Rewards and Benefits
Compensation should provide incentives that foster an entrepreneurial and performance-oriented culture and support the firm’s integrated business strategy. Senior executive compensation is closely linked to the achievement of sustainable shareholder returns and it provides appropriate incentives for long-term value creation.
ThomasLloyd’s compensation policy is designed and developed by the company’s Compensation Committee and approved by the Group Executive Board.
Around the world we provide benefits in keeping with the local market, while ensuring that our pay practices are clearly linked to performance.
We regularly benchmark ourselves against our peer group to ensure that we remain at the forefront of employment and compensation practices.
Our benchmarking supports us in developing leading-edge practices and we have introduced a reward strategy as a guide for our companies. It includes:
- Rewarding contribution and achievement rather than tenure
- Performance judged against a realistic number of key areas and objectives
- Communication on the overall value of the total reward package
- Regular feedback mechanisms for assessing views on reward
- Simple and straightforward reward systems
A key criterion in our work is to nurture an open, confident and winning culture, where we are all aligned in working for the ThomasLloyd Group. It’s our job to ensure that people have the opportunity to release their energies in a constructive and focused way. We want our employees to have a clear vision for the business and to foster enthusiasm to drive superior performance. Furthermore, we expect our leaders to engage with their teams and to develop their people.
We strive to match the needs of the organisation and individual aspirations and encourage personal fulfilment. Therefore, success is recognised in ways which are relevant to the individual.
