Annual Report 2021

076 Principal Risks Annual Report 2021 Miramar Hotel and Investment Company, Limited 3. Human Resources Most of the Group’s core businesses are in the people-intensive service industry, in which retention of key and skillful staff is always a challenge to our effort to maintain high quality standard. The Group keeps pace with labour market trends to ensure our employment terms are reasonable and competitive. In addition, staff vocational skills development is continuously supported through our education allowance scheme and training programme. Besides, providing and maintaining a safe and healthy working environment to our staff is our top priority, especially during times of pandemic. During the year, we have rolled out the “Vaccination Encouragement” programme, including holding vaccination seminars, granting of vaccination leaves and incentives, as to support our staff to protect themselves against COVID-19. Besides, we have continuously adopted a series of preventive measures, such as A/B alternative site and working-from-home arrangement, provision of adequate personal protective equipment, enhancing hygiene training, regular workplace sanitization, and social distancing measures in staff canteen. The Group closely monitors the latest development of the pandemic, and communicates openly and oftentimes with our staff regarding the latest information and their concerns, to ensure everyone is on the same page. 4. Legal and Compliance The Group is committed to complying with the relevant legal and regulatory requirements. Compliance costs are expected to go up due to the imposition of new standards and requirements by government and regulatory bodies. These arise from engagement of external consultants for advice and staff training, and for establishment/update of policies and procedures in response to the new requirements. The Group routinely seeks advice from regulatory bodies and external advisors on any upcoming new requirements to ensure compliance.