Why is this important? May be wrongly perceived as preferential treatment or discrimination, leading to loss of morale and teamwork within an organisation, and may also lead to the damage of the Bank’s reputation and image, as well as potential legal liabilities. May result in unintentional perpetuation of existing inequalities and the marginalisation of underrepresented groups. Risks Prioritise DEI through a comprehensive policy ensuring equal opportunities and fair treatment, regardless of background. Employ meritocracy in recruitment, retention, and promotions to ensure that talent and performance are the primary criteria, while simultaneously fostering a safe and inclusive environment. Invest in employee development through initiatives like coaching, upskilling, and family-friendly policies solidifies Bank Islam’s position as a progressive and inclusive organisation. Our Approach Having a diverse ideas, experiences and perspectives promote a culture of creativity and innovation, and a team from different background and identities are more effective at solving complex problems and making informed decisions. Diversity and inclusivity strengthen the employees’ level of engagement and productivity, fostering a socially-responsible employee and driving the Bank’s performance. Opportunities Embracing diversity and inclusion is critical as it strengthens decision-making and helps us realise our full potential as a purpose-driven financial institution. This, in turn, enables us to navigate the complexities of the financial sector, meet varied client needs, and reinforce our position as a dynamic and forward-looking financial leader. Business Context DIVERSITY AND INCLUSION For more information on Diversity and Inclusion, please see pages 138-143. Why is this important? Perceived gaps in the necessary skills and knowledge may lead to skills mismatch or may not align to job requirements, which may be exacerbated by lack of engagement with the employees’ especially on the sustainabilityrelated matters. Risks Implement a Leadership Competency Model to facilitate effective succession planning, especially for critical senior positions such as the GCEO. Launch broader initiatives to ensure leadership continuity and alignment with strategic goals, emphasising the importance of long-term leadership stability. Demonstrate a commitment to sustainability by developing a comprehensive Sustainability Learning Framework for workforce education in sustainable banking, thereby integrating sustainability into daily operations and fostering a culture of responsibility. Our Approach Focus on reevaluating the necessary knowledge, skills, abilities, and characteristics of current roles and revise the criteria for future roles. Explore collaboration with key stakeholders in the talent ecosystem to acquire and develop the talent and skill sets required by the Group. Opportunities Investing in talent and development is essential because it enables us to stay competitive in a changing financial environment, ensuring our readiness to deliver stakeholder value, while also preparing our workforce for future challenges, fostering agility, resilience, and purposefulness. Business Context TALENT AND DEVELOPMENT For more information on Talent and Development, please see pages 130-138. 52 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023 Material Matters
RkJQdWJsaXNoZXIy NDgzMzc=