Reward Retrospection and Outlook
6 November 2012
Meeting Time: 17.00 - 19.00
As the business and governance context changes, reward practice continues to evolve.
Our most recent meeting provided attendees with an opportunity to deepen our understanding of the context in which reward will be operating from 2013 and onwards. What are the implications? How should stakeholders respond? Are there new principles that should be adopted?
A short paper set out some of the factors impacting reward, including the economic environment, public opinion, the ownership model, regulation and the power of regulators, the role of the RemCo, and how reward has itself developed. Our guest speakers provided their views on the context, how they would like to see the various stakeholders respond, and any new principles or themes they would like to see emerging. The discussion then opened up to the floor for the sharing of perspectives and their consideration.
Our guest speakers included: David Paterson, Head of Corporate Governance at the National Association of Pension Funds, and Crawford Gillies, Non-executive Director of Standard Life plc and Chair of its Remuneration Committee.
The paper has been circulated to members. In addition to summarising context, it reprises some of the significant findings from PARC meetings and research of the last couple of years and is available to download from the Members’ only section of the website.