The founding of Avnet and its entrance into the Asia market.Founded in 1921, Avnet is a FORTUNE 500 company headquartered in Phoenix, Arizona. Its 14,600 global employees serve more than 2.1 million customers and 1,400+ suppliers in over 125 countries.
Avnet Asia Pte Ltd entered Asia in 1995 and Singapore is the regional headquarter. Asia-wide, we have over 3,300 employees in 56 offices, 7 design centers, 6 logistics centers and 1 Programming Center.
Today, Avnet Asia’s annual billings is more than USD8B up from over USD2B in 2006 and accounts for 40% of the global sales, notwithstanding a difficult marketplace we operate in.
Employer BrandingAvnet strives to be an “Employer of Choice” in the electronics distribution industry. We have established recognition for sustainable HR practices and schemes from reputable external partners such as learning institutes and governmental organizations.
In Singapore, this success is affirmed by the numerous awards and accolades that we have received such as being recognised as one of Asia’s top ranking employers in 2020 (by HRD’s annual Employer of Choice awards) as well as one of the “Best Companies to Work For in Asia” in 2018. Other achievements include “Leading HR Practises in Compensation & Rewards Management”, “Leading HR Practises in Performance Management (special mention) and “Excellence in C&B Strategy” (Bronze) in 2016.
As a responsible corporate citizen, we regularly extend internship opportunities to tertiary institutions such as Nanyang Technological University and Singapore Polytechnic. In 2021/22, we have offered 9 such openings to these students.
Avnet also focuses on community building and uplifting the well-being of the less privileged in Singapore. We have participated in a cook-out program with Willing Hearts (a non-profit organisation for 3 years). And in March 2021, Avnet collaborated with Singapore Cancer Society in the virtual 100km challenge to raise funds.
As a company, we work towards ensuring an engaged and inclusive culture to drive innovation and performance. This includes creating an attractive work environment for the different generations, ethnic groups as well as our female workforce.
Workplace Policies and PracticesAvnet practices fair employment, diversity in our hiring as well as flexi work arrangement. We have pivoted to a more hybrid work environment such as telecommuting and flexi work hours.
Avnet has been voted as one of the most ethical companies for the past 7 years from 2014 to 2020 (a whistle-blower policy and an ethics alert hotline have been in put in place).
In addition, a comprehensive Health and Safety policy, which includes an annual workplace risk assessment, has been put in place.
Employee BenefitsAvnet has an extensive spectrum of employee benefits ranging from leave entitlements, Employee Assistance Program (EAP) to medical, dental and insurance coverage for employees and their immediate family members.
In May 2021, Avnet launched Thrive@Avnet, a combined resource for wellness benefits where all global and regional programs, tools and initiatives are categorised into four core components: Mind + Body, Career, Money, Connection. Also, a “Thank You” program has been initiated to recognize our employees for their contributions and for going the extra mile outside their normal scope of work. This peer-to-peer recognition program allows employees to communicate their appreciation of one another in an easy to use digital tool.
A “spot bonus” program too has been introduced for our leaders to recognize employees who have made significant contributions to the business, their team, an important project, and/or a customer.
To recognize employees for their commitment, dedication and service excellence, they are awarded with a monetary award for their service milestone achievements in their career.
Employee Engagement & DevelopmentRecently in the last quarter, Avnet has conducted an annual engagement survey (administered by Willis Towers Watson) to give all employees an opportunity to provide open and honest feedback on a variety of topics, providing leadership the information needed to implement meaningful change. We achieved an engagement score of 94.7% for our region (a good engagement score is anything above 73.3% which is the threshold of the top third) with clear strengths in people & teamwork and enablement.
Avnet’s goal in performance management is to promote employee engagement, individual performance and personal career growth. This includes an annual performance review in Workday, quarterly check-ins and ongoing performance discussions that include goal setting, feedback, coaching and development.
In the area of employee development, our annual training plan includes Workforce Skills Qualifications (WSQ) programs and a multi-tier approach to leadership development, which caters to individual contributors, people managers and middle managers. We also develop our in-house capability through certifying our business and functional leaders as trainers for both leadership and business programs such as DDI facilitator certification process as well as negotiation skills workshop. We seek to enable employees to progress in their career in Avnet through a robust talent development program.
For our digital HR transformation journey, we ensure consistent, robust data and analytics that provides insights on our workforce and helps guides our investment in people. We offer a HR system (HRIS) that allows employees to manage their career data and enhance their overall experience at Avnet.