Interfront 2024 Annual Report

A B C E HUMAN CAPITAL MANAGEMENT Reasons for Employee Losses Interfront places a high value on its workforce and conducts exit interviews to gather feedback from departing employees. Although our current staff turnover rate stands at only 2.5%, we analysed data over 25 months to ensure continuous improvement and confirm that previous problem areas were being effectively addressed. The main reason for employee departures has been the pursuit of career growth and development, with a lack of advancement opportunities consistently cited as the primary factor. This trend is common for an organisation of Interfront’s size. To address this, we have streamlined our in-line promotion process over the past two years, and this is expected to have a positive impact on future turnover feedback. Although many employees felt their compensation was fair, there has been an increase, compared to previous reports, in those perceiving it as inadequate. Over the past year, Interfront has made significant efforts to ensure that its remuneration is in line with market standards. While we may not match the private sector in terms of short- and long- term incentives, we offer many other attractive benefits, underscoring the importance of maintaining competitive advantages. Feedback also indicated a strong willingness among staff to consider rejoining Interfront or recommending it to friends, highlighting the positive prospects of re-engagement. Departing employees found it challenging to assess the effect of remote work arrangements on morale, though a few expressed negative perceptions. Nevertheless, prioritising staff engagement measurement will be a key objective in the short and medium term. Effective communication remains crucial, with most departing employees having positive sentiments about their experience at Interfront. During the 2023/2024 financial year, Interfront experienced several employee terminations for various reasons. Four employees resigned due to misalignment with Interfront’s culture, one left to return to their hometown, and one was headhunted and accepted a promotion opportunity. Two employees’ contracts expired when their working visa permits lapsed, and one employee was dismissed. Recognising the distinction between desirable and undesirable turnover is crucial, as the former can improve workplace productivity and profitability. In conclusion, while Interfront has made significant strides in creating a supportive and engaging work environment, ongoing efforts to enhance career growth opportunities, maintain competitive benefits and improve communication will be essential in sustaining our low turnover rate and achieving our goal of becoming an employer of choice. REASON NUMBER % OF EMPLOYEES LEAVING Death 0 0 Resignation 4 57.14% Dismissal 1 14.29% Retirement 0 0 Ill health 0 0 Expiry of contract 2 28.57% Other 0 0 TOTAL 7 100% NATURE OF DISCIPLINARY ACTION NUMBER Verbal warning 0 Written warning 0 Final written warning 0 Dismissal 1