Annual Report - Orascom Development

People and employment
During 2006 100% of OHD employees earned a bonus through work.
Each project built generates significant employment opportunities
through job creation in the hospitality and construction sectors.
We recognise that as a real estate developer and a hotel company,
our 13,000 employees are key to building our vision. In El Gouna alone
some 5,000 people are employed in the daily running of the resort and
town. Employees are housed in comfortable, affordable housing, complete
with its own downtown area with restaurants and facilities. OHD provides
local schools for employees’ children, as well as social and recreational
activities – for example football teams, a church and mosque.
OHD runs an employee healthcare
scheme, 70% funded by OHD and
with a contributory option of 30%.
Bonus and incentive schemes
We encourage performance incentives for our hotels and businesses.
The Real Estate Division runs incentive schemes for hotel employees
based on referrals of guests for property purchase. Employees and the
hotels both receive bonuses for selling property through the recognised
programme.
All divisions run the OHD annual review programme, which is based
upon a structured evaluation by line managers. During 2006, 100% of
our salaried employees earned a bonus through work.
Employee stock option plan
As our success continues to grow, retention of our best people is critical
to the future success of the company.
During 2006 we introduced an employee share ownership scheme
to encourage talented professionals to remain within OHD and aid its
growth and expansion. The scheme is also designed to attract the best
international talent to OHD. We anticipate 2007 will see a full take-up of
the 2 million shares allocated towards this plan.
Professional development
Our focus on staff training is critical to our philosophy of offering
employees development opportunities. OHD offers many training
options for its employees, including financing employee MBA education
and issuing various training scholarships.
Service training
We expect the very highest standards from our hotel operators and
their teams. We invest not only in training our immediate workforce, but
in training the next generation of hoteliers. By collaborating with the
German Agency Technical Co-operation, we have created a centre of
excellence in the El Gouna Hotel School, where 120 students are already
working towards qualifications in all aspects of hotel operations.