61 SECTION 3 VALUE CREATION INTEGRATED ANNUAL REPORT 2025 The risk to operational delivery and future growth arising from challenges in attracting and retaining the specialised talent required to execute our global strategy. PEOPLE RISK 6 Medium i. Global Technical Shortage: Intense competition for specialised engineering and digital skill sets, which may impact project timelines and operational efficiency. ii. Sector Perception and Talent Attraction: Ongoing challenges in attracting early-career talent due to shifting societal perceptions of the traditional energy industry. iii. Regional Talent Constraints: Increasing regulatory restrictions on the mobility of foreign experts, coupled with tightening local-content requirements in key operating jurisdictions. iv. Geopolitical Disruption: Heightened geopolitical volatility may affect talent mobility and operational delivery. 2025 Mitigation & Performance: Building the Foundation In 2025, Wasco focused on strengthening our talent base through targeted development and operational excellence. Key initiatives include: i. Segmented Development: We launched our first talent development programme in February 2025 called the Talent Development Modular Programme (“TDMP”) for the Engineering & Fabrication Division. We continue to provide employees with skills and competency development opportunities through job rotations (intra- and inter-departmental), stretch assignments, and participation in high-profile projects. ii. Strategic Talent Inflow: We continue with our New Graduate Programmes in both Batam and India, ensuring a sustainable pipeline of emerging talent. iii. Capability and Inclusion: The launch of our WiL series has successfully equipped nominated female talents with greater self-awareness and confidence, empowering them to lead with impact and achieve meaningful personal and professional growth. iv. Knowledge Sharing and International Exposure: We leveraged deep technical expertise across Wasco’s global sites, promoting internal mobility and providing diverse career development opportunities. v. Competitive and Fair Remuneration: We conduct regular remuneration benchmarking to ensure we remain competitive across our operations. Risk Trends and Impacts Mitigation Measures • Operational Delivery: Increased pressure on project schedules and longer recruitment lead times for specialised technical roles. • Succession Gaps: A narrowing pipeline of ‘ReadyNow’ internal candidates for critical leadership and senior technical positions. • Talent Discontinuity: An elevated risk of losing institutional knowledge due to an ageing workforce and challenges in transferring expertise to the next generation of professionals. These foundational efforts yielded measurable business impact: • 28% improvement in employee turnover: Fostering a more resilient workforce and supporting a proactive organisational culture. • 27% increase in training hours: Driven by a rigorous focus on operational safety and the expansion of technical and leadership development programmes. Impact on the Organisation 2025 Impact Results KEY RISK & MITIGATION
RkJQdWJsaXNoZXIy NDgzMzc=