CapitaLand Integrated Commercial Trust - Annual Report 2021

Our Employees CICT is managed by the Manager and Property Managers, which are wholly owned subsidiaries of CapitaLand. The Manager and Property Managers teams are responsible for CICT’s fund management, property and portfolio management in Singapore. The workforce comprises mainly full-time and permanent employees who are Singapore citizens and permanent residents. Leveraging CapitaLand’s integrated human capital strategy, CICT recruits, develops, motivates and retains employees. Key performance indicators for employees are in place and aligned with the business. The total headcount for 2021 is 646 (2020: 665). Fairness and Diversity CICT has a performance-oriented work culture that values diversity and teamwork while upholding CapitaLand’s commitment to being a workplace of choice. In April 2021, CapitaLand was amongst a list of top employers in Singapore, according to Randstad’s 2021 Employer Brand Research. Employees can make vital contributions based solely on their talent, expertise and experience, regardless of gender, ethnicity, culture, nationality and family status. To draw high-calibre talent, job opportunities with the Manager and Property Managers are advertised publicly via online job portals, with selections based on individual merit, in line with CapitaLand’s non-discriminatory employment practices. CICT is against any form of coerced labour and discrimination and adheres to the tenets of global human rights conventions that include the Universal Declaration of Human Rights and the International Labour Organisation (ILO) Conventions. Singapore has ratified 28 ILO Conventions, spanning four critical aspects of employment standards: child labour, forced labour, collective bargaining and equal remuneration. CapitaLand complies with five key principles of fair employment as a signatory of the Employers Pledge with the Tripartite Alliance for Fair Employment Practices: • Recruit and select employees based on merit (such as skills, experience, or ability to perform the job), regardless of age, race, gender, religion, marital status, family responsibilities, or disability. • Treat employees fairly and with respect and implement progressive human resource management systems. • Provide employees with equal opportunity for training and development based on their strengths and needs to help them achieve their full potential. • Reward employees fairly based on their ability, performance, contribution and experience. • Comply with the labour laws and abide by the Tripartite Guidelines on Fair Employment Practices. In 2021, there was no reported incident relating to discrimination or human rights violations. Fair Remuneration Aligning employee performance targets with corporateobjectives aswell as industrybenchmarking ensures remuneration is fair across the organisation. This is key for CICT to stay competitive, attract and retain talent. CapitaLand engages independent human resource consultants to benchmark the Trust’s compensation and benefit packages across different markets and local industry peers. Beyond base salaries, other components of the compensation packages include short-term cash bonuses and long- term equity-based reward plans. The Singapore Central Provident Fund (CPF) enables all working Singaporeans and Permanent Residents to set aside a portion of their monthly income as savings for retirement. In line with prevailing regulations, both CapitaLand and its employees make monthly contributions to employees’ CPF accounts as part of their compensation. Employment contracts with clearly stated terms and conditions are signed with all confirmed employees. In the event of termination or employee resignation, depending on the employee’s job grade, a minimum notice period of one month must be fulfilled. Exit interviews are conducted with employees who have tendered their resignations as part of continuing efforts to improve retention policies and initiatives. CapitaLand’s robust performance management system is adopted to ensure that all employees receive regular performance reviews and career development guidance. Annual performance reviews involve open discussions on the employee’s performance, developmental needs, areas for improvement and career planning. Key performance indicators are set to drive employee performance and contribution to the REIT’s set objectives. Employees participate in setting team and individual goals CapitaLand Integrated Commercial Trust 164 Stakeholders and Communities