Once thought of primarily in terms of cost, people are now being valued as rich sources of talent, skill and diversity, which are critical for success. The sophistication of the South African financial system, combined with growth in the environment, however has put significant strain on banks to recruit and retain the best talent
Scrutiny of executive pay is now greater than ever as a result of the economic downturn combined with public anger over the role played by excessive levels of remuneration in the collapse of the global financial markets. Globally, there is an increased focus on the need for robust governance processes around executive remuneration coupled with the requirement for transparency. King III also echoes the need for greater governance pertaining to executive remuneration. Our executive reward specialists at PwC offer a wealth of experience in this area and work closely with clients to offer practical, multi-disciplined approaches to the complex challenges faced by businesses today.
The future of financial services globally will not be like the past. A new financial order requires different talents and leadership. It also requires a shift in culture, rewards and career progression that will embed these changes within the organisation. Our financial services human resources team works closely with clients to ensure that key aspect of talent management, including recruitment, retention and reward, reflect and support the overall strategy of the business.
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