WASCO BERHAD 30 VALUE CREATION MODEL Trade-Offs Expanding workforce vs. maintaining productivity: As we grow our talent pool to support business expansion, it is essential to balance cost efficiency considerations with productivity by investing in targeted upskilling and capability development programmes. Retaining experienced talent vs. attracting new skills: Retaining seasoned talent while attracting next-generation expertise requires a competitive and sustainable compensation strategy that aligns with both market dynamics and long-term financial resilience. H HUMAN CAPITAL Achievements • Employee Turnover Rate: In 2024, Wasco recorded an overall voluntary turnover rate of 9.3% during the year, an improvement from 11.0% in 2023. • Employee Development: Provided an average of 19.68 training hours per employee, reinforcing our commitment to continuous learning and skills enhancement. • Health and Safety: Strengthened health and safety protocols across our operations, achieving zero fatalities and a LTIR of 0.05, significantly outperforming the industry average of 0.24 - a testament to our prioritisation of employee well-being. • Succession Planning: Proactively identified key leadership positions and potential successors, ensuring business continuity and building a robust leadership pipeline. 2024 Focus • Broaden training programmes in pipeline coating, EPC and bioenergy solutions to strengthen technical capabilities and support business growth. • Advance leadership succession planning to build a resilient talent pipeline and future-proof our workforce for long-term success. Our Approach Wasco’s workforce is the cornerstone of our success. Across our operations, we prioritise technical excellence, leadership development, and a strong culture of safety, innovation, and continuous improvement.
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