OUR GOVERNANCE

Driving Value Creation

Human Resources and Remuneration Committee (HR & REMCO)

Committee purpose and how it contributes to value creation

The Human Resources and Remuneration Committee’s (HR & REMCO) main responsibility is to support the Board in providing independent oversight of:

Recommending to the Board for approval a developed strategy and supporting policies for the acquisition, management, retention, and fair and responsible remuneration of human capital (talent) in compliance with legal requirements, governance standards, and industry best practices
Overseeing the overall governance of human capital management; defining and managing SAICA’s Remuneration and Reward Policy, framework, and strategy; and providing the Board with assurances in these areas

Chairperson

Thandi Thankge

Members of committee in the period 1 January 2024 to 31 December 2024 and attendance

Thandi Thankge (100%)
Tintswalo Mofokeng (100%)
Dheren Singh (100%)

Meeting attendance

100%

Declaration

The committee reports that for the year ended 31 December 2024, it is satisfied that it has fulfilled its responsibilities in accordance with the Companies Act, the Board Charter, the Committee Terms of Reference, King IV^™, and other applicable standards and codes.

Key focus areas and value creating activities for the period under review

Remuneration and Reward Policy and outcomes that support SAICA’s strategic objectives
Annual salary review and short-term incentive payment and recommendation to the Board for approval
SAICA 2024 – 2028 strategy
SAICA’s 2024 Balanced Scorecard’s approval by the Board (including divisional balanced scorecards)

Oversight of HC Strategy implementation, in particular:

Organisational Review Project (Project ReCAlibrate)
Human Capital automation
Talent Management including succession planning
Transformation, Diversity, and Inclusion

Oversight of the strategic interventions in response to the outcomes of the employee engagement survey

For additional information read more on Human Capital Management and remuneration.

Future focus areas 2025

The committee’s 2025 focus will be on the oversight of:

The implementation of the 2025 SAICA Balanced Scorecard
Benchmarking of Board Fees

High-level oversight on HC Strategy implementation, in particular:

The outcome of Project ReCAlibrate
Change management programme to anchor Project ReCAlibrate
Insights-driven organisation (IDO) capability enhancement programme
Diversity, Equity, Inclusion, and Belonging (DEIB) initiatives

Ongoing strategic interventions in response to the outcome of the employee engagement survey
The implementation of Remuneration and Reward, and Performance Management Policy