The main role and function of the Remuneration Committee is to assist the Board in developing and administering a fair and well-designed remuneration strategy, policy and philosophy. The mandate includes the remuneration of Directors, senior management & general staff – including the determination and adjustment of their remuneration packages, including all forms of fixed and variable pay, on the basis of their merit, qualifications, and competence. By nature, the RemCo will take into account the organisational operating results, individual performance, and comparable market statistics.
As a specialist Reward Consultancy, we are able to provide expert remuneration committee advisory, entailing:
- Advising on good practice in accordance with the appropriate King codes and good practice industry norms and standards, including assessments and gap analysis;
- Remuneration data provision and comparison;
- Advising on and drafting of remuneration strategies, charters, policies, procedures and philosophies;
- Expert industry related knowledge &
- Development of guidelines and tools on any remuneration governance related issues.