TALENT ACQUISITION AND RETENTION

New Hires

At CDL’s Corporate Office, CDL had 74 new hires in 2022, an increase in the number of new hires from 2021 by 12%. Out of the new hires, 62 were replacements for existing positions and 12 were for newly-created positions.

CDL Group (based in Singapore)’s new hires trend:

Item FY2019 FY2020 FY2021 FY2022
Total no. of new employee hires 1421 698 942 1725
% of internal hires 2% 8% 5% 3%
Total no. of new employee hires FY2019 FY2020 FY2021 FY2022
Female 628 317 397 726
Male 793 381 545 999
Total no. of new employee hires FY2019 FY2020 FY2021 FY2022
Below 30 years old 169 458 132 240
30 to 50 years old 406 689 326 476
More than 50 years old 230 274 240 226

Employee Retention

Our successful employee engagement is evident from our employees’ length of service. The average tenure of employees at CDL’s Corporate Office is about 8.8 years. More than 50% of CDL Corporate Office’s employees have been with the company for longer than five years. Our Corporate Office employee resignation rate of 16.8% continue to remain significantly lower than the national average of 20.8% in 2022. At our Corporate Office, CDL experienced an involuntary turnover rate of about 1.5%, of which 0.5% is due to retirement.

11 Computation of annual employee turnover is based on cumulative monthly attrition rate derived from the number of resignations for the month divided by the headcount for the month.
12 Extrapolated from MOM’s website as Q4 2022 national resignation rate was not available at the time of publication.

 
CDL Group’s (Singapore-based operations only*) employee turnover rates:

FY2019 FY2020 FY2021 FY2022
Total Employee Turnover Rate 38.3% 41.4% 34.2% 38.8%
Voluntary Employee Turnover Rate 34.9% 28.3% 31.0% 38.6%
* As of 17 July 2023, this accounts for 46% of CDL Group’s total workforce.

 

CDL Group’s (Singapore-based operations only*) employee turnover rates broken down into gender and age brackets are as follows:

Total Employee Turnover Rate FY2019 FY2020 FY2021 FY2022
Female 44.3% 42.7% 41.6% 42.1%
Male 55.7% 57.3% 58.4% 31.6%
Total Employee Turnover Rate FY2019 FY2020 FY2021 FY2022
Below 30 years old 32.3% 27.4%% 18.1% 22.5%
30 to 50 years old 48.0% 49.8% 39.3% 52.0%
More than 50 years old 19.6% 22.7% 21.8% 25.5%
* As of 17 July 2023, this accounts for 46% of CDL Group’s total workforce.

EMPLOYEE PERFORMANCE MANAGEMENT SYSTEM

Fair and competitive remuneration attracts and retains talents to build strong human and organisational capital, enabling CDL’s continued and robust business growth. CDL uses a well-structured and open annual performance appraisal system, which is reviewed and enhanced periodically to encourage two-way feedback between employees and their reporting officers. Our Balanced Scorecard System — built on the four perspectives of financial, customer, internal control, learning and growth — measures and aligns cross-functional and individual employee performance to support CDL’s business strategies and corporate objectives.

CDL HQ utilises a performance appraisal that measures performance by management by objectives, using measurable targets (e.g. KPIs). All CDL, M&C, CBM Pte Ltd and Tower Club staff who are based in Singapore use the above performance appraisal methods. Appraisals are conducted on a yearly basis. 

EMPLOYEE WELL-BEING

Employee engagement and well-being surveys are crucial to assess employee satisfaction and identify areas of improvement to and attract, retain and develop the best employees. CDL conducts an employee engagement survey biennially. Last held in 2022, CDL Corporate Office’s engagement score was 84%, which is 8% above the Singapore norm. Survey questions cover areas of well-being of employees, job motivation and satisfaction, and work productivity.

Unit FY2020 FY2022
% of employees with top level of engagement, satisfaction, wellbeing 79% 84%
% of employees who responded to the survey 84% 88%