LABOUR STANDARDS AND PRACTICES Employees are the backbone of BIMB, and it is our corporate duty to take care of their best interests. This starts with ensuring fair remuneration, which is essential in promoting social justice and reducing income inequality. It ensures that employees are compensated adequately for their work, which fosters a sense of loyalty, commitment and dedication to the organisation. Work-life balance is another critical aspect of labour standards and practices that contributes to the sustainability of BIMB. A healthy work-life balance promotes the well-being of employees, reduces burnout, and leads to a more engaged and productive workforce. Employee growth is fostered through empowering and encouraging mutual trust and accountability across all job levels, being clear with expectations from top down to bottom up, practicing clear, concise, regular communication with virtual check-ins, establishing policies and providing infrastructure to support work flexibility, and creating time for team building through non-work interactions such as virtual hangouts and various work-life harmony activities. A fair and effective system of remuneration and employee benefits not only increases the quality of performance but also enhances employee retention, ultimately leading to our competitiveness as both a business and an employer. By offering a range of remuneration packages and employee benefits, we aim to drive a high-performance culture within the organisation. Staff who feel valued and well-compensated are highly motivated to work, leading to increased job satisfaction and morale. In turn, this positively impacts staff retention, allowing us to keep our highly skilled and experienced workforce. Ultimately, our commitment to fair and competitive remuneration and employee benefits demonstrates our dedication to attracting and retaining top talent, which is critical to our ongoing success. Progress in 2022 1 Fair Remuneration & Benefits In 2022, we continued to offer a fair and competitive remuneration package to our employees. To ensure fairness in compensation across our workforce, our management board diligently assessed each employee’s performance, experience, skills, and job requirements. In addition, we maintained a comprehensive package of perks, such as competitive salaries, ample vacation time, flexible working arrangements, and exclusive discounts on our products and services. We also provide special benefits to permanent employees compared to temporary employees, such as minimum and maximum salaries, annual increments, bonuses, medical benefits and leave entitlements. We believe in taking good care of our people and ensuring that they are rewarded for their hard work and contributions to the company. We conducted an annual review of salary upon completion of the yearly appraisal, and our employees were granted a discretionary bonus based on their performance for the year. Additionally, we have taken a pre-emptive review approach towards a certain group of employees who possess scarce talent, are high-performing, and pose a flight risk as part of our retention strategy. In 2022, we did not impose a specific limit on bonuses as a percentage of base salary for senior executives and other highly paid staff included in the company’s remuneration disclosures. Variable executive remuneration accounts for 37.3% of total compensation. Bonuses are restricted to 71.7% of executive salaries. Bonuses are restricted to 69.5% of salaries for other high-paid staff. 2022 Performance: Sustainability Statement Bank Islam Malaysia Berhad 125 01 05 03 07 02 06 09 04 08 Social Impact
RkJQdWJsaXNoZXIy NDgzMzc=