OCI employees with the CEO
OCI employees become shareholders for the 2nd year
MUSCAT, May 28, 2024
Oman Cables Industry (OCI), the leading cable solutions provider in Oman, has announced the continued success of its inclusive share ownership plan, now in its second consecutive year.
This groundbreaking initiative, first introduced in 2022, emphasises OCI's commitment to empowering its employees and giving back to them this year. Notably, 70% of all OCI employees have doubled their shares within the past year as a result of the programme's success.
This plan aligns with the Environmental, Social and Governance approach, reflecting OCI’s commitment to retaining and empowering its workforce. The plan covers both desk workers and non-desk workers and is a cornerstone of OCI's 'Empowerment, Innovation, and Excellence' vision.
Shares of Prysmian Group
It grants employees shares of Prysmian Group, OCI’s strategic partner, based on achieving specific local and regional targets.
Erkan Aydogdu, CEO of Oman Cables Industry, commented: “This remarkable accomplishment highlights our commitment to recognising and rewarding our team’s dedication while fostering a diverse and inclusive workplace. At OCI, we continuously seek innovative ways to empower our employees and involve them directly in our collective success.”
This initiative, as part of OCI’s vision, is contributing to Prysmian Group’s Social Ambition 2030, which aims to bring 50% of employees globally on board as shareholders and enhancing the financial engagement of the employees towards long-term interests and performance of the company.
As a pioneering move in the industry, OCI has implemented a comprehensive welfare policy which states that in the unfortunate event of an employee’s demise under specific conditions, the company will provide a monthly subsidy to the spouse or child under their 19th birthday or for a period of maximum 15 years whichever comes first.
OCI's successful share ownership plan, along with its employee welfare and parental support policies, reflects a steadfast commitment to building a positive and engaging environment for its workforce. As OCI continues to prioritise the well-being of its employees, it sets a benchmark for inclusive growth and sustainable development in the industry. --TradeArabia News Service
