Glucode Glucode Handbook

Remuneration

General

The purpose of this policy is to provide guidance on how remuneration work at Glucode. It articulates our policies, philosophies, and processes, and set by the Remuneration Committee and provide direction on how remuneration should be approached and addressed on an company-wide basis.

We seek to align Glucode’s policies, philosophies, and processes to the vision of the Company – which is to deliver top tier financial results and be recognised by all stakeholders as the best digital consultancy specialising in mobile app development in South Africa. We attract the best talent and are recognised as a great place to work.

Our rewards philosophy, strategy, policy, and practices are to:

  • Align strategic business performance with shareholder interests
  • Provide a competitive remuneration offering to attract and retain talent that enables the execution of our business strategy
  • Reward and motivate winning performance across all levels in the company
  • Build a strong foundation of fair and responsible remuneration

Info

The Remuneration Committee (REMCO) is the body responsible for the governance of remuneration.

Scope

This policy applies to all Glucode full-time employees.

Objective

Glucode’s remuneration policy aims to ensure that we attract and retain talent required to deliver business goals and results. To this end, the policy is based on the following key principles:

  • To support our vision by enabling the attraction and retention of the right talent

  • To directly correlate with growth plans, financial and overall performance of our business

  • Remuneration should be reviewed and benchmarked from time to time to ensure that we remain competitive in diverse markets, considering similar industry types, skills scarcity, skills required for the optimum operation and requirements of the business

  • Remuneration should support the company’s strategy, and be consistent with its conduct and ethics of fairness and equality

  • Should motivate, drive deeper engagement, enable performance, and allow for differentiation in rewarding high performers

  • Individual contributions based on role and responsibilities should have a direct bearing on levels of remuneration

Remuneration Strategy

  • We believe in remunerating you competitively, aligned to the external market, provided performance goals are achieved. Our roles are benchmarked to a competency framework according to the skills and responsibilities required for a role.

  • Remuneration decisions are made fairly through a robust and transparent process.

  • We aim to pay additional rewards to our employees who consistently fully meet performance and potential expectations .

  • Our remuneration practises mitigate against any unjustifiable differences in remuneration between employees in the same role (assuming same qualifications, same level of experience and same performance), due to race or gender.
  • We strive to promote the principle of internal equity and take account of market trends when determining the remuneration levels of our employees.

  • We aim to remunerate people in line with their level of responsibilities needed for a role also taking into account what market trends are remunerating for the same level of position with the same responsibilities.

  • We review and adjust remuneration and rewards for the entire company annually in March of each year based on published Inflationary numbers and CPI numbers for the previous tax year.

  • Remuneration adjustments and rewards are not provided to poor performers. Poor performance is identified timeously and dealt with appropriately.

Total Remuneration

The principle of total remuneration includes your base remuneration, recognition, benefits, short-term rewards as well as long term rewards.

Total Compensation makeup:

  • Base Remuneration and Benefits
  • Recognition
  • Rewards (Short term and Long term)

We drive the following intangible elements:

  • Strive to create a great place to work
  • Inspire strong leadership and accountability
  • Aim to create a positive work environment which encourages learning, development, and personal growth

Base Remuneration

Your base remuneration comprises of basic salary and benefits and is differentiated based on role, responsibilities, performance, and the size of the company. In determining the appropriate level of base remuneration, the following is taken into consideration:

  • A role profile must be determined based on required skills, competencies, outputs, and behaviours for the role.

  • The role profile fit within the company structure must be determined and an appropriate skill level assigned.
  • Comparisons with external and internal benchmarks to ensure equity and fairness
  • Appropriate market percentiles should be applied based on skills, experience, role responsibilities, affordability, and market competitiveness.

The composition of base remuneration includes both benefits such as (medical aid, group life insurance) and discretionary benefits (e.g. travel allowance).

Recognition

The recognition and the celebration of achievement is a central tenet of our people practice.

Although the attainment of business results is paramount, we are committed to recognise and reward the following practices and behaviours:

The manner in which we interact with our clients, colleagues, and various business partners;

  • Achievement of business goals through high performance and innovation;
  • Living the Glucode values

Employee recognition for the above is conducted monthly and quarterly basis.

We have the Hero of the Month recognition where each team will receive a survey to nominate their “Hero of the Month”.

We also have the Star Hero of the Quarter recognition that will be selected from the Hero of the Month nominees. Refer to Recognition>Hero of the Month and Star Hero of the Quarter for more details.

We also recognise you for Long Service (5 Year and 10 Year)

  • This recognition symbolises the Company’s gratitude and appreciation to employees for their commitment and diligent work over the years and the award afforded to qualifying employees. Refer to Long Service for more details.

Benefits

The following benefits are provided to all full-time employees.

  • The Fitness Watch Benefit is there to encourage healthy living. Refer to Benefits>Fitness Watch for more details.

  • The Glucode Medical Scheme is an benefit extended to full-time employees. It is mandatory for all Glucode Full-time employees to belong to a Medical Aid Scheme. Refer to Benefits>Medical Scheme for more details

  • The Glucode Life Scheme is an benefit extended to full-time employees. Refer to Benefits>Life Scheme for more details

  • The Cellphone Allowance is there to help you perform your duties more effectively while working remotely. Refer to Benefits>Cellphone Allowance for more details.

  • The Personal Device Insurance is provided because we know you use your personal device for work from time to time.- Refer to Benefits>Personal Device Insurance for more details.

  • The Home Office Allowance is there to assist you to have a comfortable and productive remote working environment. Refer to Benefits>Home Office Allowance for more details.

Rewards

Short term rewards

We want to reward you if Glucode performed well in the short term.

We provide two Bonuses during each if certain goals are met. Refer to Rewards>Bonuses for more details.

Long term rewards

We want to reward people for being committed to the company for a long period of time and perform consistently well. We have various Share Incentive Schemes with different eligibility criteria. Refer to Rewards>Share Incentive Schemes for more details.

Job Classification

The job classification method is based on the job skills and complexities. Each employee is ranked on a competency framework based on key skills, competencies and responsibilities tied to a role. An employee’s role is linked to a skill level/grade that best matches the class description and is aligned with the occupational level.

Remuneration Benchmarking

Market benchmarking is conducted vigorously by accessing information from different platforms where annual salary surveys are conducted. This data is aggregated through these various platforms such as Indeed job site, Pnet jobsite, Career Junction jobsite, LinkedIn, PayScale, OfferZen (the most widely used platform for active jobseekers) and published market information on the South African Tech market.