TALENT ACQUISITION AND RETENTION
New Hires
At CDL’s Corporate Office, CDL had 74 new hires in 2022, an increase in the number of new hires from 2021 by 12%. Out of the new hires, 62 were replacements for existing positions and 12 were for newly-created positions.
CDL Group (based in Singapore)’s new hires trend:
Item |
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Total no. of new employee hires |
1421 |
698 |
942 |
1725 |
% of internal hires |
2% |
8% |
5% |
3% |
Total no. of new employee hires |
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Female |
628 |
317 |
397 |
726 |
Male |
793 |
381 |
545 |
999 |
Total no. of new employee hires |
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Below 30 years old |
169 |
458 |
132 |
240 |
30 to 50 years old |
406 |
689 |
326 |
476 |
More than 50 years old |
230 |
274 |
240 |
226 |
Employee Retention
Our successful employee engagement is evident from our employees’ length of service. The average tenure of employees at CDL’s Corporate Office is about 8.8 years. More than 50% of CDL Corporate Office’s employees have been with the company for longer than five years. Our Corporate Office employee resignation rate of 16.8% continue to remain significantly lower than the national average of 20.8% in 2022. At our Corporate Office, CDL experienced an involuntary turnover rate of about 1.5%, of which 0.5% is due to retirement.
CDL Group’s (Singapore-based operations only*) employee turnover rates:
|
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Total Employee Turnover Rate |
38.3% |
41.4% |
34.2% |
38.8% |
Voluntary Employee Turnover Rate |
34.9% |
28.3% |
31.0% |
38.6% |
CDL Group’s (Singapore-based operations only*) employee turnover rates broken down into gender and age brackets are as follows:
Total Employee Turnover Rate |
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Female |
44.3% |
42.7% |
41.6% |
42.1% |
Male |
55.7% |
57.3% |
58.4% |
31.6% |
Total Employee Turnover Rate |
FY2019 |
FY2020 |
FY2021 |
FY2022 |
Below 30 years old |
32.3% |
27.4%% |
18.1% |
22.5% |
30 to 50 years old |
48.0% |
49.8% |
39.3% |
52.0% |
More than 50 years old |
19.6% |
22.7% |
21.8% |
25.5% |
EMPLOYEE PERFORMANCE MANAGEMENT SYSTEM
Fair and competitive remuneration attracts and retains talents to build strong human and organisational capital, enabling CDL’s continued and robust business growth. CDL 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. Our Balanced Scorecard System — built on the four perspectives of financial, customer, internal control, learning and growth — measures and aligns cross-functional and individual employee performance to support CDL’s business strategies and corporate objectives.
CDL HQ utilises a performance appraisal that measures performance by management by objectives, using measurable targets (e.g. KPIs). All CDL, M&C, CBM Pte Ltd and Tower Club staff who are based in Singapore use the above 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 and attract, retain and develop the best employees. CDL conducts an employee engagement survey biennially. Last held in 2022, CDL Corporate Office’s engagement score was 84%, which is 8% above the Singapore norm. Survey questions cover areas of well-being of employees, job motivation and satisfaction, and work productivity.
Unit |
FY2020 |
FY2022 |
% of employees with top level of engagement, satisfaction, wellbeing |
79% |
84% |
% of employees who responded to the survey |
84% |
88% |