GIC builds a supportive environment for our people to build connections, advance their careers, be recognised for their efforts, and bring their best selves to work. GIC’s social impact strategy focuses on empowering employees to contribute meaningfully to build resilient and liveable communities in the markets we operate in.
7.1 Developing Our People for High Performance
embracing diversity across multiple dimensions by cultivating a global and diverse talent pool; ensuring fairness for all regardless of backgrounds in an equitable workplace; and enabling GICians to be at their best through inclusive practices.
On 30 October 2024, GIC hosted the official launch of the CFA Institute DEI Code in Singapore, jointly organised with the CFA Society Singapore.
7.2 Supporting Our People to Live and Work Well
7.4 Social Impact
This chapter showcases the people behind GIC – fondly referred to as GICians – to offer you a glimpse into life at Singapore’s sovereign wealth fund.
GIC builds a thriving and inclusive community by creating a supportive environment for our people to build connections, advance their careers, be recognised for their efforts, and bring their best selves to work.
Our approach to employee development can be summarised as “you grow, we grow”. As our employees become more skilled, we derive better business outcomes and our organisational performance improves.
We adopt a multi-pronged career development framework, where an employee’s learning encompasses on-the-job exposure, learning from others, and formal training. In addition, there may be relevant opportunities including internal mobility, stretch assignments, global exposure, and leadership roles. The aim is to build a diversity of capabilities, skills, and strengths in our workforce.
We grow our talent bench at every level. The following is an account of our talent strategies.
The GIC Professionals Programme attracts and develops high-potential graduate talent. Graduates from around the globe go through a rigorous assessment process. Upon joining, they go through a multi-week cross-functional bootcamp that provides them with exposure across GIC. They then embark on rotations across multiple departments before they embark on their permanent postings.
High-performing talent with the potential for expanded responsibilities receive opportunities for accelerated growth and targeted development. GIC facilitates timely movements of talent across divisions, departments, and geographies, as well as external secondments with industry partners and counterparties. These experiences build both exposure and agility at formative stages of GICians’ careers.
GIC actively recruits seasoned professionals from a variety of industries to strengthen our talent bench. This inflow of talent brings fresh perspectives, capabilities, and breadth of experience that add to our strengths. Hiring managers emphasise diversity to ensure new hires add different viewpoints and experiences to the team.
As our leaders take on broader people management roles, GIC provides people manager training and leadership programmes to build high-performing teams. We believe in a strengths-based approach to talent development and nurture leaders to create the right team climates that enable teams to flourish.
At the senior levels, GIC’s succession planning ensures critical department-level and enterprise roles are filled with the best-fit leaders possible. This process involves assessments, multi-year development, and active mentorship. By the time leaders take on critical enterprise roles, they would have spent significant time across geographies and sectors, allowing them to draw upon a rich portfolio of leadership experiences. Succession planning is reviewed by the Group Executive Committee and overseen by the Human Resource & Organization Committee of the GIC Board of Directors.
After completing her undergraduate studies under the GIC Scholarship Programme, Nicole joined GIC through the GIC Professionals Programme in 2007.
Recalling her early internships and rotations at GIC, Nicole said, “I now realise how inexperienced and privileged I was. I had very patient supervisors who not only provided rigorous on-the-job exposure to technical skills, but also helped me to refine my communication style and allowed me to join senior-level meetings, even if the only contribution I could make was to take notes. Those experiences reinforced the importance of humility and a growth mindset as ingredients for success.”
Only a year after joining GIC, as the Global Financial Crisis began, Nicole was posted to London as one of GIC’s first 10 infrastructure investment professionals. “It was a very intense time to be learning about managing risks and grasping opportunities!” she said.
In 2012, she returned to Singapore to cover the Asian infrastructure market. She also had a year-long secondment to one of GIC’s external managers to learn more about infrastructure investments in emerging markets.
Reflecting on her growth, Nicole said, “Working across a broad range of business and cultural settings, combined with the experience of living abroad, has taught me the importance of finding commonality in values with colleagues and partners. While I have become more flexible in my communication and investment approach, at the end of the day, shared values create the best alignment for success.”
Nicole is now the Head of Infrastructure for Asia. She manages a team of about 20 Singapore-based investment professionals who are responsible for the execution and performance of GIC’s Asia Pacific Infrastructure portfolio.
— Nicole Goh, GIC’s Head of Infrastructure for Asia
When there is a good opportunity, we encourage GICians to take up new positions within the organisation to broaden their horizons and reinvigorate their careers with new experiences.
— Raymond Tan, Vice President, moved from Internal Audit Department to Investment Services Public Markets Department
The Global Foundation Programme by GIC School, our dedicated learning and development academy, brings together newly hired and recently promoted employees to prepare them for a meaningful career journey at GIC. The programme enables employees to hone their leadership and life skills, broaden their perspectives, and strengthen relationships within the organisation. The programme includes experiential professional and personal development modules, dialogues with senior leaders, and meaningful relationship-building activities.
To empower GICians to take charge of their own development, we provide a training allowance that they can use for upskilling through external courses and online programmes.
– Lau Zhen Min, Assistant Vice President, Private Equity, who focuses on GIC’s private equity investments in the healthcare sector globally
GIC’s supportive and inclusive workplace practices recognise that our workforce comprises people with different needs and circumstances. Our environment and workplace policies allow employees to perform to the best of their ability and contribute meaningfully to GIC by taking care of their well-being – at work and at home.
Our commitment to DEI reflects, and is guided by, our PRIME values which serve as our compass — Prudence, Respect, Integrity, Merit, and Excellence. The way we work is founded on Respect for one another, and Merit ensures our people management policies are equitable and fair for all. When diverse individuals feel included, we build shared belonging to GIC and to one another, in service of GIC’s mission. This enables us to build a GIC community where we can be our authentic selves and where our contributions are recognised and aligned with corporate goals.
Our approach to DEI is consistent and principles-led, anchored in three pillars: embracing diversity across multiple dimensions by cultivating a global and diverse talent pool; ensuring fairness for all regardless of backgrounds in an equitable workplace; and enabling GICians to be at their best through inclusive practices.
Crucially, even as we strive to reach out to less represented talent pools, we hire based on meritocracy and performance, and this is never compromised. To us, DEI is not about affirmative action. Our DEI recruitment programmes enable us to tap into larger talent pools, but candidates under these programmes undergo the same selection assessments to ensure best fit for the job.
We acknowledge that DEI is a continuous journey and are committed to improving in this space.
Find out more about our DEI practices here.
Figure 1. Our people as of 31 March 2025
Global office locations
Where are our staff from
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Singapore
Asia, Australia, and Africa
Americas
Europe
Breakdown by tenure
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<5 years
5 to 10 years
10 to 15 years
>15 years
The GIC-Mendaki Scholarship is awarded to Singaporean Malay/Muslim students with good academic results and a keen interest to pursue a career in the finance industry. It covers tuition fees and living expenses, and also provides access to a range of learning opportunities including overseas exchange programmes. Upon completion of their studies, scholars join the GIC Professionals Programme, our full-time structured rotational programme for graduates.
– Danish Ashriq, GIC-Mendaki Scholar
On 30 October 2024, GIC hosted the official launch of the CFA Institute DEI Code in Singapore at our headquarters in Capital Tower, jointly organised with the CFA Society Singapore. We were also among the first signatories to the Code, committing to work on the six DEI Code Core Principles: Pipeline, Talent Acquisition, Promotion and Retention, Leadership, Influence, and Measurement. These principles are aligned with our DEI beliefs and ongoing efforts.
Our annual DEI Week and International Women’s Day (IWD) commemorations are opportunities for learning and reflection as we take stock of our efforts in DEI, and commit to continuous improvement.
In February and March 2025, we held a series of insightful discussions centered around the theme “Come As You Are – You Belong”.
GICians from various backgrounds engaged one another on topics like work-life rhythm, parenthood, and majority-minority voices. In addition, we brought in experts such as Jacqueline Arthur, Head of Human Capital Management, Goldman Sachs; Dr Sam Collins, founder of Aspire, the UK’s pioneering women’s coaching and training company; and researchers Dr Mathew Mathews, Dr Kenneth Tan, and Dr Jasmine Virhia.
GIC offers flexible work arrangements, including remote work, staggered hours, and part-time arrangements. We are a diverse organisation with a wide range of roles and geographic coverage, operating across multiple time zones. We believe that flexibility and empowerment to manage our own schedules will enable our long-term success as it supports an inclusive environment for employees with varying needs and life circumstances.
Our Global Remote Working policy allows employees to work away from their main office location for a specified period of time each year. This policy contributes towards our employees’ work-life integration. It also allows employees to return to their home countries to be with their families physically, while continuing to contribute to their teams.
– Aveline Nursalim, Assistant Vice President, Investment Services Public Markets
We offer GICians regular opportunities to rest and recharge, on top of the usual annual leave provisions.
For example, we implemented a Year-End Wind Down period where we designate the period between Christmas Day and New Year’s Day each year as a collective season of rest. We also give GICians an uninterrupted break at certain service milestones through our Recharge Programme. Taking a break – especially after several years of devoted service – is important for well-being and productivity.
As a pro-family employer, our suite of family-building benefits is comprehensive and industry-leading.
– Jen Robertson, Managing Director, Public Equities, London Office
Our compensation framework is anchored in the principles of market-competitiveness and paying for performance. This aligns the interests of GIC employees with our long-term portfolio performance, promotes an informed risk-taking culture for accountability, and reinforces behaviours that contribute to GIC’s purpose and commitment to be the leading global long-term investor.
Key tenets of our compensation principles include:
GIC’s compensation policies and practices are governed by the Human Resource & Organization Committee.
We take a total compensation approach, comprising a fixed base pay, and a discretionary variable bonus based on portfolio performance measured using absolute and relative returns over relevant time periods. Qualitative measures for risk control, compliance review, people management, and financial sustainability are also considered. Bonuses are administered through upfront cash incentives that are delivered immediately, and short-term and long-term deferred cash incentives for senior staff that have time-based vesting requirements and are delivered in future years. These are also subject to clawback and cancellation provisions.
7.4 Social Impact
GIC’s purpose of securing Singapore’s financial future is predicated on a thriving global environment. In 2024, GIC refreshed our social impact strategy to focus on empowering our employees to contribute meaningfully to build resilient and liveable communities in the markets we operate in. This aligns with our corporate purpose and affirms our commitment to help build communities that are confident and prepared for the future, as well as communities that are safe, inclusive, and have a reasonable quality of life.
As part of the refreshed strategy, GIC employees can tap on more platforms and resources to give back. Employees can choose to volunteer their time and expertise to lead their own community projects or donate to support disaster and humanitarian relief efforts. Employees may also choose to participate in long-term programmes with like-minded partners to support vulnerable and underserved communities through our focus areas of sustainability, health and wellbeing, and DEI.
Empowering our Employees to Give Back
GIC actively supports our employees’ desire to give back to causes they care about through With Love, GIC, our employee volunteering programme. Apart from volunteering in their capacity as GIC employees, we encourage employees to do so in their personal capacity too. Employees are given two days of volunteer leave and volunteering grants to lead their own initiatives.
Last year, over 140 GIC employees and their families participated in our first ever global volunteering initiative, PRIME Impact 2024 (see Box 1). We also saw employees lead more than 100 ground-up initiatives to support local communities (see Box 2).
Lastly, we launched the GIC Resilience Fund, a donation matching programme that supports our employees’ desire to contribute to disaster and humanitarian relief efforts that matter to them. This past year, we supported four causes globally – humanitarian efforts in Southeast Asia after Typhoon Yagi, in the United States following Hurricanes Helene and Milton, in Israel and Gaza during the conflict, and in Los Angeles after the California wildfires.
PRIME Impact 2024 – Giving Back Across The Globe, Together (Box 1)
In May 2024, GIC organised our first ever global volunteering campaign to commemorate GIC Day, which falls on 22nd May. The campaign saw over 140 GICians and their families across our global offices collaborate with 14 community partners to deliver impact in their local communities throughout the month.
“Really getting involved with the local community, connecting with the people that live in the areas where we do business, that is I think what's really special and I hope people continue to build and support the communities that we work in.”
– Sam Kim, Chief Operating Officer
Beijing: Lifesaving training with Chinese Red Cross Foundation
Provided automated external defibrillators for underpenetrated neighbourhoods and participated in training to get equipped to help save lives during emergencies.
London: Distributing food with Go Dharmic
Packed food for 70 families from Essendine Primary School to help cope with rising cost-of-living and helped feed over 800 individuals in London.
New York: Refurbishing homes with Habitat for Humanity
Rehabilitated dilapidated homes and helped strengthened the sense of dignity for low-income families in Queens.
San Francisco: Distributing food with San Francisco-Marin Food Bank
Distributed groceries to around 740 families-in-need to help combat food insecurity in the community.
Seoul: Preparing hygiene kits with G Foundation
Prepared over 150 feminine hygiene kits for women from low-income households, providing them with access to better hygiene and improving their self-esteem.
Shanghai: Celebrating Children’s Day with New Sunshine Suzhou Hospital School
Celebrated Children’s Day with young patients at the New Sunshine Suzhou Hospital School.
Singapore: Community building with The Majurity Trust
Helped address unseen and unmet needs in the Chong Pang neighbourhood.
Tokyo: Building a playground with Playground of Hope
Revitalised a disaster-hit area in Kumamoto by building a playground for children dealing with trauma.
Ground-up Volunteering Initiatives (Box 2)
London
In partnership with Holland Park Ecology Centre
Close to 40 GIC employees volunteered to upkeep the six-acre Holland Park Forest School, by helping to maintain the natural habitats, a two-kilometre nature trail, outdoor classrooms, and an ecology lake. This effort helped to preserve an environmental education resource for schools and residents to enjoy.
San Francisco
In partnership with Habitat for Humanity
About 10 GIC employees contributed their time and effort to construct two playhouses in the Bay Area. Through enhancing the community’s recreational facilities, these new play spaces help bring joy to local families and children in need.
Shanghai
In partnership with Yisa Primary School
More than 10 GIC employees assembled winter kits for 150 at-risk students at Yisa Primary School in Butuo County. These kits were delivered to the school to help to ensure that the students were sufficiently equipped to endure the harsh winter season.
Singapore
In partnership with the National Volunteer and Philanthropy Centre and Shine Children and Youth Services
10 GIC employees formed a Giving Circle, pooling their time, money, and resources to support a family in need. Over a 7-month period, our volunteers regularly visited the family, helping to improve their quality of life by equipping their home with better furnishing. Additionally, they empowered the family to achieve greater independence by guiding them to prioritise finances and connecting them to suitable job opportunities.
Collaborating to Deliver Long-term Impact
GIC collaborates with community partners to create lasting impact through long-term initiatives that meets the needs of our local communities.
Last year, we launched our inaugural Impact Programmes grant call in Singapore to seek out meaningful partnerships with charities, aimed at building resilience and enhancing liveability for vulnerable and underserved communities. These new partnerships will be launched in the coming year. We also transformed our ongoing programmes to foster meaningful collaboration between GIC employees and our community partners to create greater impact together.
Ongoing Community Partnerships
The Purple Symphony
Our partnership with Central Singapore Community Development Council has expanded beyond a training award for musicians with special needs in The Purple Symphony (TPS), to include public outreach performances. These platforms will provide unique opportunities to nurture the talents of our awardees and empower them to shift public perceptions of persons with disabilities in the community, through music.
"The training award did more than offer financial support — it offered Luo Mang the space and encouragement she needed to blossom. As a young girl on the autism spectrum, she once found it difficult to connect with others. Through her journey with TPS, she has discovered a powerful means of expression in music, building not just her confidence, but also her ability to synchronise with fellow musicians as part of an ensemble. Today, being a part of TPS is a source of pride for Luo Mang, something that is a part of her identity and reflects her personal growth.”
– Xu Zeying, Luo Mang’s Mother
GIC Computing for the Community Fellowship Award
Our partnership with the Centre for Computing for Social Good and Philanthropy, under the National University of Singapore, equips computing undergraduates to create computing solutions for voluntary welfare organisations (VWO).
"Volunteering in this programme was a fulfilling opportunity to blend my passion for software development with community service. By managing product requirements with VWOs and mentoring students, I witnessed how the programme empowered the students to leverage their strengths to create efficient software systems for VWOs, enabling social workers to focus on serving their clients."
– Wincent Tjoi, GIC Volunteer
GIC Sparks and Smiles
Last year, GIC concluded the GIC Sparks and Smiles programme after a 10-year run. Through the years, the programme empowered over 1,400 students from lower-income backgrounds to become changemakers in their communities. These students went on to pay it forward in the community, contributing over 35,000 hours to serve beneficiaries across 23 community partners.
"GIC Sparks and Smiles was a catalyst for ITE students, providing them with essential training and enriching community service opportunities. These initiatives have empowered our students, deepened their understanding of social issues, and inspired them to keep giving back. With their new skills and knowledge, our students can thrive in the pursuit of their goals to make a lasting difference in society."
– Chong Leong Fatt, Deputy Principal, Institute of Technical Education
Social Impact Awards and Recognitions
In 2024, GIC was recognised for our social impact efforts to build resilient and liveable communities in the markets where we operate.
Achieved the Corporate Volunteering Award from Age UK Westminster, London.
Recognised as a Champion of Good by Singapore’s National Volunteer and Philanthropy Centre for the third time.
Awarded the People’s Association Community Spirit Excellence Award in Singapore for the second consecutive year.
Received the Rising Star Award by St Luke’s ElderCare in Singapore.
By creating a supportive environment for our people to build connections, advance their careers, be recognised for their efforts, and bring their best selves to work, we build a thriving and inclusive community at GIC.