Charoen Pokphand Foods Public Company Limited (CP Foods) is committed to enhancing the financial well-being of its employees. The company's swine business initiated the "Sufficient Farm" project, which aims to generate supplementary income for employees in addition to their regular salaries. This initiative strives to strengthen the personal finances of pig farms’ workers.
As part of this effort, the company has established cooperatives for employees working on pig farms. These cooperatives encourage saving habits and provide annual dividends to members. By promoting financial independence and cultivating a culture of saving, CP Foods aims to improve the overall happiness and financial security of its employees.
Somporn Jermpong, Head of the Swine Business at CP Foods, revealed that CP Foods places great importance on creating happiness at work for its employees. The company has initiated the "Finance Independence and Happiness Promotion" project in 2015, which has continued to the present day. This project has evolved into the "Sufficient Farm" project, implemented in 100 of the company's pig farms across Thailand by embracing the sufficiency economy principle in a practical manner. The program has established the staff cooperatives for encouraging the employees savings and improve their financial discipline. The employees in the pig farms are allowed to grow chemical-free farms that generate supplementary income and promote savings for employees. This help strenghten employees financial securities and quality of life, Additionally, the vegetable promotes good health through the consumption of quality and safe food produced by the employees themselves, while also campaigning for white pig farms to keep all employees away from cigarettes and drugs.
"The Sufficient Farm project supports supplementary income generation and increases savings for employees by utilizing the farm's capabilities and available agricultural areas for both crop cultivation and animal husbandry. The farms have pig manure and liquid fertilizer for use in cultivation. We've adopted the concept of integrated chemical-free farming, including fish and frog farming, and established farm employee cooperatives to sell agricultural products. This creates additional income and dividends, while also providing knowledge on savings and household accounting, leading to appropriate financial planning. It also increases employee work efficiency as they don't have to worry about debt burdens and have a good financial foundation for themselves and their families," said Somporn.
An example of success can be seen in the farms under the Northeastern Swine Business, which have implemented various projects for employees under the concept of "Northeastern Pig Farms and Creating a Better Life for Employees." These initiatives not only help improve employees' quality of life but also create sustainability for the organization. Examples include the "Happy Kitchen" project, which involves raising laying hens and fish, and growing organic vegetables to provide employees with fresh, quality meals. The "Happy Shop" project helps employees buy quality products at affordable prices. This year, cumulative sales have already exceeded 12 million baht in 23 participating farms. All profits from sales are distributed as dividends to participating employees, resulting in average savings of 3,600 baht per person per year. This feeling helps boost morale and work motivation while enhancing daily life security. Another important project is the "Debt-Free Happiness, Household Accounting, and Savings" initiative, which aims to help employees facing informal debt problems by both relieving debt and providing financial management knowledge, supporting employees in saving money for future use. Over the past 8 months in 2024, more than 1,500 employees have participated in the project.
Furthermore, there's an example of success from farms under the Eastern Swine Business. In 2023, 616 employees from 14 farms participated in the project, representing 100% of the total workforce. They were able to solve informal debt problems and achieve 100% freedom from drug issues. Everyone has supplementary income from agricultural products they collectively manage, which are sold to the farm's kitchen. This results in savings and quarterly dividends from the farm cooperatives. Importantly, the project's investment funds are entirely generated from the project's operations, reflecting the true sustainability of the initiative.
