HONG KONG and SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318) climbed 29 spots to 318th on Forbes World's Best Employers 2024 list. It ranked #2 among China's financial companies, building on its leadership in areas such as work environment, compensation and benefits, and career development opportunities.
The World's Best Employers 2024 list is compiled from anonymous surveys of approximately 300,000 full-time and contract employees at multinational companies in 50 countries and features 850 companies globally this year. Ping An ranked 17th among all China companies in the survey.
Ping An attracts first-class professionals from China and around the world. As of the end of 2023, Ping An had over 635,000 employees and agents, or one in every 2,000 China residents. Ping An continuously enriches and refines its talent standards through its independently developed 8Q+TEL competence assessment model. It assesses performance based on business results, competencies, and development potential, so Ping An can select and develop high-quality talent in a scientific manner.
Ping An also encourages employees to engage in self-learning to enhance their skills. Ping An supports the learning and development needs of employees at all levels by continuing to enrich its training resources and intelligent learning platforms. In 2023, employees received an average of 45.1 hours of training. In the first half of 2024, Ping An implemented an innovation "learning credit" system to link employees' learning outcomes with their career development through its proprietary learning system.
In terms of compensation and benefits, Ping An upholds the principle of fair, equitable and transparent remuneration, to provide competitive remuneration to employees. It also provides benefits including commercial insurance, high-end health insurance, annuity, regular health checkups and an Employee Assistance Program (EAP). In addition, Ping An has a long-term incentive and retention mechanism: in 2023, over 103,000 employees, 36% of the total, participated in the key employee stock ownership plan and long-term service plans.
For the protection of employees' rights and interests, Ping An has formulated "Statement on Employee Rights of Ping An Group", confirming its commitment to state regulations and policies and local governments' requirements. It also has set up anti-discrimination rules to prohibit unequal treatment in terms of hiring, onboarding, training, promotion and awards. Ping An protects the physical and mental health of employees and offers a variety of complaint and feedback channels and labor unions. Ping An proactively protects employees' rights to create a fair, equitable, harmonious, and healthy working atmosphere. In the 2023 employee satisfaction survey, Ping An received an overall satisfaction score of 87/100.
Ping An will continue to uphold its "people-centered" development principle as it strives to increase employee satisfaction with the company by focusing on employee feedback, employee service quality, an optimal recruitment experience, digital training, and learning platform development. By doing so, Ping An will create sustainable long-term growth value for employees, customers, shareholders and society.
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