Yinson Annual Report 2021

117 ANNUAL REPORT 2021 HUMAN CAPITAL t 5IF ':& TVSWFZ BJNFE UP VOEFSTUBOE BOZ NPWFNFOU JO UIF GBDUPST UIBU JOGPSN FNQMPZFF FOHBHFNFOU BOE FOBCMF Yinson to address employee feedback. t "DIJFWFE PWFSBMM FOHBHFNFOU TDPSF VQ GSPN UIF ':& TVSWFZ t 0WFSBMM FOHBHFNFOU TDPSF GPS :JOTPO JT TJNJMBS UP JOEVTUSZ OPSNT t "DIJFWFE DPNQMFUJPO SBUF BDSPTT BMM PGmDFT t &OHBHFNFOU 'PDVT "SFBT BSF 5BMFOU 4UBGmOH 1FSGPSNBODF .BOBHFNFOU 3FXBSE 3FDPHOJUJPO #SBOE BOE 8PSL -JGF Balance. t 'PDVT (SPVQT XJMM CF IFME JO ':& UP HBJO FNQMPZFF GFFECBDL "SFBT PG GPDVT BOE BDUJPOT XJMM CF EFWFMPQFE BOE integrated into initiatives under the HR Transformation Plan. Attrition rates Country FYE 2019 FYE 2020 FYE 2021 Malaysia 21.8% 23.5% 19.0% Brazil 0.0% 0.0% 0.0% Ghana 0.9% 0.9% 0.0% Netherlands 0.0% 0.0% 13.0% Nigeria 0.0% 9.1% 0.0% Norway 0.6% 0.4% 0.0% Singapore 1.1% 7.6% 7.1% United Kingdom 0.0% 0.0% 0.0% * An error was found in the calculation of the Malaysia attrition rate for FYE 2019 and FYE 2020, these have been corrected in the above chart. Attrition rates have a high variance for offices with lower employee numbers, such as our Nigeria and Netherlands offices. t (SPVQ XJEF BUUSJUJPO SBUF JNQSPWFE GSPN UP during FYE 2021. t :JOTPO BJNT UP NBJOUBJO MPX BUUSJUJPO SBUFT CZ QSPWJEJOH employee-driven solutions that are relevant, add value and enable our people to succeed. t 5IJT XJMM CF BDIJFWFE UISPVHI (SPVQ JOJUJBUJWFT BT XFMM as locally driven activities. This chapter of the Report elaborates on these initiatives. Total Rewards Strategy Project During FYE 2021 we launched a programme of work to review our current approach to rewards across the business. This project will continue through FYE 2022 and has the following objectives: t 'PSNVMBUF (SPVQ XJEF UPUBM SFXBSET QIJMPTPQIZ t %FWFMPQ NFUIPEPMPHZ GPS FYUFSOBM DPNQFOTBUJPO benchmarking. t $POEVDU FYUFSOBM DPNQFOTBUJPO CFODINBSLJOH FYFSDJTF across the organisation. t (FOFSBUF QBZ BOBMZTJT BOE EFWFMPQ BO BDUJPO QMBO GPS equal/ equitable pay based on the findings. t *OUSPEVDF B NFUIPEPMPHZ GPS KPC FWBMVBUJPO t %FWFMPQ B HMPCBM KPC HSBEJOH GSBNFXPSL t 3FWJFX BQQSPBDI CFUXFFO BDIJFWFNFOU PG DPNQBOZ strategy and goals with reward. Succession planning During FYE 2021 our approach to succession planning was reviewed, following which Yinson identified the key aims and objectives which will commence during FYE 2022. These are: t 5P FOTVSF UIF (SPVQ JT QSFQBSFE XJUI B UBMFOU QPPM XJUI capabilities to fulfill leadership roles and responsibilities. t 5P SBJTF FYUFSOBM BXBSFOFTT UIBU :JOTPO JOWFTUT JO QFPQMF development and advancement. t 5P JEFOUJGZ BOE EFWFMPQ UIF SFRVJSFE DPNQFUFODZ capabilities through planned and intentional learning, and development initiatives. t 5P SFWJFX BOE JEFOUJGZ GVUVSF BTTFTTNFOU QSPDFEVSFT UIBU will be implemented across the Group.