22 Environmental, Social and Governance Report 2022 PILLAR 1: HUMAN CENTRIC Career development We are committed to supporting the continuous growth and development of our employees. We focus on leadership development and formal training with mentoring and career coaching. Through establishing a structured performance review with target setting, we have formalised the annual assessment with the focus on employees’ development areas. Managers provide feedback to employees bi-annually on their performance and highlight areas for improvement. With ongoing coaching, employees have been better supported in achieving their performance goals and continuous development of their requisite competencies. Culture of active learning ESR has set up a dedicated Talent Management and Learning team within the Group HR function as an independent Centre of Excellence, designed to drive group-wide talent management and learning strategies. Training activities in our various offices entail both onsite and online training, including “Learning Bites” on topics covering business knowledge, well-being, inclusion, respect and teamwork. Additionally, we have rolled out compulsory training for all staff, which incorporates yearly anti-corruption and compliance education. The scope of the anti-corruption training covers topics relating to anti-bribery, prohibition of corruption and relevant laws, which is based on the online course on Thomson Reuters made available to all employees to complete on a mandatory basis. This will help employees recognise and mitigate the associated risks. As part of ESR’s performance management, we encourage employees to discuss and agree with their managers on suitable training programmes that will help upskill their professional and functional competencies. In addition, we regularly promote job related training opportunities, such as those pertaining to new regulations, external certification and safety-related courses. We also cover employee training expenses for professional memberships and examination fees required for their jobs, as well as for participation in external conferences to keep abreast with the latest industry developments. Other customised courses include leadership workshops incorporating personality assessment to help leaders gain better self-awareness and management enrichment courses comprising modules such as understanding of leadership styles, coaching and communication skills. These training programmes will form part of the training targets of 16 to 26 training hours annually for all staff in order to fulfil their individual development plan. People are Our Greatest Asset ESR has recently introduced customised development plans for future leaders identified during succession planning and which are aligned with the Group’s managerial/ leadership development programmes. Examples of these include specific assignment, secondments, role expansion, job rotation, mentorship, etc. On top of that, media and crisis management training are provided to new senior management staff who took up new roles. Total rewards strategy We believe that our human capital is critical to sustaining our long-term success. Our compensation philosophy, practices and principles play a significant role in our ability to attract, motivate and retain the highest quality management team and diverse workforce. To ensure that our compensation programmes are well balanced and effective at attracting, motivating and retaining the right talent, the Group engages external independent professional remuneration consultants to benchmark the company’s compensation packages against the relevant talent markets. Our total compensation comprises an appropriate mix of fixed pay (base salary) and variable pay in the form of cash incentives (which typically and on average, ranges between 20%- 40% of the total remuneration) and long-term, equity-based incentives. We adopt a pay-for-performance philosophy that drives accountability and rewards for superior performance, which aligns staff and shareholder interests to deliver business results. For senior level employees who can have the greatest impact on the bottom line, a significant portion of compensation is variable, and a meaningful portion of their total compensation is delivered annually in equity awards subject to multi-year vesting to strengthen talent retention as well as the alignment with shareholder interests. To ensure that our talent attraction and retention strategy is competitive and aligned with market practice, sign-on or retention packages may be offered on a case-by-case basis. Appropriate terms including performance conditions, time-vesting, and the fulfilment of a certain minimum length of service with the Company may be applied to such sign-on or retention packages. Individual staff performance is reviewed annually through our annual performance review where there is an open discussion on the staff’s performance, developmental needs and career plans. Beyond mandatory requirements in local employment law, our local offices offer a range of benefits from paid vacation, medical and family leave, insurance and retirement saving schemes.
RkJQdWJsaXNoZXIy MTIwODcxMw==