ENGAGING OUR STAKEHOLDERS OUR EMPLOYEES GENDER DIVERSITY AND PAY PARITY In 2023, about 46% of management were female with two of them holding C-suite appointments. CICT rewards fairly based on merit, ability, and experience for comparable roles across its hierarchy. Its incentive system focuses on performance and is genderagnostic. Employee pay is also benchmarked against the market based on job roles using gender-neutral pay surveys provided by independent remuneration consultants. In the 2023 exercise, no major pay gap was found4. FAIR REMUNERATION All employees have signed employment contracts with the key employment terms and conditions clearly defined. This allows employees to understand both their rights and obligations, as well as those of the company, thus minimising potential employment disputes in the future. Key employment terms specified in the employment contract include the job title and description, duration of employment, working hours, salary and statutory contributions/ deductions, leave entitlements, probation and notice periods, and key insurance and medical benefits, etc. To ensure that CICT remains competitive and continues toattract,motivateand retain the right talent, CLI engages external independent remuneration consultants to benchmark its compensation packages against the relevant talent markets. Salaries are reviewed against the benchmarks, taking into consideration the specific job scope and responsibilities of each employee. All employees will undergo an annual performance review with an open discussion on the employee’s performance, areas for improvement, developmental needs and career plans. CICT has a comprehensive and competitive compensation package to reward and motivate employees. The company has a pay-for-performance philosophy that rewards for superior performance, and aligns employee interests with those of unitholders. The overall annual variable bonus pool for employees is determined based on the Trust’s achievement against a holistic set of quantitative and qualitative targets in the Balanced Scorecard dimensions of Financials, Execution, Future Growth, Talent Management and Sustainability (including ESG factors). The bonus amount awarded to individual employees are 4 Referenced the 2023 Organisation for Economic Co-operation and Development (OECD) gender wage gap, the average gender pay gap is 12%. OECD covers more than 140 countries including Europe, where CICT has a presence in. The average gender pay gap is about 5% in favour of males at non-executive; 2% in favour of males at executive levels, and 7% in favour of males at management and above levels. EMPLOYEE SENIORITY PROFILE Non-Executive 35% Executive 60% Management 4% Senior Management 1% Non-Executive Executive Management FEMALE MALE 63% 40% 54% determined based on their relative contributions and individual performance during the year. The bonus awarded to eligible managerial grade employees will be a combination of cash and deferred equity which will be vested over three equal annual tranches. Additionally, the employees in senior management grades are granted contingent awards comprising CICT units; these awards are subject to a three-year performance period and will be vested if the predetermined performance conditions are achieved. The performance conditions include measures and targets on total unitholder return and ESG. JOB CREATION AND EMPLOYMENT 37% 60% 46% 74 CAPITALAND INTEGRATED COMMERCIAL TRUST
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