Delivering Sustainable Value For Our Stakeholders Delivering Sustainable Value For Our Stakeholders Press Metal Aluminium Holdings Berhad 170 171 Integrated Annual Report 2023 These strategies are supported by a systematic succession pathway – a blueprint that encompasses seven (7) key stages: Critical Role Identification 1 Building Job Profiles & Role Clarification 2 Successor Identification & Assessment 3 Successor Profile & Placement 4 Talent Engagement & Mindset Readiness 5 Succession Pipeline Development 6 Evaluation & Improvement 7 As we chart the course for the future, our focus remains on developing successors using our proprietary PICE© model. By leveraging the PICE© Successor Development Framework, which emphasises 70% On-the-Job Experiences, 20% Social Interactions, and 10% Competencies-based Training, we aim to create agile and forward-thinking leaders poised to navigate the complexities of the ever-evolving business landscape. Empowering Our People and Enriching Our Communities Competency-Based Evaluation & Mapping: Establishing a competencies framework with tailored ratings for job roles and grades, facilitating the rigorous assessment of competencies through skill gap analyses and comparing expected ratings with employee evaluations. Gaps are addressed via collaborative discussions between employees, their supervisors and the HR Department, and personalised action plans are developed to identify areas for talent growth and enhancement. Comprehensive Leadership Assessment & Development: Nurturing leadership excellence internally through the SMOL©, a tool used to assess: Self-awareness (S), Motivation (M), Orientation (O), and Leadership (L) capabilities. This assessment combines psychometric exercises, refined over years of global talent management experience, providing insights for targeted development initiatives. Grounded in the PICE© Successor Development Framework and bolstered by dual mentorship and coaching, our leadership development strategy identifies tailored programmes to groom successors, fortifying organisational resilience and continuity through seamless role transitions. 3Re (Retention, Reward and Recognition) Total Compensation Strategy: Crafting talent retention strategies and career advancement opportunities, offering competitive compensation packages and instituting an employee recognition programme to incentivise high performance. In addition to the framework, we utilise the internationally recognised and applied ICEBERG model to further improve our succession planning outcomes. Looking beyond the visible competencies of skills and knowledge, ICEBERG model seeks to uncover more fundamental attributes that influence an employee’s ability to succeed in a role. Using the model, we are developing detailed job profiles for critical roles that cover not only qualifications and skills but also the ideal employee’s mindset, values and other areas of alignment with our ethos as an organisation. This will help to ensure that successors are identified and nurtured in an objective manner, with a clear and holistic vision of the kind of people who will lead the Group in the future. Promoting Work-Life Balance Work-life balance is an important component of employee satisfaction, productivity and, ultimately, retention. To this end, our Sarawak operations have established a Sports, Welfare, Recreational & Culture ("SWRC") Committee to coordinate regular recreational activities and programmes, and we have teams across our other entities that focus on supporting and overseeing employee engagement activities. We actively encourage staff participation in the activities, which serve as opportunities for relaxation and social interaction as well as a chance to develop closer bonds across teams. We also organise family-oriented events to which our employees’ family members are invited to join. In FYE2023, Corporate HR department launched an employee CARE model, called Connect Authentic Recognition Engage, aiming to achieve work engagement, team engagement and organisational engagement. Empowering Our People and Enriching Our Communities Promoting Open and Transparent Communication We are committed to minimising any potential adverse impacts relating to our employees that may arise. Where significant organisational or operational changes do occur, we will be conducting thorough risk assessments and providing prior notice of such changes to our employees at least one (1) month in advance. Simultaneously, we recognise the importance of having our employees feel valued and have an avenue to register complaints or provide feedback pertaining to their employment. To facilitate this, we have established a direct line of communication between all employees and their elected worker representatives through which they may express any concerns they have. As per our CoC, employees may register such concerns without fear of reprisal, thus fostering an environment that encourages the open airing of views and collaborative action towards improvement. In addition to the grievance mechanism, we engage in transparent discussions with our employees through various channels including town halls and employee representative meetings, facilitated by the HR departments, enabling employees to provide their input on workplace issues. Likewise, our Sarawak operations host monthly employee representative meetings which will be attended by all employee representatives, including foreign staff. During these sessions, any issues raised are promptly addressed by Management Representative, as our effort to promoting a supportive work environment for all. To ensure a holistic and well-rounded assessment of the training programmes, we gather feedback at two (2) levels: • Participant assessments: Training Evaluation Feedback Form completed by employee upon the completion of the training • Supervisory evaluation: A Post-Superior Evaluation Form is filled up by the employee’s supervisor Building a Pipeline of Future Leaders Press Metal Succession Planning Framework was established at the corporate-level in FYE2023 to foster the growth of highpotential and high-performing employees equipped with the right competencies, culture and compatibility. This framework serves as the cornerstone of our commitment to organisational resilience and continuity. At its core, the framework identifies several strategic initiatives to fuel talent dynamism for future leadership: Paintball Friendly Tournament in PMBtu
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