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Insights on how you can protect the environment, maintain and increase the value of your company, through a structured process.

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Case study: How FAB promotes employee wellbeing

With a global network across five continents, FAB is the largest bank in the UAE and one of the world’s largest and safest institutions, offering an extensive range of tailor-made solutions, products and services. Recognising the important part its employees play in the success and sustainability of its business, FAB looks after the wellbeing of its people, offering a range of tools and services to its employees to maintain their physical, mental and financial wellbeing.  Tweet This!

This case study is based on the 2019 ESG Report by FAB published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

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To help its people stay well and perform at their best, FAB supports their ‘whole-being’ by focusing on three key aspects of their wellbeing: physical, mental and financial. In order to promote employee wellbeing FAB took action to:

  • promote employees’ physical wellbeing
  • protect employees’ mental wellbeing
  • improve employees’ financial wellbeing

What are the material issues the company has identified?

In its 2019 ESG Report FAB identified a range of material issues, such as financial and economic performance, systemic risk management, responsible customer relations, financial inclusion and accessibility, customer privacy and data security, responsible lending and investing. Among these, promoting employee wellbeing stands out as a key material issue for FAB.

Stakeholder engagement in accordance with the GRI Standards                                     

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups FAB engages with:

Stakeholder Group                Method of engagement
Customers

 

 

 

·      Branches

·      Digital channels and social media

·      Relationship managers

·      Customer Experience Department

·      Customer surveys

Employees

 

 

 

·      Training and development programmes

·      Employee engagement

·      Recognition programmes

·      Transparent, accountable management

·      Whistleblower hotline

Shareholders and Investors

 

 

·      Board of Directors meetings

·      Public reports

·      Road shows

Government and Regulators

 

 

·      Group Internal Audit, Group Compliance and External Audit

·      Code of Ethics Policy

·      Public reporting

Environment

 

·      Sustainability report

·      Green bond report

·      Engagements with NGOs

·      External memberships

Local Community

 

 

 

·      CSR activities

·      Local procurement

·      Social media and website

·      Partnerships

Suppliers

 

·      Bidding and tendering

·      Supplier portal

·      Supplier Environmental & Social Code of Conduct

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics FAB engaged with its stakeholders through interviews and workshops, to identify what is important to them.

What actions were taken by FAB to promote employee wellbeing?

In its 2019 ESG Report FAB reports that it took the following actions for promoting employee wellbeing:

  • Promoting employees’ physical wellbeing
  • FAB seeks to achieve zero injuries across its buildings, ensuring a safe and healthy workspace for its people. In 2019, FAB became one of the first institutions to comply with Hassantuk, a new regulation as part of the smart city initiative to improve UAE civil defence and installed the recommended fire and safety alarm systems in its facilities, to enable faster emergency response and safer workplaces. In 2019, FAB achieved the following:
    • Was among the first companies worldwide to re-certify its workspaces to the ISO 45001: 2018 standard for Occupational Health and Safety (OHS).
    • Redirected its Occupational Health and Safety system team to now report into FAB’s Operation Risk Committee, providing more efficient business and improved risk control.
    • Nominated floor wardens, first aiders and OHS (occupational health and safety) representatives at each of its buildings, to oversee the safety programme.
  • Protecting employees’ mental wellbeing
  • FAB encourages an open workplace, where employees are assisted to seek help and support when required. FAB’s employees have been provided with a support line to assist them with ongoing trauma support, through FAB’s Employee Assistance Programme. Employees experiencing mental health or personal problems such as depression, stress or family issues can use FAB’s dedicated, confidential support line to talk with professional counsellors any time of the day, every day of the year. FAB also has a formal Employee Grievance Mechanism to receive employee complaints and concerns and make sure that these are handled fairly and in a timely manner. In 2019 FAB developed FABCares, an employee wellbeing programme that looks after all three elements of employees’ wellbeing. This programme was rolled out in March 2020 to all employees.
  • Improving employees’ financial wellbeing
  • Recognising that strong financial wellbeing and understanding can lead to greater resilience during times of change, promoting financial security, FAB seeks to educate and promote financial resilience among its staff, customers and their families, to grow financially stronger. To provide FAB’s people and their families with financial security, employees are eligible for a range of comprehensive benefits on top of their remuneration. They include pension (Emirati staff), medical insurance and life insurance coverage. FAB also provides service offerings for education assistance, car loans, mortgage loans and personal loans. FAB’s compensation system is based on a fair and transparent reward system, designed to promote a culture of equal pay.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 403-6 Promotion of worker health

2) Disclosure 403-9 Work-related injuries

3) Disclosure 403-10 Work-related ill health

 

Disclosure 403-6 Promotion of worker health corresponds to:

Disclosure 403-9 Work-related injuries corresponds to:

Disclosure 403-10 Work-related ill health does not correspond to any SDG.

 

80% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.



FBRH GRI Standards Certified, IEMA & CIM recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified, IEMA & CIM recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

Most importantly, you will gain the knowledge to use the GRI Standards, project manage your own first-class sustainability report and:

  • Identify your most important impacts on the Environment, Economy and Society
  • Begin taking solid, focused, all-round sustainability action ASAP

 

References:

1) This case study is based on published information by FAB, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to FAB: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.