95 ANNUAL REPORT 2022 STRATEGY & OUTLOOK PEOPLE REVIEW With the Group expanding rapidly into new business segments such as renewables and green technologies, we are constantly on the lookout for great talents with the right skillset, attitude and team players who can help us deliver on our commitments. With this in mind, we are digitalising our approach to recruitment and onboarding to ensure we have a platform that provides an excellent candidate experience and provides clarity to prospective new hires on the Yinson employment proposition. Additionally, we will focus on ensuring our hiring managers are equipped with the skills and competencies required to attract future employees to our business. Talent retention Attracting talent is a challenge but retaining talent can be even more challenging. Workforce demographics are constantly evolving based on variables such as job satisfaction, pay and remuneration package, organisation’s beliefs, values and stance on ESG matters. The rehiring process involves high cost and is a time-consuming process involving interviewing, onboarding, training and assimilation towards an internal culture – thus retention of value-adding employees is crucial. We want our talents to stay relevant with the current industry trends and be on the cutting-edge while being quick to adapt and thrive in challenging situations. We also desire for our people to be happy and able to perform work tasks at the highest level, stopping potential productivity losses and reducing operational costs. A happy workforce also equates to happy stakeholders as their engagement with us will be improved. To accomplish this, we need to have an effective and comprehensive retention strategy that encompasses all aspects of an employee’s career and wellbeing. These include greater emphasis on having a solid learning & development programme that includes reskilling and upskilling, helping them stay relevant and ahead of the competition. We aim to make our hybrid work model even more attractive, allowing greater flexibility for our people to pursue their personal and professional interests. Further, we will work on continually enhancing our DEI practises and organisational culture to help our people appreciate each other’s uniqueness and ability to contribute towards the same vision and mission. While opportunities to learn and progress in their career is in itself a powerful retention strategy, we are aware that this may also increase employability, leading to talent poaching. As such, we will strengthen our retention strategy by offering generous rewards & recognition and good employee benefits that reflect our appreciation for the value that they add to the company. CLOSING REMARKS The world has experienced the ‘great recession’ in the past; the pandemic recently brought about the ‘great reset’, and right now we are witnessing the ‘great resignation’. For the year ahead, I believe we are prepared for the ‘great adjustment’ where employees place more importance than ever on performing work where they feel appreciated, valued and supported, at a company that they trust. We are committed to continue creating an environment where our people can thrive and feel secure despite the labour market uncertainties. We envision a space where our people are proud to be a part of an amazing organisation with an exceptional organisational culture that is guided by our R.O.A.D.S. Core Values and where their needs can be fulfilled. We strive to maximise our people’s potential by equipping them with the necessary tools and provide a work environment that embodies security, respect, happiness and inclusiveness. Our end goal is to enable our employees to passionately deliver powerful solutions for our stakeholders, the markets where we operate and to help preserve our environment. We invite like-minded talents to join us in our mission to generate value, far into the future.
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