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Our remuneration philosophy
MTN’s remuneration philosophy is part of an
interlinked, holistic and people-oriented talent
approach, aiming to support current and
evolving business priorities. The philosophy
aims to attract, motivate, retain and engage
the desired talent to execute business strategy
in a sustainable manner over the longer term.
The competitive talent landscape demands
a differentiated reward system, capable of
competitively matching pay for results, delivered
fairly without bias, and flexible yet compliant
across all markets.
In our efforts to achieve our talent objectives,
we apply various approaches, including the
following:
For competitiveness and affordability
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•
Regular review and benchmarking of
reward components.
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Linking short- and long-term incentives to
various performance indicators.
For differentiation and flexibility
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Establishing performance as the basis for
employee reward.
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Customising our reward to address the
varied needs and lifestyles of employees.
For compliance and sustainability
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Continuously striving to apply full
regulatory and legislative compliance in
our markets.
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Regularly auditing and assessing risks,
benefits and compliance of reward.
Our various remuneration policies endorsed
by management and governed by our
remuneration committee guide the decision-
making processes and operationalisation of
all reward matters. It is our intent to deliver a
legislatively compliant system aligned with the
future strategic objectives of the company.
Background
We endeavour to apply the King IV principles
regarding
responsible
and
transparent
remuneration practices. During the year, we
comprehensively reviewed some of our
remuneration policies.
After engaging with the board, we took key
decisions to change our short-term and long-
term incentives and some of our benefits
structures. These reviews were necessitated by
a desire to maintain our competitiveness. The
remuneration committee actively engaged with
various stakeholders.
Key priorities in 2018
Our key focus areas include:
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•
Further review of incentives programmes to
derive a full understanding of the principles
and plan structure.
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Review of existing benefits, particularly for
mobility employees in line with our regular
review of benefits provided by external service
providers.
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•
Review of existing other remuneration-related
policies and governance structures. We are
working towards setting up a governance
platform where employees can easily access
policies remotely.
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•
Promoting employee wellbeing by creating
practices which support this.
Our reward principles
In delivering on our remuneration policy, we
apply the following principles:
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•
Fair pay based on the value of the job relative
to other jobs of similar worth, i.e. internal
equity.
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Performance-based system through short-
and long-term incentives.
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•
Transparent and simplified communication
across
all
levels
including
external
stakeholders.
•
•
Consistency across all operating units,
however,
acknowledging
differentiation
and customisation.
•
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Empowerment of line managers to deliver
effective pay decisions.
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•
Company affordability so as to support the
performanceexpectationsofourshareholders.
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•
Optimal pay structure comprising fixed and
variable remuneration so as to drive the right
focus both in the long and short term.
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•
Values-based and output-driven recognition
of actions aligned to our vital behaviours.
We continuously benchmark our reward
offerings to remain externally competitive. Our
remuneration practices meet the minimum
related compliance requirements.
Remuneration report
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MTN Group Limited
Integrated Report 2017