Our People Working Group is comprised of 26 representatives from distinct functions within the Company. Its primary responsibility is to achieve progress in the six focus areas of the People Pillar: Talent Attraction, Talent Management, Rewards, Occupational Health and Safety, Diversity and Inclusion, Workplace Wellbeing and Volunteering.
In 2023, we also continued to work towards achieving our 2025 KPIs. Our focus area expanded to encompass the workplace wellbeing of our employees reflecting our recognition of the crucial role that employee wellbeing plays in fostering a thriving and productive work environment. The new Workplace Wellbeing Framework was introduced, seeking to enhance the work process, resources, communication, policies and practices and physical work environment.
Our progress towards our 2025 KPIs is summarised in the table below.
Learning and Development
2025 KPI
- A 25% increase in training hours per employee per year3
Progress Updates in 2023
- Delivered 157,955 training hours in 2023, an average of 23 training hours per employee. This is an increase of 89% compared to our 2016 baseline year.
Engagement
2025 KPI
- Achieve an employee engagement index rating of 90% or above
- Improve employee turnover rate by 5.5%4
Progress Updates in 2023
- The results of our 2023 People's Engagement Survey, conducted in January, recorded an 89% employee engagement index rating.
- The turnover rate in 2023 was 15.5%, a 34.2% improvement compared to our 2018 baseline year.
Safety
2025 KPI
- Maintain a lost time injury rate (“LTIR”) below 1.2 for non-hotel operations; and at or below 2.0 for hotel operations
- Maintain zero work-related fatalities and zero serious incidents5 for employees
Progress Updates in 2023
- In 2023 we recorded an LTIR of 0.64 for Swire Properties’ non-hotel operations and an LTIR of 1.16 for Swire Properties’ hotel operations.
- We maintained zero serious incidents and zero work-related fatalities in 2023.
Policy, Strategy and Governance
2025 KPI
- Maintain a female representation of no less than 40% in the workforce
- Maintain a gender balance in senior management
- Maintain gender pay ratio at 1:1
Progress Updates in 2023
- 41.9% of the workforce is female.
- 42.9% of senior management positions were held by women in 2023.
- The gender pay ratio in 2023 was 1:0.92 (female to male).
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