149 GOVERNANCE Who are they? The personnel who work onboard our FPSOs and OSVs, which include both permanent and contractual workers. Yinson’s value proposition • Stringent HSE programmes to protect the wellbeing of our people. • Inclusive, fair, and equal employment opportunities and work packages. Fair compensation We have collective bargaining agreements in place for our crew to ensure their rights are respected and they are compensated fairly by undertaking benchmarking activity in the markets in which we operate. Fair treatment in accordance with internationally-recognised principles of HLR. We have a strong commitment to DEI as reflected in our HLR Policy. We actively implement Group-wide measures to prevent and remedy violations of HLR. We believe that diversity is our strength and it helps us to excel on a global playing field. Operational safety The safety and wellbeing of our crew is our upmost priority onboard as we continue to maintain industry-leading safety performance every year. We have a strong HSE governance framework covering HSE policies, HSE management systems, training programmes, competency models, internal audits, emergency response plans and HSE operationalisation programmes. Key areas of concern & Yinson’s response Stakeholder importance We rely on the crew’s skills and performance for ongoing operations and success of our offshore assets. Frequency and methods of engagement • Daily: YNet, on-the-job learning and communication. • Regularly: Crew activities, training and development programmes, SAYFR, management visits, inspections. • Monthly: Shipboard safety meetings. • Quarterly: Group-wide town halls. S3 CREW Flexible working arrangements We issued our Yinson Future of Work Philosophy in 2021 to provide our leaders, teams and employees richness of choice, flexibility and autonomy to deliver value across the organisation. The philosophy leverages on our learnings through the Covid-19 crisis and reaffirms Yinson’s commitment in supporting a hybrid working model in all our offices. Career progression Yinson implemented a new performance management module in our Global HRIS that incorporates better performance cycle timelines, simplifies processes and focuses on continuous performance and continuous feedback conversations throughout the year. We also adhere to our Group Learning & Development Policy & Procedure and continued building a learning culture through our LMS and L.E.A.D. courses. Fair compensation We rolled out our Total Rewards Strategy programme in 2022, which conducted an external benchmarking exercise across the organisation to formulate a Group-wide Total Rewards Policy that ensures fair and equitable compensation to our employees. ‘Fair treatment in accordance with internationally-recognised principles of HLR’ is a key area of concern for employees, and a shared area of concern with our crew. Please see the ‘Crew’ section for Yinson’s response. EMPLOYEES Who are they? Our employees refer to the personnel who work on our onshore offices and are expected to carry out duties and responsibilities to meet our stakeholder commitments. Yinson’s value proposition • Inclusive, fair, and equal employment opportunities. • Attractive and competitive work packages for mutual value creation. • Strong prospects for career growth and learning opportunities. • Flexible working arrangements for work-life balance. Key areas of concern & Yinson’s response Stakeholder importance We rely on our skilled and high performing workforce to drive value creation and execute our business strategy and growth. Frequency and methods of engagement • Daily: YNet, on-the-job learning and communication. • Regularly: Office-wide town halls, focused small group engagement discsussions, continuous performance & feedback, employee activities. • Quarterly: Group-wide town halls. • Biannual: Employee performance review. • Based on need: Focus groups, pulse surveys, family-friendly offices and activities, training and development programmes, Culture and Values workshops. S4 CORPORATE GOVERNANCE OVERVIEW STATEMENT
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