43 INTEGRATED ANNUAL REPORT 2024 Overview of Wasco Berhad Key Messages Value Creation Commitment to Governance Sustainability Journey Financial Statements Other Information KEY RISK AND MITIGATION STRATEGIES TALENT The risk of difficulties in attracting, developing, and retaining skilled talent. Risk Definition • Talent perception of the Group’s business as having a negative environmental impact. • Compensation and benefits that may not be competitive within the industry. • Insufficient resources to effectively meet work requirements and deadlines. • Difficulties in developing and implementing a robust succession plan. Risk Trends and Impacts Potential Impact to the Group Existing Controls • Diversification of the Group’s services into sectors contributing to a cleaner environment, particularly renewables, such as wind and solar. Proposed Action Plans • Implement a new group strategy focused on green energy and sustainability. • Intensify efforts to secure more projects in the green energy sector. • Establish talent management programmes for high-potential employees. • Enhance learning and development programmes to upskill the workforce. • Benchmark remuneration packages against industry standards to ensure competitiveness. • A talent management development programme has been implemented in the Engineering and Fabrication Division, with the first cohort undergoing a structured modular programme designed to equip participants with essential skills, fostering both personal growth and business success. • Learning and development initiatives have been significantly expanded across all Wasco sites, increasing the average training hours per employee from 14.00 in FY2023 to 19.68 in FY2024. • Internship programmes serve as a strategic pathway to attract young graduates into the industry. Exceptional candidates who align with Wasco’s culture and business needs are offered full-time roles. • Remuneration benchmarking is conducted using market data to ensure competitiveness. As a result of these initiatives, the Group’s voluntary turnover rate has improved, reducing from 11.0% in FY2023 to 9.3% in FY2024. Mitigation Measures Results of Mitigation Measures High
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