Page 119 - UBP - IR2020

CAPITAL REPORTS
We have started hiring younger generations to replace those leaving our Group This trend will be maintained over the next few years years as the youngest Baby Boomers are now 56 years years old (born in in 1964) Since the average retirement age age lies somewhere between 61 and 65 this could create some challenges for the Human Resource function if left unmanaged In the context of a a a a nationally ageing population it is imperative for us to replace our outgoing talent with the required skills and to continue renewing our workforce over the next few years for for a a a smooth transition At UBP where 21% of the workforce are Baby Boomers a a a Knowledge Transfer Programme is is being implemented This is also aligned with our strategic objective of ensuring proper knowledge transfer It is our aim to to extend the programme to to the whole Group Please refer to the Intellectual capital
on page 126 for further details
Developing our human capital
The total number of employees trained over the past three years has progressively increased For FY2020 the increase increase is mainly due to to Espace Maison’s focus on on its Customer Experience Excellence training programme This is is part of the 3-year journey initiated in in in FY2019 towards becoming a a a customer- centric organisation The three main components include the development of our sales force capabilities good product knowledge and and making the the Group’s values part and and parcel of the the work culture An internal coordinator was hired to to support the above initiatives The amount invested in in in in training per employee at Group level has increased by 122% In addition our per headcount training investment value has increased especially this year despite an increase increase in in in our total workforce These efforts are in in line with our Strategic Imperative of of upskilling our staff in in the use of of all digital tools and and encouraging autonomy and and analytical capabilities A better trained workforce will ensure productivity and efficiency as well as provide our employees with with an upward career path within the Group Marbella Division
UBP INTEGRATED REPORT 2020 - 119
FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS
GOVERNANCE APPROACH
ABOUT US INTRODUCTION