Our impact on the social system is broad. Being a responsible employer, we are committed to good labour practices and decent work ethics, and respecting human rights. Additionally, we interact and collaborate with our stakeholders in making a positive impact on society and on our communities through a three-pronged approach in our community investment.
Communicating our policies
All our policies are available on Bursa Malaysia’s Employee Information Portal (“My1818”). Any updates to the policies are communicated to our employees through our main communication channel, Bursa@Work. Our policies are mostly in English, it being our main language of communication.
Workforce, recruitment and attrition
For 2015, 28 or 5% of our 596 employees were engaged on contract basis. Our attrition rate of 11% was lower than the industry’s average of 13% whereby 55 new employees were hired and 65 employees left Bursa Malaysia. Additional details on this can be found in the Other EES Performance Data section of this Report.
We have established Hiring and Termination Guidelines to guide our recruitment process. We assess candidates on their core and technical competencies, work experience and qualifications. Various tools are used in the selection process to ensure objectivity in our selection of candidates.
Besides our standard working hours of from 8:45 a.m. to 5:30 p.m., our employees can also opt for alternative working hours from 9:30 a.m. to 6:30 p.m. About 9% of our employees opted for the alternative working hours in 2015. Three work shifts are applicable to employees who work in departments that operate around the clock such as the Security Department. Saturday is a nonworking day while Sunday is a rest day at Bursa Malaysia. Employees are entitled to rest days and paid holidays on all gazetted Federal public holidays.
Minimum wage, remuneration, benefits and pensions
Bursa Malaysia complies with the minimum wage requirement. We offer competitive benefits and compensation to attract and retain the best talents for the sustainability of Bursa Malaysia and the marketplace. Our employees enjoy various employee benefits such as retirement benefits and a Share Grant Plan as detailed in the Other EES Performance Data section of this Report and in the Financial Statements of the AR2015.
Our alternative working hours provide an option for our employees with families. Our employees are also entitled to annual leave and their entitlements vary depending on various aspects. Besides annual leave, female employees are granted 60 consecutive days of maternity leave for up to five children. We also offer two working days of paternal leave for employees upon the birth of their children. Additional information can also be found in the Other EES Performance Data section of this Report.
Freedom of association, collective bargaining and labour/Management relations
Bursa Malaysia recognises the National Union of Commercial Workers (“NUCW”), which is a trade union of employees registered pursuant to the Trade Unions Act, as the exclusive collective bargaining agency that Bursa Malaysia’s eligible employees are members of.
All our non-executive employees are governed by the terms of the three-year Collective Agreement (“CA”), which expires on 30th June 2016. The CA covers elements including working conditions as well as employment policies such as probationary period, discipline, salary structure, bonus, leave, working hours, overtime, rest days, maternity and paternity leave, redundancy, retirement, allowances, and medical benefits, among others. It also covers employees' health and safety topics such as hospitalisation, prolonged illness, insurance coverage and compensation for accidents as well as provision of safety helmets for floor marshals.
Written notice of not later than three months shall be provided to employees and the NUCW prior to implementation of significant operational changes that could substantially affect them.
During the year, there was no report received on violation of employees’ rights to exercise freedom of association or collective bargaining.
Occupational health and safety
Bursa Malaysia is committed to ensuring the health, safety and welfare of all employees, contractors and visitors. For our employees, we support work-life balance and promote health and wellness through activities and programmes such as wellness campaings, awareness and author's talks, Ministry of Finance Sports Fiesta, cycling awareness week and Bursa bowling tournament. We also issue internal communications on health issues such as typhoid outbreaks, the Middle East Respiratory Syndrome ("MERS-CoV"), smoke and haze.
We have established Occupational Safety and Health ("OSH") policy, which covers all our employees, contractors and visitors. We also have an OSH Committee, which consists of 10 members, who make up approximately 2% of our workforce. The committee is chaired by the Head of Security Services and supported by a representative from the Building Management Team, four management-appointed representatives and four employee representatives.
Training and education
We believe in continuous training and development to build talent capabilities. In 2015, approximately RM2 million was invested to ensure our people are equipped with functional and technical training to upskill their competencies. This is also in tandem with our concerted effort in building effective leaders within Bursa Malaysia through the strengthening of their managerial and leadership skills.
Bursa Malaysia’s Talent Council provides consultation and guidance to all Bursa Malaysia talent management initiatives including succession management. The council sets the direction, and reviews and approves talent development strategies to ensure a structured development of talents. We initiated 23 sessions of structured development programmes that were mapped to the expected behavioural competencies of employees' respective grades. Our top management also underwent distinct development programmes for knowledge enrichment and global exposure in their respective areas. The objective of the programmes is to ensure that our talents acquire necessary competencies to realise Bursa Malaysia’s aspirations.
With rigorous spending on learning and development, we registered an improvement in average learning days per employee, i.e. from 4 days to 5 days. A detailed breakdown of training received by gender and employee categories can be found in the Other EES Performance Data section of this Report.
As part of the learning and development ecosystem, we launched the enhanced Individual Development Plan to document individual training and development needs and planned relevant programmes to address competency gaps. We also conducted an Employee Engagement Survey to identify further improvement opportunities.
To instil the culture of knowledge and personal growth, the online Capital Market Intelligence Report (“eCMIR”) is made available to educate our employees on capital markets. We also support the community via services offered by our Knowledge Centre@Bursa.
Diversity, equal opportunity and non-discrimination
We are an equal opportunity employer and shall remain guided by the principles of meritocracy and fairness in all decisions regarding employment, transfers, benefits, rewards and the professional development of our of our employees.
We do not practise any form of discrimination based on race, gender or religion and this is clearly stated in our Code of Ethics (“Code”). We provide employment opportunities to people with disabilities and we currently have two in our workforce.
Bursa Malaysia is committed to ensuring that the mix and profiles of our members of the Board of Directors ("Board") and our employees, in terms of age, ethnicity and gender, provide the necessary range of perspectives, experience and expertise required to achieve our objectives. We have disclosed the composition of our Board members by age, ethnicity and gender on page 70 of the AR2015. A similar breakdown for our employees can be found in the Other EES Performance Data section of this Report.
Grievance mechanism for labour practices
We have established a grievance procedure to handle any labour disputes between our employees or the NUCW and the Management. Employees Handbook, which is available on My1818. For employees under the purview of the CA, they may refer to the provisions of the Industrial Relations Act 1967 or such other law as may then be in force for any dispute.
We are pleased to report that in 2015, there was no grievance report on our labour practices field through formal grievance mechanisms.
Training of security personnel on human rights
We have established Security Guidelines for Bursa Malaysia, which broadly cover aspects including physical protection of the Bursa Malaysia premises and property, human and personal safety and protection of information. Our security personnel, including those we source from a third party, are trained on all aspects outlined in these guidelines. We are currently reviewing the training needs of all our security personnel, with a view of incorporating relevant aspects relating to human rights policy and procedures in the training.
The Children and Young Persons (Employment) Act 1966 defines "child" as any person who has not completed his 15th year of age and “young person” as any person who not being a child, has not completed his 18 th year of age. While Bursa Malaysia remains guided by this Act, due to the nature of our business, we do not employ children or young persons.
Grievance mechanism for human rights practices
A grievance procedure has been established to handle any dispute on our human rights practices between employees or the NUCW and the Management. The procedure is detailed in our Employee Handbook, which is available on My1818. Employees may refer their disputes for settlement ubder the provisions of the Industrial Relations Act 1967 or such other law as may then be in force.
We are pleased to report that in 2015, there was no grievance report on our human rights practices, including violation of the rights of indigenous people, filed through formal grievance mechanisms.
We interact and collaborate with our stakeholders in making a positive impact on our communities. We have a three-pronged approach in our community investments:
All our business units engage with our local communities through their respective development programmes. For 2015, we engaged with 3,275 students who visited the Exchange. We also educated 1,823 students from 15 universities who joined our Bursa Young Investor Club and 637 university students who joined our Bursa University Day. Of the 1,514 participants who attended our inaugural Bursa Investor Education Workshop, 50% were students.
We offered five scholarship to underprivileged students pursuing undergraduate studies in local universities. We also trained 21 young graduates in the Skim Latihan 1 Malaysia (“SL1M”) graduate placement and internship programme which was established to address youth unemployment.
Bursa Malaysia’s annual fundraising charity run, TBBC, enables us to leverage on our position to bring together all our stakeholders for a good cause. In 2015, TBBC saw a participation of 179 corporations, which raised RM1.8 million for 28 carity organisations. We also held "Beneficiaries' Day" to enable TBBC beneficiaries to raise additional funds.
Our employees volunteered for TBBC and activities at various charity homes such as Rumah Kids, Rumah Charis, Rumah Bakti Nur Shaheera, Al Nasuha Orphanage, Rumah Kasih Pertiwi, Khidmat Baitul Mahabah and Shephard's Centre Foundation, registering a total of 3,462 volunteer hours.
Our Code ensures a high level of personal inregrity, honesty, discipline and commitment to act in Bursa Malaysia's best interest. The Code, which is available on My1818, covers pertinent aspects including handling of confidential information, dealings in securitirs and conflict of interest. It is also sets our prohibited activities or misconduct such as soliciting or accepting gifts (in excess of certain value), gratuities and bribes as well as dishonesty and sexual harassment. Our employees sign a Declaration Form to declare that they have received, read and agreed to observe and adhere to the Code at all times. Our employees will be notified of any amendments to the Code through Bursa@Work.
Our employees also have a duty to report any violation of the Code to our Head of Group Internal Audit who has a direct reporting line to the Audit Committee. Additional details on bthe whistleblowing mechanism foe employees can be found in the Sustainability at Bursa section under Ethics and Integrity,
We have assessed various operations for risks related to corruption and have identified significant risks as detailed in our Corporate Risk Management - Occupational Fraud amd Abuse Policy available on My1818. In 2015, we reminded our employees through Bursa@Work of requirement to comply with the Code particularly with regards to soliciting or accepting gifts (in excess of certain value), gratuities and bribes.
We are pleased to report that there was no incident of bribery or corruption involving our employees, and neither was there any employee who was disciplined or dismissed due to bribery or corruption. There was no fine, penalty or settlement paid in relation to corruption and bribery in 2015.
We priorities capital market related requests in our sponsorships. With regard to donations, we continue to assist the needy and the deserving. Sponsorship and donation requests are processed in accordance with approved processes. In 2015, Bursa Malaysia did not make any financial political contributions.
Bursa Malaysia has established a Competition Law Compliance Policy ("CLCP") to provide guidance on compliance with the competition law which was introduced in Malaysia when the Competition Act 2010 came into force in January 2012. The CLCP is consistent with Bursa Malaysia's intent to embrace competition and to contribute to the overall economic health and vibrancy of the markets in which it operates.
The CLCP provides a general framework for Bursa Malaysia employees to identify competitive law issues, to avoid questionable conduct and to seek appropriate advice from the relevant parties where there are doubts. A copy of the CLCP is available on My1818.
Bursa Malaysia has also established a Legislation Compliance Guideline (“Guideline”) to provide a uniform approach in ensuring compliance with all applicable laws, regulations, rules and guidelines which impact Bursa Malaysia as an entity. The Guideline led to the establishment of a Legislation Register (“LR”). While the Guideline outlines the roles, responsibilities and accountabilities of relevant parties in compliance with all applicable laws, rules and guidelines, it also ensures regular updates of the LR.
In 2015, there was no monetary fine or non-monetary sanction for noncompliance with laws and regulations.
The Personal Data Protection Act 2010, which regulates the processing of personal data in commercial transactions, applies to Bursa Malaysia and its related companies. Our Personal Data Notice is available on our website in both English and Bahasa Malaysia.
One of the key performance indicators in our Corporate Balanced Scorecard 2015 was the outcome of our Stakeholders Engagement Survey. Customers’ feedback on our organisation as a whole, as well as on our products and services, impacted performance rewards of our business units in 2015.
|Effectiveness of Stakeholder Engagement||Average score of surveys conducted by Securities, Derivatives and Islamic Capital Markets||2015: 4.07