gas, and electricity. In addition, the corporation is investing in alternative energy sources like solar and wind power.
Tropical General Investments (TGI) Group
Tropical General Investments (TGI) Group is a company that operates in different industries such as fast-moving consumer goods, agriculture, and energy. TGI’s FMCG subsidiary, TGI Distri, is a leading distributor of food and household products in Nigeria, serving over 100,000 retail outlets.
Konga is a Nigerian e-commerce company that offers a wide range of products, including electronics, fashion, beauty and personal care, home and kitchen appliances, and more.
Huawei is a Chinese-based, multinational technology company specializing in telecommunications equipment and consumer electronics. They produce a range of products including smartphones, laptops, tablets, smartwatches, and home devices. They also provide services such as cloud computing and digital transformation solutions for businesses.
Wema Bank is a Nigerian commercial bank that provides a wide range of banking products and services to individuals, SMEs, and large corporations. The bank offers personal and business accounts, loans, investment products, and digital banking services like mobile banking, internet banking, and USSD banking.
Deutsche Post DHL Group
Deutsche Post DHL Group – known as DHL – offers a comprehensive range of local and international parcel and express services, freight transport, and supply chain management services.
9mobile is a telecommunications operator that provides call and data services to customers across Nigeria.
LinkedIn said it used data on the platform to rank the companies based on eight pillars that have been shown to lead to career progression, which: Ability to advance; skills growth; company stability; external opportunity; company affinity; gender diversity; educational background, and employee presence in the country.
“Ability to advance tracks employee promotions within a company and when they move to a new company, based on standardized job titles. Skills growth looks at how employees across the company are gaining skills while employed at the company, using standardized LinkedIn skills.
“Company stability tracks attrition over the past year, as well as the percentage of employees that stay at the company for at least three years. External opportunity looks at Recruiter outreach across employees at the company, signaling demand for workers coming from these companies.
“Company affinity, which seeks to measure how supportive a company’s culture is, looks at connection volume on LinkedIn among employees, controlled for company size. Gender diversity measures gender parity within a company and its subsidiaries.
“Finally, educational background examines the variety of educational attainment among employees, from no degree up to Ph.D. levels, reflecting a commitment to recruiting a wide range of professionals, while employee presence in the country looks at the company’s number of employees in the country relative to other companies, as a means of capturing companies that provide a diverse work environment and more opportunities for career advancement and networking,” LinkedIn explained.
To be eligible, LinkedIn said companies must have had at least 500 employees as of Dec. 31, 2022, in the country and attrition can be no higher than 10% over the methodology time period, based on LinkedIn data.