SOCIAL
Employee Diversity
Masteel constantly focuses on our employee diversity to strive to be a competent and responsible employer to ensure the team performs to their best ability to provide the business with the utmost quality. In FY2022, we have 821 employees across all of our subsidiaries, accounting for 438 local employees (53%) and 383 non-local employees (47%). We continue to support local talents, especially in hiring underprivileged groups and unemployed youths to boost the local economy and communities. We continuously embrace and support the professional growth of all our employees regardless of their nationality, gender, religion, and race.
New Employee Hires
Employee Resignations
We continue to attract new talents to the Group, which saw 172 new employees comprising 161 males and 11 females. However, the turnover rate was 137 employees left Masteel, comprising 122 males and 15 females. Compared to the previous financial year, Masteel sees an increase in new hires and a reduction in resignations for FY2022. This proves that Masteel is upholding its commitment to ensuring a healthy work environment that gives equal opportunity to all employees and, at the same time, protects and respects their rights which outlines in Masteel’s policies.
Generally, the Group is dominated by males (91%) compared to females (9%). This is mainly due to the business nature of Masteel, a steel manufacturing industry requiring intense physical work and a factory environment. However, we do not discriminate against any individual who is willing to join the Group based on their gender, as this is clearly stated in our Human Rights policy.
At Masteel, generally, our employees’ age group is between 30-50 years old, accounting for 54%, followed by 28% for the age group below 30 years old. Approximately 18% of our employees are above 50 years old. Meanwhile, the Group recorded a majority of 77% of non-executives due to the labour-intensive nature of the Masteel business.
In FY2022, in total, 16 employees have taken parental leave, and all 16 employees returned to work after the parental leave ended. In addition, a total of 10 employees took parental leave in FY2021, and we saw that all of the 10 employees retained their employment with Masteel for the 12 months after their return to work. This shows the strong support and benefits provided by Masteel to all their employees. This positive outlook enables Masteel to continue to grow in its business by retaining its talents.