Interfront 2024 Annual Report

A B C E HUMAN CAPITAL MANAGEMENT Benefits Interfront’s Employee Value Proposition offers a comprehensive range of benefits that exceed the minimum standards set by the BCEA. Particularly noteworthy is the leave benefit provided, with employees having less than ten years of continuous service entitled to 24 working days of annual leave – nine days more than the minimum requirement of 15 days stipulated by the BCEA. Employees with over ten years of service are granted 29 working days of annual leave. Moreover, Interfront provides 36 working days of sick leave per three-year cycle, exceeding the minimum legislative requirement by six days. Permanent staff members benefit froma comprehensive CTC package that offers considerable flexibility. Employees can choose howmuch of their CTC to allocate to retirement savings, with contributions ranging from a minimum of 5% to a maximum of 27.5%. Additionally, they have the option to select from various medical aid packages provided by the company’s preferred medical aid provider, allowing them to find a plan that best fits their lifestyle and healthcare needs. This flexibility ensures that each employee can tailor their benefits to align with their personal and financial priorities. Additionally, the company provides life cover through its group life policy and extends trauma and severe illness benefits, along with funeral cover, supplementing the existing group life offering to ensure enhanced protection and support for all employees. Since 2020, Interfront has embraced a hybrid working model, offering employees the flexibility to work remotely while maintaining scheduled office attendance on designated days. The Employment Engagement Survey revealed that employees highly appreciate this new model and the flexibility it affords. They reported improved well-being and productivity as a result. Management diligently oversees productivity by evaluating employees’ output, thereby safeguarding the company’s objectives and goals amidst the implementation of the hybrid model. However, the model introduces a level of risk concerning staff engagement, necessitating proactive mitigation measures and ongoing monitoring moving forward. Work Environment The hybrid work model offers employees greater flexibility in their workplace location and, to a lesser extent, their working hours, effectively reducing burnout and enhancing productivity by eliminating factors like commute time. Findings from the Employee Engagement Survey indicate that most employees have a clear understanding of the purpose behind their work, which fosters a sense of engagement in meaningful tasks. This aspect plays a pivotal role in motivating and satisfying employees. Furthermore, the survey highlights that employees feel respected and treated fairly within the work environment.