Safe Spaces and Well-Being
PRIME recognises the importance of prioritising the health, safety and well-being of employees and aims to achieve zero workplace injuries and fatalities each year. In FY2022, there were no workplace injuries or fatalities among the Manager's employees and LPC's employees1 physically based at PRIME's properties. To ensure that health and safety remain of utmost importance at all of PRIME's properties, we strive to build thriving communities and create sustainable social impacts that provide value to all internal and external stakeholders.
Our achievement of zero incidences of workplace injuries or fatalities is meaningful and certainly a positive accomplishment for our organisation. While there is no formal health and safety policy, the Manager's employees are covered by office building management safety procedures such as fire evacuation drills. Property managers of several of PRIME's properties conducted full building fire drills, fire warden training and cardiopulmonary resuscitation (CPR) training; these onsite safety practices will be fully extended to all properties in 2023. Furthermore, there were no identified cases of non-compliance with health and safety regulations in the reporting period.
To enhance the overall health and safety of our organisation, we regularly review and update health and safety policies and encourage employees to share health concerns and suggestions, as well as provide healthcare benefits as part of their employment package. We understand that the health, safety, and satisfaction of our stakeholders are crucial considerations for PRIME, as they play a significant role in the success of our organisation.
The importance of prioritising the health, safety, and satisfaction of stakeholders for PRIME can be outlined as follows:
Tenant retention and satisfaction
The satisfaction of tenants is a critical factor in tenant retention and lease renewals. By prioritising tenant health and safety, PRIME creates an environment where tenants feel valued and cared for, leading to higher levels of satisfaction and longer lease terms.
The health and safety of stakeholders, such as tenants and employees, can impact the reputation of PRIME and ability to attract and retain investors. By prioritising the health and safety of stakeholders, PRIME builds trust and confidence in the market.
Employee health and safety
The health and safety of employees are essential for creating a productive and engaged workforce. By providing a safe and healthy work environment, PRIME attracts and retains top talent with reduced absenteeism and turnover.
As a responsible corporate citizen, PRIME has a responsibility to contribute positively to the communities in which it operates. By prioritising the health and safety of stakeholders, PRIME can demonstrate its commitment to social responsibility and create a positive impact on the community.
1 57 of LPC's employees were based at PRIME's properties as at 31 December 2022. LPC took over property management at PRIME's properties in 2H2022.
For more information, please refer to page 108-111 of PRIME's 2022 Annual Report.