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Employee Welfare and Well-being

Commitment


To promote a happy and innovative work environment to foster all aspects of employee well-being, enhance relationships and engagement with the Bank, and sustain long- term productivity.

Materiality


Employees are at the heart of the Bank and their support is essential for its success. Equitable and fair treatment of employees, giving appropriate remuneration and benefits, promoting occupational health, and providing safety and wellbeing for employees would contribute to the good physical and mental health of employees. These would instill in employees the sense of attachment and loyalty to the organization and motivate them to strive to excel in their performance to their fullest potential, leading to sustainable growth and consistently good performance of the Bank. On the other hand, discriminatory practices, inadequacy or inappropriateness of welfare allocation, or failing to provide occupational health, safety and wellbeing for employees could result in poorer employee performance, higher turnover rates, and increased absenteeism due to illness and workplace injuries. This, in turn, could result in a decline in employee morale, higher operational costs, loss of competitive capabilities, and ultimately hinder the Bank’s ability to achieve its goals. For these reasons, the Bank has identified employee welfare and wellbeing as one of the materiality issues of the Bank and strives to ensure that there is ongoing and systematic management and monitoring on this.
Management
The Bank respects the rights of employees and treats all employees equally without discrimination on the grounds of gender, race, religion, education, skin color or sexual orientation. We strictly comply with labor laws and internal rules and regulations including those relating to employment, working conditions, compensation, welfare, and occupational health and safety in the workplace. We also reject all forms of harassment whether verbal, physical or sexual, which could lead to psychological or physical damage. The Bank places importance on promoting gender equality by providing equal and fair opportunities for skills and knowledge development and career advancement.
Remuneration Welfare and Other Benefits

We provide appropriate and fair remuneration, welfare and benefits to employees1 , without discrimination regarding gender, age, religion or ethnicity. Furthermore, provision of remuneration, welfare, and benefits is aligned with prevailing economic conditions, cost of living, and at a rate commensurate with other leading commercial banks in Thailand. We regularly review our remuneration, welfare and other benefits to ensure that employees have a good quality of life, are motivated to work at their highest potential, and are engaged in contributing to the Bank’s long-term success.

Remuneration

We determine employee remuneration based on performance, skills, experience, roles, and responsibilities, with the goal to motivate employees to continuously develop their skills and improve their performance. Additionally, we take into account the wellbeing and morale of employees working in high-risk locations, such as Thailand’s three southernmost provinces. Additional remuneration is specially provided to support them and keep up their morale.

Employee Loans

We offer employee loans with special interest rates and flexible repayment terms to promote financial security and enhance their quality of life. The employee loans aim to relieve financial worries and alleviate the financial burden for employees and their families. The employee loans cover loan purposes including home purchases, home repairs, home renovations, purchase of cars and motorcycles, children’s education, family medical expenses, essential living expenses, postgraduate education, repayment of debts to creditors outside the Bank, and emergency relief due to natural disasters. Loan approval is carefully considered based on existing liabilities and the employee’s repayment capacity, ensuring that employees are not burdened by excessive debt.

Other Benefits

We provide a comprehensive range of employee benefits, covering statutory benefits, as well as those which are more than that required by law so that employees can achieve a good standard of living and have a good quality of life.

Flexible and Efficient Work Schedules

The advancement of digital technology and the evolving values of the new generation have driven the development of innovative work models and methods. We have accommodated these developments by integrating digital technologies, data storage and analysis systems, and Robotic Process Automation (RPA) into our work operations, thereby enhancing convenience, speed and agility, which leads to improved performance. Furthermore, in certain job functions, we allow employees flexible working hours as agreed upon with their supervisors. In some roles, such as advisers and medical personnel within the Bank’s healthcare units, they are permitted to work part-time. We also allow employees to wear casual attire on Fridays, promoting a more relaxed and comfortable work environment.

Healthcare Unit

The Bank has established a healthcare unit to serve as a center for the provision of comprehensive care and health services to employees. The healthcare unit provides the following services:


Medical Examination and Medical Reimbursement Services:


  • Healthcare Service
    We provide access to general practitioners, medical specialists and nurses for medical examinations, treatment and healthcare consultations to employees at no cost. These services are available at the Healthcare Unit on the 4th floor of our Head Office building.
  • Annual Health Check-up Service
    We provide an annual health check-up for employees, which includes complete blood count (CBC) for overall health, measuring fasting blood sugar (FBS), checking liver and kidney function, electrocardiogram, chest X-ray, plus anti-HBs check-ups every three years. In addition, male employees aged 50 and above are eligible for prostate cancer risk assessments, while female employees are entitled to screening for pap smear and breast cancer. The expenses incurred will be reimbursed at the Bank’s specified rate.
  • Quadrivalent Influenza Vaccine
    Annual influenza vaccination services are provided for employees to protect against seasonal flu outbreaks, with vaccinations administered at designated service points.
  • Medical and Dental Reimbursement and Referral Service for Treatment
    Employees who seek medical treatment at external hospitals or dental services can claim reimbursement for examination and medical expenses at the healthcare unit, in accordance with the rates specified by the Bank. In cases where hospitalization is required, employees may request a referral letter from the healthcare unit. The Bank will bear the associated expenses in line with the Bank’s criteria to help alleviate the concerns regarding healthcare costs for employees.

Counselling Services for Mental Health Issues and Stress Management

Stress from economic, social and work-related factors in this era can have a significant impact on employees’ mental health. To address this, the healthcare unit offers consultations with a psychiatrist at no cost once every week. Additionally, in case employees seek external healthcare services related to mental health, they may claim reimbursement for medical expenses in accordance with the rates established by the Bank. Moreover, the healthcare unit has introduced the iSTRONG Mental Health service, providing an additional channel for employees to receive counseling and support for their mental health concerns via online platforms. Experienced psychologists and psychotherapists are available to listen to employees’ concerns, offer support, and collaborate in finding the best solutions. This service provides a safe zone for employees’ mental health care, with all counseling sessions kept confidential and not disclosed or reported to the Bank.

Knowledge Sharing and Healthcare Training

The healthcare unit provides informative articles on illnesses, seasonal epidemics, and recommendations for maintaining both physical and mental health. These articles are regularly distributed through the Bank’s internal communication channels. We also invite external experts to disseminate knowledge to employees with guidelines to good health and guidance on preventing or mitigating various diseases. Furthermore, we provide both theoretical and practical training in basic first aid, cardiopulmonary resuscitation (CPR), and the use of automated external defibrillators (AEDs). This ensures employees are prepared to properly assist themselves and others in emergency situations before the patient is transferred to a hospital, hence increasing the chances of recovery or survival.
Employee Engagement Survey
The Bank conducts an annual employee engagement survey across various units, covering questions related to purpose and inspiration at work, job satisfaction, learning opportunities, happiness, work-related stress and remuneration. In 2024 the Bank set a target for employee engagement level of 70 percent, however, the survey results revealed an engagement level of 65 percent. The Bank will analyze the underlying causes, find solutions and implement strategies to improve the employee engagement level to meet the target.
Occupational Health, Safety and Environment in the Workplace
The Bank recognizes the importance of providing a safe and healthy occupational environment under the concept that safety is more than just following laws or regulations, and in fact is everyone’s duty and responsibility to make the workplace safe. The Bank is committed to upholding occupational health and safety in the work environment in order to protect the welfare of everyone, whether they are the Bank’s employees, customers, visitors, or others who come to work in the Bank’s premises. The Bank has established an Occupational Health and Safety Policy to provide a framework for occupational health and a safe work environment that is appropriate for the Bank’s premises and consistent with relevant laws and regulations. The Bank’s primary focus is on maintaining a safe and healthy working environment for all involved.

Occupational Health, Safety and Workplace Environment

Structure The operation structure for occupational health, safety and workplace environment consists of the Occupational Health and Safety Panel as well as the Occupational Health and Safety Committee (OHS) for each building.

  • Occupational Health and Safety Panel (OHS Panel)

    The Occupational Health and Safety Panel (OHS Panel) is composed of representatives from various units, including Compliance, Human Resources, Healthcare, Property Management, Employee Relations and the sustainability team. The OHS panel is responsible for ensuring the implementation of occupational health, safety and workplace environment policy. This includes identifying and assessing risks or hazards in the workplace, establishing appropriate risk mitigation measures, setting action plans and measurable targets, and driving and monitoring the execution of these plans to achieve the established goals. Furthermore, the OHS Panel oversees and monitors the activities of the Occupational Health and Safety Committee of each building to ensure compliance with legal requirements. The OHS Panel meets quarterly and duly reports the outcomes of these meetings to senior executives for acknowledgement.

  • Occupational Health and Safety Committee (OHS Committee)

    The Occupational Health and Safety Committee (OHS Committee) for each building is responsible for driving, overseeing and promoting safety within the buildings to prevent accidents, injuries and work-related illnesses, as well as fulfilling other duties as mandated by law. The committee reports its activities to the OHS Panel for review or to recommend the next steps. Additionally, the committee reports to senior executives if an employee experiences work-related injuries or illnesses, or whenever any indication of risks or hazards in the workplace has been identified.


Risk Assessment and Management of Occupational Health, Safety and Environment in the Workplace

We annually conduct risk and hazard assessments of occupational health, safety and environment in the workplace to identify and prioritize risks and hazards, determine proper risk management controls and measures, and formulate appropriate action plans to manage such risks and hazards. Over the years, we have continuously worked to enhance workplace safety and create an environment conducive to effective work. This includes regularly cleaning workplaces, upgrading equipment to ensure safety and suitability for various tasks, designing photocopying and shredding rooms to be separate from workstations, maintaining buildings’ air conditioning systems, and implementing fire prevention and suppression plans, which include arranging the workspace to minimize fire risks. We employ specialized contractors and external auditors to regularly assess the working environment, including the safety of the building, electrical systems, noise levels, and air quality in work areas, to ensure compliance with local laws and regulations as well as international standards such as Singapore Standard SS 544:2009 Code of Practice for Indoor Air Quality for Air-Conditioned Buildings. Additionally, when there is a case of an employee getting a work-related injury or work-related illness, we will investigate and analyze the causes, take corrective actions, and implement appropriate control and preventive measures.

Preparation and Response to Emergency Situations

We have established comprehensive action plans and ensure that all necessary equipment is readily available for immediate use to effectively respond to emergencies. Furthermore, we conduct annual fire drills and evacuation exercises across our office buildings and branches nationwide, enabling employees to appropriately manage emergency situations and mitigate or prevent potential damage.

Training on Occupational Health and Safety

We provide all new employees with basic occupational health and safety training, including the proper use of fire extinguishing equipment, fire evacuation procedures, and protocols for reporting fire incidents. In addition, we offer an Occupational Safety Officer training program to ensure employees fully understand the roles, duties and responsibilities of the Bank’s safety officers, as well as the regulations related to the safety of the Bank.


Employee Retirement Preparation and Post-retirement
Pre-retirement Preparation

We offer informational sessions for employees approaching retirement to help them prepare for a fulfilling post-retirement life. These sessions cover a range of critical topics, including the management of their provident fund and investment policy selection, maintaining and withdrawing from the provident fund, tax benefits for retirees, and financial management after retirement. In addition, we organize an annual retirement ceremony and activities to honor and recognize the contributions of retiring employees. This event also provides valuable guidance on post-retirement life, such as strategies for a fulfilling retirement, the Bank’s healthcare benefits, universal health coverage, social security pensions, senior citizens’ allowances, other government welfare benefits, and the retirement-related benefits and services offered by the Bank.

Post-retirement Care

Recognizing the value and significant contributions of employees approaching retirement, who have dedicated many years to the Bank, we organize an annual retirement ceremony and activities to honor their service. In 2024, during this event, we gave a commemorative gift and a special allowance of Baht 200,000 to retiring employees, in accordance with the Bank’s conditions. Additionally, employees with over 30 years of service are entitled to free healthcare services, including medical treatment and medication, to alleviate financial burdens and enhance the quality of post-retirement life. The Bank also supports the Bua Yai Club, a community formed by retired employees. The club serves as a platform for members to meet and socialize during important occasions such as New Year’s celebrations, Songkran festivities, and the Royal Kathin Ceremony. It also provides opportunities for members to support one another and their families as needed. Members of the Bua Yai Club enjoy various benefits, including access to the Bank’s healthcare services and a funeral assistance benefit of Baht 5,000. Furthermore, the Bank has established the Chatri Sophonpanich Fund to assist former employees facing financial hardship after retirement. The fund provides financial aid in the event of serious illness or death and offers educational scholarships for the children of retired employees.

Employment of Retired Employees

In 2024 the Bank launched the 60 YOUNG WOW project, offering two rounds of opportunities for retired employees who are still motivated to work, in good health and wish to create value for both themselves and the Bank as well as earn income post-retirement. This program enables retirees to return to work as contract employees in available positions during the designated periods. Participants will receive compensation and benefits as specified in the contract for each position.
Data of Employees

Diversity


Employees Data

Percentage

Age groups

< 30 years old

16.02

30 - 50 years old

57.51

> 50 years old

26.47

Gender

Female in total workforce

66.68

Female in all management positions

55.29

Female in top management positions

36.51

Female in junior management positions

57.81

Female in management positions in revenue-generating functions

53.50

Female in STEM-related positions

48.10

Nationality

Thai nationality in total workforce

99.71

Thai nationality in all management positions

97.55

Compensation and Welfare


Ratio of compensation of male to female employees

Executive level (base salary only)

1:0.57

Executive level (base salary + other cash incentives)

1:0.56

Management level (base salary only)

1:0.92

Management level (base salary + other cash incentives)

1:0.93

Non-management level (base salary only)

1:0.91

Mean annual compensation of all employees, except the CEO (Baht)

791,549

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