COURSE OVERVIEW

Corporate Governance is about the exercise of ethical and effective leadership by the governing body or a decision making and the process by which decisions are implemented. The concept is not new and as old as human civilization. Since governance is the process of decision making and the process by which decisions are implemented, an analysis of governance focuses on the formal and informal actors involved in decision making and implementing the decisions made and the formal and informal structures that have been set in place to arrive at and implement the decisions. HR governance is the act of strategic committee board overseeing HR function and governing related investments to optimize performance, fulfill fiduciary and financial responsibilities, mitigate enterprise HR risk, align the function’s priorities with those of the business and, enable HR executive decision making. ICDRC defines five core elements in an HR function’s system of governance as:

1. Structure and accountability
2. Effective Councils
3. Philosophy and operating principles
4. Core Management activities
5. Performance Monitoring

Critical to the future success of any organization, are issues such as talent management, succession planning and executive compensation. Human Resource and compensation committees need to find new ways to align executive pay to business strategy with a focus on driving long-term performance, corporate profitability, and employee satisfaction. Effective human resource policies and practices are key to an organization’s ability to create value and deliver strategic priorities.

Dealing with managing the human element of the business, one needs to be able to analyze policy, procedures, agreements and conditions of employment that are applicable in the workplace as well as implementation of applicable labor legislation, job descriptions, recruit staff, selection panels and employment contracts and take on the mantle of responsibility to optimize and maintain efficiencies surrounding these policies. It is essential that adequate measures are in place to attract and retain the required skills. In order to meet the strategic objectives of a high-performance organization, the remuneration philosophy is positioned to reward exceptional performance and to maintain. In applying the remuneration philosophy, a number of principles are followed:

1. Pay for performance:

Performance is the cornerstone of the remuneration philosophy. On this basis, all remuneration practices are structured in such a way as to provide for clear differentiation between individuals with regard to performance. It is also positioned so that a clear link is maintained between performance hurdles and the company’s strategy.

2. Competitiveness:

A key objective of the remuneration philosophy is that remuneration packages should enable the Group and its businesses to attract and retain employees of the highest quality in order to ensure the sustainability of the organization.

3. Leverage and alignment:

The reward consequences for individual employees are as far as possible aligned with, linked to and influenced by:

–Sustainable performance of the company as a whole;

–The performance of any business unit or support function; and employee’s own contribution.

4. Consistency and fairness:

The reward philosophy strives to be both consistent and transparent. Where there is differentiation between employees performing similar work, the differentiation is required to be fair, rational and explainable.

5. Attraction and retention:

Remuneration practices are recognized as a key instrument in attracting and retaining the required talent to meet corporate objectives and ensure its sustainability over the long term.

6. Shared participation:

Employee identification with the success of organization is important owing to the fact that it is directly linked to both organizations and individual performance.

Course Objective

• Oversee development and maintenance of effective human resource policies and procedures.

• Govern the implementation of applicable labor legislation.

• Govern and oversee the facilitation and monitoring of disciplinary policy, process and procedures.

• Institute performance evaluation committees and manage the performance evaluation process and disciplinary policies, actions and hearings as well as employment contracts.

• The strategic nature of HR and Corporate Strategy.

Personal Benefit

Upon completion of this course you will be able to understand and deal with the followings:

• Handle policy and procedures on employment equity, skills development, grievance procedures, performance evaluation, and remuneration negotiations and maintain an effective human recourse policies and practices.
• Understand the developments of corporate governance codes in relation to HR
• Govern and be able to analyze the process of recruitment, job descriptions, holding selection panels and employment contracts.
• The corporate governance codes that have been most influential globally
• Understand the terms and conditions of employment including start date and probation period, duration of employment, remuneration and other benefits and deductions.
• The roles that shareholders play in companies and the development of corporate governance.
• Articulate performance evaluation policy and procedures, performance evaluation moderating committees and feedback, institute and manage the performance evaluation process.
• Understand the characteristics of corporate governance codes and the mode of operation.
• The different approaches that may be used for socially responsible (ethical) investment.

Training Methodology

We at ICDRC talent solutions will work with the participants to create cultural and intercultural effectiveness to understand diversity. This will be achieved through a highly interactive presentation which will include several management games, paper-pencil exercises, activities, role plays, videos, and robust practice sessions. You get an opportunity to discuss, share, and learn from the ideas with other industry participants as well. Institute of Corporate Directors Research Center talent solutions follows the approach of Do-Review-Learn-Apply. Participants should end the workshop with a clearer sense of the options, constraints, opportunities and priorities in considering the next steps towards Corporate Governance Codes and its applicability to Human Resource. A great strength of the Institute of Corporate Directors Research Center training approach lies in the diversity of opportunities it provides for participants to learn. Those who learn most by doing and sharing can benefit from the innovative range of participatory exercises and case studies that this course will offer.

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