Sustainable Management in The Societal Aspect
Sustainable Management in The Societal Aspect
The Company operates its business with due regard to social values. The Company is committed to develop its business for sustainable growth, by offering quality products, being honest in its profession, and being responsible for the development of society at large through the following societal policy and guidelines.
The Company is aware of the importance of the respect for human tights, human dignity, and fundamental rights. The Company is committed to fair and equal treatment of all. It has also mandated that treatment between employees be so in a respectful manner. Moreover, the Company gives importance to labour issues. Fair and equal treatment is observed throughout the entire procurement process. There is no discrimination from selection, remuneration, performance assessment, among others. The Company also promotes human rights. It will not engage in any act that violates human rights. It will not use forced labour, irrespective of its form, or labour from human trafficking, or illegal child labor.
Employees are considered the most valuable resource, and is a key success factor. As such, the Company is committed to develop and fortify a good corporate culture and working environment. It promotes teamwork and building of goodwill and unity within the Company. Employee treatment is merit-based. Moreover, the Company attaches importance to clear and tangible promotion of health, safety, and the environment with respect to employee work conditions. As such, it has adopted the following practice.
- Treat employees with respect. Respect the honor, dignity, individuality, and human rights of employees.
- Protect the personal data pf employees by limiting the disclosure and use of personal data such as family history, salary, performance assessment results, and medical history to Company personnel on a need-to-know basis. Personal data of employees will not be disclosed to any third party without the prior consent from the employee, unless required by law.
- Provide equal opportunities in employment, appointment, and relocation, as well as award, compensate, or sanction with honesty and on the basis of their knowledge, skill, and capacity, as well as Company rules, without regard to gender, nationality, ethnicity, religious, or belief.
- Fair remuneration of employees. Remunerate employees at the rate over that stipulated in the law, both for long and short term employment, taking into consideration the Company’s and the employee’s performance. The Company will manage the remuneration, salary, and benefits so as to incentivize and retain knowledgeable and skillful employees with the Company.
- Ensure that the working conditions is always safe to the life and property of the employees. Ensure occupational health and provide employee welfare and benefits, such as provident funds, medical care, annual health checkups, marriage monetary gifts, funeral monetary contributions, provision of accident and health insurances. The Company also continuously communicates to employees to make use of the benefits, so as to maintain a good quality of life.
- Attaches importance to the development and increase of skill and potential to prepare readiness for professional growth, by continuously and comprehensively providing opportunities for employees to learn.
- Uphold strict compliance with laws and regulations relevant to employees and avoid engaging in any act that is unfair or that will adversely impact employees.
- Cultivate and create moral consciousness in sharing, giving, respect towards each other, and being a good citizen of society.
- Determine policies on safety, health, and the environment in employees’ performance of work and ensure that employees strictly observe such policies. The safety policy is as follows.
- Committed to supporting Company activity simultaneously with compliance to safety laws and relevant regulations.
- Providing that occupational safety is the first responsibility in all performance of work for all employees.
- Providing that supervisors in all levels must lead by example, and teach, train, and incentivize employees to perform work safely.
- Providing that all employees be concerned about the safety of themselves, their colleagues, and of the Company property at all times.
- Providing that all employees maintain the cleanliness and orderliness of their working area.
- Committed to promoting safety activities which boosts, promotes, and develops consciousness of employees to be safe at work.
- Committed to promoting the continuous review, improvement, and development of safety management systems.
- A Welfare Committee elected by employees is established to monitor and represent the employee body in negotiating benefits with the Company.
The Company is committed to achieve customer satisfaction, which has an impact towards the success of the Company’s business. The Company therefore continuously seeks ways to efficiently and effectively meet the needs of customers. It has put into effect an after sales service system to maintain amicable relationships in the long term. The Company has thus established the following operational guidelines.
- Deliver products and services which are of quality, meets or exceeds the expectations of the customers at a fair price. The products and services must be safe, not dangerous to the health of the customers, and reliable. The Company does not limit the customers’ right to access its products and services, and determines fair trade conditions for customers.
- Provide accurate, sufficient, and up-to-date news and information to customers to prevent any misunderstandings in the quality, quantity, or any conditions of the products or services without distorting the truth.
- Correspond with customers respectfully, effectively, and create reliability for customers. Respond to the customers need promptly to ensure maximum customer satisfaction.
- Effectuate a data security system for customers. Take care to not allow any customer data or secrets to be used for the illegal benefit of any party. The Company will not disclose customer information without prior consent from the customer or the Company’s authorized representative, unless required by law.
- Prepare a document introducing the service team personnel to customers after transfer of ownership. Monitor and conduct a survey on customer satisfaction. Foster relations with residence and support customers; social responsibility activities as well as to the environment.
- Make available a channel for customers to make recommendations and file complaints and report problems in connection with the Company, or to request assistance and advice on all matters relevant to the Company.
The Company adopts a policy to observe fair and equal treatment of business partners. In taking all actions, consideration must be given to reputation, and compliance with laws, rules, regulations, and significant customary practice, as well as the promise given to business partners. Consideration must be given to equality in business operation and the mutual benefits of business partners. As such, the following guidelines have been adopted.
- The Company treats business partners with equality under the same conditions so as to be fair to all parties.
- Provides an opportunity for new business partners to collaborate with the Company, to ensure skill development and the adoption of new technology. The business partner selection procedure is fair, transparent, and accountable.
- Provide truthful information and reports to business partners.
- Not request, accept, or pay any benefits which are not of honest trade practices to business partners. To prevent unfair practices, the Company prohibits the acceptance of any property or benefits from business partners or other persons with a duty or business related to the Company. Gifts received as part of general customs, such as in New Year’s, shall be forwarded to the human resources division for common use in the Company.
- Promote business partner cooperation in the prevention of corruption by not providing any form of bribery to governmental officers or to employees of the Company to provide any advantage in any case whatsoever.
- Strictly comply with agreements and all agreed terms and conditions. In the case it is not able to do so, the business partners shall be notified so as to jointly resolve the matter on the basis of business relations.
- Determine a clear and timely due date for payment of product price and service remuneration.
- Take care and assist business partners to be able to operate its business simultaneously with the business of the Company, without taking unfair advantage thereof.
- Provide channels through which business partners can raise complaints on unfair treatment, whereby complaints can be directed to the chief executive officer, the head of the audit committee, and the head of the internal audit team.
- Put in place measures to keep confidential business partners’ confidential information to prevent use of information of business partners for the benefit of any party illegally. Business partner information will not be disclosed without the consent of the business partner or from an authorized representative of the Company, unless required by law.
The Company is keenly aware that bribery and corruption are serious threats which undermine economic and social development and hinder the Company’s sustainable growth. Accordingly, the Company has prepared and declared a separate anti-corruption and bribery policy to lay down the details on the policy and measures in relation to anti-corruption and bribery. The main policy are as follows.
“No director, executive, or employee of the Company shall tolerate any form of corruption, whether in respect of governmental authorities, private entities, or persons directly or indirectly involved, to acquire business of the Company or for its own benefits which is not ethically appropriate, namely, promising to give or accept any item, gift, entertainment, donation, or any other benefit from the person in business.”
The anti-corruption and bribery policy covers all business partners, customers, and interested persons of the Company both domestically and abroad. The Company holds an examination on its anti-corruption and bribery policy on an annual basis to assess the employees’ understanding of the observance of the policy, and conduct risk assessment in relation to the likelihood of corruption, so as to be able to determine an approach and plan to prevent risks in relation to corruption, as well as to monitor the results of such risk management. The Company also trains employees on the anti-corruption policy and practice of the Company at least once a year.
The Company is always aware that it is a part of society, and thus has a responsibility towards society. Such responsibility includes the support of activities of the community to improve the quality of life and economic conditions of the community. The Company believes that to sustainably grow and survive in society, in addition to offering quality products and uphold professional integrity, the Company must also be responsible for the improvement of society at large. As such, it has laid down the following guidelines.
- Adhere to business commitments, taking into consideration the benefits and sustainability of the community, society, and the environment.
- Has a business policy which takes into consideration the community, society, and environment. Mandating that the operations relevant to the business of the Company shall not fall below the requirement by law and must comply with laws applicable to the real estate development business. Mandating that the business operation of the Company must be in compliance with environmental requirements and standards.
- Continuously raise awareness and communicate and educate employees on social and environmental responsibility to employees of all levels.
- Explore and become acquainted with the relevant rules and regulations to prevent operating business in a manner which impacts social or community way of life. Be respectful of the customs and traditions of each locality which the Company conducts business.
- Is able to adjust to changes and respond promptly and effectively to situations which impact the environment, the community, life, and property, as a result of Company operations. Cooperate fully with governmental authorities and relevant entities.
- Continuously organize activities which enhance the community and the environment to improve the quality of life of the community whether by itself or in collaboration with public and private sectors, and the community itself.
- Adhere to standard safety measure required by law.
- Support and promote cost effective use of resources. Improve the quality of life by addressing environmental problems. Consider that taking care of the environment is a responsibility shared by all.
- Develop projects which are able to enhance benefits to the community in a tangible manner. Monitor and conduct assessments in the long term.
Societal Performance
The Company considers employees to be the most valuable resources and is a key factor to the success of the Company. As such, the Company is committed to develop and foster a good corporate culture and working environment in addition to promoting teamwork, love, and unity within the Company. The Company has taken steps to ensure that the employee can grow with the Company in sustainable manner.
Employment
The Company follows guidelines in employee recruitment and hiring by considering the qualifications suitable to the job position without discrimination on the basis of diversity of the individual such as gender, nationality, religious, or political beliefs. The recruitment and selection process are fair and equal. Consideration is given to knowledge, capabilities, work experience, and attitude suitable to each job position.
The Company Hired
In 2022, the Company hired 453 employees, whereby 179 are male and 274 are female. It also hired 3 persons with disabilities, accounting for 0.66 percent. The diversity can be summarized as follows.
By Gender
By Level
By Age
Employee Development
The Company attaches important to continuously developing the skills, capabilities, and potential of employees in all levels in a manner which is appropriate to their positions to meet the business needs and to prepare for business growth. The Company is therefore committed to development personal in all professions and all levels, combing the development of skill, knowledge, and capability, as well as cultivate organizational culture and ethics simultaneously, so as to be in line with the Company Group’s business strategy and operational approach.
In 2022, the Company aimed to develop its human resources and organized, both internal and external, more than 60 training curricula with a target to encourage, educate, develop experience, skills, expertise in respective areas of work (up-skilling and re-skilling). The intention is to create awareness, a new attitude needed for the modern workforce for any level of employment as supportive and in alignment with the strategy of the business, increase career development and employee engagement which results in the unity to succeed as an organization. The methods include:
New employees are required to undergo orientation before commencing work. Orientation allows the employees to understand the fundamentals of the Company, such as the structure, work systems, rules and regulations, important policies, business operation, and products and services of the Company. The different units are also introduced to the new employees for convenience in contact and coordination.
The Company has a Training and Development Plan and Career Development Plan for executives and employees to grow in the organization and utilize their full potential in the performance of work, as well as create engagement with the organization, in order to meet the main strategies and goals of the Company in an effective and efficient manner. The approach to designing and developing the training curriculum is as follows.
- Core Competency
- Leadership Competency
- Functional Competency
To allow employees and executives to discharge their functions in coherence with the corporate culture, with skill, and professional capabilities in respect of the work responsibilities, with leadership and capability in management, to prepare for simultaneous growth along with the Company.
The Company’s management policy for high performer and high potential employees considers curricula and training according to the need for leadership, equivalent skills, knowledge, talent, modern leadership potential, development process, and progress tracking of the high potential group. The target is to widen career opportunities and build the next generation’s confidence to mobilize the organization.
The Company has a succession planning policy with respect to key management positions in the Company Group with respect to positions of chief executive officer, deputy chief executive officer, and chief operating officer, under the supervision of the Company directors, executive board of directors, and the selection and remuneration committee, and the chief executive officer. There is a clear framework for the succession plan, from the analysis and assessment of the work force to be in line with business operation and strategies of the Company Group, a plan in identifying and developing, as well as determining the qualifications and capabilities which is suitable for each position, and determine an individual development plan. A selection, performance and potential assessment will be carried out to identify the successors, to prepare for handover and study of work. Continuous development and assessment will be conducted to ensure that such successor will be able to succeed as expected.
In the year 2022, the Company has organized a total of 79 training courses for employees as follows:
Remuneration and Welfare Benefits
The Company attaches importance to payment of remuneration in the form of a salary. The salary structure is suitable for the labour market within the same business. The Company determines salary based on potential, responsibilities, and qualifications of each employee for each job position. The Company provides for an annual assessment for salary adjustment and bonuses in accordance with the annual performance assessment of the employee and the performance of the Company. There is a clear assessment system and performance index with respect to all employees so as to be fair.
Moreover, the Company has determined a suitable and fair welfare benefit for all employees in all levels, to take care of both short term and long-term employees as follows.
- For marriage,
- To show condolences I case a family member of the employee passes away
Moreover, the Company has established a welfare committee by employee vote. The welfare committee represents employees in voicing opinions on welfare and wellbeing policies of the Company.
Safety, Occupational Health and The Work Environment
The Company determines a policy on occupational safety, health, and environment, and monitors strict compliance with such policy both in the headquarters and in project offices in coherence with laws relevant to safety. The Company holds activities and communicates through the Company’s various channels, as well as trains employees to create awareness to all employees on the matter.
For what concerns the headquarters, the Company regulates workplace safety, determines a repair plan of the building, office equipment, electricity and lighting system, and fire pump system on an annual basis. The working environment is tidy and clean for good quality of work. Various sports activities are held to promote the health and wellbeing of employees, and employees are trained in safety, fire drills, and fire evacuations.
For what concerns the construction projects, the Company requires safety reports, inspection, training, recommendations, and addressing problems which might cause harm to the Company and contractors, to control the various aspects of safety while construction is ongoing. It also requires cleanliness and sanitary conditions in the projects and in nearby communities. Those performing work must exercise great care in all work processes. Safety gear must be worn, due care and expertise must be exercised in works which pose a risk of danger, to prevent harm to the worker and nearby communities. All construction projects are required to put in place a sign showing the safety statistics in front of the project to provide timely and continuous safety reports. This will foster trust of the safety of the construction works both to the worker and the nearby community.
Safety-related statistics of 2022
| Safety Information | Unit | No. of Employees | No. of Contractors | Third Party |
|---|---|---|---|---|
| Occurrence of accident | Time | none | 4 | none |
| Work-related injury | Person | none | 5 | none |
| Leave from work-related injury | Day | none | none | none |
| Persons on leave from work-related injury | Person | none | 1 | none |
| Work-related deaths | Person | none | 2 | none |
Occupational safety, health, and work environment measures during the Covid-19 pandemic
Measures at headquarters
In the situation of COVID-19 pandemic, although the situation has subsided last year, the Company is still aware of the employees’ work safety. Therefore, measures to control the spread of the disease have been more stringent. Employees at risk of the disease can work from home to reduce the risk of spreading while at the office and commuting. Meetings are held online using a variety of programs to limit physical gathering. Simultaneously, the Company provides regular cleaning, disinfection of office buildings, temperature screening before employees enter the office, handwashing stations, hand sanitizer to be distributed throughout the office, COVID-19 Antigen Test Kit (ATK) for employees at risk, booster vaccination for all employees including Company’s security guards and janitors. In 2023, 100% of all company employees received a booster vaccination.
In case an employee is infected with COVID-19, the Company takes care of its employee according to the Ministry’ of Public Health’s recommendations, provides a basic medication box, and checks up with the employee regularly.
Measures at construction projects
For construction projects, the Company has provided continuous support to the labour personnel of the contractors throughout the pandemic. There are temperature checkpoints before entry into the projects, handwashing stations and alcohol hand sanitizers dispersed in various locations in the project area, regular disinfection of the project area, and inspection of the control measures. The Company has secured vaccines for labour personnel of the contractors of the Company, security guards, and general workers of each respective project. It also strictly observes the measures applicable to construction workers announced by the government. The Company has provided food to promote health and safety of labour personnel of the contractor while in quarantine or when labour camps have been ordered to close.
Business Continuity Plan (BCP)
The Company has prepared a business continuity plan as a guideline for situations of crisis or emergencies whether caused by natural disasters, accidents, or malicious actions against the Company Group without allowing such crisis or emergency situations to result in the Company Group having to stop its operations or to not be able to provide continuous services.
The business continuity plan of the Company is used to address situations of crisis or accidents in the Company’s office area or within the Company group as can be summarized below.
| Impact | |||||
|---|---|---|---|---|---|
| Event of Crisis | Buildings/Main Work Location | Important Materials and Equipment | Information Technology and Important Information | Main Personnel | Business Partners/ Service Providers/Interested Persons |
| Fires | |||||
| Floods | |||||
| Pandemics | |||||
Employee engagement
The Company strives to enhance employee engagement to maintain retention rate and grow them with the Company. In 2022, the Company organized an engagement survey as a channel to receive employees' opinions and requirements for the Company. The 2022 employee engagement survey’s overall result 78.30%, which is considered high.
Voluntary resignation rate of employees (Turnover rate) in 2022 as follows:
| Proportion of employee | Amount (persons) | Percent |
|---|---|---|
| Number of employees resigned | 91 | 21.93 |
| By level | ||
| High level management | 0 | 0.00 |
| Mid-level management | 6 | 6.59 |
| Manager and up | 33 | 36.26 |
| Operational | 30 | 36.26 |
| Contract-based | 22 | 24.18 |
| By work period | ||
| 5 years and above | 2 | 2.20 |
| 3 - 5 years | 10 | 10.99 |
| 1 - 3 years | 16 | 17.58 |
The Company Group aims to create and develop real estate projects to deliver products and services that are diverse and suitable for customers to the greatest extent possible. The Company believes that customers are key in our creation and development of good residences which are able to fulfill all the needs of the residents, under the slogan "YOUR BEST CHOICE - Delivering the best residents to customers in various aspects as follows.
Product and service development
The Company strives to continuously develop high-rise residential buildings and low-rise prime location projects to cater the needs of modern society. We aim to deliver quality and happiness to customers under the “We Build Happiness” concept.
Design and create common spaces to cater to different lifestyles and generations
The Company gives importance to designing and creating common areas to truly fulfill the desires of residents and create happiness with 5 key concepts, a variety of styles to keep spaces afresh, spacious library for learning from home, meeting room for online meeting needs, and living lounge for working from home.
Business innovation
“Wisecology” is a concept of a good living quality that creates environmental sustainability, a healthy city, a pleasant and safe environment. By using technology, lifestyles, and the environment to elevate the quality of life based on 3 core concepts as follows:
Smart living “creating a convenient and safe society”
with easy transportation, amenities for future lifestyles, and technology to aid safety:
- Convenience lifestyle: amenities to add convenience to any lifestyles, surrounded by important landmarks
- Definition of relaxing: designing residence and department store on the same premise surrounded by shops, restaurants, amenities, and green environment – a perfect one-stop living sphere
- Transportation center: connecting future transportation links for convenience
Environmentally friendly “Think for the World”
in addition to expanding green spaces within the project so that residents can live sustainably, the Company also uses the Growgreen concept to build community within the residential project that promotes the quality of living residentially, environmentally, and socially using the following 5 core concepts:
- Energy Efficiency: Design for efficient building’s energy consumption
- Waste Management: Make waste management more efficient
- Green Space: Eco-friendly green space design and construction
- Clean Air: AssetWise cares about clean air, so we choose construction materials that reduce the amount of pollution in the air
- Water Saving: Efficient use of water
Sustainable Life “Think for All Generations Today and Tomorrow”
design spaces for all generations with “All Gens Series'' under “Multi-dimension for Multi-lifestyle” concept with functions such as Extensive Space, Adaptive Design, and Flexible Lifestyle. Additional functions are included for a healthy lifestyle such as Ensured Safety and Health, AssetWise Health Station for everyday health checkup, Application for Health by company’s medical partners, Telemedicine to connect with doctors 24/7, and DoCare by SCG – a technology that keeps residents safe and healthy to match modern lifestyles.
Strengthen Sustainability
AssetWise Club - community for the Company’s customers
The Company's expanded network of customer relationships, “AssetWIse Club”, is used to share activities, information, benefits, and customer privileges. In 2022, the following activities and benefits were awarded to customers:
Channel for customers to provide opinions, report complaints, or make suggestions
The Company provides the opportunity for customers to express their opinions, report a complaint, or make recommendations to the Company whereby the Company will analyze the comments or recommendations to develop and improve products and services to achieve maximum customer satisfaction.
- Call Center: 02-168-0000
- www.assetwise.co.th
- Facebook: AssetWise
- E-Mail: contactcenter@assetwise.co.th
In 2022, the Company received 655 complaints from customers through the available channels, with details of important matters as follows.
- Employee-related complaints: 317 cases, comprising 315 cases of AssetWise Public Company Limited employees and 2 cases concerning employees from the Company Group.
- Project related complaints: 338 cases, comprising 289 cases of complaints about the project, both in respect of the unit and the surrounding area of the project, such as repair notifications, delayed repairs, parking problems and problems related to the community surrounding the project, and 38 cases of complaints about advertisement billboards.
- Mingle Mall / Mingle Market complaints: 11 cases, comprising 2 cases from noise levels from construction and music, and 9 complaint about a store within Mingle Mall/Market.
After receiving complaints from customers, the Company has established the following procedures to address the complaints.
- The unit which received the complaint coordinated with relevant parties to contact customers within 1 hours.
- Follow up on the conclusion of complaint resolution from related parties after receiving complaints for the purpose of recording and following-up on the results of complaint resolution in accordance with the respective remedial plan.
- After resolution of the complaint, the unit that notified the evidence of correction to the unit which received the initial complaint to close the complaint in accordance with the period confirmed with the complainant.
- Incorporate the complaints into a Q&A to communicate in the event such incident arises again in the future.
Customer Satisfaction Survey
In 2022, the Company conducted a customer satisfaction survey for customers that visit the residential projects and customers that live in the residential projects. The results for each aspect are as follows:
Average Overall Satisfaction Score
Prior to the development of every project, the Company Group has taken account in the impact to the nearby communities by following the guidelines in the EIA report, from analyzing the impact caused by construction to the nearby community by conducting a survey to gather opinions and needs of the community, planning to prevent the potential impact that may occur from the community, setting guidelines in remedying the damage caused to the community, in addition to improving and promoting the nearby community’s quality of life.
In 2022, the Company Group did not receive complaints from the community regarding societal and environmental impacts caused by project construction.
Being involved in community and societal developmentIn 2022, the Company Group organized the following projects or activities to assist and develop the community and society.
The Company partnered with Bhumibol Adulyadej Hospital to offer blood donation points through “A Drop of Blood for a Friend’s Life” campaign and invites its employees, suppliers, residents in the area near the headquarters, and the public to donate blood. In 2022, the Company hosted 4 events that attracted 495 participants and collected a total amount of 159,300 cc of donated blood.
The Company recognizes that water is one of the most basic needs of humans. In 2022, the Company donated 4 cold drinking water dispensers for park visitors in Bangkok to encourage them to exercise and reduce container waste. The parks included in this campaign are Ramindra Sports Park, Watcharaphirom Park, Wachirabenchatat Park, and Sirindhorn Flora Park. The Company plans to donate a total of 10 cold drinking water dispensers by 2023.
As part of the Company’s social and environmental support, the Company joined forces with Pankan shop operated by Yuvabadhana Foundation to donate good-condition items to be sold for the national youth’s education funds. On top of supporting education, the initiative also helps reduce waste from clothes. A donation point was piloted at the headquarters as well as a “Pankan X AssetWise” shop opened at Mingle Mall in October 2022 with plans to expand to AssetWise’ residential projects in 2023.
Veggie farm is an initiative that employees plant vegetables around the parking area together to create a sense of co-ownership. Once ready to be harvested, the produce can be shared across teams. Furthermore, the Company also organized activities to grow indoor hydroponic vegetables using rotating crops to provide vegetables throughout the year for employees to consume. This initiative serves to encourage a healthy lifestyle and reduce the cost of living for the Company employees.
The Company provided plastic waste sorting stations at the headquarters to collect, clean, and deliver to Corsair. The plastic waste was recycled into 55.5 kilograms of bio-oil.
The Group helped flood victims by donating rice, dry food, and instant food to the following communities:
- Bang Phun Municipality Community, Pathum Thani.
- Pikul Thong Sub-district Community, Tha Chang, Sing Buri.
- Wat Bot Intraram Community, Chang Noi, Bang Sai, Ayutthaya.
