EXIM Thailand Announces HR Transformation Scheme to Improve Staff Welfare, Promote Gender Equality and Respect Diversity and Inclusion of Personnel in All Dimensions

Tuesday 28 June 2022 13:59
Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that, under the rapidly changing economic and social conditions in the Next Normal era in conjunction with EXIM Thailand's determination to step up its HR management to be on a par with world-class organizations, EXIM Thailand has launched the HR Transformation scheme to rationalize its remuneration, fringe benefits and other benefits for employees to fit the current situations, and ensure flexibility, equality and responsiveness to the needs of its employees of all genders and all ages. It also aims to respond to the employees' aspiration for career advancement alongside the Bank's organization development and national development on a sustainable basis.
EXIM Thailand Announces HR Transformation Scheme to Improve Staff Welfare, Promote Gender Equality and Respect Diversity and Inclusion of Personnel in All Dimensions

EXIM Thailand President said that EXIM Thailand is the first state-owned specialized financial institution in the country to support diversity and inclusion of staff members in all dimensions. With LGBTQIA+ personnel to be equally cared for and treated without discrimination as second-class citizens, EXIM Thailand has planned to design its welfare and remuneration packages that can fully, properly and equally respond to the needs of all employees and their families. Under the HR Transformation scheme, the Bank seeks to rationalize personnel structure, positions, remuneration, welfare and other benefits for higher flexibility, reflection of their performance, and enhancement of fairness and equality. The employees who are LGBTQIA+ or those who are single can make reimbursement of medical expenses in a larger amount covered by family portion appropriation and can also make reimbursement for their spouse regardless of the spouse's gender.

Dr. Rak further said that EXIM Thailand will restructure its salary scale to be in line with the respective job value. Jobs of high value are not limited to only employees in charge of financial transaction or marketing tasks (core business). Amid the easing COVID-19 pandemic and inflation rate spike, the Bank has considered review of interest rates for all types of welfare loans to relieve employees' burden and offering of guarantor-free multi-purpose welfare loans at lenient interest rates. Applicants must be permanent employees with at least 1 year of service, each being eligible to borrow up to 500,000 baht and for up to 10-year loan period. EXIM Thailand has also been discussing with relevant agencies to improve criteria for performance-based bonus payment. These efforts are aimed to enable the Bank's remuneration structure to motivate staff members to do their best in performance of duties, respond to the current situation, and drive fruitful operation outcome of EXIM Thailand as Thailand Development Bank with the mission to reboot, restructure, rebalance and resynergize public and private sectors to support the sustainable development of Thailand and the world at large.

"With the current recovering pace from the pandemic, all sectors have sought to regain momentum in the Next Normal context. EXIM Thailand has vigorously geared up for the redesign of our work processes, and development of business and services to satisfy the needs and expectations of our customers and stakeholders. The key driver of all such missions is our people. We have thus constantly strived to build EXIM Thailand as an empathic workplace, taking care of the well-being and career growth of all fellow employees on a fair and equitable basis and in their best interests under the fair practice and fair share principle," added Dr. Rak.

Source: EXIM Bank of Thailand