TALENT ACQUISITION AND RETENTION
New Hires
Globally, the Group had 3,491 new hires in 2024, a decrease in the number of new hires from 2023 by 14.6%. 3% of open positions were filled by internal candidates (internal hires).
Employee Retention
Our Group employee turnover rate is 37.6%, with a breakdown of a voluntary turnover rate of 32.4% and an involuntary turnover rate of about 5.3%.
EMPLOYEE PERFORMANCE MANAGEMENT SYSTEM
The Group uses a well-structured and open annual performance appraisal system, which is reviewed and enhanced periodically to encourage two-way feedback between employees and their reporting officers. The Group utilises a range of performance appraisals methods, including (1) Management by objectives – systematic use of agreed measurable targets by line superior, (2) Multi-dimensional performance appraisal, and (3) Formal comparative ranking of employees within one employee category. 100% of the Group’s employees are appraised using one or more of these performance appraisal methods. Appraisals are conducted on a yearly basis.
Employee Well-being
Employee engagement and well-being surveys are crucial to assess employee satisfaction and identify areas of improvement to attract, retain and develop the best employees. Biennial employee engagement surveys are conducted by the Company and CBM Pte Ltd. Last held in 2024, the Company’s engagement score was 80%, which is 3% above the Singapore norm. At CBM Pte Ltd, the last engagement survey was held in 2023, achieving an engagement score of 85%. Survey questions cover areas such as well-being of employees, job motivation and satisfaction and work productivity.
