Non-executive directors (NED) report 2020
Practices and fees trends report
Overview
SA’s boards are under immense pressure to continuously transform on many levels, in the face of socio-political and economic uncertainty, a volatile market, digital disruption, and increasing demands from shareholders and other stakeholders.
The South African economy is experiencing low growth, high levels of unemployment, and persistent inequality. The country needs growth reforms that promote economic transformation, support labour-intensive growth, and create a globally competitive economy. Boards are centrally placed to drive the required shift.
Leila Ebrahimi, Director in PwC’s People and Organisation department, Co-lead of the Reward practice, and Editor of the Non-executive directors: Practices and fees trends report, says:
“Against this backdrop of uncertainty and constant change, companies are being asked to take the lead in some of society’s most complex and challenging issues. From seeking action on climate change to threats of disruption to the workforce, stakeholder expectations are increasing, and some companies are responding."
“The private sector has an important role to play, together with government and the public sector, to inspire the productivity and innovation which we need to build the globally competitive economy which we aspire to. But growth must be inclusive — within our country, high income inequality continues to pose a risk to economic growth.”
It is evident that there is a greater awareness of this issue, and a move to action. A good example is the anticipated proposed amendments to the Companies Act, which are expected to introduce a mandatory disclosure of the wage gap.
In this report we set out some thinking around what boards should be focusing their energy and attention on in order to play their part in this transformation.
Register here to download theNon-executive directors report 2020
About People and Organisation, Reward
The PwC Reward practice consists of 18 dynamic professionals, predominantly made up of admitted attorneys, chartered accountants and reward professionals with deep strategic remuneration advisory experience across all industries.
Our team is agile and diverse, allowing us to deliver bespoke remuneration solutions to boards, which are founded on strong governance principles and speak directly to the strategy of your business. We leverage on our established relationships, wide presence within the South African market, and on our global network to ensure that we are internationally relevant, but South Africa focused.
We believe that for inclusive growth to be achieved in South Africa, remuneration structures should reward meaningful innovation and growth delivered by executive teams, while being rooted in fairness for all employees.
