"PAYING FOR GOOD"

In this episode of ‘PAYING FOR GOOD’, you will also learn from Caroline about:

• the PLSA stewardship and voting guidelines on executive remuneration
• the PLSA view on integrating ESG factors into incentives
• why there’s a lot of ‘noise’ around executive pay and yet little dissent when it comes to voting decisions.

Your action takeaway:

If you are a pension trustee, please share your statement of investment principles (SIP) and your implementation statement with your employees to demonstrate you’ve taken their views on board.

Caroline also encourages you to be more demanding clients by holding your advisers and asset managers to account. Regulators, policymakers and, increasingly, the public are watching what you’re doing, and it’s up to you to rise to the challenge of investing responsibly.

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In this episode of ‘PAYING FOR GOOD’ with Charlene and James, you will learn about: 

•  the impact of the office on employee wellbeing and pension investments 
• the environmental impact of our collective actions as office occupants
• the BRE tools, assessment and certification programme that are available to you to create offices where people thrive

Your action takeaway:

As we see some glimmer of hope that we’ll soon find a way out of the Covid-19 pandemic, think about if and how your employees will be transitioning back to the office.

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In this episode of ‘PAYING FOR GOOD’ with the Right Honourable Lord Deben, Chairman of sustainability consultancy Sancroft International, you will learn about:

• how to create a sustainability strategy
• the impact of Covid-19 on sustainability strategies and priorities
• the concept of resilience, which is crucial for navigating and embracing change.

 Your action takeaway

Just like life, your sustainability agenda is constantly changing and evolving. Panta Rhei. 

‘Face the facts,’ says Lord Deben, ‘and identify the Environmental, Social and Governance priorities in your business that need to be improved to be the business you want to be’.

As an individual, you will also benefit as you contribute to something much bigger than yourself and create your own legacy.

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In this episode of ‘PAYING FOR GOOD’, with Joe Willcox, Financial Adviser at St James’s Place, you will learn about:

• the workplace benefits that are available to you
• the crucial role of the HR team in assisting with employee financial wellbeing
• what to do once you know your numbers.

Your action takeaway

Whether you’re using a little book, a spreadsheet or an online banking app, working out your income and expenses is the starting point. And if someone else oversees budgeting in your household, get involved so that you too know and understand your numbers.

You are not alone. Help is available.

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In this episode of ‘PAYING FOR GOOD’, you will learn from Caroline:

• the role of incentives in long-term thinking and business strategy
• whether a long-term orientation does create value
• how firms link social and environmental performance targets to compensation, and the pitfalls to avoid.

My question to you this week is: ‘Which stakeholders will you focus on and how will you reflect your approach in your remuneration strategy?’

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In this episode of ‘PAYING FOR GOOD’, you will learn from George about the ICGN’s:

• guidance on executive remuneration
• global stewardship and corporate governance principles
• viewpoint on Covid-19 and executive remuneration.

 Your action takeaways

  For remuneration professionals:

In the current environment of a global health crisis and the massive job losses that come with it, be mindful of the general consensus that inflated executive pay packages will not be supported by institutional investors.

 For corporate governance professionals:

Now is the time of the year when you issue updated executive pay guidelines. I would encourage you to sense-check them with your own remuneration teams. Responsible Reward is also about the alignment of external pay expectations from portfolio companies with your own internal pay practices.

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In this episode of my ‘PAYING FOR GOOD’ podcast, you will learn from our special guest Evan Davidge, ‘The Wellbeing Leader’, about:

• the different types of employee wellbeing
• how your wellbeing strategy is an opportunity to differentiate yourself as an employer of choice
• the pitfalls to avoid when creating your wellbeing strategy.

Your action takeaway

Evan would like to encourage you to audit your wellbeing strategy, assess how much focus you’re putting on each of the three Ps (Prevention, Promotion, Protection' and rebalance your efforts and budgets to focus more on preventing and promoting.

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In this episode of my ‘PAYING FOR GOOD’ podcast, you will also learn from Leon about: 

• the current trends in ESG data
• the complexity of ESG reporting and frameworks
• what would make a big difference to streamline ESG standards and assessments.

Your action takeaway

When I speak to firms and engage with them, in the vast majority of cases I see good intentions to comply with regulatory requirements and to volunteer information to demonstrate their commitment to sustainability and transparent remuneration. However, these disclosures are compiled by different teams that don’t necessarily work together. All too often, this leads to disjointed reporting, which has an impact on your story.

I would like to encourage you and your sustainability and HR/remuneration teams to start an ongoing dialogue and to understand each other’s agendas so that when you ‘Tell’ your story to your stakeholders they get what you stand for, what matters to you and where you’re at with your priorities.

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In this episode of my ‘PAYING FOR GOOD’ podcast, you will learn:

• the prerequisites of a Responsible Reward strategy
• the five steps to tie remuneration and sustainability
• how to start thinking beyond paying for strategy.

Your action takeaway

Our special guests Seymour and Blair encourage you to follow up this episode by reading their materials and urging your boards to incorporate the topic of Responsible Reward in their discussions.

Responsible Reward is not tomorrow’s problem, it is today’s. So now is really the time to act. If you don't focus on it, you're just going to be left behind.

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In this episode of my PAYING FOR GOOD podcast, you’ll learn:

• What employees are likely to do when they better understand where and how their pension is invested.

• How to adapt your organisation’s pensions messaging so that pensions become today’s concern to solve local and global sustainability goals as opposed to a hypothetical life in a distant future.

• About the ‘Make My Money Matter’ campaign calling for ‘pensions with intention’ to build a better world. It’s spearheaded by Richard Curtis, the famous screenwriter, and it’s for you whether you’re an employee, employer or investor.

Your action takeaway

After listening to this episode, Caroline would like to encourage you to support the ‘Make My Money Matter’ campaign in one of the following ways:

• If you’re employee, demand a pension to be proud of from your employer.
• If you’re an employer, align your pension with your purpose and values, in line with Responsible Reward principles.
• If you’re an investor, put people and planet alongside profits.

This is the last episode of this first series of the "PAYING FOR GOOD" podcast. A second series will be released later in the year.

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