Health, Safety and Satisfaction of Stakeholders
PRIME acknowledges the significance of prioritising the health, safety and welfare of its employees and strives to attain zero workplace injuries and fatalities annually. This long term commitment is integral to the Manager's overarching mission of building thriving communities and creating sustainable social impacts that provide value to all internal and external stakeholders, including tenants, employees and the broader community. In FY2023, there were no workplace injuries or fatalities resulting from non-compliance with regulations and safety among the Manager's employees and LPC's employees(4) physically based at PRIME's properties.
PRIME's achievement of zero workplace injuries or fatalities is a significant accomplishment for the organisation, reflecting its dedication to upholding strong health and safety standards. This commitment to safety extends towards tenants' employees and feedback channels are utilised to continuously enhance health and safety practices for tenants, promptly addressing any concerns that arise. Although there is no formal health and safety policy specifically for the 6 employees based in Singapore, the Manager's employees adhere to the safety protocols such as fire safety procedures established by the office building management.
In addition to actively participating in safety procedures and receiving comprehensive training, PRIME employees also receive medical and healthcare benefits.
Furthermore, PRIME has implemented an Enterprise Risk Management framework to assess various risks, including business, operational and health and safety risks. Quarterly risk assessments are conducted with results documented in a risk register for transparency and accountability. Proactive measures are taken to mitigate high-risk areas and enhance safety protocols. Insurance claims against liability insurance are tracked as key risk indicators. By encouraging employees to share health concerns and suggestions, PRIME can further enhance its overall health and safety culture.
The importance of stakeholder health, safety and satisfaction for PRIME remains consistent, including:
Tenant Retention
Prioritising tenant well-being fosters satisfaction and longer leases.
Investor Confidence
Stakeholder well-being influences PRIME's reputation and investor appeal.
Employee Well-being
Ensuring safety cultivates productivity and talent retention.
Community Impact
Promoting stakeholder health showcases PRIME's commitment to social responsibility and community welfare.
For more information, please refer to page 108 to 114 of PRIME's 2023 Annual Report.