Page 109 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 3 4 5 Sustainability Statement 6 7 8 107

SOCIAL

M6

EMPLOYMENT: STRENGTHENING OUR WORKFORCE

Why This Matters
A high-performing workforce is central to Bank Muamalat’s Creating a supportive and inclusive workplace is equally
ability to deliver value, adapt to change, and achieve important. By prioritising employee welfare, promoting
sustainable growth. Attracting, developing, and retaining work-life balance, and fostering professional development,
skilled talent not only drives innovation and productivity but we enhance employee satisfaction and engagement. This
also ensures continuity and resilience across the organisation. contributes to a more motivated and agile workforce capable
High employee retention reduces recruitment and training of delivering on the Bank’s strategic goals.
costs, while a committed workforce helps preserve institutional
knowledge and reinforces a strong organisational culture.

Our Approach

Bank Muamalat’s approach to talent management is at reducing turnover by offering structured career
anchored in three core areas: recruitment excellence, pathways, professional learning opportunities, and regular
retention strategies, and employee well-being. engagement initiatives that build trust and motivation.
• Strategic recruitment and talent acquisition - We continue • Holistic employee well-being - We recognise that employee
to improve our hiring processes by aligning recruitment well-being extends beyond the workplace. The Bank offers
strategies with current and future business needs. a range of support programmes that address mental
Our focus is on selecting individuals who share the health, physical wellness, and work-life balance. Feedback
Bank’s values and have the capabilities to contribute mechanisms such as surveys and engagement sessions
meaningfully to long-term growth. are used to ensure that employee voices are heard and
factored into decision-making. Additionally, we actively
• Retention and employee engagement - We aim to retain seek employee feedback to continually improve our
talent by fostering a culture of inclusion, recognition, workplace practices and policies.
and continuous development. Our efforts are directed

Key Actions and Outcomes
1. Strengthening Leadership Continuity and Succession • The rollout of a structured six-month iLeaD Leadership
Development Programme, designed to enhance
Bank Muamalat remains committed to building strong leadership capabilities through a blend of experiential
and sustainable leadership by ensuring a robust learning and executive coaching.
succession pipeline that supports long-term growth,
business continuity, and leadership resilience. This • Business Opportunity Case (BOC) presentations, aimed
commitment is central to the Bank’s strategy for at sharpening strategic thinking, executive presence,
maintaining institutional stability and preparing future and effective communication among identified
leaders. successors.
• The continued implementation of the MyLeaP
In 2024, the Bank identified a total of 15 Mission Critical programme to nurture high-potential young talent as
Positions (MCPs) and 9 Operational Critical Positions part of the Bank’s long-term leadership development
(OCPs) spanning key areas such as business, corporate strategy.
and operations, and control functions. Successor
candidates have been identified for each of these • Ongoing efforts to strengthen recruitment and
roles, with an average successor ratio of 1:2 for MCPs retention practices, ensuring that the Bank attracts
and 1:5 for OCPs. This demonstrates the Bank’s solid and retains talent aligned with its values and future
bench strength and preparedness for future leadership leadership needs.
transitions.
These initiatives reflect the Bank’s proactive approach
To support successor development and readiness, the to succession planning and leadership development,
following initiatives were implemented: ensuring readiness to meet evolving business challenges
and opportunities.
• Leadership assessments and the formulation of
individual development plans tailored to specific
competency gaps and leadership potential.