Family and Well-being
The capability and readiness of the organizational structure and personnel of the Company to adapt to changes in the current era is what drives the Company forward efficiently and sustainably. In the core pillar of “Family and Well-Being,” Thai Wah is devoted to developing the potential of associates and elevating the quality of life for everyone in all aspects, ranging from health and well-being to the workplace and environment, extending to welfare, respecting human rights and gender equality, emphasizing associate involvement, promoting them to feel secure at work, and a commitment to advancing careers. In addition, the Company continuously promote a learning environment that emphasizes creative thinking, where every associate receives support to develop and showcase their potential. All of these efforts will help them achieve greater success and contribute positively to the success of the Company.
The Company prioritizes providing a positive work environment and ample opportunities for personal development to every individual within the organization. The Company has undertaken improvements and changes in various aspects to address the behavioral changes of its workforce under the “3 Rights Core” principles: Right People, Right Quality, and Right Place.
The importance of promoting equal practices and supporting diversity within the organization, starting from the recruitment of associates, extending throughout each working day, the Company welcomes feedback and suggestions from all associates to continually enhance and improve efficiency. This allows individuals of all generations to coexist with Thai Wah, and actively participate in sustainable changes.
Diversity and Inclusivity
Thai Wah is committed to supporting diversity and associate inclusion. The Company takes pride in being an organization that upholds fundamental rights for everyone, prioritizing uniqueness and diversity that each associate brings to the organization. To achieve this goal, the Company reviews and ensures fairness in hiring practices, as well as in all aspects of its operations, upholding justice, equitable and non-discriminatory practices.
On-boarding Program for New Associate
The Internship Program and Knowledge Exchange Activities
Thai Wah provide not only a dedicated focus on developing the readiness and abilities of the associates but also emphasize the importance of new generations who will drive the industry in the future. This initiative is geared towards preparing for the workforce of the future. The Company has initiated an internship program for students interested in various fields. In the year 2023, the Company welcomed 38 students from Thai and international educational institutions to participate in its internship program.
Additionally, to support students in diverse groups in 2023, the Company organized knowledge-sharing and experiential activities for student by the representatives from the Company, presented the application of educational knowledge in the workplace including exchanging ideas with university students on the following topics;
- The use of GIS technology in agriculture and sustainability businesses with the Faculty of Geoinformatics Burapha University.
- Bioplastic from renewable sources with Suranaree University of Technology.
- Utilizing cassava starch and modified cassava starch in food applications with King Mongkut’s University of Technology North Bangkok and the Institute of Field Robotics, King Mongkut’s University of Technology Lat Krabang.
- Business and marketing development With the Co-operative Education Programme at The Chinese University of Hong Kong (Co-op@CUHK)
- Sustainable development innovation and strategies with the group of Wharton MBA students participating in Global Modular Courses (GMCs) to visit and discuss with leaders in various industries where Thai Wah represents the agriculture and food industry.
Strengthening and developing personnel through upskilling and reskilling to enhance skills for the roles, fostering creativity and innovation freely, and increasing capabilities, leading to outstanding performance and competitiveness. This also includes preparing for effective role transitions.
Thai Wah Leadership Academy (TLA)
In 2023, Thai Wah focused on developing three key areas: 1. Growth Mindset, 2. Change Management and Leadership, 3. Effective Self-Leadership, through blended learning. This includes online learning, virtual classrooms, experiential learning and the community of practice (Community of Practice). TLA offered more than 30 classes with over 500 associates registered in various courses based on their interests.
Building a Strong Leadership Pathway
In the year 2023, Thai Wah established an internal assessment center to identify individuals suitable for managerial roles and to prepare associates for growth. This initiative aimed to cultivate an organizational culture that prioritizes internal talent development. The benefits gained from conducting the Internal Assessment Center included;
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Incentive Compensation Management
The Company manages and motivates associates to create innovative work and improve tasks that support Thai Wah’s goals and drives the organization towards high-performance organization while pushing associates to continuously develop themselves. Thai Wah implements policies and compensation systems rooted in the ‘Pay-for-Performance’ principle, guaranteeing fairness and competitiveness relative to both similar and diverse industry counterparts. These policies and systems align with job types and job performance. The Company has reviewed and updated the salary structure and has a performance evaluation system for associates, including self-evaluation, 360-degree feedback, and performance confirmation through a calibration process at all levels within departments, across departments, and throughout the organization.
Thai Wah creates a work environment and organizational culture that supports our associates to fully engage in their work, enhancing efficiency and consistently inspiring creative and quality work. This is achieved through associate participation, fostering associate commitment, and promoting activities that enhance the quality of life in various aspects.
Women’s Empowerment Principles (WEPs)
The Company recognizes the necessity of instilling a culture of embracing diversity and supporting equality in all aspects, elevating the quality of life and values of associates. To achieve this objective, the Company works diligently in promoting and developing the leadership of women through standardized assessments and provides necessary facilities and resources in creating a safe and healthy working environment. In doing so, the Company is dedicated to empowering its female associates, supporting them in reaching their full potential and recognizing the value of their capabilities. In the year 2023, female associates constituted 50% of positions at the managerial level and above and represented 44% of senior management positions.
Creating Good Experiences to Enhance Associate Engagement
Building on the results of the associate satisfaction and engagement survey in 2022, Thai Wah has developed a comprehensive action plan at both the organizational and departmental levels. Strengthening the organizational culture for a better workplace environment fostering flexibility, safety, and inspiring all associates.
- Corporate Action Plan
Thai Wah has formulated a corporate action plan to create a sense of belonging within the organization and increase job satisfaction. Enhance work efficiency and retain high-quality associates within the organization such as
1. Promoting opportunities for growth and learning
- Improve the Performance Management System (PMS)
- Review the promotion process and Associate Recognition Award (ARA) awards
- Clearly communicate criteria of performance review
- Enhance capabilities of people manager for new generation leader
2. Develop more efficient work processes
- Establish practical and up-to-date SOPs
- Utilize SharePoint as a digital platform for sharing essential information across the organization
3. Create driving forces for growth
- Prepare clear Job Descriptions
- Report market situation data during the monthly Business Review meetings
4. Update overall compensation to align with objectives
- Inspect and improve welfare benefits
5. Foster inspiration and understanding
- Execute campaigns to communicate Vision & Mission
- Conduct quarterly Townhall meetings to announce the Company’s direction and update business performance
- Establish internal communication channels within the organization
- Function/Business Unit Action Plan
Thai Wah appointed “Engagement Champion” in each department to spearhead the creation and implementation of development plans to address specific needs and foster differences in each department. All development plan outcomes were successfully implemented, achieving 100% realization in 2023.
Promoting the Quality of Life for Associates
“Good health and Well-being” are set as one of the 17 Sustainable Development Goals of the United Nations, it is also emphasized by Thai Wah in the year 2023 because the health of associates is another factor that significantly influences the sustainable growth of the organization.
In addition to the policies and welfare of the Company related to the quality of life and well-being of associates, Thai Wah also initiated the associate Well-being program, focusing on promoting various aspects of associate health within the organization. This program plays a crucial role in the organizational development strategy to sustain the business and drive forward in a stable manner through well-being projects and activities covering 4 dimensions: Physical health well-being, mental well-being, Financial well-being, Social Wellbeing.
My Thai Wah
In the dynamic landscape of today business, organizations are constantly seeking innovative solutions to enhance efficiency and streamline their operations with the primary aim to support the business goals. One key area that has seen significant transformation is our people process where the advent of new Human Resource Information System (HRIS) platforms; MY Thai Wah, is revolutionizing the way we manage our people-related processes. Launched on 16 November 2023, we have consolidated all people-related modules in one centralized system. From recruitment and onboarding to performance management and payroll, these platforms bring together disparate HR functions into a unified, easily accessible space, minimizing the need for excessive paperwork and simplifying bureaucratic processes.
The Company has placed importance on human rights management in compliance with the business code of conduct and international human rights standards. The Board of Directors and/or senior management are expected to monitor and ensure that human rights are not violated in any of the Company’s activity, nor human rights violation due to any act or decision made by the Company.
The Company has formulated a policy on corporate responsibility to respect human rights. The aim is to undertake comprehensive measures related to human rights by adhering to the United Nations Guiding Principles on Business and Human Rights (UNGP) as a framework for human rights management. The policy includes analyzing and gauging human rights risks, risk management, and constant monitoring of and reporting on related progress. Thai Wah’s key human rights issues are forced labor, human trafficking, and illegal child labor.
In demonstrating consistent commitment to addressing the above issue, the Company has formulated a plan to uplift responsibility and transparency in the supply chain, disseminated policy, and practices on sustainable procurement to business partners. By providing the training and enhance knowledge of key business partners for them to conduct self-assessment on sustainability, assessed key business partners, on sustainability, and supplied main raw materials from responsible agricultural sources. Those who wish to become future partners will have to sign an acknowledgment of human rights and good labor practices and to comply with the principles set by the Company strictly. With our commitment and care, Thai Wah has also implemented workplace safety, health, and environmental policy in accordance with related laws and standards for all employees and business partners to work in a safe and happy environment.
The Company has placed priority on fair treatment to the employees on the basis of international human rights standards, with the clear policy on nondiscrimination in the process related to recruitment, employment, compensation and benefit payment, trainings, job assignment, and promotion. The Company commits to provide facilities necessary for their work, and promote safe and healthy work environment. Participatory culture is also encouraged for the development of their quality of life and value, and public mind, thus, enabling our people to have a sense of their worth and reach their full potential.
We have continued to implement our policy on human rights and have yet to witness any case that business operation is held accountable for human rights violation. Nevertheless, the Company has provided various channels to receive opinions and suggestions from the employees, such as the Intranet and Suggestion Box.