Interfront 2023 Annual Report

18 INTERFRONT ANNUAL REPORT 2023 HUMAN CAPITAL MANUFACTURED CAPITAL INTELLECTUAL CAPITAL OUR ENABLERS COMPRISES STAFF AND CONTRACTED RESOURCES. INTERFRONT DEPENDS ON THE WELL-BEING AND ENGAGEMENT OF EMPLOYEES TO GENERATE VALUE. INVESTMENT IN THE PURCHASE, DEVELOPMENT AND MAINTENANCE OF PROPERTY, PLANT AND EQUIPMENT THAT ENABLE THE CAPACITY TO GENERATE LONG-TERM RETURNS. THE SKILLS AND KNOWLEDGE OF WELL-TRAINED STAFF, WHICH CONTRIBUTE TO BUILDING A TRUSTWORTHY BRAND AND REPUTATION. OUR ACTIVITIES • Bursary Programme. • Internship Programme. • A skilled and diverse executive leadership team, living the Interfront values. • Adopting policies and practices to enhance retention. • Competitive and market-related remuneration. • Skills Competency Framework. • Growing and supporting employment equity (EE) representation. • Fostering staff engagement. • Reducing staff turnover. • Leasehold improvements. • Replacing redundant computer equipment. • Procuring the latest antivirus software. • Upgrading the connectivity between the production and disaster recovery environments. • Continued investment in software licences. • Ongoing training and development of staff. • Re-training staff and developing skills from within Interfront to ensure the up skilling and relevance of skills. • Providing financial support to staff in the form of formal study assistance to pursue a degree or qualification aligned with their position in the company. • Encouraging staff to belong to professional bodies, and paying for their membership. • Contracting external development services at peak delivery times. OUTCOMES • Staff turnover decreased from 17.48% (2021/2022) to 14.12%. • Average staff numbers increased from 109.3 (2021/2022) to 155.9. • R177 050 paid in bursaries. • Training and development expenses on the Graduate Internship Programme R67 182. • Performance rewards paid: R5 302 926 • Personnel expenditure: R125 468 519 • Long-service recognition for staff employed by Interfront for five years or more. • 77% of Interfront employees are EE candidates. • Assessing cloud landscape options which could lead to reduced costs resulting from expensive hardware upgrades. • Latest antivirus software allows for better monitoring and control of security threats. • Upgrading connectivity leads to substantial improvements in backup and replication processes. • Investment in staff development and training: R431 176 (2021/2022: R381 160). • Professional membership fees: R22 477 (2021/2022: R21 107). FUTURE AND ONGOING ACTIONS TO ENHANCE OUTCOMES • With an Employee Engagement Survey completed, develop and implement a plan to address matters raised in the survey. • Review and update policies and processes to remain relevant. • Work at becoming an employer of choice as part of Interfront’s retention strategy to reduce staff turnover in a highly competitive market. • Complete and implement the Skills Competency Framework for less critical skills. Refer to Part D: Human Capital Management and Part E: Financial Information for further details. • Review usage of software to ensure relevance as well as prevent the over-supply of licences. • Upgrade laptops. • Procure hardware and software for the new team members. Refer to the section on Information and Communications Technology (ICT) in Part B: Performance Information and Part E: Financial Information for more information. • Provide technical staff with more opportunities to attend to Research and Development. • Offer ongoing training and development of staff to ensure a high-performance culture and retention. Refer to Part D: Human Capital Management for more information.