MATERIALITY MATTERS (cont’d) Retention − The objective of talent management is not only hiring talent but also ensuring their retention in the organisation. The retention rate depends on factors such as attractive pay packages, job specifications, safety and security of the employees, personal development of an employee, recognition and culture of the organisation, as well as the compatibility between the job and respective talent. Assessment − Periodical assessment of employees’ skills, abilities, improvements and competencies enable the organisation to know if they are a proper fit for employment continuation and promotion. Performance appraisal − It is a measurement of the actual performance of the employees in the job. It enables the organisation to ascertain if an employee can be granted extra responsibilities. Promotion − It refers to job enrichment. It keeps the energy level of the employees high and inspire them to continue working for the organisation. Career planning − If an employee is found befitting to handle work pressure and extra responsibilities well, the management needs to plan his / her career trajectory so that he or she feels elevated and rewarded. Such recognition and rewards inspire the employees to remain with the organisation for a long time. Succession planning −This pertains to the replacement of employees within the organisation. Employees who have contributed their best to the organisation and have been serving for a long time deserves to hold higher positions within the company. Exit stage − This is the final stage of the talent management process that ends in the retirement of the employees, and therefore they are no more a part of the organisation. Shown here are the key highlights of MYEG’s employee training and development in FY2022: RM135,778 total training budget 8,325 total employee training hours 967 employees received training 8.6 average training hours per employees Analysis of training needs will take place and be measured through Employee Training Metrics to improve effectiveness of the trainings we provide. MYEG conducts these trainings to add to our employees’ skillsets with the hopes of getting a return on our investment, such as: Improved productivity Increased efficiency More accountability Less support being required Opportunities for employee development by tracking personal growth 100
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