CLAS has an integrated human capital strategy to recruit, develop and motivate staff. Key performance indicators for the business as well as for people development, both of which are aligned with that of CLI, are in place to ensure that staff’s performance goals are aligned with CLAS’ business objectives. Staff are provided with the appropriate development opportunities to perform well in their jobs. Human Rights CapitaLand has a Social Charter8 which sets out commitments to support the preservation of human dignity and self-respect of every individual, covering topics on human rights, child labour, forced labour harassment9, human trafficking, code of conduct, diversity and inclusion, and healthy work-life balance. Applicable to all staff, the policy guides CapitaLand towards ensuring a supportive and respectful environment for individuals across all aspects of the business and operations. CapitaLand was ranked amongst the top three in the Real Estate category of The Straits Times’ Singapore’s Best Employers 202310. Anti-Discrimination, Anti-Child Labour and Anti-Forced Labour CLAS upholds CapitaLand’s commitment to be a workplace of choice for its employees. CapitaLand is a signatory of the United Nations Global Compact and has signed the Employers Pledge for Fair Employment Practices with the Tripartite Alliance for Fair and Progressive Employment Practices. In line with CapitaLand’s global commitment to human rights, it is mandatory for appointed main contractors to ensure that there is no child labour and/or forced labour at CLAS’ project sites. In FY 2023, CLAS had zero incidents related to discrimination, child labour or forced labour, and no employee was below the age of 16. Positive Work Environment A positive work environment is crucial to attract, motivate and retain talent. Diversity, Equity and Inclusion CLAS embraces diversity, equity and inclusivity regardless of age, religion, gender, race, nationality and family status. CLAS is guided by CapitaLand’s Diversity & Inclusion Policy11, which expects employees to foster a culture of diversity and inclusion, where different perspectives, experiences and skillsets are respected and valued. In 2023, CLI’s Chief Sustainability Officer introduced a 3-part e-learning series on the Fundamentals of Diversity, Equity and Inclusion to enhance staff’s knowledge of working in and leading diverse teams at the workplace. Having a diverse mix of employees is also a target under the CLI 2030 SMP. CLAS has a vibrant and competent workforce that has given it a competitive advantage. As at 31 December 2023, CLAS’ employees comprised 86 nationalities. About 24% of its global workforce was below the age of 30 years old, 59% between 30 to 50 years old and 16% above 50 years old. The workforce also comprised a balanced gender mix of males and females, at 51:49. Female employees comprised more than 38% of CLI’s senior management, about 51% of CLAS’ middle and senior management positions and 75% of the Managers’ key management personnel. CLAS was ranked amongst the top 10 companies in Singapore in Equileap’s Gender Equality Global Report & Ranking 202412. To attract talent, job opportunities are advertised publicly via online job portals, with selections based on individual merit, in line with CLAS’ non-discriminatory employment practices. In FY 2023, there were 386 new hires, representing about 22% of the total headcount of CLAS. Approximately 48% of the new hires were male and 52% female. About 47% of the new hires were below the age of 30 years old, 51% were between 30 to 50 years old and 2% were above 50 years old. About 71% of the new hires were from CLAS’ properties in Asia Pacific and the other 29% were from CLAS’ properties in Europe (including UK). Fair Remuneration All staff have signed employment contracts with the key employment terms and conditions clearly stated. This allows staff to understand both their rights and obligations, as well as those of the company, thus minimising potential employment disputes. CLAS observes a pay-for-performance philosophy that rewards employees for superior performance, which aligns the interests of employees with that of Stapled Securityholders, to deliver long-term value. All employees 8 An extract of CapitaLand’s Social Charter is available on CLAS’ website and the full policy is available on our Intranet. 9 An extract of CapitaLand’s Harassment Policy is available on CLAS’ website and the full policy is available on our Intranet. 10 Source: The Straits Times (2023) 11 An extract of CapitaLand’s Diversity & Inclusion Policy is available on CLAS’ website and the full policy is available on our Intranet. 12 The Gender Equality Global Report & Ranking by Equileap is an in-depth analysis of the gender equality performance of publicly listed companies around the world. Companies are scored based on 19 criteria, including the gender balance of the workforce, senior management and board of directors, as well as the pay gap and policies relating to parental leave. The report is accessible here. 47 CAPITALAND ASCOTT TRUST
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