Employers are the primary creators of different types of jobs in the global economy. It is the time when employers hire new workers, they are increasing the demand for new goods or we can say services. This in turn stimulates economic development.
No doubt employers are constantly investing in new technologies which help to drive growth. Also, they pay taxes to a government which uses the revenue to fund public services- education, healthcare and infrastructure.
Employers have a wide range of facilities to let individuals work under them and earn well. But likely individuals look to work with the ones that are reputed or listed among the top.
We are sure you will agree with us as we all look to work in a company that is established and reputed. But sometimes, we fail to determine them all. Hence, here we will help you to determine the Top 10 largest employers in the world, to know about contributing towards economy and most importantly their employees.
But before that do you know what is making them to be on top? Let us help you to determine all of those factors as well.
Why employers rank on top for a variety of reasons
There are several reasons why employers rank on top and let us look here to determine all of those.
- Reputation
Employer with a good reputation is more likely to attract and retain. This is reputation, which can be developed with a strong company culture, positive employee reviews and a commitment to social responsibility.
- Offer compensation and benefits
Employers that offer competitive salaries and benefits packages are more attractive to job seekers. This includes the base salary, bonuses, and health-paid time off. This is the major reason why many employers are listed on top as they make the best availabilities for their employees.
- Career development opportunities
Employees want to work for companies that offer them the opportunity. This includes providing training and development programs.
- Work-life balance
Employees are looking to join employers who are looking for them to manage their work-life balance. This is mainly the flexible work, reasonable workloads and even support for employees.
- Diversity
Several reasons make up the Top 10 largest employers in the world because they are committed to diversity. This mainly includes hiring and promoting employees from all backgrounds, and creating a workplace culture that feels respected and valued.
Several such benefits take charge to make employers rank on top. Along with this, we will also help you to determine the Top 10 largest employers in the world making the benefits for themselves and along with employees.
Top 10 largest employers in the world in 2023
Talking about the top 10 largest employers in the world (as of 2023) playing a significant role in the global economy. In addition, employs millions of people around the world.
1. Walmart (2.3 million employees)
Walmart is known as one of the largest employers in the world. The company is known to operate over 10,500 stores in around 24 countries. It has a variety of roles to offer like cashiers, stockers, truck drivers, and managers.
In addition, Walmart workforce is quite large is dependent upon number of factors: It has a massive size- that means the largest retailer and with a massive global presence.
The business model of Walmart is based on low prices and high volume. This means it requires a large workforce to operate its stores and supply chain.
Walmart employees play a vital role towards the growth of the company. They are responsible for stocking shelves, ringing up customers and offering the best customer support.
However, Walmart does look upon their employees with several benefits like insurance, retirement savings plans, and paid time off. Overall, it has been determined that Walmart will be one of the Top 10 largest employers in the world in 2023.
2. China Railway (2 million employees)
Talking of the top 10 employers in the world is China Railway. It is known as the state-owned enterprise responsible for managing, constructing and operating China’s vast railway track.
This track spans over 150,000km and serves as one of the crucial transportation backbones for the country’s economic development. The company’s workforce here reflects the sheer scale of the China railway system.
However, several reasons contributed to China’s railway becoming one of the top employers: the extensive workforce is the major contributor, China government’s heavy investment in railway departments and labor extensive operations.
The company’s employees contribute to the country’s productivity and economic output.
3. Ministry of Public Security, China (1.9 million employees)
The Ministry of Public Security is the national police force and also the primary law enforcement agency. It is among the top 10 largest employers in the world and has millions of employees.
However, the MPS is responsible for a wide range of law enforcement functions and this majorly includes crime prevention/investigations, public order and safety, border security, and even counterintelligence.
No doubt, China is one of the most populous countries in the world with over 1.4 billion people. In turn, this requires the large police force to maintain public order.
The Chinese communist party maintains tight control over the MPS and even other government agencies.
The MPS employees here are responsible for investigating and preventing crimes and responding to emergencies. However, like all other top employers, they do offer several perks to their employees and make them live a healthy working culture.
4. McDonald’s Corporation (1.9 million employees)
McDonald’s Corporation is determined to be the second largest private sector in the world. The company operates over 39,000 restaurants in over 100 countries.
Its employees work in a variety of roles can be cashiers, cooks, managers, and corporate staff. We all know the fact that McDonald’s corporation is the world’s largest restaurant chain with a global presence. Their business model is based on low prices and high volume. This means they require a larger workforce to run their operations.
This in turn makes it to be among the top 10 largest employers in the world.
5. UK National Health Service (NHS) (1.7 million employees)
Leading into the list of top employers makes up many stages and the combined efforts of employees as well. Likely next on the list of top 10 employers in the world is the UK National Health Service.
It is determined to be the fifth largest employer in the world. It is mainly responsible for offering free healthcare to all UK residents, and its employees and for a wide range of roles like doctors, nurses, midwives, pharmacists, and support staff.
Since the size of the UK population is around 67 million people. Here, the NHS is responsible for taking care of their health and related measures.
The range of NHS services are from primary care to specialized and they require a skilled workforce to take care of the requirements.
Here, the employees of NHS are responsible for offering quality healthcare services (to patients of all ages and backgrounds). In turn, the NHS remains to be one of the most popular and respected institutions in the UK.
6. China National Petroleum Corporation (CNPC) (1.6 million employees)
CNPC is a state-owned oil and gas company that is solely responsible for the exploration, production, refining, and distribution of oil and gas in China. It is the sixth-largest employer in the world and operates several international projects.
Since China is the world’s largest oil and gas consumer. It is responsible for meeting a significant portion of this demand.
The oil and gas industry is quite complex and technical. So, it requires a large workforce with a wide range of skills and experience. As we told above it operates an international project and requires a large workforce.
So, it hires a large group of individuals who will be responsible for taking charge in different sectors. Along with this apart from normal wages, CNPC offers other benefits that make employees stay connected with them for longer years and contribute to their success.
7. Indian Railways (1.58 million employees)
One of the vital lifeline of India that connects cities to cities and let people reach their required destinations with ease. It is also one of the largest railway networks in Asia and the second largest in the world after the United States.
It employs a large workforce to manage each department or sector and let everything work under control. This means right from maintaining tracks, trains and stations.
Hence to make everything smooth there is a need to acquire a team who are experts in their department and connect. In turn, Indian railways have thousands of employees who manage their work by coordinating with each other.
Also Read: Top 10 Staffing Companies in UK in 2023
8. Amazon.com, Inc. (1.5 million employees)
Another top 10 employer in the world is Amazon, Inc a global e-commerce company that offers cloud computing, streaming video, and artificial intelligence services.
It is determined to be eighth-largest employer in the world. However, to manage all these departments, Amazon has a large workforce and they excel in their roles and responsibilities.
But when we are talking about the largest employers then there are experts or workforce behind them. So, this is the case with Amazon because of its size and scale, business model and retail industry status.
Amazon has one of the best workforces that makes the company work smoothly and in hassle free manner. But in turn, the company has some of the tremendous benefits that let employees stay connected with them. Since, every individual like to work in a company that has flexibility and a good revenue stream.
So, this is the case with Amazon and this is making them lead within the industry.
9. State Grid Corporation of China (1.5 million employees)
The Ninth largest employer in the world is a state-owned electricity utility corporation. It is responsible for the transmission and distribution of electricity in China.
On the other hand, SGCC is also involved in the development and even construction of power grids. It has a large workforce and this is due to several factors like the size and scale of its operation. Since SGCC serves the world’s largest power grid (that is over 1.1 billion customers) and has several international projects as well.
SGCC employees have a vital role towards the development and operations which means right from design to maintenance. Hene, the workforce manages each operation/sector to let the state grid corporation of China work in a hassle-free manner.
10. Foxconn (1.3 million employees)
Foxconn is another top 10 largest employer in the world It is Taiwanese multinational electronics contract manufacturer. It has its headquarters in Tucheng, New Taipei City, Taiwan.
In turn, Foxconn is the world’s largest electronic manufacturing services company. It has also the largest workforce because there is a need to manage the larger size and scale of its operations.
The company has over 300 manufacturing sites and includes some of the world’s largest technology companies such as Apple, Google, and Microsoft.
Conclusion
The top 10 largest employers in the world (as mentioned above) are playing a significant role in the global economy. They are offering good jobs, livelihoods to millions of people and their families to survive around the world.
At some point in time, they do face some challenges in maintaining their workforce but they take charge to serve them the best along with additional benefits apart from their basic salary like insurance, safety and most importantly healthy work environment.
However, all of these factors let employers acquire the best workforce and make them rank on top in the world.
