Recruitment and retention
There is an economic cycle, but we always seek outstanding talents and never stop investing in the development of human capital, as we believe that an enterprise’s competitiveness lies in talents. We participate in job fairs on campus and interact with the school interns, fresh graduates of universities or master’s programs, and talents with one to two years of experience through an all-round talent cultivation program– a new talent training program and provide internship or employment opportunities through diverse online and offline channels to continue to recruit and train outstanding talents, enhance our competitiveness, and lay a foundation for our sustainable development It is our responsibility to provide a work environment of happiness and fulfill our corporate social responsibility. We regularly review employees’ salaries, survey their satisfaction with work, and continue to improve, so that they will be proud of working at Kedge. We train their other skill sets through internal talent selection and interdepartmental rotation to cultivate all-around talents through training, experience, and honing.
To motivate employees to pursue continuous growth and stay at Kedge for more than half a year, they can participate in the company’s twice-a-year performance management and promotion mechanism to improve and recognize their performance. Our performance evaluation and career development review mechanism ensure effective rewards to outstanding employees through performance management; we provide various types of bonuses, rewards, promotions, pay raise, and training to individuals and teams who have achieved strategic targets or have outstanding performance to retain talents.
In 2021, up to 181 people had job promotions and salary increases, accounting for 31% of all employees.
In 2022, the overall salary earned by the highest individual in the year is about 6.3 times the median salary of other employees. The median salary of employees here refers to the regular employees (excluding foreign migrant workers) who are on the job throughout the year, and the amount actually paid to the above-mentioned employees in the current year; the median annual income increase of individuals is 12%, which is about 1:4.9 compared with the change in total compensation for the highest individual annual income. The personal annual income increase here refers to the regular employees (excluding foreign migrant workers) who were on the job in the previous year and the current year, and the actual increase in the current year to the above-mentioned in-service employees.
We determine the remuneration based on market competitiveness and internal fairness. We decide on the remuneration based on the third-party market surveys of the construction industry. We adopt the principle of “enabling those with good performance to be better” for salary design depending on the overall economic changes, government laws and regulations. We adjust salary based on the company’s overall performance, profit and performance at a given unit, and individual performance. In addition, we pay out year-end bonuses as per the company’s annual profitability, the organization’s achievement of targets, as well as employees’ annual work performance. In addition, after the completion and payment settlement of each construction project, we allocate a moderate amount of the profits as bonuses to reward outstanding employees in the project to share the profits, enhance employees’ loyalty and sense of honor, and motivate them to pursue excellence and take on challenges. Furthermore, our salary standards are consistent regardless of gender, race, religion, political affiliation, and marital status. The remuneration and benefits include salary increases and various bonuses to ensure and attract outstanding talents.
The remuneration policy of the company’s senior management is recommended by the remuneration committee to the Board of Directors for approval; it is based on the company’s sustainable operation strategy, financial indicators, environmental, social, corporate governance and other achievement indicators to ensure that the company’s operating goals can be in line with sustainable operating results combined. In addition to setting fixed salaries with reference to salary market standards, the remuneration of senior management is directly linked to the performance evaluation items of senior executives as the basis for variable bonuses. In addition to ensuring short-term financial indicators, it also contributes to long-term value.
The regular salary of non-managerial entry-level male employees is 1.85 times higher than the minimum base salary, and that of the female counterparts is 2.33 times higher.
The overall salary increase is 6.3%.
Personnel turnover over the years
In 2022, there were 195 new employees (106 males and 88 females); there were 115 employees who resigned (81 males and 34 females).
Talent cultivation and development
We enable employees to have diverse learning and development opportunities and broaden their career development paths through a well-established talent development system. Employees need to receive training continuously to improve their work quality and professional skills, stimulate their enthusiasm for work, and maintain work security. In 2022, the total number of our education and training hours for employees was 15407.02. The trainees were all our employees. The participation rate was 100%, with 26.34 training hours per person, which exceeded the target set by the company. The reason for the decrease compared to 2021 is that the total number of annual education and training hours in 2022 was affected by the pandemic and limited personnel mobility, so the total number of hours was lower than in 2021.
Compared with 2021, the total hours of annual education and training increased by 3593.92 hours.
Education and training hours over the years
We offer education and training every year according to the trends, the different needs of various job levels and units, and the expertise and skills required for their work and provide employees with subsidies for their professional elective courses to improve their expertise and soft skills. The implementation is as follows:
2022 Employee Growth and Training Sessions
DEI Workplace – Cultural Integration of Immigrant Workers
Problem to be solved
There are 271 Southeast Asian employees (migrant workers) in Kedge Construction, accounting for about one-third of the employees, and they are the main source of project execution. In recent years, the promotion of “Labor Equality and Elimination of Inequality” (SDGs10) is part of Kedge’s sustainable development strategy.
Implementation and Highlights