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Annual Report 2014
Human Resources
Fostering Potential
Skilled and motivated employees form the backbone
of success for every corporation. Our comprehensive
human resources strategy aims to nurture and maximise
the potential of our employees. At COSCO, carefully
structured programmes encompassing recruitment,
training, incentives, compensation and benefits are
put in place to equip our people with the right skills and
competencies to execute their jobs.
Investing in human capital – Recruitment
and continuous learning
As a leading marine conglomerate, we recognise the key
role a quality workforce plays. We strive to recruit and
retain talent by way of competitive remuneration, reward
schemes, regular reviews and performance appraisals.
Each year, we place top graduates from highly regarded
Chinese universities in management trainee courses in
preparation for future management roles. We track their
progress closely and assist them in achieving their career
and personal goals as they grow with the company.
In our dynamic industry, we recognise that skills need to
be updated and upgraded. As an advocate of continuous
learning, we regularly send our employees on courses
related to international standards and safety measures,
technical, engineering as well as management skills.
Technical staff are assessed annually to ensure their
skills meet the necessary standards. In addition, COSCO
organises training courses for our senior technical
management staff to strengthen and reinforce their
knowledge and expertise.
Valuing employees – Reward and retention
As a far-sighted employer, we seek to develop our Group
as an employer of choice through open dialogue, fair
management, sharing of responsibilities and decision-
making, and the institution of a performance and
achievement appraisal system. Through this system, we
aim to align employee work goals with personal career
development and remuneration.
COSCO further strengthened the management team’s
capability over the year in review. Top management
officers and middle level managers from COSCO
Shipyard Group’s headquarters and subordinate
enterprises had undergone job rotation to broaden their
exposure to various business lines. In addition, marine
engineering professionals were staffed to complement
the strengths of the existing team.
Outlook
In 2015, we will further improve our appraisal and career
development system. We will enhance management
team exchanges among different shipyards. At the
same time, we will improve training programmes for
middle level management in the areas of technology,
production, quality control and procurement.
Our human resources policies have been successful
and as we embark on 2015, we will continue with the
effective management of our workforce of contract and
permanent staff.
Workplace Safety
Workplace safety awareness
Safety is a basic right and our number one value. Our first
and foremost responsibility is protecting our workers. To
ensure the safety of all our employees and stakeholders,
COSCO has an established system of safety regimes
aimed at inculcating a strong culture of safety in the
workplace.
All shipyard staff undergo workplace safety training
courses designed to identify potential workplace hazards
and to be instructed on precautionary safety measures.
The courses ensure all shipyard workers are fully
aware of the risks and consequences associated with
dangerous behaviour and that they comply with safety
regulations. To ensure fundamental levels of proficiency
and understanding, assessments are conducted on a
regular basis. New hires will have to complete mandatory
training courses and pass relevant examinations prior to
commencing their duties.
COSCO adopts training plans and training matrix
such as Behaviour-based Safety (BBS) and Job Safety
Analysis (JSA) for risk management personnel. Workers
in high-risk specialised trades must undergo additional
safety training specific to their fields. In 2014, a total of
333 specialist training courses and 98 theory tests were
conducted.
Inside COSCO and Corporate Citizenship
Human Resource and
Workplace Safety
