The Reward Practice Pty Ltd

As the AGM season in Australia hits full swing, we have conducted research to understand what actions (if any) have been taken by ASX300 Companies that received a ‘strike’ on their Remuneration Report in 2023. 13% of ASX 300 companies received strikes last year – the largest since the legislation was introduced in 2012. Read the full update here. https://lnkd.in/gUb3v4aR We will continue to update this web page with news as the AGM season progresses. #agmseason #asx300

Introducing our new consultant! Nirvana Marini joined The Reward Practice as a Manager in June 2024, expanding our East Coast presence in Sydney. With over a decade of global HR consulting experience, she has focused on remuneration for the past three years. Nirvana specialises in Remuneration Report Writing/Reviews, Sales Incentive Design, STI and LTI reviews, and Remuneration Committee support. She currently partners with clients on annual reports and incentive market practices. Nirvana's superpower is connecting remuneration with broader HR aspects like Job Architecture and Job Evaluation and shaping remuneration imperatives as part of a broader holistic Employee Value Proposition. Her experience spans sectors including Mining, Financial Services, Technology, Aviation, Automotive, Consumer, and the Public Sector. Sydney-based contacts, to connect with Nirvana over coffee and discuss how we can support you, please email: nirvana@therewardpractice.com.au

Setting the right remuneration levels is crucial for any organisation aiming to attract, retain, and motivate top talent. While there’s no one-size-fits-all answer for determining pay, there are principles that can help guide your decisions. Our latest blog article offers four essential considerations for establishing effective pay levels for your organisation and illustrates why performing a benchmarking analysis is critical for determining employee pay levels. Read it here: https://lnkd.in/gTTv3Qmj #benchmarking #employeepay #remuneration

Get your hands on a complimentary copy of our latest Remuneration Pulse survey report from June 2024, featuring remuneration data and insights from over 100 companies across Australia. Find out what other companies are planning to pay for the rest of this year and into 2025. Download it here: https://lnkd.in/g2vw-Rm

A detailed report from Harvard Law School (https://lnkd.in/gU5MECtZ) explores evolving trends in Executive remuneration clawback in the United States. Australia can expect new Corporate Governance guidelines, effective from 1 July 2025, and may find it useful to note how clawback is being approached in other countries. Contact us today to prepare for these upcoming changes and make sure your Executive remuneration remains competitive and compliant. For more information on clawback (and why you should be paying attention!), check out our blog, "What About Clawback? Time To Review Your Executive Incentives". https://lnkd.in/gWQsk_7t #executivepay #remuneration #clawback

A recent audit report by proxy advisors ACSI states that "Executives are more likely to be sacked than lose their bonuses". (Read the full story here: https://lnkd.in/dSJzyXBa) The audit took a sample from ASX100 & ASX200 companies and found that only 8 CEOs received no bonus in the past year. This is perhaps an indicator that short-term incentives are not necessarily being aligned with company performance. Companies continue to face careful scrutiny by shareholders and proxy firms regarding bonus payouts and it's important to ensure that Executive pay and company performance are properly aligned.  The audit findings echo our own data on CEO bonus payouts in 2023, where ASX300 mining and metals companies reporting low TSR still paid out over 50% of maximum available bonuses. (See infographic) Our feature blog this week, "Performance Rights: 3 Real-World Examples" (Read it here: https://lnkd.in/g4intdXA) can offer some high-level insight into how companies can align pay with performance. We invite you to contact us for further guidance. 

In recent years, performance rights (Rights or also referred to as zero priced options - ZEPOs) have become a popular incentive method, offering employees a stake in the company’s success while driving them to achieve specific goals. Read our latest blog for 3 examples of how companies in different industries might use them to drive engagement and performance. https://lnkd.in/g4intdXA #performancerights #executivepay #incentives

The notion of developing a remuneration strategy may seem daunting, but being that remuneration is often the largest cost to a business, can you really afford not to have one? With the new financial year just around the corner, it's the perfect time to revisit your remuneration policies and make sure they're supporting your overall business strategy. In our most popular blog article to date, we explore the core thinking around remuneration strategy, and how it benefits everyone. https://lnkd.in/dUs7Wng

Business leaders - are you looking for answers around: ➤ What base salary increases are being planned? ➤ What incentive outcomes are expected? ➤ What changes are being made to remuneration and reward approaches? Get our complimentary Remuneration Pulse Report in June which will answer these questions and more! Head into the new financial year with hard data on what remuneration movements are taking place in your sector. All you have to do is participate in our short Remuneration Pulse Survey. Answer four quick questions in return for a wealth of insights. Participate now ➡️ https://lnkd.in/gWQKGW8N

📣 Business leaders, remuneration specialists and HR professionals – here’s an easy way to stay informed of the world of remuneration and reward strategies. Sign up for our free email newsletter, "The Remuneration Update" and get valuable remuneration news and insights delivered right to your inbox a couple of times each month! As a subscriber, you'll enjoy: 📌 Regular Remuneration Update emails, keeping you informed on the latest industry trends, headlining remuneration related news and our tips for best practices. 📌 VIP access to our complimentary, bi-annual Remuneration Pulse Reports, featuring comprehensive market data and analysis. 📌 Invitations to our in-person and online events, offering networking opportunities with industry experts. 📌 Access to specially curated remuneration content, including handy downloads, reports, and other useful resources. Join our community to stay ahead of the game. Subscribe to The Remuneration Update now. 🔗 Sign up now: https://lnkd.in/gwxEiTbc