22 Nov, 20231 min read

PCB has wrapped up establishing a harmonized HR Policy that will serve for all SOEs.

PCB has wrapped up establishing a harmonized HR Policy that will serve for all SOEs.

The Privatization and Corporatization board (PCB), which regulates the SOE sector, started formulating a revised Human Resources Policy for the SOEs in November 2022 with the aim of further enhancing the sector as a whole. PCB therefore expects that the revised proposal will soon be put into motion during Q1 of next year.

With the backing of this modified strategy, PCB aims to promote the development of flexible work environments where employees are allowed to utilize their rights to personal development and freedom while working. This contributes in a company's capacity to retain potential employees, at the same time individual employees are provided with incentives to broaden their career and climb the ladder within the organization.

The fundamental objective of PCB performing this review is to be certain that the company’s existing HR policies and procedures for SOEs comply with the Employment Act, other best practices and the guidelines established in the job classification framework for SOEs. This revised HR policy focuses on upholding equality, honesty, and synergy of HR procedures towards SOEs that are compatible with the PCB’s implemented category and sorting structure. Thus, more value creation can be fostered through human resource development and innovation, in various sectors the SOEs operate.

As the governing body of SOEs, PCB strives to lay down balanced standards that are favorable to company operations as a whole. This is because having clear policies and procedures in place helps to safeguard both the company and the staff members. This impacts not solely individuals however also the company's operations and the method in which the sector as a whole functions.