Human Rights

The Company upholds and respects human rights in accordance with the Universal Declaration of Human Rights (UDHR), the UN Guiding Principles on Business and Human Rights (UNGP), and the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work. These principles are integrated into the Company’s operations through responsibilities for rights protection, respect for rights and remedies, policy commitments, and risks to human rights violations in order to establish a framework for the Company’s human rights policy.

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The Company conducts business with responsibility, upholds fair labor practices, and respects human rights. The Company treats all stakeholders, whether they are employees, community, and society equally with respect for human rights, upholds values of equitable treatment and freedom, refraining from violating fundamental rights or discriminating against individuals based on race, nationality, religion, language, skin color, gender, age, education, physical condition, or social status. The Company ensures that both its own operations and those of its subsidiaries do not contribute, directly or indirectly, to human rights violations, forced labor, or child labor.

Additionally, the Company assesses occupational health and safety risks toward employees and workers and considers potential environmental impacts on surrounding communities. A risk assessment of human rights and fair labor practices for both critical and new suppliers is in place in accordance with the Code of Conduct. Easily accessible complaint channels are provided, along with corrective and preventive action and remedy mechanisms to provide appropriate compensation to those affected by human rights violations. In addition, the Company has carried out a Human Rights Due Diligence (HRDD) process that covers all stakeholders and those involved within the Company’s supply chain. In 2024, there were no incidents or complaints regarding violations of human rights and labor from within or outside the organization.

In addition, the Company has conducted a Human Rights Due Diligence (HRDD) process that covers all stakeholders and those involved within the Company’s supply chain.

Human Resource Management

The Company recognizes that human resources are the most important factor in achieving its goals and driving competitiveness and sustainable growth. As a result, the Company is committed to developing its human resources and ensuring fair and equitable treatment of employees. A Human Resources Committee was established, with the Chief Executive Officer appointed as the chairman to ensure smooth and consistent human resource management aligned with both short-term and medium-term strategic plans. The Committee scrutinizes compensation and welfare management policies, human resource management plans, and development strategies prior to presenting them to the Nomination and Remuneration Committee for approval. This includes managing employee engagement, fostering career progression, providing opportunities for participation, and managing employee well-being in the organization equally.

Fair Treatment of Employees

The Company is committed to respecting the rights of employees in accordance with human rights principles and complies with labor laws by ensuring fair hiring process and employment conditions without discrimination against gender, race, religion, or culture, starting from the recruitment process to fair and appropriate compensation payment based on their potential, position, and responsibilities. The Company also conducts performance evaluations fairly to foster career stability and create opportunities for career progression.

Remuneration and Welfare Management

The Company has established clear, transparent, and appropriate criteria and methods for recruitment and remuneration, comparable to the same industry standards. The Nomination and Remuneration Committee reviews remuneration and presents it to the Board of Directors for approval. Additionally, Welfare Committee, consisting of five employee representatives, was established with a responsibility to discuss, and offer advice and/or suggestions to employers regarding welfare benefits, monitoring and overseeing the welfare benefits provided to employees. The Company has a policy of hiring and paying remuneration to employees based on their duties, responsibilities, experience, and educational qualifications, with no gender-based differences in the consideration process. In 2024, the Company introduced a new salary structure to adjust the salary base, ensuring it is appropriate and competitive with the same industry standards. The Company has implemented a minimum wage policy, using the minimum wage rate of Bangkok and its vicinity as a benchmark. For provinces with higher wage rates than the Company’s criteria, wages are adjusted to match the local rate. Additionally, the Company conducts an annual performance evaluation for all employees, which serves as the basis for considering salary increases and remuneration. Therefore, 100% of all employees undergo an annual performance evaluation.

In addition, the Company emphasizes the importance of personal financial management to ensure employees’ stability and quality of life by providing financial knowledge and offers a provident fund for both executives and employees as saving for retirement, job transitions, disabilities, or providing financial security for their families. The Company also provides financial training for employees approaching retirement age. Furthermore, the Company organized a debt restructuring project in collaboration with banks to support employees facing financial difficulties, helping them manage their debts more effectively. This enables employees to better manage their finances, enhancing employee morale and promoting mental health.

Overview of Human Resource Management

Employee Relations Management

• Employee Engagement Assessment

  The Company conducted an Employee Engagement Survey to assess employee satisfaction and engagement, aiming to enhance the work environment and improve work efficiency. The Criteria for assessing organizational engagement and the survey process was refined to be more comprehensive and aligned with the Company’s vision, incorporating both qualitative and quantitative data through questionnaires. This approach provided a comprehensive understanding of employee engagement and helped determine the development plans for the following year. The target score for assessing organizational engagement was set at 75% as it was the first time the assessment was conducted based on new criteria and processes. In 2024, the Company’s employee engagement score was 78.4%, exceeding the set target.

  

  In 2024, the Company launched a project to enhance working conditions, employee welfare, and others based on feedback from the 2023 engagement survey. This included transforming the work area into a Co-Working Space at the Bangna branch, expanding employee parking at the Bang Phli factory, and renovating the headquarters to be modern and support work styles of employees as well as creating more spaces for recreation and activities for employees. These recommendations have been gradually implemented and are expected to be completed by 2025.