MISC Integrated Annual Report 2020

HUMAN CAPITAL VALUE CREATION We believe that our employees are the driving force behind our success, leaving lasting impressions through the connections they make. We therefore strive, at all times, to ensure that our people are engaged and aligned with our people-centric brand promise and are deeply connected through our values. In this way, we deliver on our mission to create a sustainable value for all our stakeholders. The following presents our approach towards creating value for our human capital. Human Capital Masterplan Our human capital five-year masterplan was developed based on the objective of promoting individual and team excellence of MISC’s workforce. The strategy aims to drive superior performance and enhance productivity while providing opportunities for growth within our organisation and ultimately unlocking the maximum value of the company through our employees. PEOPLE DEVELOPMENT • Talent sustainability • Encourage diversity HUMAN CAPITAL @ MISC Talent Attraction and Retention Talent Development • Structured learning & development programmes • Competency assessments • Succession planning Employee Engagement Cultural Beliefs and Shared Values • Inclusion programmes • Employee Volunteering Programmes • Employee engagements Cultural beliefs: • Results Matter • Own It! • Focused Execution • Nurture Trust • Tell Me • Shared Success Shared values: • Loyalty • Integrity • Professionalism • Cohesiveness CULTURAL BELIEFS AND SHARED VALUES At MISC, we make a meaningful difference in the way we manage our human capital through our cultural beliefs and shared values which drives our individual and team behaviours in sustaining a strong and committed workforce. Our cultural beliefs are centred on achieving the best outcomes, as Results Matter to us. We are deeply committed to Own It! and being Focused on execution. We Nurture Trust by seeking, encouraging and acting positively on feedback - Tell Me - as a mean to achieve our goal of Shared Success . We embrace shared values of loyalty, integrity, professionalism and cohesiveness. Our cultural beliefs are aligned and mapped directly against our majority shareholder PETRONAS’ cultural beliefs, and aim to create a single, unified PETRONAS identity throughout the Group. COVID-19 : How our Cultural Beliefs and Shared Values Kept Us Moving In 2020, our cultural beliefs and shared values were clearly demonstrated during the COVID-19 pandemic. This was evident through the dedication exhibited by our people from all levels of the organisation as follows: • Our seafarers who had to undergo strict standard operating procedures (SOPs) such as additional health checks and COVID-19 swab tests, long quarantine periods both before and after an assignment, and the mental stress of dealing with the fear of exposure to COVID-19 as well as being away for an extended period of time as crew onboard vessels (Cultural Belief: Own It!, Shared Value: Loyalty); • Our ship management team who worked tirelessly to manage crew change challenges, whilst adhering to various countries’ SOPs in order for our global team to continue operating seamlessly (Cultural Belief: Focused Execution; Shared Value: Cohesiveness); • Our IT support team who had to deal with the influx of support requests pertaining to the use of online and digital applications as a result of the Work From Home (WFH) arrangements (Cultural Belief: Own It!; Shared Value: Professionalism); • Our HSSE and facilities team who kept abreast of the government lockdown rulings globally and ensured that all SOPs were strictly implemented to ensure the safety of employees at work and at home (Cultural Belief: Focused Execution; Shared Value: Cohesiveness); • Our Management Team who met regularly to review the situation and make precautionary decisions on measures that effectively and proactively managed dynamic circumstances at both sea and shore (Cultural Belief: Nurture Trust; Shared Value: Cohesiveness); • Our business representatives who ensured our customers were briefed on the situation and precautionary measures were taken way above and beyond mandatory SOPs to ensure that both people and cargo arrived safely at their global destinations (Cultural Belief: Results Matter; Shared Value: Integrity); • Our shore support team that pivoted to using online and digital platforms to continue supporting our people in their respective roles (Cultural Belief: Focused Execution; Shared Value: Loyalty); • Last but not least, our Leaders who conducted numerous online townhall meetings, to seek feedback and share messages in order to reassure and motivate our employees at sea and shore to remain strong and vigilant in surviving the pandemic (Cultural Belief: Nurture Trust, Tell Me; Shared Value: Cohesiveness). We have not just remained strong, but have enhanced our resilience in certain aspects, as we continue to embrace our culture beliefs and shared values to face the future. We believe that a sustainable talent pipeline across all job levels is the key for business, ensuring the growth and development of all employees in line with our organisational ambitions and aspirations. In parallel with this, employee competency development plan focuses on addressing gaps in skills through structured and mandatory training programmes. Additionally, we will be introducing a career management framework for employees to plan their career progression within the Group. Towards achieving the five-year masterplan targets, we have driven the succession planning process and employee competency development programmes to ensure involvement, alignment and relevancy across the Group. CULTURAL BELIEFS Results Matter I stretch my limits to deliver superior results Own It! I own the results and don’t blame others Focused Execution I plan, commit and deliver with discipline Nurture Trust I always keep my promise and build mutual trust Tell Me I seek, give and act positively on feedback Shared Success I collaborate for the greater good of MISC Group SHARED VALUES Loyalty Loyal to corporation Integrity Honest and upright Professionalism Strive for excellence Cohesiveness United, trust and excellence Cultural traits Safety Leadership effectiveness Diversity and inclusion Key topics in POCS 2020 The PETRONAS Organisational Cultural Survey 2020 (POCS 2020) was conducted to understand what really matters to our people, what drives them, and what we can do better to create an even stronger workplace culture for our business growth. POCS is designed to assess the culture of our organisation and focuses on aspects that have a direct link to business performance. During the survey period, we have achieved an impressive response rate of 94%. MISC looks forward to the result once it is available to help support its overall strategy and goals. SPECIAL FEATURE – PETRONAS ORGANISATIONAL CULTURAL SURVEY 2020 ///// Sustainability / Financial Review / Business Review / Leadership / Governance /// MISC Berhad / Integrated Annual Report 2020 7 194 MISC Berhad / Integrated Annual Report 2020 7 195 /// Governance / Leadership / Business Review / Financial Review / Sustainability ///// Section Section