Significance & Commitment
Human capital is at the heart of sharpening the Company’s competitive advantage. The engagement of employees directly mirrors in their work efficiency and achievements. At the same time, navigating workforce diversity presents both challenges and opportunities. Banpu is committed to providing equal opportunities to all employees, regardless of race, nationality, language, culture, or gender. The Company believes that fostering a robust corporate culture is key for managing diversity effectively, strengthening employee engagement, and ultimately driving organizational productivity and success.
Management Approach
Under the “One Banpu, One Goal” principle, the Company aspires to develop employees into professionals with a shared vision and collaborative goals. With a commitment to providing equal opportunities to all employees, we foster a sense of unity through a diverse and inclusive workplace. This commitment is embodied in the corporate culture “Banpu Heart” which comprises 3 core values: Passionate, Innovative, and Committed, along with 10 key behaviors that guide daily actions.
“Banpu Heart” is embedded throughout the employee lifecycle, from recruitment and on-boarding to development and performance evaluation. Since 2012, the Company has engaged a third-party provider to conduct annual employee engagement and corporate culture surveys. The survey is offered in the local language of all countries where we operate to ensure thorough understanding and genuine feedback.
The Company has updated its Human Resource Management Policy to ensure alignment with the evolving business environment and changes in laws & regulations in each country. Emphasis has been placed on non-discrimination and anti-harassment policies. To prevent discrimination and harassment, the Company has established guideline that covers various aspects across the employee lifecycle, including recruitment & selection, training & development, performance management, employee compensation, and transfer & exit processes. Additionally, the grievance mechanism for addressing any incidents of discrimination or harassment has been developed and communicated to all employees.
To promote fairness and support the alignment between individual efforts and organizational goals, Banpu has implemented a structured performance management system. This system ensures that performance-based remuneration reflects each employee’s contributions and responsibilities. Performance evaluations are conducted twice a year and are categorized into four types: Management by objectives, Multidimensional performance appraisal, Team-based performance appraisal, and Agile conversations.
| Management by objectives | The Company’s performance management system consists of two sets of KPIs: work-related KPIs, which account for 70%, and behavior-based KPIs, which account for 30%. The behavior-based KPIs are measured by actions that demonstrate the corporate culture “Banpu Heart”. The Company promotes employees’ involvement in developing their own plans and KPIs by aligning their goals with those of the Company and their teams. Besides, the Company specifically assigned Leadership KPIs to middle management and above levels. |
| Multidimensional performance appraisal | The Company provides a 360-degree feedback process where colleagues, subordinates, and direct supervisors can evaluate work-related behaviors. The outcomes gained from these evaluations are utilized to provide opportunities for enhancing knowledge and skills. |
| Team-based performance appraisal | The Company has adopted a “Calibration” process across the organization. This approach is designed to ensure that performance outcomes are accurately aligned with the goals of respective departments and contribute to the broader organizational strategy. |
| Agile conversations | The Company encourages employees to have performance discussions with their supervisors at least twice annually to share opinions about performance evaluation, goals, and self-development strategies. There also are mentoring programs which serve as additional communication channels for self-development. These initiatives involve discussions with senior executives, who are not their direct supervisors, to gain diverse perspectives and enrich their professional growth through experience, knowledge, and skills enhancement. |