We place considerable emphasis on having a collaborative and transparent relationship with the regulators in our markets. As an example, our employee relations manager in Taiwan was appointed as a certified Mediator by the Council of Labour Administration. This honorary position supports the Council in resolving arbitration cases involving employment and labour related matters. We are proud to be the first and only foreign bank to be given this opportunity.
We have successfully negotiated leading practices with our unions in some of our key markets. Examples include implementing a performance based reward for unionised employees in Indonesia and Pakistan; aligning union reward structures with the Group’s guidelines in Malaysia and African countries; and achieving parity in reward structures across multiple unions in India.