Value Creation

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Value Creation is the term that defines how the organisation of a business’ resources, both tangible and intangible create value for stakeholders in such a way that the outputs exceed the inputs. Value Creation goes beyond profit.  It is about fostering stronger customer relationships, driving innovation and interacting positively with communities and the environment.

In financial accounting terms we look at shareholder value by measuring the changes in “shareholder’s equity” and “profitability”.

Stakeholder value goes beyond this because it recognises assets such as brands, knowhow, reputation, the knowledge held by employees, corporate strategy and how these effect and translate into value for a broad range of stakeholders including customers, owners, employees, regulators, suppliers, financial backers, communities and the environment.

A comprehensive picture of Value Creation requires alignment between many factors including business practices, tangible and intangible assets, material financial and non-financial capital risks, the corporate strategy, its engagement with multiple stakeholders, sustainability and governance.

How have we at AX embraced key elements in our Value Creation process.

We recognise that value is created through our business model and the manner in which we manage and deploy our capital.   We define our capital in a broad sense.  It goes beyond our equity and includes.

  1. Our reputation
  2. Our property developments and their associated business models
  3. Our core values
  4. Our intellectual property
  5. Our brands
  6. Our employees
  7. Our commitment to sustainable practices
  8. Our commitment to the environment
  9. Our strong spirit of Innovation
  10. Our Financial performance

All of these factors are interdependent and result from a thinking organisation that values its relationships with all its stakeholders.

As a business we recognise that we have strong interactions within the communities where we operate.   We understand that commercial activity has an impact on these communities not just in the visual aspects of our developments but also in the functionality of these activities.

In doing so we have set “building communities” as a core principle and value for the Group.  Our concept of development goes beyond simply building nice properties.  We strive to optimise the relationship of those properties within their physical context,  giving importance to a broad range of factors, their impact on the surrounding properties, traffic and people movement within and around the development, preserving key elements such as natural light and vistas, serviceability of the property etc.

Our current development at Verdala has replaced the old hotel with three individual blocks.  Two of these blocks are designed for residential use and one will be a hotel.  The old Verdala hotel had 200 guest suites and was visually intrusive on the Rabat ridge.  In redesigning the new development we have lowered the building height, broken up the building mass into three elements rather than one very large block, extended the street scape in between the two most prominent blocks so as to create vistas from the road to the ridge which previously was blocked by the old hotel, factored into the development extensive parking to minimise parking and traffic congestion, created piazza to form a central open space within the property and designed a much smaller hotel that will materially reduce the traffic impact within the area.

Our Hilltop Gardens Retirement Village was developed on the site of the AX Group’s former construction yard out of which the Construction company operated for many years.  Following the redevelopment of the site, we created a tranquil residential development.  We built just 55% of the site in order to create the right environment for the residents of the Complex.  We incorporated open spaces to ensure good light, ventilation, vistas and used some of the area for gardens and recreational facilities.  The operating business model of the Retirement Village and Care Home focus on Community through social and cultural activities thus creating a thriving and secure community.

The AX Group’s business model is a customer centric approach.  We believe in delivering value to our customers, enhancing loyalty and customer satisfaction, building strong brands, embracing innovation and technology to deliver our products and services as well as to enhance efficiency and cost management.

The AX Group has long had a strong presence on the Malta Stock Exchange and this has created a culture of accountability and strong governance within the Group.

Our reputation within our communities is valued and is reflected in the manner in which shareholders take up our financing instruments whenever we approach the market.

We have developed over 40 brands many of which are recognised as market leaders.

As an employer we strive to be an “Employer of Choice”.   This with a view to attracting the best talent, creating a positive work culture, retaining knowledge within the businesses, working in the multi-cultural realities and the opportunities this brings, minimising employee turnover, and optimising productivity.

It is the management of all these elements and objectives that have created the positive and strong business that is today’s AX Group.

Celebrating International Girls in ICT Day

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AX Group’s Chief Technology Officer, Marthese Vella was invited as guest speaker during an event organised to celebrate International Girls in ICT Day.

The event, held on the 25 of April 2024 at Microsoft offices at SkyParks Business Centre in Luqa was organised by eSkills Malta Foundation, in collaboration with Microsoft Malta, the National School Support Services, and the Digital Literacy within SFCE and the Secretariat for Catholic Education. The event highlighted the importance of female leadership and participation in the Information and Communication Technology (ICT) sector.

Female leadership and participation in the ICT sector are important for several reasons, comments Ms. Vella. Firstly, diversity in leadership enriches perspectives and promotes innovation. By including women in leadership roles, companies can tap into a broader range of ideas and approaches, leading to more creative solutions to challenges.

Secondly, the ICT sector, like many others, benefits from a diverse workforce. Women bring unique skills and experiences to the table, which can help address the skills gap and enhance the overall competitiveness of the industry.

Marthese highlights that “female leadership and participation in the ICT sector serve as powerful role models for future generations. By seeing women in leadership positions, young girls are inspired to pursue careers in STEM fields, thereby contributing to a more inclusive and equitable workforce in the future.”

Women often bring a different perspective to technology design and development, leading to products and services that better meet the needs of diverse user groups. This can result in more inclusive technologies that serve a wider range of people she continues.

Overall, promoting female leadership and participation in the ICT sector is not only a matter of equality but also a strategic imperative for fostering innovation, driving economic growth, and building a more inclusive society.

 

   

Progression in the Workplace

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At AX Group, progression is more than a possibility—it is a supported journey. With tailored training, internal promotion opportunities, and a culture of continuous learning, we’re committed to helping our team members grow and succeed. We find this to be essential for both individual growth and organisational success; but don’t take our word for it, here are a few words from two of our employees at AX Hotels Qawra.  

Anmol Kohli, Front Office Agent at AX Sunny Coast Hotel

After completing his Bachelor’s degree in Hotel Management in India and gaining two years of experience at Burj Khalifa, one of the most renowned tourist attractions in Dubai, UAE, Anmol pursued his dream of working in Europe, joining the Security department of AX Hotels Qawra.  He later transitioned to his position as  a Front Office Agent, aligning better with his personal goals and interests. Anmol shares how the support received from his direct manager and HR was instrumental for his career progression and highlights how the interaction with diverse guests’ stories and challenges makes his role even more interesting and dynamic. “As a Front Office agent, I am responsible for managing inquiries, resolving issues promptly, and multitask efficiently. With the support given from my peers, together with the opportunities to enhance my communication and organisational skills, I successfully manage to navigate challenges and ensure a positive guest experience.”  

“Working hard is essential, but by seeking constructive feedback, embracing continuous learning and striving for growth, goals can be reached”, he positively asserts.  

Farhan Amin Jan – Housekeeping Supervisor at AX ODYCY Hotel 

Farhan Amin Jan, Senior Supervisor in the Housekeeping department at AX ODYCY Hotel in Qawra, has over 9 years of experience in managing hotel housekeeping operations. Known for his professionalism, vigor, and efficiency, Farhan is committed to contributing to his team, continuously learning, and enhancing his skills in guest service, customer relationship management, decision-making, and team building, to achieve new heights in his career. 

“In my first role as Room Attendant, I gained valuable experience, interacted with new people, and faced my first challenges in an unfamiliar environment, marking the beginning of my career growth journey.” Farhan shares. Through dedication, hard work with the right support from management and colleagues, he honed on his skills, observed new practices, and pursued opportunities for advancement. Within a year, his commitment and loyalty led to his promotion to a Team Leader which over time due to his consistent excellent performance and dedication provided a route to further promotions, eventually reaching the Senior Supervisory level across various chain properties.  

Farhan shares that “there are no secrets to success, it is the result of preparation, hard work and the will to learn from setbacks, turning them into opportunities for growth.  Network with other professionals. Be professional, patient, and persistent.” 

 

The AX Group’s ESG journey (this far)

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Businesses exist primarily for profit.  Other organisations may have different objectives and these include Government, Foundations, Charities and others.

There is no doubt that climate change is a reality.  We see it and experience it every day.  Longer summers, hotter summers, sudden unexpected downpours.  Nature is struggling to cope with this.  Trees and plants are not growing as healthily as we know they did in the past.     We can close our thoughts to these changes because we believe that there is little we can do individually and the prime responsibility surely must fall on Governments and large businesses.  Realistically we do know that each and every one of us have the responsibility to do whatever is within our ability to mitigate climate change.

At AX Group our ESG journey started with defining our vision. The vision is “we want to be active in managing our ESG responsibilities, selecting actions and identifying opportunities and objectives that have a  positive outcome to minimise climate change”.  In the realisation that we can do much more if we align ourselves with likeminded businesses, and conscious that Government has a significantly greater ability to foster policies that protect the environment, we became founder members of Malta’s ESG alliance.

Let us start with short term action we have taken, mostly the low hanging actions which are within our reach.

The reduction of waste, the separation of waste into the recyclable elements, the bio degradable elements, the re-purposing of elements.  Mostly these actions simple require a change in attitude and lifestyle.   To put simply, we select goods, services, alternatives which have the lower environment impact.

These measures often come at a cost.  In our businesses, renting three skips to separate waste into different elements involves cost.  Cleaning materials to reuse or recycle them generally involves labour cost, which possibly is more than the cost of the materials themselves when all is factored in.

Consciously the AX Group has taken the route to adopt these actions.  Our ESG committees supported by management and in line with the Board of Directors’ direction, have identified many measures that have been successfully implemented with the full co-operation and support of our employees.  We are greatly encouraged by the active participation of our employees in this regard.

In the medium term we have taken other decisions and measures that will have significant positive results and longer lasting benefits.  The education and training of our employees and continually reinforcing our commitment to follow ESG principles has broadened the reach of our vision beyond the business itself.

We are selecting vendors with greater awareness of their own ESG practices and policies and we intend to do more of this going forward.

We have purchased electric vehicles to replace some of our fleet of cars and intend to do so more and more where it justifies doing so.

The longer term is an area where the AX Group has had a much more significant vision which is reflected in its choices and actions.

It is a well known fact that the construction and transport industries are among the greatest generators of greenhouse gases.

We are not active in the transport sector, being primarily a user of means of transport and not a provider of transport services.  So let us focus on the construction and development sectors, two of the AX Group’s core business divisions.

And here we have an exciting story to tell that goes back many years.  The principles of reduce, reuse, repurpose that I referred to earlier also apply here and with much more significant implications.

Allow me to broaden my analysis and put things into the social and economic perspectives of the Maltese islands.

Our forefathers over thousands of years selected the soft globigerina limestone to cut building blocks and learned to work these artfully to give us the great homes, palaces and public buildings as well as the towns and fortifications that kept them safe over the millennia.  Our stone was and still is quarried with minimal carbon being created – an axe or saw was used to extract the natural material, often in the past being cut close to the same location that the stone was going to be used.   Our stone generally has a long life but on the downside, low thermal properties, is a heavy material to work and relatively low structural strength.

In the 2000’s we experienced a marked sift in our building methodologies.  Our architects, developers and construction workers for many justifiable and valid reasons shifted the material of choice for our buildings to bricks, concrete and steel.  Materials that have much greater structural strength, are easier to work with the right machinery and possibly more relevant to the types and size of building projects that are often constructed today.   But we know that steel and concrete particularly have a very high carbon output, and bricks are the product of a manufacturing process.

Back to AX Group and its philosophy of “Building Communities” .  This philosophy ties in the Environment with the Social aspects of ESG.

How have we embraced this in reality.

When Angelo Xuereb set up his construction company almost 50 years ago he started operating out of a site on the periphery of Naxxar in what was then a predominantly agricultural area.  As the urban sprawl of Naxxar encroached on his property he realised that a construction yard with it noise, dust and frequent movement of trucks and other construction equipment was no longer compatible with the evolution of the residential area.  He applied to the Planning Authority to redevelop the site as a Retirement Village.   He was well aware of the ageing population in our islands and the demographic trend towards an increasingly ageing population were already evident even then.

Unfortunately it took him more than 23 years before the authority was forthcoming with the permit but as soon as the development had been permitted, he embarked on the building of what today is the Hilltop Gardens Retirement Village and the Simblija Care Home.  He designed the building to afford the maximum open space with just over 55% of the site being built upon, he optimised natural light into the buildings and created the facilities that residents would need to enjoy their years at the village.  He excavated a reservoir to capture rain water and reuse it as second class water.  We installed photovoltaic panels on the roofs of the buildings to ensure that the village’s carbon footprint would be minimal.

Another venture of the AX Group was the rehabilitation of its quarry at Imselliet and the installation of one of the islands largest photovoltaic plants.  Another measure to minimise the Group’s carbon footprint.

In the last years the AX Group has bought three buildings in Valletta and repurposed two into boutique hotels and another into a prestigious office.

In designing our development at Verdala we have set a lifespan for the building of 100 years.  In practice this means considerable additional cost in the materials we use for the finishes of the building, the type of insulation to ensure it is energy efficient and at the same time provides the residents with the comfort and privacy expected of a luxury development.  It takes a lot of time to convey these qualities to prospective buyers of the property who often make decisions based primarily on price.

The AX Group is steadfast in its commitment to the Environment, to good governance and to being a business with a strong social conscience.  We show this in our decisions, in our action both in the short, medium and long term.  This is what makes us proud and comfortable to say “This is AX Group”, a leader in so many ways.

Nothing great ever came out of comfort zones

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We grew up with big names like Oprah Winfrey, Stephen King, Christina Aguilera, Mark Wahlberg, and numerous others, including the notorious Albert Einstein, being mentioned among us and looked up at with great admiration. People that had the greatest successes! But guess what? None of them came out of their comfort zones. It happens that most of the time, those that have been most successful are the ones that faced the most adversity and the ones that managed to conquer those adversities with great determination and resilience. Unfortunately, people don’t realize this, as they cannot imagine the journey they would have had to go through to get to where they are today. People judge from where they stand because that is what they know. Which leads me to say that the more we go through in life, the wider our perspective becomes, if we are open to learn from them and allow them to change us for the better.

 

People that have been through hardship and have succeeded in life are the ones that just walked right through it. Felt every inch of that pain, took it all in, and managed to break it all down to the smallest fraction in order to process it all properly to be able to give it a new dynamic and a new shape to themselves. It is THAT that makes us become bigger people. To me, pushing those boundaries is what it is all about. It is only when we dare to challenge the norm will we discover the real inner strength that we have, and where it can take us. Restricting our mind and body will only restrict our possibilities.

What all this means is that if we are afraid to go out of our comfort zone, that’s exactly where we shall stay, leading us to an average life with a surely average result. Don’t expect anything great to come out of that. I was brought up with the philosophy of ‘no pain, no gain,’ and now that I’m all grown up, I realize how true that expression is. How can we expect extraordinary results if we don’t go the extra mile or two?!

 

I can comfortably say that I have been living out of my comfort zone now for the last twelve years. When I look back, I realize what a different person I was back then. I see a totally different version of myself. Still the same characteristics but much more dynamic, confident, bold, and fearless. Through my hardship, I have acquired skills that I would have never managed to accomplish had I not been through those difficult moments of adversity. Don’t wait for something major to happen in order to get to the depths of your true potential. Try with baby steps as a start. On a simple note, dare yourself to do something you have never done before and explore what that will lead you to with an open mind or dare yourself to do things differently rather than use the same tried and tested methods. Learning new things, meeting new people, seeing new places, and trying new experiences. What’s most important, however, is the next step after that. To see where that has led you. Stop to observe. Literally watch yourself as though you are watching from a different angle. See how applying a new way has led you to a better outcome or not and how that might have opened new horizons in different areas. Once you have identified that, it will help you witness growths as small or big as they are, that will give you the right dose of courage to take it further and dig deeper.

 

This continued process will lead you to completely different avenues than you once knew. It will give you a deeper understanding that there is so much more than what we are used to. It will give you perspective. Once you accomplish that, the roads for growth are endless. You realize that you can literally apply this to anything. The more you apply it, the more confident you become and the bolder your thinking process becomes. You have surely heard this saying before “we are what we have been through” and it is so right. Our mind is a machine and for that, I must add that it is the most powerful tool that we have. The more we feed it, the more it works but it can also work in the negative if we feed it negativity. On the contrary, if we feed it possibilities, it will give us numerous alternatives to allow us to reach our goals. The more we give it feedback, the more accurate the new alternatives/solutions to our challenges will be. Just like a muscle, it will become leaner and stronger. Don’t be afraid, allow yourself time to explore. I promise you it will lead you to roads you have never been through before, sceneries you have never seen before and scents you have never dared to smell. Build on it and shape yourself into the human being you want yourself to become. Please, enjoy the process. Don’t sabotage yourself. Do not panic or stress. It might give you some anxiety and insecurity, just be prepared and don’t let it overtake. Just acknowledge it and be conscious of it so you make your fears smaller than they really are. Be patient and remain optimistic, no matter the struggle. If your feet won’t allow you to make those steps for a few days or so, don’t worry, it is perfectly normal; we are humans after all not programmable robots yet, thank the lord. Just breathe it out and let yourself be BUT keep your mind focused because one day your mind will take you there. It will be waiting for the right opportunity. Just keep it in the back burner until it is ready. Then just trust yourself and go with it. Allow the flow to lead you the way.

 

If you are like me, I would want to know if I am on the right track or not. How will you know? Very simple… if you are not familiar with the ground you stand on and it makes you feel uncomfortable, you are on the right track. Congratulations, you are starting to exit your comfort zone 🙂 In theory, the more uncomfortable you are the more you are out of your comfort zone. However, always remain true to yourself. Is there still you in there? We don’t want to become somebody else, remember that. We love how we are; we just want to become fitter and stronger, so that doesn’t mean losing our souls. Remain loyal to who you are, in the process. Losing yourself will only lead you to confusion in the long term and to lose the whole plot.

 

Expand your awareness into the world of possibility. It is right there where your possibilities start to become visible, and your journey starts to be truly explored. Once you reach this stage, you have altered your state of mind for life. This, ladies and gents, is the greatest gift you can give to yourself in this one life that we have been given. You will never look back after that.

Empowering Progress: The Crucial Role of Women in STEM Professions

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In the realm of Science, Technology, Engineering, and Mathematics (STEM), women have historically been underrepresented. However, strides have been made in recent decades to break down barriers and encourage more women to pursue careers in these fields. The inclusion of women in STEM professions not only fosters diversity but also drives innovation and progress in society. This article delves into the pivotal role women play in STEM and explores the challenges they face along the way.

The Importance of Diversity in STEM

Diversity is crucial in any field, but particularly in STEM disciplines, where problem-solving often requires varied perspectives and approaches. Women bring unique insights and experiences that enrich research, development, and innovation. Studies have shown that teams with gender diversity tend to be more creative, productive, and successful in problem-solving than homogeneous teams.

Moreover, the representation of women in STEM professions is essential for creating inclusive technologies and solutions that address the needs of all individuals. Without diverse voices at the table, there is a risk of biases being embedded in products and services, leading to unintended consequences and inequalities.

Challenges Faced by Women in STEM

Despite the increasing recognition of the importance of gender diversity in STEM, women still encounter numerous challenges in pursuing and advancing their careers in these fields. Stereotypes and societal expectations often discourage girls from showing interest in STEM subjects from an early age. Additionally, the lack of visible female role models in STEM can make it difficult for girls to envision themselves succeeding in these professions.

As women progress in their STEM careers, they may face discrimination, implicit bias, and a lack of support for work-life balance. The pervasive culture of male dominance in many STEM environments can create hostile or unwelcoming workplaces for women, hindering their professional growth and retention in the field.

Encouraging Women in STEM

Efforts to encourage and support women in STEM must begin early in their educational journey. Schools and educational institutions play a vital role in providing opportunities for girls to explore and excel in STEM subjects. Firsthand learning experiences, mentorship programs, and initiatives aimed at challenging gender stereotypes can help spark girls’ interest and confidence in pursuing STEM careers.

Furthermore, organisations and employers must prioritise diversity and inclusion in their recruitment and retention strategies. Creating supportive work environments, offering mentorship and professional development opportunities, and advocating for gender equality policies are essential steps in fostering an inclusive culture where women can thrive.

 

The Role of Female STEM Leaders

Female leaders in STEM serve as inspirational figures and mentors for aspiring professionals. Their accomplishments and contributions not only break down barriers but also pave the way for future generations of women in STEM. By sharing their stories and experiences, female leaders can empower other women to pursue their passions and overcome obstacles in their STEM journeys.

Moreover, female STEM leaders bring unique perspectives and insights to their respective fields, driving innovation and addressing societal challenges with creativity and empathy. Their leadership serves as a catalyst for change, promoting diversity and inclusivity in STEM organizations and driving progress towards gender equality.

The participation of women in STEM professions is not only a matter of equality but also a necessity for driving innovation, solving complex problems, and building a better future for all. By breaking down barriers, challenging stereotypes, and fostering inclusive environments, we can empower more women to pursue and succeed in STEM careers.

As we celebrate the achievements of women in STEM and recognize their invaluable contributions, let us continue to champion diversity, equity, and inclusion in the pursuit of scientific and technological advancements. Together, we can create a world where every individual, regardless of gender, has the opportunity to thrive and make a meaningful impact in the STEM fields.

Insights from AX Group Internships at AX Odycy Hotel, Qawra

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Internships at AX Group act as a crucial link between academic knowledge and practical application which offers young professionals a valuable hands-on experience. Welcomed by management, our interns are introduced to various team members across divisions to become familiar with the organisation’s functions, visions and gain knowledge essential for their roles.

Beyond skill acquisition, at AX Group we place emphasis on career and personal development, which is essential for both individual growth and organisational success. Entering the workforce can be challenging for new joiners and for this reason, our career development program plays a pivotal role in strengthening our interns’ confidence. At AX Group we provide interns with the tools and resources needed to navigate the complexities of the professional world. “Confidence is not only crucial for personal growth but also for fostering a positive and productive work environment” commented Ms. Joseanne Tanti, Human Resources Manager at AX Hotels, Qawra.

During our career development initiatives, including workshops and mentorship programs, interns get to connect with experienced professionals, mentors, and peers across the various sectors of AX Group, opening doors to opportunities and providing insights into industry trends. Designed to enhance interns’ skills, our career development activities help them in setting realistic career goals, empowering them to make informed decisions about their future paths.

While technical skills are essential, we greatly value the soft skills of our people. And what better way to address these skills than by welcoming them in an environment where effective communication, collaborative teamwork, and contributions to a positive workplace culture are part of who we are. “At AX Group, the significance of career development extends beyond the internship period, we aim to help interns evolve into well-rounded professionals that can confidently contribute to a dynamic professional landscape” remarks Ms. Tanti.

Recently, three interns gained a six-month exposure at the newly refurbished AX ODYCY Hotel in Qawra and shared insights on their experience with us.

 

Deborah Boucher – Human Resources Intern

“This international experience at AX Odycy Hotel in Qawra was not only professionally enriching but also personally rewarding. From the moment I set foot at AX Group I was warmly welcomed by a positive and inclusive work environment. The multinational team I had the privilege to work with created an atmosphere that encouraged collaboration and cross-cultural understanding.

Working alongside seasoned professionals who provided me with feedback and guidance contributed significantly to my academic and personal growth and enhanced my understanding of the global job market. Networking events, workshops, and social gatherings were valuable opportunities to make new connections with professionals from various industries, opening doors to potential future collaborations and opportunities.

These experiences have provided me with a well-rounded skill set that goes beyond the technical aspects of my field. The positive atmosphere, diverse learning and networking opportunities, and cultural exposure I had the opportunity to be part of have all contributed to shaping my journey. Reflecting on this, I am grateful for the rewarding opportunity that has set the stage for a promising and globally oriented future.”

 

Alberto – IT Intern

“During my internship at AX Odycy Hotel I had the opportunity to interact with colleagues from various departments, each showcasing countless abilities with a great sense of respect and collaborative teamwork. The experience allowed me to acquire a diverse range of IT-related skills, encompassing everything from software usage to managing networks, configurations and more. Interacting with my colleagues in everyday conversations and collaborative efforts not only expanded my technical expertise but also contributed to improving my spoken English, broadening my understanding of technical matters.

The management at AX Group played a significant role in my professional growth by consistently offering support and guidance whenever needed. Their inclusive approach made me feel not just like an intern but an integral part of the team. Achieving the goals set during my internship and becoming immersed in the welcoming company culture at AX Group are moments of pride for me. The positive and supportive atmosphere fostered by both colleagues and management has truly made my experience at AX Odycy Hotel a fantastic one.”

 

Pasquale Rosato – IT Intern

“Throughout my internship at AX Group, management, and colleagues across different departments, were supportive, friendly and took the time to answer questions, making it a welcoming and enriching learning experience.

The cultural diversity within the team and across the different sectors added a valuable dimension to my time at AX Odycy Hotel in Qawra. This diversity gave me ample opportunities to form new friendships and gain insights into different cultures. Being part of a team with diverse nationalities and backgrounds for six months made me feel welcomed contributing to a smoother learning journey.

One particularly proud moment during my internship was when my tutor entrusted my colleague and me with the responsibility of developing a web page for all the AX Hotel’s televisions. Although the project is still in development stage, the daily progress makes me proud of my contribution, providing a sense of motivation, empowerment and belonging. I highly recommend this internship, not just for the valuable experience of working abroad, but also for the supportive and positive work environment I found at AX Group.”

 

 

Insights into the Managerial and Supervisory Induction Process at AX Group

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At AX Group we recognise that the success of our organisation centres on the collective strength and expertise of our team across diverse business units. Our induction program is held regularly at the AX Business Centre to help new recruits at supervisory and managerial levels familiarise themselves with the Group; its vision, culture, operations and most of all, the people behind it all.

During these dedicated sessions, new team members are warmly welcomed by all senior management, including the Chairman, Directors, and Executive Management. These sessions feature insights from leaders in various functions from legal, finance, HR, information technology, to marketing. Each shedding light on their respective areas of responsibility contributing to a holistic understanding from a group-wide perspective.

We’re all about sharing knowledge and expertise, enabling new recruits to comprehend the strategic goals of AX Group and how each department adds its special touch to the organisation’s overall success. It’s not a one-way street; this inclusive approach aims to empower our new members and cultivate a sense of belonging within the organisation.

By facilitating interactions with the senior management team, we provide our new recruits a platform to establish valuable connections across different functions within AX Group. This isn’t just about handing them the tools for the job; it’s a two-way street. We want our new recruits to feel welcomed in a collaborative environment with a sense of camaraderie.

The induction process stands as the foundation of our commitment to excellence, ensuring that every new member of our team is well-prepared to contribute effectively to AX Group’s continued success.

Exploring Career Opportunities: French Students Visit AX Group

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A group of students from the CFA Academie in France visited Malta to explore diverse job opportunities and broaden their career perspectives. Their visit was not just a chance to discover potential career paths but also an opportunity for cultural exchange and professional development.

The students, accompanied by their tutor together with Ms. Josephine Grima Head of Human Resources at AX Group, were welcomed at the AX Group Business Centre for an exclusive show-around the offices. The tour included a brief explanation of the functions of various departments operating at head office, offering a firsthand look at the dynamic environment within AX Group. Ms. Grima provided insight how individuals could carve out meaningful careers across diverse sectors through opportunities for growth, training programs, and mentorship initiatives.

Mr. Nicky Camilleri, Chief Operating Officer at AX Group, shared valuable insights into the Group’s diverse business and human resource portfolio. He spoke about the Group’s cross-industry presence, with involvement in sectors ranging from construction and hospitality to real estate and beyond, presenting various avenues for professional development within the Group. This included discussions on talent development initiatives, and the overall commitment to nurturing a skilled and motivated workforce.

 

A second group of students had the opportunity to exclusively visit the ODYCY Hotel in Qawra where they were also residing during their stay in Malta. This experience allowed them to witness back of house operations and gain insight into the world of hospitality that surpasses quality and customer expectations. Through a planned agenda of interactive sessions, the participants were encouraged to ask questions, obtaining a deeper understanding of the hotel’s vision and commitment to guest satisfaction.

These two experiences were made possible through the efforts of Kenneth Baldacchino, Managing Director of Event Solutions Malta by Vacations Malta Ltd. AX Group is committed to supporting educational initiatives that contribute to the development of future professionals. Through experiences like these, we aim to inspire and guide the next generation, helping them make informed decisions about their career paths. We look forward to more such collaborative initiatives that bridge the gap between education and practical knowledge.

 

Leveraging ESG to Create Value: A Shift in Leadership Mindset

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In today’s dynamic business landscape, the pursuit of enduring success has taken centre stage. For years, enterprises have optimized operations through established models like Porter’s Value Chain, primarily focused on their bottom line. However, as the world shifts towards Environmental, Social, and Governance (ESG) considerations in business decision-making, we face a pivotal question: Should business leaders disrupt well-established routines? And where does the true value of ESG lie?

 

Unearthing Value through Disruption:

Traditionally, businesses have been reluctant to disrupt functioning routines, but value can emerge through disruptive initiatives, especially within the realms of ESG and business transformation. ESG signifies a critical paradigm shift, emphasizing profits alongside broader responsibilities towards the environment, society, and governance. So, how can we persuade business leaders to embrace this change?

 

ESG’s Multi-Dimensional Value:

 

Beneath the surface, ESG practices are inherently value-driven and definitely not disruptive. ESG performance increasingly influences funding costs; businesses excelling in ESG will find it easier to secure capital at lower costs, while those with poor records may face higher interest rates and stringent terms. A clear and direct detriment to businesses’ longevity and prosperity.

Furthermore, ESG practices tackle pressing global challenges like resource scarcity and environmental consequences. Poor ESG practices can lead to resource shortages as well as increased costs due carbon-related expenses resulting from CO2 emissions, including ‘carbon taxes’ and reputational damage among others.

As consumer preferences evolve, businesses that fail to adapt to ESG requirements risk having products and services rendered obsolete, as is looming in the shift from traditional diesel engines to sustainable alternatives in the automobile industry.

 

 

 

The ‘G’ in ESG: Governance’s Pivotal Role:

The ‘G’ in ESG represents Governance, a cornerstone for driving change within organizations. History furnishes us with a pertinent illustration from the banking sector, where efforts were made to mitigate risks stemming from high-risk endeavours undertaken by executives in the quest for profitability. As part of their strategic measures, ECB, emphasised on reforming executive and board compensation structures.  In an environment where ESG initiatives may be seen as counterproductive by leaders pursuing bottom line results it is high time to focus on strategic measures for ESG to be prioritised.

Among other measures, shareholders should push for performance assessment metrics that include ESG metrics to establish executive pay as well as providing ESG champions with direct access to the board.

 

 

Executive remuneration.

To establish a culture of ESG responsibility among business leaders, organizations should implement a robust system of ESG Key Performance Indicators (KPIs) that carry significant weight alongside traditional financial metrics. The integration of ESG KPIs is essential for driving meaningful change within an organization.

  • Penalizing Poor Performing Managers: In cases where executives exhibit subpar ESG performance, it is imperative to impose internal penalties that directly impact the financial performance of their respective divisions. These penalties should extend to their performance bonuses, creating a direct link between ESG goals and financial outcomes. This approach aligns the interests of business leaders with the organization’s commitment to sustainable practices, reinforcing the urgency of ESG responsibilities.
  • Rewarding Excellence: To further incentivize ESG excellence, penalties imposed on underperforming divisions can be strategically redirected to lower the financing costs of high-performing ESG divisions. By reducing the financial burden on these exemplary divisions, this approach not only acknowledges and motivates those driving ESG initiatives but also enhances their profitability. Ultimately, this financial reward system encourages managers to prioritize ESG goals, ensuring that sustainable practices become integral to their division’s success.

 

In this way, the strategic use of ESG KPIs not only holds business leaders accountable for their environmental, social, and governance responsibilities but also actively promotes a culture of sustainability, where achieving ESG targets is not just a moral obligation but a route to enhanced financial performance and success. This measure may initially seem harsh, but it becomes necessary in organizations where managers fail to understand the importance of ESG, driving home the critical connection between responsible business practices and overall success.

 

In a world where short-term gains are no longer sustainable, businesses must pivot toward ESG and business transformation for lasting value creation. The key to this shift’s success lies in reshaping the mindset of business leaders. linking ESG KPIs to financial consequences is one way to persuade business leaders to embrace ESG principles, not merely as a moral obligation but as a strategic necessity for shareholder wealth and long-term sustainability. It’s time to redefine success in business by uniting around the common goal of a more sustainable future.