PeopleNet Ltd works closely with the United Nations supported Principles for Responsible Investment (UNPRI) to promote their executive pay recommendations to responsible businesses:
- UN-PRI Recommendation #1: Identify appropriate ESG metrics.Companies should adopt a clear process for identifying appropriate ESG metrics that relate to sustainable shareholder returns and company strategy.
- UN-PRI Recommendation #2: Link ESG metrics to executive pay.Companies should link appropriate ESG metrics to reward systems in a way that they form a meaningful component of the overall remuneration framework.
- UN-PRI Recommendation #3: Disclose company practices.Companies should endeavour to disclose the rationale, method and challenges presented by the incorporation of ESG metrics into executive pay clearly and concisely.
To integrate Environmental, Social and Governance (ESG) factors into your pay structures, PeopleNet Ltd has developed the bespoke EARTH methodology in five steps: Evaluate current peer and industry ESG positioning; Ascertain ESG vision, strategy, time horizon, targets and metrics; Realise changes: who should be involved, ESG training, new processes, tracking, link to pay and scenario testing; Tell influential internal and external stakeholders and disclose (as necessary and appropriate) where the firm is at with ESG, where it wants to be, progress made and challenges encountered; Help monitor ongoing ESG progress on a regular and iterative basis (results, improvements, challenges, link to pay). Corinne is a regular public speaker at UK and international conferences on the topic of Responsible Reward and the EARTH methodology.
To ensure your firm and your people understand and adhere to what is expected of them in a highly complex and regulated environment:
- Monitoring the impact of current and proposed UK and international remuneration regulations on your business;
- Reviewing and improving your level of compliance;
- Drafting and presenting remuneration papers, policies and disclosures.
YOUR BUSINESS PARTNERS:
To support your business strategy, attract and retain talent, reward good performance, promote your corporate values and exit failure by:
- Structuring compliant, attractive and affordable packages when you recruit;
- Designing incentive plans that link business strategy, corporate values, performance and pay;
- Harmonising reward structures when you merge with or acquire another organisation.
To create a commercially-focused reward offering by:
- Gathering market intelligence through conducting bespoke surveys;
- Benchmarking and analysing your competitive positioning;
- Improving the internal and external communication of your reward proposition taking account of your desired ESG positioning.
To provide a framework for internal equity and promoting fairness by:
- Reviewing pay, incentives and benefits annually;
- Writing and implementing guidelines on how to set pay on appointment and manage its progression;
- Analysing, reporting and addressing any gender or other undesirable pay gap.
YOUR REWARD TEAM:
To grow and develop your Reward/ HR people by:
- Mentoring and upskilling your team (technical and soft skills);
- Providing regulatory updates and explaining their impact on your remuneration structures;
- Integrating Environmental, Social and Governance (ESG) factors in pay structures.