PNJ SUSTAINABLE DEVELOPMENT REPORT 2015

Transcription

PNJ SUSTAINABLE
DEVELOPMENT REPORT 2015
TABLE OF CONTENTS
CHAIRWOMAN’S MESSAGE05
PNJ’S JOURNEY TO CREATE GOLDEN VALUES 06
PNJ - 27 Years of Golden Values Creation10
Corporate governance for the golden goals32
Golden commitments with stakeholders46
About this report 50
GOLDEN FOUNDATION FOR SUSTAINABLE DEVELOPMENT 52
Creativity is the golden key to success PNJ Creating Council54
Strong economic foundation
Economic effectiveness56
Ensuring financial conditions for staffs
57
Environmentally Friendly Effective and economical use of resources
58
Creative and effective energy - Saving solutions
60
Water – Core factor of sustainable development
63
Environment protection – Beyond compliance purposes
64
Moving towards a sustainable society
“Common house” - The Identity of PNJ’s cultural
68
PNJ cultural festival - different shades yet one spirit
69
Product responsibility70
Development of a golden - quality labor force72
Commitment to community development80
COMPLIANCE WITH STANDARDS
86
Comparison checklist with the Circular 155’s standards
88
Comparison checklist with GRI - G4 standards
89
Sustainable Development Report PNJ 2015 3
CHAIRWOMAN’S MESSAGE
Dear Shareholders, Customers, and other Stakeholders,
In 2015, the Vietnamese economy has expanded remarkably with the highest GDP growth rate in the last
5 years. The GDP growth rate in 2015 is 6.68% compared to 2014. However, businesses in the jewelry
industry face enormous challenges due to the instability of gold prices and the lack of transparency of
product quality and the financial roles of the free jewelry market.
In dealing with these challenges during 2015, PNJ has put in tremendous efforts and achieved great
growth regarding the financial performance as well as the product distribution system all over the country
and thus, brought our brand name to the world. This success results from the incessant creativity and
effort of the management team, the board, and all PNJ employees. Besides, the trust of the Shareholders,
Customers, and other Stakeholders has been an indispensable factor in making this success.
To further its achieved success, PNJ recognizes that the harmony and connection between company’s
benefits and human, society and environment development are essential. From the very first days
of establishment, PNJ has considered this as our business philosophy: “To consider the benefits of
our customers and the society as our own benefits” and soon realized that following the sustainable
development model is the direction of all of the company’s activities during the last 27 years. Thus, PNJ
always ensures to make the Sustainable Development goals our top priority, these include focusing on
specializing the labor force, improving the supply chain, developing creative products, and protecting
the environment as well as participating in regular activities that promote social security. These are also
the key factors in the future strategies of PNJ and the main contents on our Sustainable Development
Report 2015, which was analyzed thoroughly in three aspects: Economy – Environment – Society.
Given this is the first year that PNJ develops a Sustainable Development Report, we hope to give the
Shareholders, Customers, and other Stakeholders a clear and visible picture of the operations, strategies
and future orientations of the company.
We are confident that, with the sustainable development model that the firm has been utilizing, along
with the support, trust, and efforts of the shareholders, customers, employees and other stakeholders,
PNJ will continue to grow strongly and sustainably in the future, which will allow us to adhere to our
vision of being the top jewelry manufacturing and retailing firm in Asia and maintaining the top position
in the mid and high end jewelry market in Vietnam.
Thank you.
Best regards,
On behalf of the Board of Directors,
Chairwoman and CEO
Cao Thi Ngoc Dung
Ms.
CAO THI NGOC DUNG
Chairwoman and CEO
1. PNJ - 27 years of creation
2. Corporate governance for the golden goals
3. Golden commitments with stakeholders
4. About the report
CORPORATE INFORMATION
PHU NHUAN JEWELRY JOINT STOCK COMPANY
Vietnamese Name
: Công Ty Cổ Phần Vàng Bạc Đá Quý Phú Nhuận
Abbreviation: PNJ
Headquarter
: 170E Phan Dang Luu St., Ward 3, Phu Nhuan District, HCM City
Telephone Number
: (08) 3995 1703
Fax
: (08) 3995 1702
Website : www.pnj.com.vn
Chartered Capital
: 982,745,770,000 VND
Securities code : PNJ
As of 31/12/2015
PNJ has the following subsidiaries and associates:
• CAO Fashion One member Limited Liability Company - Subsidiary
• PNJ Testing One member Limited Liability Company - Subsidiary
DEVELOPMENT HISTORY
PNJ - 27 YEARS OF CREATION
O
I
n March 2009, , PNJ’s shares were
officially listed on HOSE.
In August 2009 CAO Fashion Co.,
Ltd. was established.
C
I
P
NJ’s distribution system has
been expanded rapidly.
O
n 28 April 1988, Phu Nhuan
Jewelry Trading Store was
founded.
In 1992, PNJ was officially named
Phu Nhuan Jewelry Company, as
well as identified the development
strategy as a professional jewelry
manufacturer and trader.
1988 - 1992
ESTABLISHMENT AND
IDENTIFICATION OF
DEVELOPMENT STRATEGY
10 Sustainable Development Report PNJ 2015
In 1994, PNJ Hanoi branch was
established, starting the expansion
strategy of distribution network in
big cities, such as Da Nang in 1998,
Can Tho in 1999. This period was
also the stamp of building PNJ as
a professional brand, PNJ jewelries
started to be exported.
1993 - 2000
QUICK EXPANSION OF THE
DISTRIBUTION NETWORK AND
BUSINESS LINES
n 2001, PNJSilver was officially
launched,
along
with
the
continuous development PNJ Gold,
through big marketing campaigns
which was under the sponsor of the
World Gold Council.
On 02 January 2004: PNJ officially
implemented
equalization,
transformed
from
state-run
enterprise into Phu Nhuan Jewelry
Joint Stock Company.
Also at this period, PNJ was
awarded Top 500 Leading Retailers
in Asia Pacific and The First Class
Labor Medal.
2001 - 2004
2004 SPEEDED UP BRAND
BUILDING AND IMPLEMENTED
EQUITIZATION
AO Fine Jewelry - a luxury
jewelry brand was officially
launched; PNJSilver re-launched
with new images; PNJ was the
crown and jewelry sponsor for
the Miss Universe 2008 held in
Vietnam.
On 03 April 2008, in order to
celebrate 20 years of establishment
and development, PNJ officially
announced the new logo which
was more professional, modern
and worthy images for the new
journey. PNJ became one of the
200 largest companies in Vietnam
as announced by UNDP and
was honored to the Third Class
Independence Medal.
2005 - 2008
RE-LAUNCHED AND
DEVELOPED LUXURY
BRAND
PNJ Jewelry Enterprise was opened
after 18 months of construction,
as one of the biggest jewelry
processing enterprises in Asia.
n
10
September
2013,
PNJSilver officially repositioned
the brand. PNJ gold jewelry brand
announced new message “Seeing
the Quality in You” to honor the
values of “gold”.
PNJ restructured to standardize the
management system according to
the international standards.
In 2015, PNJ opened lots of jewelry
centers in the provinces and cities
of Vietnam increasing the total
number of jewelry retail stores to 194
nationwide.
PNJ opened the offices and jewelry
centers in Kien Giang, Binh Duong,
Bien Hoa, Hanoi, and Da Nang as the
largest jewelry stores in these areas.
Especially, PNJ officially launched
the largest jewelry, diamond and
watch center at 52A-52B Nguyen
Van Troi street, Phu Nhuan district,
Ho Chi Minh City.
With steady steps along with
achievements, PNJ has affirmed
the vision: becoming the leading
jewelry processor and retailer in Asia
market and securing the number one
position in the segment of medium
and high class jewelry in Vietnam.
2009- 2013
2013- 2015
THE FIRST COMPANY IN THE
JEWELRY INDUSTRY TO LIST
ON STOCK MARKET
RESTRUCTURING,
SUSTAINABLE
DEVELOPMENT
KEY BRANDS AND PRODUCTS
PNJ GOLD JEWELRY BRAND
S
ince its launch in 1988 until now, PNJ Gold
Jewelry brand always keeps innovating to
continuously launch hundreds of collections with
diversified gold materials and abundant gemstones
with pioneering breakthrough designs, contributing to
honor the beauty, the elegance and class of Vietnamese
consumers.
The PNJ Gold jewelry products always have a
harmonious combination between the elegance and
uniqueness, between fashion and modernity, every
detail is designed lively by talented designers and
skillful hands of skilled jewelers, to ensure the high
sophistication and high aesthetics of the products,
meeting the tastes of every customer.
PNJSILVER BRAND
A
ppearing in Vietnam jewelry market in 2001,
until now PNJSilver is like a modern young girl
always leading the trend with diversified and
novel silver jewelry and accessories. With fashionable
and dynamic violet pink color, PNJSilver is proud to
be an easily identified jewelry brand at many shopping
centers in Vietnam, meeting the fashionable jewelry
thirst of the youth, the main group of customers that
PNJSilver is aiming at.
CAO FINE JEWELRY BRAND
JEMMA JEWELRY BRAND
B
eing launched in 2005, CAO Fine
Jewelry gradually conquers the highend consumers by its unique and
differences of a luxury brand. Cao Fine
Jewelry products are manufactured from 18K
gold and the most beautiful and precious
stones with special shapes and tones – all
are guaranteed about the illumination and
cuts, which all come from the leading global
names in the field of gem cutting or testing.
Placing CAO jewelry centers at the most
luxurious shopping areas of Saigon and
Hanoi shows a correct vision and strategy
of CAO Fine Jewelry on the way to conquer
the high class customers as well as the direct
competition with the currently international
jewelry brands in Vietnam.
B
eing inspired by the fashion accessories
trend that is animatedly in the world,
Jemma is a high class jewelry and
accessories brand launched at the end of
2009. With the development orientation of
a high class and modern jewelry, accessories
brand, Jemma is a new option bringing
the elegance and nobleness to women. All
Jemma products are designed in a modern
style, updating the latest fashion trends with
diversified materials from silver, high class
alloy and colorful semi-precious stones to
create unique fashion jewelry products, not
only showing the class, fine taste but also
bringing the pride to the owners.
CORPORATE GIFTS
W
ith the strength of the design ability,
processing technology and a team of skillful
craftsmen and jewelers, PNJ not only has
the jewelry masterpieces honoring the beauty and
the pride of women, but also is one of the first brands
developing the product line of Gifts for Company. The
Gifts for Company field has 6 major product lines to
help the company have more options to express the
appreciation, gratitude or mark a development stage
in the history of the brand.
• Honor Gifts
• Gift Cards
• Jewelry Gifts
• Fashion Gifts
• Gift Masterpiece
• Gold Bar and Ring
DIAMOND, GEMSTONES, PRECIOUS METALS TESTING SERVICES
T
hrough 20 years of operation in the field of testing service
with a team of experienced testing experts who regularly
update their knowledge, together with modern equipment
and technology, PNJLab established by PNJ has been confirming
its reputation to domestic and foreign customers. PNJLab is
currently the leading testing company in Vietnam market and
is one of a very few companies that was successfully built and
operated by international standard ISO/IEC 17025.
The certificates of PNJLab are based on the strictest testing
standards of the world like the diamond testing based on the
standards of GIA - Gemological Institute of America. PNJLab
is also one of the few companies licensed by Directorate for
Standards and Quality (Ministry of Science and Technology)
to identify the content of gold, gold jewelry, and crafts ... of
companies or individuals when there is any dispute
THE EXISTING SERVICES OF PNJLAB
• Testing, consulting on Diamond.
• Testing, consulting on gemstones, semi-precious stones.
• Testing, consulting on gold, silver, precious metals, colored metals.
• Engraving letters on diamond as requested.
• Engraving letters on diamond as requested.
BUSINESS SCALE
KEY FINANCIAL HIGHLIGHTS
REVENUE
(Unit: VND billion)
PRODUCTS VOLUME
REVENUE BY PRODUCT SEGMENTS
EPS
(Unit: VND thousand)
CONSUMPTION LEVEL OF GOLD BAR AND
GOLD JEWELRY IN VN
(Unit: tons)
GROWTH IN RETAIL GOLD JEWELRY REVENUE
9,500
9,000
8,914
9,199
8,500
7,708
8,000
7,500
7,000
6,500
2013
2014
2015
PROFIT AFTER TAX
(Unit: VND billion)
300
WORLD’S GOLD PRICE
(USD/oz.)
256
250
200
169
152
150
100
50
2013
2014
2015
* EPS in 2014 and 2013 are adjusted using the number
of shares adjusted in 2015, which is 98,273,868 shares,
with the increase in number of shares from 2014’s profit
taken into account.
Source: Rong Viet Securities’ evaluation report, July 4th 2016
BUSINESS SCALE
REORIENT CORE BUSINESS ACTIVITIES
After restructuring the strategies and operational
system in 2012, PNJ reoriented the business goals of
the enterprise, focusing on jewelry business, which has
long been the core business activity of the company.
This orientation once again reaffirmed PNJ’s vision of
OPERATIONAL INDICATOR
becoming the leading jewelry processor and retailer
in Asia market and securing the number one position
in the segment of medium and high-end jewelry in
Vietnam.
TOTAL ASSETS
(Unit: VND billion)
3,000
SUCCESSFULLY COMPLETE THE 2014 MISSION
In 2014, PNJ has completed our targets with impressive results:
• Total consolidated revenue reached VND 9,199 billion
• Profit after tax reached VND 256 billion, a 51.5% increase compared to that of 2013
• EPS of 2,144 VND/stock, a 49.5% increase compared to that of 2013
2,950
In 2015, PNJ’s Board of Directors advocated reducing
the proportion of bullion trading business as it is much
affected by the fluctuations in market price and has
low gross profit margin. Instead, PNJ continued to
promote the business line of medium and high-end
jewelry. This strategy not only helped improving the
gross profit margin of PNJ in 2015, but also affirmed
the importance of the jewelry business as our core
activity. Unconsolidated revenue of PNJ in 2015
reached VND 7,697 billion, a 7% increase compared
to that of 2014. Gold jewelry business yielded 77% of
total revenue and 87% of gross profit of the company.
However, the company’s profit after tax decreased
by 40.6%, only reaching 152 billion VND due to the
Provisions for impairment of financial investments at
VND 300 billion as well as other financial expenses.
The provisioning allows the financial picture of PNJ to
be seen more clearly and helps reflect the core business
of PNJ more accurately. Excluding these expenses,
PNJ’s profit after tax in 2015 would reach 452 billion
VND, a 76.5% increase over the same period.
STRONG GROWTH EXPECTATIONS IN 2016
On July 4th 2016, Rong Viet Securities released an evaluation report about growth
prospects and expectations for PNJ shares in 2016. Rong Viet’s experts believe
that the appropriate price for PNJ share is about 101,000 Vietnamese
dong/share, 32% higher than the closing price on July 4th 2016.
This is a good sign for PNJ’s Shareholders and strategic
Investors about its ability to grow enterprise
value in the long-run.
2,975
2,957
1,400
2,900
1,350
2,850
1,300
2,829
2,800
IN 2015, CONTINUE THE GROWTH MOMENTUM
SHAREHOLDERS' EQUITY
(Unit: VND billion)
1,318
1,297
1,250
1,200
2,750
2013
2014
2015
2013
CHARTERED CAPITAL
(Unit: VND billion)
1000
800
1,394
2014
NUMBER OF STORES
983
756
150
400
100
200
50
2014
194
200
756
600
2013
2015
2015
148
2013
165
2014
2015
GROWTH IN SIZE AND EXPANSION OF RETAIL DISTRIBUTION SYSTEM
In addition to achieving the financial targets, in 2015,
PNJ also completed the task of expanding the retailing
network by opening 48 new stores across the country,
reaching 140% of the plan. Total assets in 2015 also
increased by 5% due to fluctuations in the following
categories:
• Inventories increased by 16.4%(While the number
of retail stores increased by 18% compared to 2014)
• Fixed assets increased by 1.2%
• Long-term financial investments decreased by 13%
(due to provisions)
Besides, BOD also decided to increase the company’s
chartered capital under the form of: issue additional
shares to pay 2014 dividends and to increase
Shareholders’ equity by 22,677,542 ordinary shares.
BUSINESS SCALE
WORKFORCE SCALE
CAPITAL STRUCTURE
TOTAL OFFICIAL
EMPLOYEES
3,274
EMPLOYEES
2,352 Employees
2,818 Employees
2013
8%
From 40 - 50 years old
2014
3,274 Employees
31%
OTHERS
FOREIGN SHAREHOLDERS
2015
2%
Over 50 years old
38%
59%
From 30- 40 years old
49%
SHAREHOLDING
STRUCTURE
51%
EMPLOYEE
SEGMENTATION BY
Smaller 30
AGE
The total number of employees of PNJ as of 31/12/2015
is 3,274, an increase of 39.2% compared to that of
2013. The strong growth reflects the company’s
objective of expanding the retail system in Vietnam
market, with 48 new stores being opened across the
country during the period from 2013 to 2015.
PNJ’s workforce is a team of young, active and
innovative individuals, with 90% of the workforce
are under 40 years of age. The combination of this
together with a desirable working environment and
competitive training and benefits policiesis considered
62%
Female employee
EMPLOYEE
SEGMENTATION BY
Staff Nam
GENDER
to be the solid foundation and great advantage of PNJ
in the journey to conquer the goals of “Sustainable
Development”.
Besides, at PNJ, we also emphasize the importance
of gender equality in the workforce. This is clearly
expressed in the labor allocation by gender, with 62%
of employees are women. The key positions in the
management level are also taken up by female leaders,
who account for 4/7 members in the Board of Directors
and 3/5 members of the Board of Management.
SUPPLY CHAIN DESCRIPTION
PNJ JEWELRY ENTERPRISE
MATERIAL SUPPLY CHAIN
• Total space used: 12,500 m2
• PNJ jewelry products are made from silver, gold, precious stones,
semi-precious stones,… from over 100 reliable suppliers within
Vietnam and from Italy, Japan, Hong Kong and Thailand...
• Direct labor: 1,000 workers.
PACKAGING SUPPLIERS
• PNJ sets high expectations regarding packaging designs and
thus always seeks to choose the most reliable suppliers both
within and outside of Vietnam that satisfy our strict quality
standards.
• There are 12 suppliers that satisfy PNJ’s packaging. On average,
5 million products are purchased to use in production and meet our
customers’ demand.
MATERIAL SUPPLY CHAIN
PNJ JEWELRY ENTERPRISE
• Average purchase quantities are: 7,000 kg of gold, 2,000 kg of
silver, 630 thousands of diamonds, 200 thousands precious
and semi-precious stones,… to meet the production and
business demand
QUALITY COMMITMENT TO CONSUMERS
• Number of stores: 194, including
125 PNJGold stores, 65 PNJSilver
stores and 4 CAO stores.
• Always guaranteeing the resources’ quality to make high quality
products; every member commits to accomplish assigned tasks
with the best quality and not to deliver substandard products
to anyone else.
• PNJ guarantees that warrantied products’ quality are as high as that
of new products.
• PNJ also manufactures and exports products
of different quality level to Germany, U.S., and
Australia. PNJ currently has 5 product categories
ranging from medium-end to high-end and super
high-end jewelry.
DISTRIBUTION SYSTEM
Develop all three distribution channels:
retail, wholesale andexport, with key
focus on retail business
QUALITY COMMITMENT TO CONSUMERS
• PNJ holds full responsibility for our product quality within 6
months through our Warranty Center.
• Main products: PNJ Gold; PNJSilver; Cao;
Jemma; PNJ Wholesale; Exporting gold and
Wedding jewelry, Corporate Gift Set.
• Total product volume:
796,830 products
• Revenue: 3,291,144,383,991 VND
DISTRIBUTION SYSTEM
• PNJ guarantees our customers’ inquiries and claims will be handled
within 1/2 working days.
SUPPLY CHAIN DESCRIPTION
METHODS 5S
PNJ’s supply chain is a sustainable circle, in which
each component plays an equally important role in
providing consumers withtop-quality products. We
apply the most advanced international standards on
every stage of our supply chain. From raw materials raw gold, precious gems, etc. that are imported from
global leading suppliers to PNJ Jewelry Enterprise with
hundreds of skilled artisans, who work day and night
to produce and distribute end-products to PNJ’s stores
across the country.
All our products are certified and recognized
worldwide. This helpsbuild the trust from our clients
in our gold age and color gemstones quality.
PNJ applies the 5S methodology in management in order to reduce production and business waste, reduce nonvalue-adding activities, create a constantly improving working environment, and improve health and quality
situation.
S1. SORT
: Eliminate the unnecessaries from the working environment
S2. SET IN ORDER : Put everything into a specific order that allows convenient and safe usage
S3. SHINE : - Keep our plants, equipments, and working environment clean
S4. STANDARDIZE
S5. SUSTAIN
: Maintain S1, S2, and S3 daily
: - Create the habit of implementing 5S in the workplace
THE ECONOMIC, ENVIRONMENTAL AND SOCIAL PRINCIPLES, INITIATIVES
THAT PNJ SUBSCRIBES TO OR ENDORSES
With the desire to promote a healthy business environment, market products and ensure products’ quality to end
users, PNJ participates actively in several local and global economic, environmental and social Associations,
Clubs and Forums.
Ms. Cao Thi Ngoc Dung - PNJ’s Chairwoman and CEO, plays important roles in the associations and forums that
PNJ is involved in, including:
• President of the Ho Chi Minh City Association for Women Executives and Entrepreneurs (HAWEE)
• Vice President of the Vietnam Gold Trading Association
• Vice President of the Vietnam Association of Women Entrepreneurs (VAWE)
Vietnam Association For Women Entrepreneurs
Hieäph oäiN öõ Doanh nhaânV ieät Nam
VGTA
LIST OF PNJ’S INVOLVEMENTS IN ECONOMIC, ENVIRONMENTAL, AND SOCIAL ASSOCIATIONS
AND ORGANIZATIONS
• Ho Chi Minh City Young Businesspeople Association
• Ho Chi Minh City United Business Association
• Vietnam Young Entrepreneurs Association
• Saigon Jewelry Association
• Ho Chi Minh City Director Club of Jewelry Businesses
• Vietnam High Quality Product Business Association
• Phu Nhuan Business Association
• Leading Brands Club (LBC)
• Top 500 Leading Brands Club
• Association of Vietnam Retailers
• Vietnam Gold Trading Association
• Vietnam Association of Women Entrepreneurs (VAWE)
• Ho Chi Minh City Association for Women Executives and Entrepreneurs (HAWEE)
VISION - MISSION - CORE VALUE
SUSTAINABILITY DEVELOPMENT PHILOSOPHY
MISSION
PNJ brings customer pride with elegant, outstanding quality jewelry products.
CORE VALUES
HONESTY
Legal profit and business ethics are the base for every activity; Building credibility and
transparency to earn trust; Consistently fighting against all dishonest actions.
QUALITY
Always guaranteeing the resources’ quality to make high quality products; Every member
commits to accomplish assigned tasks with the best quality and not to deliver substandard
products to anyone else.
RESPONSIBILITY
Every individual commits to live responsibly with himself, his family, the company and the
community; Carrying out excellently every task with voluntary, active, creative and dedicated
spirit; Always pioneering in pursuing and realizing difficult tasks with the spirit to win.
INNOVATION
Do not be complacent with achievements. Be open, willing to learn and apply new knowledge,
experience and skills; Constantly improving to optimize benefit for the company.
CREATIVITY
Meeting customers’ expectation is a base to orient creativity; With responsible spirit and
passion, every member of the company and the company itself commit to create continuously,
offer breakthrough solutions, and produce outstanding products and services.
VISION
SUSTAINABILITY DEVELOPMENT PHILOSOPHY
Becoming the leading jewelry processor and retailer in Asia market and
securing the number one position in the segment of medium and high-end
jewelry in Vietnam.
To take into account the benefits of our customers and the society into our own benefits.
CORPORATE GOVERNANCE FOR THE GOLDEN GOALS
GOLD ACHIEVEMENTS
BEFORE 2015
YEAR 2015
LEADERSHIP AWARD
1. National Gold Quality Award 2011
10. Vietnam Gold Star Award in 2003 – 2013
1. High Quality Vietnamese Goods Award 2015
1. Ms. Cao Thi Ngoc Dung – General Director of
2. National Brand 2010 – 2012 – 2014
11. PNJ was established the Vietnam record “The first
2. Top 100 Vietnam best workplaces
3. Human Resources Director of PNJ – Nguyen
3. High Quality Vietnamese Goods Award for 19
consecutive years
4. Asia Pacific Quality Award 2011
5. Top 50 companies with the most effective
business in Vietnam
6. Top 500 leading Retailers in Asia Pacific and
7. Top 3 leading Retailers in Vietnam 2003 – 2014
8. The only jewelry company of Vietnam ranked
the 16th in top 500 largest jewelry production
and trading companies in the world announced
by Plimsoll (UK) in 2012
9. Powerful Brand Award
company investing in the most modern and big
jewelry production technology in Vietnam - 2007
12. The Third Class Independence Medal (2008)
4. Top 50 best listed companies in Vietnam 2015
14. PNJ was established the record about the biggest
5. The Jewelry collection “Spring of Peace” won at
golden bandanna in Vietnam (10 November 2013)
15. PNJ sponsored national gifts and exclusive
Jewelry for Vietnamese representative to attend
the Miss Universe 2013
16. Certificate of Merit from Minister of Science &
Technology about the application of innovation
in the production and business activities.
10. The best Vietnamese Brand Award in 2007
PNJ was the only female entrepreneur in Top
5 entrepreneurs awarded the Ernst & Young
International Award, EY Entrepreneur of the
Year.
Thi Ngoc Minh – won the Human Resources
Director Award in 2015 announced by Towers
Watson Vietnam Consulting Company
13. The First, Second and Third Class Labor Medals,
(2003, 2000 and 1995)
PNJ was awarded the First Class Labor Medal
announced by Forbes magazine
the regional selection round of Creative Asean
Design Competition 2015
PNJ received the 50 pioneers award selected by
VNExpress
4. Ms. Cao Thi Ngoc Dung – General Director
6. The award “Employer of the Year” - JNA Awards
of PNJ was one of 10 most successful female
entrepreneurs in 2013 selected by Forbes
Magazine
7. Top 500 leading Retailers in Asia Pacific 2015
2015 offered by Jewelry News Asia magazine
selected by Retail Asia Publishing
8. Top 50 greatest value Brands in Vietnam 2015
PNJ received the 50 company directors award
selected by Nhip Cau Dau Tu
announced by Brand Finance (UK): PNJ was
ranked the 20th and the only jewelry company
in this list
9. PNJ Phoenix Dress was recorded by Vietnam
Record Center as “Vietnamese dress with
biggest gold Phoenix icon” and was named to
the World Unique Collection recognized by the
World Unique Creativity Academy
Quality Award
Asia Pacific
Top 500 Retailer Top
Asia Pacific
National Brands
Top 100 Workplace
Best Vietnam
Certified 50 companies
Best Listed Vietnam
Prize
“Employer of the Year”
- JNA Awards 2015
Business leaders
Excellent career
MILLENNIUM SUSTAINABLE DEVELOPMENT
GOALS OF THE UNITED NATIONS
GOLDEN GOALS
From 25/09/2015to 27/09/2015, the United Nations
Sustainable Development Summit was held in New
York, U.S. withthe participation of Leaders from 193
member countries. The Summit has officially adopted
the 2030 Agenda, which focuses on Sustainable
Development. In order to achieve the set goals for a
better and more sustainable world, the Summit also
called for the unity of the community all over the
world, from governments, enterprises to all individual
citizens.
At PNJ, we understand that the success of a corporate is judged not only from the financial statistics but also
through its contributions to the sustainable development of the environment, society, and people.
ECONOMY – ENVIRONMENT – SOCIETY
Therefore, based on the contents of the 17 Sustainable Development Goals of the United Nations, PNJ has
analyzed, selected and integrated these goals into our own Sustainable Development orientation and goals.
• Increase revenue and profits sustainably.
• Optimize shareholders’ and investors’ values.
• Improve customer awareness, not only within Vietnam but
also overseas.
• Invest effectively
in community
projects.
• Establish stable
working and
economic
conditions for
local workers.
• Establish a healthy and ideal working
environment for workers.
• Use natural resources effectively and
economically.
• Attract, nurture, and keep talents.
• Effectively control toxic waste from production.
• Effectively implement environment protection
actions.
2016 GOALS AND TO-BE-IMPLEMENTED SOLUTIONS
ORGANIZATION CHART
ANNUAL SHAREHOLDER
MEETING
SUPERVISORY
BOARD
BOARD OF DIRECTORS
BOARD OF
DIRECTORS’ OFFICE
BOARD OF MANAGEMENT
MANAGEMENT
REPRESENTATIVES
BUSINESS
DEPARTMENT
SUPPLY CHAIN
DEPARTMENT
MANUFACTURING
DEPARTMENT
FINANCE & ACCOUNTING
DEPARTMENT
BRAND
MANAGEMENT
RETAIL
PLANNING AND
FORECAST
JEWELRY ENTERPRISE
FINANCE
RECRUITMENT
NORTHERN
BRANCH
MARKET
RESEARCH
WHOLESALE
SUPPLY CHAIN
FUNCTION
WARRANTY CENTER
ACCOUNTING
TRAINING
CENTRAL
BRANCH
CUSTOMER
RELATIONS
EXPORT
WAREHOUSE AND
LOGISTICS
PAYROLL, BENEFITS & HUMAN
RESOURCES PLANNING
WESTERN
BRANCH
MEDIA
ADMINISTRATIVE
MANAGEMENT
EFFECTIVENESS
MANAGEMENT
ECOMMERCE
SYSTEM
DEVELOPMENT
IT
MARKETING
DEPARTMENT
HUMAN RESOURCES
DEPARTMENT
DESIGN
MANAGEMENT STRUCTURE
COMMITTEES/INDIVIDUALS IN CHARGE OF ECONOMIC, SOCIAL,
ENVIRONMENTAL ISSUES
BOARD OF MANAGEMENT
BOARD OF DIRECTORS
Ms. CAO THI NGOC DUNG
Chairwoman
Ms. CAO THI NGOC DUNG
General Director
Mr. NGUYEN VU PHAN
Vice Chairman
Ms. NGUYEN THI CUC
Member of BOD
Mr. NGUYEN TUAN QUYNH
Member of BOD
Ms. NGUYEN THI BICH HA
Member of BOD
Ms. PHAM VU THANH GIANG
Member of BOD
Mr. PHAN QUOC CONG
Member of BOD
SUPERVISORY BOARD
Mr. TRAN VAN DAN
Head of the Supervisory Board
Ms. NGUYEN THI CUC
Vice General Director
Mr. NGUYEN VU PHAN
Mr. LE HUU HANH
Ms. PHAM THI MY HANH
Ms. NGUYEN NGOC HUE
Member of the Supervisory Board
COMMUNICATION PROCESSES WITH STAKEHOLDERS REGARDING
ECONOMIC, ENVIRONMENTAL, AND SOCIAL ISSUES.
HIGHEST APPROVING AUTHORITY OF THE SUSTAINABLE
DEVELOPMENT REPORT 2015
PNJ has developed and implemented internal communication processes with stakeholders, in order to solve all
inquiries and feedbacks of stakeholders regarding economic, environmental, and social issues.
PNJ guarantees responding to our stakeholders with the most transparent and accurate information within the
shortest time frame. For information about committees/units in charge of economic, environmental, and social
issues, please refer to section “Committees/Individuals in charge of economic, environmental, and social issues”.
Ms.
CAO THI NGOC DUNG
Chairwoman and CEO
All the information published in the Sustainable Development Report 2015 is approved by
Ms. Cao Thi Ngoc Dung – PNJ’s Chairwoman and CEO
GOLDEN COMMITMENTS WITH STAKEHOLDERS
LIST OF STAKEHOLDERS
PNJ identifies stakeholders based on impacts that PNJ’s
activities have on related individuals/organizations or
impacts that related individuals/organizations have on
PNJ’s activities.
The relationship between PNJ and stakeholders are built
on business ethics, philosophy, trust, transparency,
and the ability to maintain and satisfy the long-term
benefits of both parties.
CONNECTING STAKEHOLDERS
PNJ always listens to our stakeholders’ feedbacks
regarding the corporate’s activities, especially issues
related to corporate governance, human resources
development, economic growth, contribution to the
community, and environment protection.
PNJ gets access to and exchanges information with
stakeholders via various sources and channels. This
information exchange process allows PNJ to have a
big picture about the corporate’s activities, current
strategies, and future orientations.
GOLDEN COMMITMENTS WITH STAKEHOLDERS
CONNECTING STAKEHOLDERS
ABOUT THIS REPORT
OVERVIEW
Sustainable Development Report 2015 is PNJ’s first Sustainable Development Report and is prepared separately
from the Annual Report. PNJ prepares this report in order to aggregate and evaluate the company’s activities
to follow the sustainable development orientations, being categorized into three dimensions i.e. Economic Environmental - Social.
REPORT’S INFORMATION
CONTACT DETAILS
• Reporting period: same as Annual Report 2015, ends at 31/12/2015.
The comments to the report or questions concerning the report can be sent to:
• Sustainable Development Report is prepared annually.
• Data and information in this report is as of 31/12/2015.
PNJ commits to present information in the most accurate and reliable possible way to the Shareholders, Customers,
Partners and other Stakeholders.
BENCHMARKING STANDARDS
PNJ’s Sustainable Development Report 2015 is prepared based on:
• Circular No.155/2015/TT-BTC of the Ministry of Finance issued on 06/10/2015 on
“Guidance on information disclosure on the securities market”.
• Sustainable Report development guidance of the Global Reporting Initiative (GRI - G4).
Detailed requirements for Sustainable Development of Circular No.155/2015/TT-BTCand GRI - G4 standards,
please see at “Compliance with standards”section.
Mr. HUYNH VAN TAN - Communication Director
Email: [email protected]
1. Creativity is the golden key to success
2. Strong economic foundation
3. Environmentally Friendly
4. Moving towards a sustainable society
CREATIVITY IS THE GOLDEN KEY TO SUCCESS
PNJ CREATING COUNCIL
CREATIVITY MOTIVATING CAMPAIGN “WHAT’S NEW TODAY?”
As a firm operating in the jewelry industry, PNJ
understands that to stop innovating equals to "Death".
Therefore, in 2015, PNJ’s Board of Directors has
approved the establishment of the PNJ Creating
Council - PCC for the purpose of organizing, orienting,
motivating and gathering individuals as well as
organizations that affiliate to PNJ to innovate in order
for PNJ to become an innovative company on its path
to achieve its vision and mission.
At the end of 2015, PNJ planned to start the program
“What’s new today?” aiming to promote creativity
competition, improve and refresh the daily activities
of each individual, department and the community
within the firm. The program has helped form the
culture of being creative within the firm and contribute
to its sustainable development. The creative ideas of
each unit will be reviewed and evaluated by the PNJ
Creating Council and will be deployed if feasible.
ROLES AND RESPONSIBILITIES OF THE COUNCIL
THE PRIORITY AREAS OF CREATIVITY
• Organize and manage theinnovation processes and activities of the company
• Product creativity
• Marketing creativity
• Service quality and customer service creativity
• Operation, management, innovation and process improvement creativity
• Review, evaluate and approve the practical innovative ideas that are proposed
• Report directly to the Board of Directors on the results of innovation activities throughout the company, develop
relevant policies to put innovative activities into practical results for the company.
THE ORGANIZATIONAL STRUCTURE OF THE COUNCIL:
SOME REMARKABLE CREATIVE IDEAS DURING 2015
• Design contest that creates the “PNJ Phoenix Dress”
• “Red Brick” project
• “PNJ House” program
• Energy-saving ideas (please find more details at “Outstanding energy-and-material-saving initiatives in 2015”section).
STRONG ECONOMIC FOUNDATION
ECONOMIC EFFECTIVENESS
ENSURING FINANCIAL CONDITIONS FOR STAFFS
PNJ acknowledges and values the importance ofour staffs. Thus, PNJ continuously strives to create a healthy
working environment and ensure the best economic conditions for our employees.
Having been in the “Top 100 best companies to work at in Vietnam” for years, PNJ is highly appraised because
of our fair and transparent compensation policies and attractive salaries.
Average employee salary: VND 10.6 million
ENVIRONMENTALLY FRIENDLY
EFFECTIVE AND ECONOMICAL USE OF RESOURCES
SOUND CONTROL OF MATERIALS USED IN
PRODUCTION AND PACKAGING
As one of the largest jewelry manufacturers and retailers in Asia,
PNJ understands that our manufacturing and business activities
have certain impacts on the surrounding environment. Thus,
PNJ management always focuses on raising awareness of our
employees on:
SUPERIOR PRODUCTION CAPACITY
“ No
challenge poses a
greater to future generations
than climate change.
”
U.S. President, Barrack Obama.
PNJ’s Manufacturing Division always focuses on
improving skills as well as applying new technology
initiatives in production processes to not only
increasingly improve product quality but also to save
a significant amount of materials, thereby optimize
production cost and minimize negative impacts on
natural resources and the environment.
The actual materials attrition rate of the manufacturing
division gradually decreases over the last few years.
In 2015, it is only 1.18% of total materials used
in manufacturing of the company. This is a truly
remarkable effort of the production department, as the
allowance of materials attrition rate is 5%, which is
also specified in contracts with overseas partners.
• Environment protection issues and responses towards climate
change
•Strict control of waste processing at PNJ’s manufacturing sites and buildings, ensuring compliance with
environmental regulations
•Minimize the usage of unnecessary energy, resources and materials, thereby help decrease negative impacts on
the environment and society
The amount of materials that PNJ used in manufacturing and packaging does not increase significantly over the
last few years (apart from key materials such as gems, gold, silver, brass and other alloys). Especially, the amount
of gypsum used in manufacturing decreased by 17% in 2015 as a result of the “Replacing low flash tubes with
high ones project” initiative (for more details, please find at “Outstanding energy-and-material-saving initiatives
in 2015”section).
CREATIVE AND EFFECTIVE ENERGY-SAVING SOLUTIONS
ENERGY SAVED THROUGH EFFECTIVE ENERGY-SAVING INITIATIVES
TOTAL ENERGY CONSUMED IN 2015
PNJ uses some key energy sources such as electricity,
gas and oil in our production and business activities.
In 2015, even though there were 48 retail stores
newly opened across the country and boosted
production (main material such as Gold increased
by 15% comparing to the same period), the amount
ELECTRICITY SAVED
(Unit: kWh)
OIL SAVED
(Unit: kg)
GAS SAVED
(Unit: kg)
COST SAVINGS
(Unit: VND million)
of electricity consumed by the companyincreased
slightly (5%), while both gas and oil decreased in
consumption. This demonstrates the effectiveness of
the company in developing and implementing energysaving initiatives internally.
Appropriate usage of energy sources not only helps PNJ to reduce management costs andcontribute to
increased profits but also promote the habit of efficient and economical energy usage of our employees. In
2015, PNJ has successfully cut approximately VND 3 billion operational costs from energy savingsin dayto-day operation of the company.
ENERGY SAVED THROUGH EFFECTIVE ENERGY-SAVING INITIATIVES
WATER – CORE FACTOR OF SUSTAINABLE DEVELOPMENT
OUTSTANDING ENERGY-AND-MATERIAL-SAVING INITIATIVES IN 2015
“Vietnam is a country that has average level of natural
water resources, yet inherently has unsustainable
elements: Total volume of surface water of Vietnam is
about 830 - 840 billion m3, out of which 63% flows
in from the outside of the country. Due to growth in
population, urbanization and industrialization, the
demand for water rises rapidly, currently has exceeded
50% of the water produced on the territory of our
In 2015, PNJ continued to accelerate the implementation ofenergy-and-material-saving initiatives internally.
Details of some prominent initiatives are presented in the table below.
WATER USED - BOUGHT WATER
(Unit: m3)
The only source of water used at PNJ’s manufacturing
sites, offices and all units across our system is bought
water from water supply companies. However, since
2013, the amount of water bought has been decreasing
constantly, from 10,272 m3 in 2013 to just 7,251 m3
in 2015. This is the result of the water-saving and
country. This rate is almost 90% in dry seasons.” (The
Department of Water Resources Management, 2016).
At PNJ, we understand and appreciate the value of
water resources. In addition to water-saving initiatives,
PNJ also launched solutions to reuse water in a safe
and efficient way.
WATER RECYCLED / REUSED
water-recycling/reusing initiatives, which have been
promoted strongly over recent years by PNJ. As of
2015, the total amount of water recycled/reused was
75% of the amount of newly bought water, and was
42.9% of the total amount of water used by the whole
company.
ENVIRONMENT PROTECTION - BEYOND COMPLIANCEPURPOSES
ENVIRONMENTAL LAW COMPLIANCE
Running one of the biggest jewelry manufacturing
factories in Asia, PNJ acknowledges that operating this
system not only uses acertain amount of resources but
also creates certain amount of waste. Thus, in addition
to laws compliance, PNJ understands the importance of
environment protection and always strives to become
the leading corporate in environment protection for a
better life.
PROGRAM THANKS
FOR NOT LITTERING
Besides the continuous development of business
production and the contribution in social policies, PNJ
also pays lots of attention into environmental protection
activities. At the end of 2015, PNJ collaborated with
the Ly Son District Union to initiate a program to
protect the environment with the message “Thank you
for not littering” at the North sea of Ly Son, Quang
Ngai. In the first initiation, PNJ planted 100 square
tropical-almond trees along the coastline to
prevent heavy winds, erosion, and avalanche during
rain seasons. PNJ also collaborated with the students
and soldiers to collect and clean waste in the North
Sea of Ly Son and put 15 240-liter-trash-can along the
coastline and tourist areas to encourage local residents
and tourists to protect the environment in Ly Son.
Following the success of the first initiation in Ly Son,
PNJ aims to put 2016 as a special year for environment
protection, and continue to implement the program
nation-wide. The program is expected to attract
attention and interest of the community, and have a
positive response from companies and organizations,
and especially from the youngsters. Besides, PNJ also
hopes that these practical and significant activities of
the company in recent time can help contribute to
make a more profound impact onto the consciousness
of the community totogether protect and improve our
living environment.
SOME ENVIRONMENTAL PROGRAMS THAT PNJ ORGANIZED IN 2015
• Collaborate with Ly Son District Union to organize “Thanks for not littering” program and
clean the coastline, donate 15 trash cans, and plant 100 square tropical-almond trees along
the beach
•Collaborate with Phu Nhuan District Unionto clean 1 kilometer of railway and paint 1
kilometer of fences
•Collaborate with Military Information College of Nha Trang students to clean waste and raise
public awareness about protecting sea environment in Nha Trang
•Raise public awareness for residents and tourists in Phu My Hung (District 7) about putting
waste in proper places
MOVING TOWARDS A SUSTAINABLE SOCIETY
PNJ CULTURAL FESTIVAL – DIFFERENT SHADES YET ONE SPIRIT
PNJ cultural festival is the essence of the culture, spirit and strength of PNJ. It is an event, a festive season that
the members of PNJ family always look forward to each year. PNJ’s character is clearly expressed in each “PNJ
warrior” through every activity, competition, performances, the yellow color in the traditional uniform… It is the
will to conquer common objectives, the unity spirit, and the love for colleagues and company.
“COMMON HOUSE” – THE IDENTITY OF PNJ’S CULTURAL
Throughout 27 years of development, PNJ has built and
developed ourselves a unique cultural identity: the “PNJ
Common house” culture.
Inheriting the essence of the company’s core values,
the “Common house” culture is a solid foundation that
contributes to the strength, spirit and values of the PNJ
family. At PNJ, every employee is a member of the
united PNJ family, and always live and work hard for
the common goals of the business. The effort of each
member is rewarded not only by material compensation,
spiritual encouragement, and theallocation to a deserved
position but above all, it is the recognition of them as
examples for the whole team and next generations to
follow and learn.
The “Common house” culture is fostered and clearly
expressed through the activities towards employees,
which are held regularly, in order to meet the needs
of health care, the improvement of both material and
spiritual life for employees as well as building pride and
cohesion among members: team building conferences,
thematic meetings, youth forums, cultural festivals,
sports competition, PNJ family festival, health care clubs
at the firm, … PNJ culture always educates employees
to live and work with a sense of responsibility to
themselves, to the society and to the community. PNJ
is like a school where people are treated not only with
material values but also with respect and love.
It can be affirmed that the success of PNJ today has a
critical contribution of the “Common house” culture. It
creates not only a competitive strength, advantage in
attracting and connecting talents and build a skilled
workforce but also acts as a strong foundation and hope
for the sustainable development of the business along
its way with many challenges ahead.
PRODUCT RESPONSIBILITY
ALWAYS PROUD OF OUR PRODUCT QUALITY
Customers who have used PNJ-branded jewelry always
appreciate the reliability of the gold age, gem quality and
the delicate design in each product. All PNJ’s jewelry
products are clearly labeled with gold content, gold
age, warranty or repurchase conditions. Particularly,
gemstones are always accompanied by a PNJ Testing
company’s certification, which is globally recognized
representatives from jewelry businesses, journalists
and representatives of consumers, etc. The workshop
has provided valuable knowledge so that consumers
can differentiate artificial diamonds with synthetic
stones, thus protecting their rights while enhancing
Vietnam jewelry market transparency and creating
competitive market for enterprises.
THE LEADING WINGS OF THE VIETNAM JEWELRY
INDUSTRY
Secondly, PNJ also participated in organizing
conferences on gold age quality by the Directorate
for Standards, Metrology and Quality in Hanoi, Can
Tho and Ho Chi Minh City after Circular 22 on the
same topic was implemented. At the conferences,
PNJ’s experts were invited to present papers about
jewelry quality management and images of quality
management at PNJ Jewelry Enterprise.
As a reputable brand in the market, PNJ pioneers in
organizing conferences and activities to bring good
values to the community.
These include specialized workshops organized by a
collaboration between the Ho Chi Minh CityJewelry
Association and PNJ, to universalize knowledge
about jewelries and gemstones to customers: One
stand-out example is the workshop on Differentiating
between artificial diamonds and synthetic stones,
attracting a great turnout from experts in the field
of jewelry, instructors of gemology at the Ho Chi
Minh City University of Science, the Department of
Industry and Trade, Vietnam Competition Authority,
In addition, PNJ regularly releases articles on its official
channels. These articles aim to provide customers with
the necessary knowledge about different types of gold
and silver jewelry, and precious stones and to give
advice on buying them, especially diamonds, thus
allowing customers to get access to official information
for reference and avoidlosses or unnecessary risks.
LICENSED BY THE GOVERNMENT TO TEST GOLD JEWELRY
Circular 22/2013/TT-BKHCN on jewelry gold age
quality management in the market is considered to
be the foundation for branded items, including those
of PNJ, where ambiguity in gold and gold content
testing methods from retailers is robbing consumers.
Accordingly, from 01/06/2014, enterprises and
jewelry retailers which sell under-aged gold or do not
disclose gold content and gold weight, will be severely
penalized. Brands that wish to establish and upkeep
its name must keep the promise about gold age to
consumers.
Even before the implementation of Circular 22,
PNJ’s gold jewelries must undergo a strict quality
management process before reaching consumers.
Thanks to the transparency and credibility of each
product, PNJ is honored to be the third entity to be
licensed by the Directorate for Standards, Metrology
and Quality (Ministry of Science and Technology) to
validate the content of gold nationwide starting from
February 2015. Accordingly, the results from PNJ’s
determination is considered to be the basis to resolve
any dispute on gold age in the market.
PNJ believes that with its credibility and new
responsibility, it will contribute to open a new era for
trustworthy and professional gold jewelry businesses
in particular and for the gold industry in general, thus
adapting to the high demand from customers.
DEVELOPMENT OF A GOLDEN-QUALITY LABOR FORCE
DIVERSITY AND EQUALITY
In 2015, PNJ employs over 3,200 workers of different
age, gender, ethnicity, religion, and expertise.
PNJ encourages diversity and equality in our working
culture and there is no discrimination of gender, ethnicity
or religion. All of our labor policies aim at developing
the “PNJ Common House”, contributing to the creation
of a friendly working environment where employees take
care of each other and discrimination between managers
and employees are erased.
FOCUS ON GENDER EQUALITY
The company highly appreciates gender equality,
especially for female employees. At PNJ, we prioritize
raising awareness of the role of females, both in the family
and in the society. All PNJ employees have the same
opportunities to utilize their potentials and contribute to
the success of the whole organization.
“ Our
highest goal is to
appreciate the true value
coming from women’s inner
beauty. This is not the work of
an individual or organization,
but of the whole community. It is
an important part of the process
to build a civilized, modern,
and equal society, contributing
to increasing the awareness of
Vietnamese women’s roles in
the family and society.
”
Ms. Cao Thi Ngoc Dung
PNJ Chairwoman and CEO
PROTECTING EMPLOYEES’ RIGHTS
PNJ always complies with regulations of the Law in general and the Labor Code in particular in managing our
labor force.
PNJ GUARANTEES:
• All of our employees have labor contracts and receive
full benefits protected by regulations of the Law.
• We do not employ under-aged or unqualified labor
that do not satisfy the requirements of the Law.
• All labor contracts are prepared on voluntary basis.
IDEAL WORKING PLACE FOR EMPLOYEES
IN THE INTEGRATION CONTEXT, INVESTMENT IN HUMAN RESOURCES IS THE RIGHT DECISION
PNJ always aims at building, developing, and maintaining a healthy, safe, and ideal working environment for our
employees. In 2015, PNJ received several prestigious awards, both individually and organizationally, from many
reputable organizations within and outside of Vietnam, including:
Human is the element that makes up the organization and decides success or failure of any organizations.
Understand the benefits that a golden human resource might bring, PNJ always prioritizes investment in human
resources of the company.
I
nvestment in people
is to enhance the
value
in
spiritual,
moral,
intelectual,
skills and phisique
of those people, making them become
employees who possess necessary skills
and personalities to meet increasing
requirements for developing the economy
and society.
“EMPLOYER OF THE YEAR” - JNA AWARDS 2015
2015 from JNA (Jewelry News Asia) Magazine (09/2015)
I
nvestments for human resources development
bring high economic efficiency and save
exploitation and usage of other resources.
TOP
100 best working places in Vietnam 2014
I
nvestments for human resource development bring faster
and more stable economic growth. On the other hand, the
efficiency of investment in human has an even spread and
brings equal development opportunities as well as equal
enjoyment of development benefits.
from the managerial career network Anphabe.com cooperating with
the market research company Nielsen (03/2015)
I
nvestment in human is to meet renovation requirements for enterprises.
Human boosts productivity, saves costs for economic growth. It generates
higher profits and creates investment opportunities for enterprises. It helps
connect local and foreign businesses and those connections build a strong
community.
PNJ Human Resources Director - Nguyen Thi Ngoc Minh - was
awarded Human Resources Director of the Year 2015
from the consulting firm Towers Watson Vietnam (03/2015)
H
uman resources training is to meet diverse, multilayer requirements of technology and
the development level of areas and industries. Human resources for industrialization,
modernization require a sufficient number of the same level in structure and qualifications,
able to understand and utilize scientific achievements and advanced technologies of the
world and able to innovate new technologies.
LABOR HEALTHCARE
INVESTMENTS IN LABOR FORCE TRAINING
In 2015, PNJ continued to embrace activities to support and ensure the health of employees.
F
Annual health check
for employees
or the sake of ten years, we must plant trees; for the sake of a hundred years, we
should cultivate people.
President Ho Chi Minh
Once a year
HEALTH INSURANCE EXPENSE
(Unit: billion VND)
W
Labor safety
equipment expenses
500
435
400
300
246
258
186
VND
119
100
VND
2013
2014
• Medical insurance: for all employees
• Health insurance: for managers
• Accident insurance: for all employees
PERIODICAL HEALTH CHECK
• Male employees: once a year
• Female employees: once a year
OTHER PROGRAMS, POLICIES, AND COMMITMENTS
• Commit to comply with regulations about labor safety,
firefighting and prevention, and safety of working
environment
• Maintain an average working space of 12m2/person
• Maintain clean working conditions and install air
conditioning systems in all manufacturing plants to
ensure fresh atmosphere for workers
Billion
2015
HEALTH INSURANCE PROGRAMS
Ms. Cao Thi Ngoc Dung, PNJ Chairwoman and CEO
Billion
Healthcare activity expenses
200
hat is PNJ’s greatest property?Not the money, but our corporate culture, our
people.
• Build modern toilet systems, ensure and maintain
100% clean condition
• Build many independent smoking rooms to create
a clean environment and reduce the workforce’s
smoking habit
Due to the increasingly fierce competition, companies
that want to survive and develop are forced to restructure
towards lean organization, in which human resource
is a decisive factor. Thus, hiring the right people,
assigning the right jobs and training appropriately will
help improve quality of job performance and enhance
efficiency of the company.
training staffs to support those staffs fulfill their jobs
at current positions and for those who have potential
and help them be well-prepared to grow up to higher
positions.
2015 is the year that PNJ continued to invest heavily
in training our employees. The company focuses on
• On-site training and development programs
PNJ training programs consist of:
• Orientation training programs
• Off-site training and development programs
PNJ’S TRAINING MODEL
• Have 10 modern restrooms with 100% clean
conditions and 4 separate smoking rooms to maintain
fresh air and reduce smoking among employees
• Have a healthcare system for employees who have
urgent illness and fatigue while working; enforce
daily 30-minute-break for pregnant employees
• Hire cleaning company quarterly to clean buildings,
especially high areas and areas with glasses
• Compensation (bonuses and foods) for employees
working in or involved toxic operations
HƯỚNG TỚI MỘT XÃ HỘI BỀN VỮNG
The statistics above indicate that, in 2015, PNJ’s training
activities continued to be implemented closely to the
original plan and budget. In 2015, PNJ especially invested
a great deal in talent training and development, spending
over VND 2 billion on training activities.
PNJ’S TRAINING STATISTICS
TRAINING BUDGET AND EXPENSE
(Unit: VND million)
Total number of training courses increased consistently
over the past 3 years. Especially, the number of employees
in the management level participating in training courses
raises from 546 in 2013 to 1,747 in 2015, achieving a
growth rate of 220%. This rate indicates our determination
to enhance knowledge and soft skills for our managers
and thus improve the quality of our management team
as a whole.
Besides, PNJ has also prepared and planned to attract
foreign labor force for several high-level positions since
2012. The modern management system and competitive
remuneration policy based on market survey,
whichhave been developed and finalizedwill boost the
company’sconfidence in attracting foreign labor. PNJ
has also built training strategies to enhance soft skills and
language proficiency for employees (senior level and
above) to overcome language barrier.
COMMITMENT TO COMMUNITY DEVELOPMENT
We need enterprises to recognize their social responsibilities. This
means that the main responsibility of an enterprise is not to increase
profitability, to become wealthy, or to send as much money abroad as
possible, but to realize and evaluate what it has done for the nation, for
the community - who have brought wealth to that enterprise
President of Russia, Vladimir Putin
PNJ CHARITABLE FOUNDATION
A JOURNEY OF LOVE
On 27/04/2015, PNJ celebrated the ten-yearanniversary of the PNJ Charitable Foundation. Founded
in 2005, after 10 years, the PNJ Charitable Foundation
has donated over VND 25 billion for projects aiming
at improving the living standards of Vietnamese
people and needy patients, as well as developing the
potentials of Vietnamese students.
PNJ is one of the few businesses in Vietnam having
a Charitable Foundation that organizes activities
professionally and owns a distinctive brand identity.
Throughout its time of operation, PNJ Charitable
Foundation has organized many meaningful charity
and voluntary activities such as giving out gifts and
free medical treatment to poor people in the country;
emergency relief for households in flood and natural
disaster zones; awarding scholarships to students…
These volunteer activities take place throughout with
participation of many PNJ employees and have become
a PNJ traditional culture, showing the solidarity and
commitment-to-community-development spirit of the
company.
In particular, the spirit and the sense of community
responsibility of all PNJ employees are expressed deeply
through the fact that each employee volunteers to
contribute 01 day salary every quarter to PNJ Charitable
Foundation in order to raise fund for volunteer activities.
Throughout 2015, this support has contributed nearly
VND 2.7 billion to PNJ Charity Foundation. Besides, PNJ
Charitable Foundation also has a contribution source
from the company's Board of Directors operational fund
and other soliciting charitable donations are organized
regularly at the company.
... people have the right to express love and we need to increase our support
for the poor so that their lives can be improved ...
U.S. President, Barrack Obama
SHARING A LOVING TET WITH PNJ
FOR A GOLDEN FUTURE OF VIETNAMESE YOUTH
The program "Sharing a loving Tet with PNJ" is an annual activity of PNJ Charitable Foundation. With thousands
of Tet gifts given out each year, PNJ aims to motivate, share and contribute to bring happiness to poor people,
children with disability in many regions throughout the country on Tet holiday occasion.
PNJ ALWAYS PRIORITIZES THE FUTURE OF VIETNAMESE YOUTH
In 2015, PNJ has donated over VND 500 million to scholarship funds and thus, provided financial aids for
dozens of pupils and students, including children living in difficulties, needy children who has overcome their
conditions, students in rural areas, creative students…
For every trip, we always spend time finding the most valuable gifts for the people.
Hopefully the economy is stable, our country develops, poverty is erased and the
people have better living standards…
Ms. Cao Thi Ngoc Dung, PNJ Chairwoman and CEO
"RED BRICK" PROGRAM
THE PNJ HOUSE
At the company’s 10th anniversary ceremony, PNJ
Charitable Foundation started the project “Red Brick”
in order to cultivate the program “PNJ House”. With
the message of “Collecting a million red bricks to build
the warm shelters”, the PNJ Charitable Foundation has
received positive responses from the community to
build hundreds of houses for families who are living in
difficulties and homeless conditions across Vietnam.
In order for the Red Brick project to reach as many
employees as possible, the “PNJ House” models are
put at each unit and department of the company with
the message “Each 1,000 VND you donate is a brick to
build hundreds of warm shelters to disadvantage people
across the country. Thank you for sharing”.
Being launched at the end of 2015, “The PNJ House”
is a program in which we build houses for the needy
all across the country. On average, 50 houses are built
annually, each valuing at VND 45 million. Within the
last 4 months of 2015, there were 25 houses and 1
kindergarten built and given out under the “The PNJ
House” program.
The PNJ Houses were gifted to those who seemingly
have lost all the chances to “to live and work in peace
and contentment”, just like a miracle journey of a real
life fairytale.
The PNJ House journey will continue in 2016 with at
least 50 houses built for disadvantaged families in all
areas of the country.
After a year of spreading out the donation program, the
PNJ Charitable Foundation has received enthusiastic
support from partners, customers, sponsors, especially
from PNJ employees towards this meaningful activity.
Up until now, the number of red bricks donated is
1,130,976, equals to 1,130,976,500 VND.
1. Comparison checklist with the Circular 155’s standards
2. Comparison checklist with GRI - G4 standards
COMPARISON CHECKLIST WITH THE CIRCULAR 155’S STANDARDS
COMPARISON CHECKLIST WITH GRI - G4 STANDARDS
Save paper
Save trees
Save the world
PHU NHUAN JEWELRY JOINT STOCK COMPANY
170E Phan Dang Luu St., Ward 3, Phu Nhuan District, HCM City
www.pnj.com.vn

PNJ SUSTAINABLE DEVELOPMENT REPORT 2015

Transcription

Similar documents

100% Pure Natural Jojoba Esters

Holiday Bazaar - Wayzata Schools

Robert Been - Chiricahua Gallery

Celebrity Guests

Jewelry Razzle-Dazzle

`Twas the week before Christmas, and all through the city, the Santa

after-care - CATIE library

TO BEDAZZLER - Jewelry by Fran Green

yobel scm

2016 Winter Art SAlon