Delivering Locally

Inequality affects many areas in which we operate. As such, we recognize our responsibility to improve the living conditions of local communities. Generating economic value for local shareholders is our mandate as a for-profit organization, but we are equally focused on the broader indirect economic benefits we can create for the societies we are part of. This section describes our programs for creating sustainable in-country value throughout our operations.

'Over the past 30 years Renaissance Group has worked to add value to the economy through prudent business strategies and effective local investment. ICV is a national priority in Oman to drive its economic diversification and for the business community to stoke the flame of entrepreneurship within the Sultanate. Having begun ourselves as an SME we understand the challenges which small businesses and start-ups face.

We had significant learnings to reach where we are today and our aim is to pass on these learnings to today's SMEs to help them achieve similar success.' – Ananda Fernando, Managing Director of Renaissance

Renaissance's ICV programme is an integral part of Renaissance's value system and it continuously aims to maximise the total in-country spend to develop human capital, encourage entrepreneurship and stimulate productivity in the economy. It also endeavours to develop locally owned and operated SME's.

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Local investment

Renaissance Village Duqm is our flagship project, trebling our accommodation business volumes and providing world-class serviced accommodation for over 16,000 people, meeting international standards of safety and comfort. Because the project funding combines local and national Omani investment, we can give a guarantee that any contractors who use Renaissance Village Duqm can count 100% of that cost towards their ICV spend here in Oman.


Investing in our employees

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Caring for people is one of our core values. We have strict policies on non-discrimination in employment and promotion and our local hiring and mentoring approach. In addition, our management has developed a transparent compensation and benefits structure to attract the right talent and incentivize top performance.

Given the nature of our work, we maintain insurance policies at group and subsidiary levels to cover permanent staff, including through a specialized maritime insurance broker and consultant at Topaz. Our temporary staff is covered by insurance as required by their work profile.

We are committed to maintaining a culture of respect and trust at the Group. Both Renaissance and Topaz encourage open dialogue between employees and management in line with the respective company codes of conduct. In addition to the standard channels to raise individual employee grievances, Omani employees at Renaissance may also voice their concerns through the labour union, which was established in 2013. At Topaz, our seafaring employees have access to on-board complaint procedures in line with the Maritime Labour Convention (MLC 2006). In 2015, 3 grievances were raised by Topaz employees and resolved through formal mechanisms during the reporting year.

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Our employee profile

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Local hiring

Building local leadership is an important area for development for us. At present, 12% of Renaissance management is Omani and we have plans to increase this through training and mentoring. At Topaz, we aim to go beyond compliance with national localization targets through training and development programmes for nationals where we operate. Providing our employees with the right skills and development is key in delivering reliable and high quality services that meet our clients' expectations.

Local presence at management level

2014

2015

Renaissance

Oman

12%

12%

Norway

100%

100%

Topaz

Caspian

50%

33%

MENA

8%

0%

Global/Africa*

14%

0%

Corporate (UAE)

0%

0%

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Recruiting locals is a key component of our ICV strategy in Oman and abroad. Alongside our regular recruitment campaigns for Omanis, we also partner with educational institutes, such as the National Hospitality Institute in Oman to provide training programmes for selected candidates. In 2014, we nominated 50 Omani trainees to complete training programmes at the NHI with a promise of recruitment upon graduation.

At Topaz, we continue our localization partnership with King Abdulaziz University in Saudi Arabia to provide maritime education and training. Seven cadets were trained in 2014 and twelve appointed in 2015. Renaissance continues to be a top Omani employer in the private sector. 2015 saw an addition of 100 Omanis at trainee and experienced grades to our project with BP in Khazzan.


Developing our teams

This year, at Renaissance we have embarked on mapping out career development paths which will enable employees to set long-term career goals. Our existing competency assessment frameworks will support us in identifying employee learning needs at all levels of experience. Currently all employees are required to complete mandatory HSE accredited trainings in order to guarantee our clients safe and high quality standards of service, as well as specialized trainings as they progress in the organization

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At Topaz we have focused our attention on building upon our existing HR policies, systems and programmes. Our Competence Assurance Programme , launched in 2014 provides us a mechanism to ensure our employees have the necessary skills to carry out their duties safely and competently and defines standards for each rank. A competent workforce helps to keep everyone safe on board, ensure sustainability of our operations, and maintain the high standard of skills and expertise required in our industry.

Crew complete industry standard training in accordance with STCW, and any additional training needs are identified through the Company's Competence Assurance Program (CAP). Training is also arranged to meet client/operation specific requirements.


Advancing our employees' careers

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Building a local supply chain

Engaging with reliable local partners improves our ability to deliver exceptional service to clients on time and within budget. At Renaissance, we have exceeded our target to ensure 50% of procurement is through local contractors (those registered in Oman with the Ministry of Commerce and Industry). Our ICV committee supervises our Musnad campaign for coaching Omani entrepreneurs and SMEs. This year we have supported a number of SMEs in responding to tendering requirements . We have also sourced services, such as landscaping and waste management, from local community contractors, enabling us to create stronger regional relationships.

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We have strict procurement policies in line with ISO 9001 quality standards to ensure the transparency of all our supplier transactions. Suppliers must adhere to our supplier code of conduct and we conduct regular supplier audits to identify any issues of corruption or non-compliance.

The Topaz approach to suppliers is collaborative, ensuring fair treatment in any transaction. We conduct our supply chain activities as per a documented set of policies and procedures compliant with the ISO Quality standard. We ensure support of local economies by local sourcing which also helps minimize environmental and cost impacts through reduced shipping distances . Our request to pay process is well documented and followed in order to ensure proper tracking of transactions with our suppliers.


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