Key Development for Our Shore Employees
MISC’s strategic priorities for human resources in 2019 focused mainly on fortifying our foundation with the aim to build a robust succession planning programme, rolling out the functional competency framework and the new HR information systems, while embedding the cultural beliefs of the organisation in the mindset and behaviour of our people.
During the year, in line with the Group’s strategic priorities to build a robust succession planning programme as a means of having a sustainable talent pipeline, we continued to adopt the same process of succession planning to assess the level of potential of senior leaders, comprising senior managers and above from across the Group, with the purpose of identifying a successor pool with high potential.
Other subsidiaries within the Group have also established a succession planning process to identify potential leaders in order to enhance their readiness for critical positions. This will ensure that a talent pool of qualified and competent employees is readily available to lead MISC forward.
Meanwhile, efforts to attract, retain and develop the right talent to support the Group’s sustainability goals continued from the previous year where diversity and inclusiveness were leveraged as differentiating factors.
Since senior position resourcing remains a challenge that most organisations are facing today, the Group placed a lot of emphasis to ensure the senior positions are filled within three months from a position being vacant to avoid business and operational disruption. In FY2019, more than 90% of the senior position resourcing for Management Committee, critical positions and senior positions were filled. The hiring trend will constantly evolve; therefore, the focus will continue to be competitive in response to the trend.
The other strategic priority for the Group is retaining the right talent in order to sustain the business and for future growth. In 2019, the retention rate of high performing talents was at 94%. As it is critical for the Group to retain high performing talent, efforts will continue to provide talents with a challenging role, competitive remuneration and structured development in both functional and leadership areas.
As the market remains competitive and the skills requirements of organisations undergo rapid change for employee competency development, we continuously develop talent in various ways by investing in new tools to embed a learning culture.
In support of the Technical and Vocational Education and Training initiatives by the Ministry of Education, MHB with three other industry partners formed a strategic collaboration to become an active player by providing Structured Internship Programme placements for students from the institutions managed by the Department of Polytechnic and Community College Education.
In keeping up with the global trend of moving towards digitalisation to support MISC’s business needs, we embarked on two groupwide digitalisation initiatives in 2019 to increase our efficiency in managing the human resource aspect of the organisation. These two initiatives are the Talent Management System and MISC Feedback Platform application.
Key Development for Our Seafarers
Part of the Group’s strategic focus and commitment is to ensure that there is a sustainable pool of seafarers who can execute the business strategies through our integrated marine services subsidiary, Eaglestar. In order for us to achieve that, we are continuously investing in staff training and retraining, talent development and succession planning to enhance their competencies, proficiency and capabilities in various aspects of the business and operations. During the year in review, Eaglestar supported the development of its seafarers by investing RM54.2 million in training and development programmes.
Eaglestar is also identifying and developing new and future-ready skills for the seafarers to understand and operate new concepts in smart ships, multi-fuel engine designs, as well as changes in maritime legislation and regulations to build a team of more robust and versatile universal seafarers.
During the year, there was a focus on mandatory functional and HSSE training for safe and efficient management of the ships and staff on board, with an emphasis on leadership and talent development. This included ship to shore attachments, shore conferences and engagement sessions for officers and ratings, as well as attachment with our partners for the development of next generation ship management tools.
The structured training ensured that they are equipped with sufficient knowledge and skills to adapt to changing regulatory environments, new engine developments, new digital tools, communication protocols and crisis management.
On top of that, leadership programmes were also conducted with the aim to inculcate the right culture, beliefs and values ethics, and behaviour in developing the next generation of leaders.
Following the Group, Eaglestar also has a structured staff succession planning process to support staff development that will prepare them to take on more challenging or higher jobs, where gap assessment and identified interventions are critical elements of the succession planning process.