Generational diversity drives SM’s success, market dominance

SM Malls attract people, but have you ever wondered why?

Is it because SM Malls are everywhere? There is one in every city, even two or more in some cases, and at least one in every province, except for a few. But then the competition is also there, in the same vicinity, sometimes just across the street.

No, it is not SM’s ubiquitous presence. It is the fact that SM reflects every taste, every perspective, every preference.

How does the country’s largest chain of malls do it?

Peel off the layers of SM’s success and you’ll find youthful innovation and exuberance at play, with those in senior management roles providing the wisdom and experience to keep everyone’s feet firmly planted on the ground.

At the SM Investments Corporation, the holding company that by the way includes not only SM Supermalls but also Banco de Oro and China Bank Corporation, and SM Development Corporation, generational diversity is a strength.

The millennials and Gen X, those between 30-50 years old, make up 47 percent of the workforce or over 142,000 employees. The younger Gen Z, those below 30 years old, account for another 47 percent. Finally, the Baby Boomers, those 50 years old and above, are hanging on at 6 percent.

“People are the foundation of SM’s growth,” says Elizabeth Anne “Lizanne” Uychaco, executive vice president and group diversity officer of SM Investrments. “That’s why we foster a culture of inclusion and belonging at all levels of the organization.”

A signatory to and has been a member of the UN Women’s Empowerment Principles (WEPs) since 2022, SM upholds merit-based advancement and equal opportunity policy for women.

It’s a small wonder why at SM women comprise 64 percent of the total workforce and 58 percent of senior leadership roles.

The commitment to diversity and inclusion is not confined in the corporate hierarchy.

For the convenience of the mall going public, SM has established 814 breastfeeding rooms for nursing mothers, 787 pathways for people with disability, 171 gender-neutral washrooms, and 19 non-denominational meditation rooms.

“At SM, inclusion is more than an abstract principle—it is a commitment expressed in deeds,” Ms. Uychaco explains. “We empower people from all backgrounds and generations.”