Reward Awards 2021

2021 Reward Project of the Year Nomination

In this category, we recognise an individual or team who have been responsible and actively involved in the development and implementation of a new Reward Project that:

  • May be of a short-term or long-term nature;
  • Has a procedural, operational or strategic impact on the organisation;
  • Has an impact horizon range from 2 months to more than 12 months; and
  • Has been implemented with sufficient time to report and demonstrate the actual business benefit.

The individual or team would have been responsible for a Reward Project which demonstrates innovative and relevant reward practices that support the unique business environment and business strategy and contributes towards the organisation’s objectives and success (financial or humanitarian). The award is open to all organisation sizes – from multi-nationals to SMMEs – and this is taken into account through the judging process.

The global pandemic has had an astonishing impact on businesses and individuals since March 2020, challenging employees’ ways of working and their Total Reward solutions. Although these challenging times may result in the re-evaluation of previously planned Reward initiatives, it also provides an opportunity for innovation in a field that very seldom lends itself to significant change. As a result, we will also recognise novel and creative Reward interventions that have gone above and beyond in limiting the negative impact to businesses and employees. The nomination could be for an individual, or a team, and must demonstrate the impact the intervention had on the business.

The winners will not only receive the acclaim and recognition from their peers, but will also receive a cash prize of R30 000 for the 1st prize, R20 000 for the 2nd prize and R10 000 for the 3rd prize.

Key aspects of the nominated project that are considered include:

  • The impact of the project;
  • The quality of implementation; and
  • Support of and contribution to the organisation’s strategic objectives.

Nominations are now closed.


2021 Remuneration Report Award Nomination

This award recognises organisations for the alignment of their remuneration reporting and disclosure, against the key principles of the King IVTM governance guidelines which exemplify fair, responsible and transparent policy and practice.

Evaluation

The judging panel will evaluate nominations against the King IV principles, and the report worthy of an award will demonstrate the following:

  • Contextual setting to the remuneration report; background statement; demonstration of principles of remunerating fairly, responsibly and transparently;
  • Remuneration committee - Description of Remco responsibilities,  decisions & composition;
  • Remuneration philosophy - Summary of the philosophy and general principles applied which supports the philosophy;
  • Remuneration policy - Details of the policy including the various components of remuneration;
  • Base Pay - Description of how it is set and increases awarded;
  • Shareholder engagement - Description of the voting results and the shareholder engagement;
  • STI - Description of the plan, earnings potential and KPIs (as applicable);
  • LTI - Description of the plan(s), earnings potential and performance conditions (as applicable);
  • Retention payments - Description of payments/plans (if applicable) which deal specifically with retention as opposed to incentives;
  • Remuneration paid - Details of Single Figure of remuneration paid during the year and outcomes from KPIs/performance targets;
  • Share plan dilution – Overall limits, headroom available etc.;
  • Minimum Shareholding requirements – Including actual shareholding;
  • Employment contracts - Key features per relevant individual/role; and
  • Non-Executive directors - Description of fee structures and payments made.

Placing
We will be recognising the top 3 nominated organisations (through third, second and first place) and celebrating the success of those who are building tomorrow’s total reward practices today.

Nominations are now closed.


SARA Reward Awards - Previous Winners