2024 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 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. Only projects that meet the highest quality standards will be shortlisted. 
Key aspects of the nominated project that are considered include:

  • The impact of the project (results and success of project, cost versus benefit, organisation’s response, level of innovation, scope and broader impact, etc.);
  • Contribution to and/or support of the organisation’s objectives;
  • The implementation quality (e.g. complexity, controls, governance, etc.); and
  • The quality of the presentation to the judging panel.

Closing date for the 2024 nominations was 16 August 2024.
 

IMPORTANT INFORMATION TO NOTE

  • The closing date/time for submitting nominations is 16 August 2024, by 12-noon.
  • Short-listed nominees will be required to present their Reward Project via a virtual meeting/presentation to an objective and neutral panel of judges on 14 September 2024.
  • Presentation guidelines will be provided to short listed nominees in order for them to be well prepared and to present with confidence.
  • The winners will be announced at the 2024 SARA Reward Awards on 2 November 2024.
  • All motivations for nominations must be submitted on the official SARA nomination form.
  • This competition is only open to teams based in South Africa.
  • Non-SARA members may participate. An entry fee of R1 000-00 will be charged for entries for organisations or individuals that are not members of SARA.
  • Nominations will be evaluated against strict criteria and high industry standards.
  • It is essential that the project has been fully implemented, and that there has been sufficient time since project completion for the actual business benefit(s) to be properly measured and reported.
  • Consultants are not eligible to be nominated however they are eligible to nominate.
  • HR and Reward Professionals qualify to be nominated.
  • The final winners will be selected by an independent panel of judges, subsequent to a screening and validation process.
  • The ruling of the independent panel of judges for each category will be final and no correspondence will be entered into.
  • The motivation(s) for the nomination must be based on a new practice or program within the organisation which has not been forwarded in previous nominations for the organisation’s team or individual.

2024 Remuneration Report Award

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

This prestigious award considers the content, including the background statement, the remuneration policy and the description of implementation, and the confidence that it leaves with the reader.

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 support the philosophy;
  • Remuneration policy - Details of the policy including the various components of remuneration;
  • Reporting of remuneration policy implementation
  • 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 organisations and look forward to celebrating the success of those who are setting the standard for reward governance and exemplary reporting.
 
Nominations closed on 16 August 2024

SARA 2024 Young Remuneration Professional Award

In this category, we recognise a young Remuneration professional that has achieved success in their careers and/or is seen as a trailblazer by colleagues and peers. The individual nominated must:

  • Be a SARA member;
  • Be 35 years of age or younger;
  • Have achieved success in their careers and/or be seen as a trailblazer by colleagues and peers;
  • Have demonstrated outstanding contributions to the Reward profession over a number of years;
  • Be uplifting the Reward profession; and
  • Be making a marked impact on SARA. 

SARA members are encouraged to nominate professionals that meet the above criteria by 16 August 2024. 

The SARA Executive Committee will adjudicate the winner based on the shortlisted qualifying nominees, and the winner will be announced at the Annual SARA Reward Awards Banquet in November 2024. The winner will receive the acclaim and recognition from their peers, as well as a certificate and trophy.

Nominations closed on 16 August 2024

IMPORTANT INFORMATION TO NOTE

  • The closing date/time for submitting nominations is 16 August 2024, by 12-noon.
  • The winner will be announced at the 2024 SARA Reward Awards on 2 November 2024.
  • All motivations for nominations must be submitted on the official SARA nomination form.
  • Nominations will be accepted for consultant and corporate professionals. 
  • Reward and HR Professionals qualify to be nominated.
  • The ruling of the SARA Executive Committee will be final and no correspondence will be entered into.