Standard Bank and MTN Group Management Services were awarded top honours by the South African Reward Association (SARA) at the annual Reward Awards event on 7 November 2015.
The Reward Awards aim to recognise thought leaders that make a noticeable impact to business through reward strategies and practices that deliver business results and support the objectives of a company.
“Reward professionals ensure that an employer does everything it can to attract, inspire and retain the best possible workforce, while still increasing profits year on year,” says Peet Kruger, executive committee member of SARA, a professional body that promotes and develops the reward profession and practices in South Africa.
The three award categories recognise reward professionals, teams and organisations that have lead the way in promoting and developing the reward profession. Reward includes everything valuable to an employee in relation to his/her employment, including salary, benefits, and their experience of their workplace.
Remuneration Report of the Year Award
Standard Bank was awarded the 2015 Remuneration Report of the Year Award.
Nominees for this category also included Anglo American Kumba Iron Ore, Aveng (Africa) Pty Ltd, Goldfields, Group Five, Impala Platinum Ltd, and Liberty Holdings Ltd.
This award recognises organisations that apply the key reporting and disclosure principles and requirements stipulated by King III. Furthermore, the judging panel considers demonstrated commitments to best practice, and how the company’s approach to remuneration supports the business strategy, good governance and how it aligns the interests of its stakeholders.
Reward Project of the Year Award
MTN Group Management Services was awarded the first prize for the 2015 Reward Project of the Year. Second place went to Aveng (Africa) Pty Ltd, and third place was awarded to Siemens.
Nominees for this category also included ArcelorMittal South Africa, BP South Africa, the Clicks Group, PPS Insurance, and PwC.
This award recognises an individual or team for the development and implementation of a reward project that uses reward practices and principles in a manner that contributes significantly towards the achievement of the organisation’s objectives or success.
Entries for the above Reward Awards are invited annually and judged independently by various experts in the reward industry, using criteria relevant to each award.
Dr Mark Bussin was awarded the 2015 President’s Award.
This award is the prerogative of the President of SARA and recognises an individual that has shaped or significantly contributed to the ongoing development of the reward profession, or has been responsible for the design and implementation of complex reward strategies or programmes that have set the standard for best practice in South Africa or internationally.
The winners of the 2015 awards were announced at the SARA Reward Awards Banquet. The event was sponsored by 21st Century, Remuneration Consultants, and Synntech People Solutions.
For more detailed information on the annual SARA Reward Awards please visit www.sara.co.za
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