Sustainability Report 2011
City Developments Limited

A family that plays well together, works well together. CDL believes in creating a positive and dynamic workplace where our employees can work together in an inclusive environment and are rewarded fairly

CDL believes that employees need to achieve wellness in physical and mental health, and also harmony between work, family and personal commitments. With a harmonious and healthy corporate culture, employees are able to achieve total wellness, resulting in a healthier, more productive and engaged workforce who contributes positively to our business.

With this strong belief, coupled with management support, proper feedback systems and communication channels, CDL has in place comprehensive strategies on employee retention, training and development, work-life and work-health policies and initiatives, and we constantly innovate to implement creative programmes to increase employee engagement and participation.

We also advocate our employees to be socially responsible, integrating such commitment into our day-to-day HR operations and policies where we continually seek ways to ensure a better quality of life for the employees, and also the community and environment where we live, work and play.

CULTIVATING A FAIR AND INCLUSIVE WORK EMPLOYMENT

By empowering, nurturing and valuing our people, we strive to be an employer of choice and create an environment our employees can call a second home. We have about 350 employees in Singapore and are a signatory of the Employers’ Pledge of Fair Employment Practices with The Tripartite Alliance for Fair Employment Practices (TAFEP) that works with employer organisations, unions and the Government to create awareness and facilitate the adoption of fair employment practices.

CDL ensures our people processes, including the recruitment process, adhere to strict guidelines on nondiscrimination and fairness. There is no preference of gender, ethnicity, religion or age in our recruitment procedures. We offer fair and competitive remuneration packages based on employees’ competencies and expected roles and responsibilities.

Our employees’ rewards and recognition policies emphasise on merit and performance as we value their contributions towards achieving success in our business.

CDL began to monitor and track incidences of discrimination in 2008 and there have been no reported incidences.

Early implementation of the Retirement and Re-employment Policy

The Retirement and Re-employment Act will take effect from 1 January 2012 to enable more people to continue working beyond the current statutory retirement age of 62, up to 65 in the first instance and, later, up to 67. The law will require employers to offer re-employment to employees with satisfactory performance and who are medically fit, to continue working beyond the age of 62, till age 65. If employers are unable to find suitable jobs for eligible employees, they should offer the employees a one-off Employment Assistance Payment (EAP) to help employees tide over a period of time while they look for another job.

At CDL, we have been and will continue to practice re-employment. Even though the current Singapore Retirement Age Act gives employers the discretion to reduce the salary of those beyond 60 by 10%, CDL continues their employment based on the existing permanent employment terms. However, at the age of 62, employees who meet CDL’s re-employment criteria, such as satisfactory performance, remaining medically fit, with the availability of a suitable role, would be converted to a yearly contract term with no change in existing benefits and salary as well as eligibility to all bonus payouts. However, if they do not meet the criteria, re-employment will not be extended and there will be no compensation provided.

Further to the above, CDL has plans to implement the Retirement and Re-employment Policy with effect from 1 July 2011 before The Retirement and Re-employment Act takes effect on 1 January 2012. There will be a positive impact as implementing the changes 6 months in advance will benefit more of our employees. With an early implementation of the Retirement and Re-employment Policy, CDL is fully supportive of the government legislation to help older employees remain economically productive and providing valuable working opportunities for our employees whenever possible.

In addition, CDL will be providing a oneoff EAP(1), as stipulated by the Retirement and Re-employment Act, should any employee reach the age of 62 and does not meet the necessary criteria for re-employment regardless of reasons.

PROFILE OF OUR WORKFORCE

Gender

CDL recruits based on the principles of competencies and appropriate fit within the Company. Equal opportunities are given to all employees to develop and grow.

At CDL, we have more female employees than male employees across the ranks. In 2010, female Heads of Departments represented 54.5% (12 of 22 Heads of Departments) of the workforce in the same cohort.

Age

61.7% of our workforce falls between the ages of 31 and 50, representing the majority of our workforce.

 

GEN Y

Understanding our next generation, Gen Y is critical to our business growth and development so as to ensure business sustainability. Gen Y is the fastest growing segment of our workforce and is also emerging as a potential customer group. 59.3% of new employees hired in 2010 were born in 1978 or later. 2010 also witnessed 28.8% of employee promotions going to GEN Y employees and 5.4% of our managers are 30 years old and below. In other words, these GEN Y employees are injecting into CDL, the GEN Y creativity, thinking and philosophy of life and bringing about continual renewal of people asset to the Company.

Education profile

72.6% of our employees hold tertiary qualifications and above (this includes holders of diploma, degree and Masters qualifications). CDL believes in developing our employees and helping them achieve their potential so that they can better contribute to the success of the Company.

CDL has in place policies that provide employees with opportunities for professional development and skills improvement. For example, CDL has been sponsoring the parttime Masters programme of an officer that is still on-going.

Total workforce by employment type and employment contract

Understanding that some employees need time to attend to special family needs, some employees have over the years converted to a part time work schedule (and back to full time) on a need be basis. In 2010, there were three female employees working on a part time arrangement.

Talent from the local community

The majority of senior management employees (Assistant General Managers and above) are hired from our local community. In 2010, all of them were Singaporeans or Permanent Residents in Singapore.

Employee Relations

We believe in developing employee engagement strategies to drive the message of connectivity and commitment into the hearts and minds of employees. Our employees have access to various constructive dialogue mechanisms within the Company to voice their concerns and advance their interests.

I) Freedom of Association

At CDL, we respect all employees’ fundamental rights to freedom of association and the right to be members of trade unions.

Although CDL is not a unionised company, we are guided by the Industrial Relations Act which allows representation of employees by trade unions for collective bargaining. This provides our employees an avenue to seek redress on their disputes.

As part of our efforts to recognise employees’ participation in professional bodies, CDL supports employees’ subscription to these professional bodies.

II) Resolving Grievances

We have policies and procedures in place to manage employee grievances, if any, to ensure that the matter is assessed in a fair and impartial manner. Employees’ disciplines are guided by a set of Code of Conduct and Whistle-blowing Policy that deals with the receipt, retention and treatment of complaints regarding the Company’s accounting, financial reporting, internal controls and auditing matters, as well as the protection of the confidential or anonymous reporting by employees of legitimate concerns regarding these matters.

  • (1)The EAP amounts are 3 months salary (with a minimum of S$4,500 or maximum of S$10,000) or 2 months salary (with a minimum of S$3,000 or maximum of S$7,000) for those who are re-employed for at least 18 months.