Employees, Customers, Suppliers and Creditors

I. Employees

The Company complies with the standards and policies set by the Department of Labor and Employment. Likewise, the Company has Security and Safety Manuals that are implemented, reviewed and regularly updated to ensure the security, safety, health, and welfare of the employees in the workplace. The Board also establishes policies, programs and procedures that encourage employees to actively participate in the realization of the Company’s goals and its governance including but not limited to:

A. Health, Safety and Welfare

Foster the health and well-being of our people

Worker safety and wellbeing are of utmost importance. To support the physical and mental health of our employees, we continued to improve our office spaces and included areas where people can work, eat, and relax. We also continued to provide our employees with medical teleconsultation services that covers both COVID and non-COVID cases. Access to mental health experts is also available via teleconsultation. Aside from these, to strengthen our culture of well-being, monthly webinars were conducted on diverse topics from subject matter experts.

Pulsed our needs through employee listening and targeted our actions via analytics

We kept abreast of our people’s needs through employee listening initiatives. Through seamless surveys and clear analytics dashboards, we can ensure targeted action planning that drives our employee engagement.

Improved employee services via digitalization

Through our internal Employee Service Portal, we provide access to efficient employee services in an online platform that saves an average of 6.5 mandays per service in processing time, and with a 92% employee satisfaction rate. To provide a delightful employee experience, our business units continued to utilize the Darwinbox human resource management platform with modules in Recruitment, Performance, Career Development, and more. Implementation of the Darwinbox platform was also expanded to more business units such as Robinsons Bank Corporation and Universal Hotels and Resorts Inc.

Embraced the hybrid environment to engage and recognize our people

We built connections with each other through groupwide and localized engagement and recognition initiatives. Likewise, we adapted by socializing our values and culture through hybrid events that were accessible to both onsite and online participants, resulting in better choices for our people.

B. Training and Development

Competency Workshops

The JGSHI Competency Workshop served as an initiative that illustrates how the competency framework supports our team members' career journey. One key importance of this workshop is for the team members to understand how essential each competency type (Core, Leadership, and Functional) is to the success of their careers. Two of the most important highlights of this workshop are the launch of the functional competencies and the Individual Development Plan (IDP). These were introduced for the adoption of a holistic, competency-based career development of all the team members.

For the 2022 workshops, selected team members were invited and roughly around 75 people leaders were enabled in using competency-based HR systems in their varying leadership facets (recruitment, performance appraisal, learning and development initiatives, employee movements, etc.). In their post-assessment evaluation, the participants appreciated the overall meaningful engagement/interactions shared during the workshop where they were able to help each other gradually familiarize this suite of competencies. Something they are looking forward to is the application of these learnings back to their workplace. Assessments are the next steps.

Project Ascend

Project Ascend aims to build a culture of growth and development through an inspirational talent mobility program that ensures a sustainable leadership succession pipeline within the Gokongwei Group.*

*Gokongwei Group is not a legal entity but a collective name used for marketing or corporate branding purposes

Our objective is to i.) mobilize high-potential talents and be immersed to other functions; ii.) decrease the identified talent gaps for critical roles using our internal hi-po talents; and c.) create a centralized program and visibility that enables employee movement/placement. Our next step now is to review the tools to facilitate mobility such as the total rewards concept given the different entities of the Gokongwei Group. We will also facilitate this through talent discussions with the Corporate Center Units (“CCU”) Functional Heads for initial visibility on the possible talents for mobility. Once completed, we will officially launch the project with 10 pilot participants. The ways of working is through Agile Methodology.

LinkedIn Learnings (“LIL”)

LIL aims to provide a curation of relevant online learning content related to the JGSHI competencies. Some activities to increase traction are i.) Tapping of HRs/Curators of the CCU, ii) Release of CCU and Individual Leaderboards, iii) Awarding of Learner Badges, and iv) Integration of E-Learning Materials for Compliance Programs. Due to the introduction of these programs, one of the biggest improvements is the average learning hours/learner/month. This gradually increased from a sudden dip in Q3 of 2022. This metric reflects the average no. of hours spent by the total CCU learners. To further increase engagement, more collections relevant to the monthly celebrations will be introduced and also, the online learning programs will continuously rally competency-based courses (now with the introduction of the functional competencies) to make their hybrid learning experience more meaningful.

Succession Planning

We have adopted the Talent-to-Value approach where we identify critical roles that will deliver the Gokongwei Group's objectives, goals, strategies and measures (“OGSM”). By focusing on the critical roles, we have visibility on the required roles/skills to deliver the OGSM, to objectively assess the job fit for the role, and to identify the right successors with a more deliberate career pathing.

In 2022, we have identified 537 critical roles across the group and 63% of these have identified successors. This ensures that we have a steady pipeline of future leaders. Our key next step is to define the value creation by clearly determining the peso value of the deliverables of these critical roles. With this, we are able to focus our resources in building and strengthening these roles because of their link to the overall business key result areas.

Executive Development Program

Objectives:

  • Build CEOs and help them develop their leaders - pipelining and retaining leaders and talents
  • Further develop leadership & functional capabilities
  • Build resilient and highly collaborative teams upholding continuous improvement and integrity

a. Executive Coaching

Programs:
Executive Coaching Program - Promote and build a Coaching Culture in partnership with Center for Creative Leadership

In the past years, we have invested in a variety of programs in developing our personal leadership skills and promoting our coaching culture. Those have been helpful in instilling new learnings to apply in our teams, practice more frequently within the organization and significantly impact the way we respond to change. This is a mechanism that supports us to be better by deeply understanding our strengths, potentials and blind spots to leverage your strengths that will benefit you personally and professionally. As we weave it into the flow of our work, it fuels our abilities in stepping up and rapidly succeed in our roles; current, new or aspirational roles.

b. EVOLVE Leadership Impact Accelerator

c. Executive Leadership Council (“ELC”) Discovery Sessions

In our JG OGSM parlance, we engage in discovery sessions (“exploratory discussions”) to better understand our strategic landscape. With our key stakeholders, we work collaboratively to learn and understand our needs and aspirations, particularly within the scope of our current businesses, emerging trends and opportunities, and organizational strengths and vulnerabilities. The aim is that the learnings from these discovery sessions will significantly shape our WHERE-TO-PLAY and HOW-TO-WIN strategies moving forward.

d. CEO Masterclass

In line with our thrust on Sustainability, we recognized the linkages between all facets of our society, and we saw just how important it is to care for ourselves at the same time as caring for our planet. We are aware that society itself is in a state of constant transition. It is the duty of purpose-driven companies like ours to evolve as part of this transition. This means taking action to improve our environment, whether by tackling climate change, addressing biodiversity loss, or cleaning up plastic pollution. It also means examining and addressing the broader impact on society, as well as empowering individuals to have a voice in the governance that affects us all.

This year, we have curated the CEO Masterclass to focus on ESG. ESG is the running thread in the program and from the broad view, ESG is about measuring sustainability performance from (E)nvironmental, (S)ocial, and (G)overnance Perspectives and linking it to the financial performance of the firm.

This is the running thread throughout the three sessions for the CEO Masterclass:

  • 1st session: Business Case for Sustainability and Leadership in the Age of Sustainability
    Focuses on understanding how resource externalities in a competitive world link responsible business to the financial position and operational capabilities of JG Summit and deep dive into consumer and regulator perspectives around responsible business
  • 2nd session: Sustainability, Climate Change & Finance
    Focuses on the link between sustainability, climate change and financial institutions as providers of capital and explore the role of data and disclosure, sustainable (or green) investing and financing, and carbon markets.
  • 3rd session: Circular Strategy
    Focuses on the link between sustainability, climate change and financial institutions as providers of capital and explore the role of data and disclosure, sustainable (or green) investing and financing, and carbon markets.
  • 4th session: Governance and Sustainability
    Defining the notion of organizational sustainability from a governance perspective and using Fair Process Leadership (FPL) framework.
  • In partnership with INSEAD Business School, with 21 Leaders across Gokongwei Group held last Sept 6 - 7, 2022 @ Dusit Thani Mactan Cebu
    Total of 16 training hours / leader

e. Open Public Programs

2 Programs in Partnership with INSEAD from October - November 2022

i.) Self-Paced Program

In the current context of the ever-competitive corporate landscape, one of the biggest supports that every stakeholder (internal/external customer, shareholder, and board members) needs is impactful communication. At a leadership level, it is essential for them to carry out the mission of delivering tailor-fit communication efforts to a multitude of stakeholders. This is deemed important for them to collectively engage the stakeholders in driving sustainable and profitable growth for the Gokongwei Group.

Leadership Communication with an Impact will also develop the Communication Intelligence of the Gokongwei Group leaders which empowers them to effectively drive the performance of the entire conglomerate.

As part of the mission to leverage on digital strategies, it is indeed essential that the Gokongwei Group leaders inculcate the value of the program, Strategy in the Age of Digital Disruption. In a landscape filled with disruptive innovations, it is essential that our leaders continuously map on new digital possibilities to assist in further growing the business and to effectively execute digital strategies. The Gokongwei Group leaders are essential in proliferating these digital strategies, making these digital transformations happen (through work streams, sustainable work practices, etc.) and embracing the concept of digital disruption in order to continuously add value to every form of product and service that a Business Unit from the Gokongwei Group offers.

ii.) Strategy in the Age of Digital

Disruption (15pax)

  • Develop a strategic response to the new digital possibilities
  • Support in becoming more proactive in the digital domain and help turn digital threats into opportunities

Leadership Communication with Impact (6pax)

  • Develop your own leadership communication style
  • Establish a link between leadership, different communication styles and performance results
  • Use emotional intelligence through interpersonal communication

C. Rewards, Compensation and Benefits

Rewards policy that accounts the company's performance in the long-term

At JG Summit, we firmly believe that good governance is the cornerstone of sustainable success. As we strive to attain excellence in corporate governance, we recognize the crucial role that rewards programs play in aligning the interests of our employees and stakeholders with the long-term goals of the company. Our commitment to fostering a culture of accountability, transparency, and ethical behavior is reflected in the design and implementation of our rewards programs, which effectively account for the company's performance in the long term.

Performance-Based Compensation

Our rewards programs are structured to emphasize performance-based compensation, ensuring that the financial incentives provided to employees are directly linked to the company's long-term success. We have implemented a comprehensive system that combines individual and team performance metrics with strategic objectives, enabling us to reward employees based on their contributions towards sustainable growth.

Balanced Scorecard Approach

To account for the company's performance holistically, we have adopted a balanced scorecard approach in our rewards programs. Beyond financial metrics, we consider a wide range of key performance indicators (KPIs) that align with our long-term strategy, including customer satisfaction, innovation, employee engagement, social responsibility, and environmental sustainability. This approach helps foster a well-rounded performance evaluation and rewards system, where employees are incentivized to contribute to the company's overall success across multiple dimensions.

Performance Assessment and Goal Setting

Our rewards programs go beyond annual performance evaluations. We engage in regular performance assessments, allowing us to review progress towards long-term goals and make necessary adjustments. Through this process, we provide employees with constructive feedback and set new targets, reinforcing our commitment to continuous improvement and long-term success.

Transparent Communication

Transparency is a fundamental aspect of good governance, and we prioritize open communication throughout our rewards programs. Employees are provided with clear guidelines and expectations regarding their performance assessments, rewards criteria, and the company's long-term objectives. Regular communication channels are established to share updates on progress and reinforce the link between performance and rewards, fostering a culture of trust and accountability.

Conclusion

At JG Summit, our rewards programs are designed to account for the company's performance in the long term, reflecting our commitment to good governance and sustainable success. By embracing performance-based compensation, adopting a balanced scorecard approach, engaging in regular performance assessments, and promoting transparent communication, we strive to ensure that our rewards programs effectively align the interests of our employees and stakeholders with the long-term goals of the company. Through these efforts, we demonstrate our dedication to fostering a culture of accountability, transparency, and ethical behavior, which underpins our pursuit of excellence in corporate governance.

II. Customers’ Welfare

The Company adopts customer relations policies and procedures to protect the customer’s welfare. This includes providing and making available the customer relations contact information empowered to address and attend to customer questions and concerns.

III. Supplier & Contractor Selection

The Company follows the Supplier Accreditation Policy to ensure that the Company’s suppliers and contractors are qualified to meet its commitments. Apart from the accreditation process, suppliers and contractors also undergo orientation on Company policies and ethical practices.

Supplier Accreditation Policy

IV. Creditors

Protection of Creditors Rights Policy

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