Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

earningsBL Premium reports that Imperial Logistics has introduced a performance-based incentive plan for management after a group of shareholders rejected its remuneration policy in October 2018.  

Chairperson Phumzile Langeni indicated in the company’s 2019 annual report that the group's remuneration committee had discussions with the shareholders and conducted a “detailed” review of the remuneration policy and its implementation.  “This process emphasised the importance of fair and transparent remuneration policies and practices at all levels of the organisation, based on the achievement of clear performance goals and consistent long-term strategic decision-making.  We have since made a number of material changes to the group’s remuneration policy and the way we implement it,” Langeni wrote.  She said the company had replaced the annual deferred bonus plan, which had no performance conditions, with the conditional share scheme.  The conditional share plan has performance conditions that incentivise long-term sustainable achievements.  “The board insists that remuneration be linked to measurable results,” Langeni said.

  • Read the full original of the report in the above regard by Siseko Njobeni at BusinessLive (paywall access only)

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