EDC 2014 SR (UPDATED)

EDC 2014 Performance Report
to produce 138 experts from 2010
to 2020 with 63 diploma graduates,
59 master’s degree holders, and
16 doctorates among employees.
At present, eight employees are
going through master’s programs in
energy engineering, geology, and
environmental engineering, and
two employees are completing their
PhDs in engineering and in geology.
We also offer funding of a diploma
course on project management for
the engineering and construction
division (composed of engineers from
different disciplines).
We have a NZD1 million research
agreement with the company GNS
Science, New Zealand’s leading
provider of earth, geo-sciences, and
isotope research and consultancy
services. The agreement with GNS
Science covers the development of
solutions to further enhance EDC’s
work processes, methodologies and
cost efficiencies, and to minimize risks.
The training programs include
apprenticeships for new hires and
specialized training on existing and
new technologies for incumbents.
Our onboarding program is a sixmonth
process that aims to align,
accommodate, assimilate, and
accelerate new employees, coupled
with guided mentoring with their
immediate superiors in partnership
with the human resources team. The
PowerUp program aligns everyone
with the 2020 vision and strategies of
the company.
Setting the
PACE for High
Performance
Using a holistic approach to
sustainable engagement of our
employees, the company provides
a world-class working environment.
Our Planning–Assessing–Coaching–
Evaluating performance management
system is now being implemented
throughout the entire organization and
seeks to ensure that each employee
contributes to the overall goal of EDC.
Individual performance objectives
are linked to the team objectives and
linked to the overall group (SBU or
COE) where the employee belongs.
Through PACE, we are able to promote
a culture of high performance, where
recognition and rewards are not only
based on the employee’s individual
and team contributions, but also on
how performance is delivered and
the goals are achieved. Our rewards
system remains competitive in the
marketplace and allows us to pursue
our growth strategy. Our benefits
practice is robust, mature, and
highly competitive, with employee
benefits and salaries significantly
exceeding those mandated by law.
All EDC employees receive regular
performance and career development
reviews.
Life after EDC
EDC contributes to looking after the
welfare of employee at retirement. We
provide highly competitive retirement
benefits up to 230% of employee’s
monthly base pay multiplied by the
number of service years, and include
post-retirement medical and life
insurance benefits. Apart from the
funded, non-contributory, defined
benefit retirement plan administered
by a trustee bank, which covers
permanent employees, we provide
a savings plan wherein the company
contributes 50% of the employee’s
contribution to the employee’s
account. A regular employee may
contribute any amount between five
and 15% of his monthly basic salary,
and the company in turn contributes
50% of the employee contribution
to the employee savings account.
Properly used, the savings program
can serve as additional safety net for
our retirees.
Intrinsic Rewards
Employee morale is an important
factor in having an engaged and
energized workforce, and there are
initiatives beyond a proper rewards
system that protect it. We make sure
that our business practices are fair,
ethical, and can stand the scrutiny
of government and society, and
observe national and local labor
laws. We uphold equal opportunity
in the workplace, where both men
and women receive a salary that
is based on position, qualification,
performance, and potential.
Apart from espousing gender
equality, we also strive to be ethnically
and culturally sensitive, facilitating
the possible employment of qualified
members of our host communities
and indigenous peoples. To date,
EDC has five employees from the
Manobo tribe and one employee
who is a Muslim. We have a human
rights policy, developed in 2011,
that upholds the idea of equality for
all regardless of gender, race, and
belief, refusing to tolerate any form of
discrimination or harassment; protects
the workers’ rights in all our offices;
protects and preserves the culture of
tribal minorities; and appreciates and
respects the opinions and beliefs of
employees.
We do all these so that EDC continues
to be the preferred employer of
the best and the brightest in the
renewable energy sector.
This page contains the following GRI indicator(s):
G4-EC3, G4-LA2.
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