Human Resources Management

Goal and Performance Highlights

Performance 2025

Total of Employees (Including Executives)

persons *

persons

hours/person/year

hours/year

local entrepreneurs

Human Capital Return on Investment (HCROI)

times

Remark:

* Total employees include both permanent and contract staff.

** The results of the employees’ engagement survey in 2025, conducted every two years

Commitment, Challenge and Opportunity

The Company is committed to managing and developing employee potential in line with corporate governance and ethical principles, guided by the core value of “Be different, be noble.” The Company promotes equality, non-discrimination, and respect for human rights in accordance with laws and international principles. In addition, the Company conducts the Noble Caring Survey every two years to gather employee feedback and improve the workplace environment, fostering engagement and pride in the organization.

However, human capital development continues to face challenges arising from economic and technological changes, workforce diversity, and varying employee expectations. To address these challenges, the Company emphasizes comprehensive human resource management, the development of new skills, and the cultivation of a transparent corporate culture. The Company is also committed to ensuring ongoing employee welfare and workplace safety.

On the other hand, creating positive employee experiences and fostering engagement provide opportunities to enhance work efficiency, build loyalty and trust, and promote fair employment practices and respect for diversity. These efforts are aligned with the United Nations Sustainable Development Goals (SDGs), particularly SDG 3: Good Health and Well-Being, SDG 4: Quality Education, SDG 5: Gender Equality, and SDG 8: Decent Work and Economic Growth.

Management and Operational Approach

Social Policy & Guidelines

The company has established the policy and guidelines to ensure social sustainability as follows:

Place important and realize the roles and responsibilities to the society, conduct business with the aim of creating positive impacts on all stakeholders to be part of creating sustainable society.
Pay attention and give importance to safety for communities, society, the environment and quality of life of stakeholders involved in the project’s operations and support employees to have awareness and responsibility to the environment and society.
Operate the business under the concept that respects human rights is important to the corporate sustainability by complying with the Company’s human rights policy which conforms to the human rights principles indicated in the international laws and standards such as Universal Declaration of Human Rights (UDHR), The International Labor Organization (ILO) Declaration on Fundamental Principles and Rights at Work, United Nations Guiding Principles on Business and Human Rights (UNGP).
Support and care for all employees equitably as our own family, we listen to their voice and ideas. We empower them to be both outstanding team leaders and strongest team player. They will be incentivized as they are also the Company’s owners, as well as regularly promoting, supporting, and raising awareness of responsibility to community and society.
Strive for operating business with integrity without exploiting or causing damage to society, arrange channels for the stakeholders and relevant people to propose ideas or opinions about the Company’s business operations and file complaints in case of unfair treatment because of the Company via the topic of whistleblowing channels
Apply social risk management and social crisis management in all business processes to reduce impacts on stakeholders, communities, and the environment along with specifying guidelines for managing and reducing potential impacts.

Human Resource Management

The Company values individuality, embracing the core belief of “be different be noble” We believe that diversity strengthens our team and drives collective growth and long-term success.

In addition, the Company upholds high standards of ethics and corporate governance in all aspects of human resource management from recruitment and hiring to compensation, performance evaluation, employee development, and career advancement under the following policies.

Ensuring fair treatment of all employees, with no discrimination based on race, nationalities, religion, gender, language, skin color, sexual orientation, social status, disability, political opinion, group affiliation, or any other factor unrelated to job performance.
Ensuring fair treatment of all employees, with no discrimination based on race, religion, gender, language, skin color, sexual orientation, social status, disability, political opinion, group affiliation, or any other factor unrelated to job performance.
Prohibiting illegal labor practices, including forced labor and child labor.
Ensuring fair and equal employment opportunities, with a strong commitment to non-discriminatory hiring and employment practices.
Promoting diversity and inclusion by supporting employment opportunities for underrepresented groups, such as people with disabilities, and offering internships for students to develop their careers.
Managing compensation and benefits competitively and legally, with a focus on fairness and merit-based advancement aligned with employees’ knowledge, skills, and performance.
Complying with labor laws, including clearly defined employment conditions, working hours, rest periods, leave policies, disciplinary procedures, and ensuring all employees especially new hires are properly informed through regular training and updates.
Prioritizing human capital development, based on the belief that “every employee is a valuable asset.
Fostering a people-centric culture, where employees are treated as part of the Company family. Management actively listens to employee feedback to improve the organization and create an environment of collaboration and constructive dialogue, while protecting employees’ rights and interests.
Promoting work-life balance and overall well-being, through initiatives and activities that support employees in caring for themselves and their families beyond work obligations.

Policy & Guidelines of Employee Remuneration, Welfare, and Provident Fund

The Company is committed to providing fair and competitive compensation to all employees, regardless of gender, race, or religion, based solely on individual performance. Employee compensation is regularly benchmarked against both the national market across industries and specifically the real estate development sector. The Company maintains a policy of annual salary adjustments and bonus payments based on employee capabilities and performance.

Performance management is standardized across the organization through three key evaluation criteria: work achievement, competency, and attitude. After each evaluation cycle, performance results are directly communicated to employees through coaching and feedback sessions to promote continuous development.

Employee compensation at the Company consists of salaries, overtime pay, cost-of-living allowances, bonuses, provident fund contributions, and other employee benefits, totaling THB 465,823,614. The proportion of compensation paid to female and male employees was 60:40, respectively. In addition, the Company's subsidiaries provided employee compensation of a similar nature totaling THB 99,378,089.

The Company places great importance on employee well-being and has established a Welfare Committee to provide recommendations on employee welfare programs and activities aimed at promoting, protecting, and maintaining employees’ health and quality of life. All employees are entitled to equal access to standard benefits and welfare programs without discrimination. The Company’s employee welfare and benefit programs can be categorized into the following three groups:

Health and Life Protection Benefits The Company provides comprehensive health, and life protection benefits to support employees’ well-being and quality of life. These include social security, workers’ compensation coverage, health insurance, accident insurance, life insurance, annual health check-ups, and influenza vaccinations. Employees are also covered by enhanced life insurance benefits, including coverage of up to two times the insured amount in the event of death resulting from public disasters.
In 2025, the Company continued to implement the “Noble Caring” program to promote employees’ physical and mental well-being through a range of initiatives. These included therapeutic massage services provided by visually impaired therapists to help prevent office syndrome, Office Yoga Reset sessions, the Noble City Run, and the Noble Fit for Life running challenge, which encouraged employees to engage in regular physical activity and adopt healthier lifestyles.

In addition, the Company organized mental health awareness and education programs led by specialists to strengthen employees’ stress management skills. Employee surveys were also conducted to assess the psychological impacts of the earthquake situation, enabling the Company to provide appropriate support and assistance where needed.
Retirement Benefits To support employees’ long-term financial security and retirement planning, the Company provides a provident fund program for eligible employees.
Financial and Housing Assistance Benefits The Company offers a range of financial and housing assistance programs, including employee welfare loans, vehicle purchase loans, emergency medical loans, and special discounts on residential properties developed by the Company.

Promoting Employees’ Long-Term Financial Security

The Company provides a provident fund program to support employees’ long-term financial well-being and quality of life. The program is designed to encourage regular savings, strengthen financial security after retirement, and help employees prepare for future financial uncertainties. Employees who participate in the provident fund are entitled to Company contributions, investment returns based on their selected investment policy, and accumulated retirement savings. In addition, the Company provides access to financial planning and investment information to support employees in managing their personal finances effectively and building long-term financial resilience.

The Company determines employee contribution rates and Company matching contribution rates based on employees’ years of service, as detailed below.

Years of Service (from Employment Date)	Employee Contribution Rate	Company Contribution Rate
Less than 2 years	2-15%	3%
2 to less than 4 years	2-15%	5%
4 years and above	2-15%	7%

Promoting Employees’ Long-Term Financial Security

Detail	Unit	2023	2024	2025
Number of Employees Eligible for the Provident Fund	Person	696	859	583
Number of Employees Participating in the Provident Fund	Person	377	399	391
Provident Fund Participation Rate (% of Total Workforce)	%	54.17	46.94	41.91
Provident Fund Participation Rate (% of Eligible Employees)	%	54.17	46.94	67.07
Total Employer Contributions to the Provident Fund (THB)	THB	18,717,721.46	20,950,136.00	18,707,656.37

The Company encourages its Provident Fund Committee to select fund managers that adhere to the Investment Governance Code (I Code) and demonstrate responsible investment practices by integrating Environmental, Social, and Governance (ESG) considerations into their investment management processes.

The Provident Fund Committee also considers fund managers’ commitment to investment stewardship, governance practices, and transparency in disclosing their fund management selection criteria to fund members. This approach supports prudent investment management and aims to safeguard the long-term interests of the Company’s provident fund members.

In 2025, the Company’s Provident Fund Committee reviewed the performance of the provident fund management company and approved the continued appointment of the Eastspring M Choice Provident Fund (Registered Fund) – Noble Development Public Company Limited Sub-Fund as the provident fund manager.

The Company regularly promotes financial planning and investment literacy among employees to support informed decision-making on savings and investments that align with their individual financial goals, while strengthening their long-term financial well-being and resilience.

To enhance employees’ financial knowledge and capabilities, the Company organizes educational programs and training sessions on financial planning, savings, investment management, and retirement preparation. These programs are delivered by qualified external speakers and financial experts to ensure that employees receive accurate, up-to-date, and practical knowledge that can be applied to their personal financial planning.

Participation in these programs is voluntary and open to all employees, regardless of whether they are members of the provident fund. This approach aims to promote broad-based financial literacy and encourage responsible financial management across the workforce.

In 2025, the Company organized three financial planning and investment education sessions for employees, with support from external experts who shared their knowledge and practical experience. These initiatives help strengthen financial discipline, improve financial literacy, and support employees in building long-term financial security.

The retirement age has been established at 60 years by the Company. When employees are due to retire, the Human Resources Group will inform them of the advantages they will receive upon retirement, such as provident funds and Labor Law for Retirees Compensation to help them plan for their post-retirement life.

The Company is committed to promoting equal opportunities and improving the quality of life of people with disabilities by supporting their ability to live independently and contribute meaningfully to society. In 2025, the Company partnered with the Foundation for the Education and Development of the Blind to implement a therapeutic massage program delivered by visually impaired therapists for employees. The initiative aimed to promote employment opportunities and career development for people with visual impairments while providing employees with professional therapeutic massage services to help relieve physical fatigue and prevent office syndrome.

Through this program, the Company created employment opportunities for six visually impaired individuals, contributing to their economic well-being and quality of life. The initiative also supports the development of an inclusive society that promotes equal opportunities, diversity, and sustainable coexistence for all.