It is the Group’s policy to abide by all laws and regulations in the markets where it does business and to manage its business to achieve superior returns for its shareholders, offer rewarding careers for its employees and build mutually beneficial relationships with its customers and suppliers by holding constructive engagement in the communities where it operates. The Group has a comprehensive set of written policies to help ensure compliance with these standards. Further information on the Group's efforts on environmental, social, community and human rights matters as well as our anti-bribery and anti-corruption controls are outlined in more detail in the Directors’ report.
The Board acts to promote the success of the Group for the benefit of its members as a whole. A summary of key aspects of the Board’s engagement to achieve these ends is outlined below:
| Stakeholders | Board’s engagement |
|---|---|
| Shareholders | Review and approval of strategy; annual budgets; five-year plans; major capital expenditures and investments; major acquisitions or divestitures; capital structure; and oversight of actual operating and financial results. |
| Employees | Oversight of management succession and development; diversity; employee morale; and review and approval of employee compensation and incentive plans. |
| Customers and suppliers | Oversight of the performance of key products and markets; product quality; customer retention and new customer acquisition; and compliance with industry standards. |
| Environment and community | Oversight of offices’ local engagement; carbon footprint; and review and approval of charitable contributions. |
The Board considers the outcomes of the above stakeholder engagements and makes decisions that are in the long-term interests of its members. Examples of decisions made during the year are provided in further sections below in the Strategic Report. The Group is governed directly by its principal shareholders who are represented on the board of directors. Employees and former employees who own interests in the Group have specified contract rights and a representative that must approve any alterations to such rights. The board reviews and approves the Group’s policies and monitors compliance through periodic management reports and the internal audit function. These activities are assisted by three board committees, all of which are chaired by independent non-executive directors: Audit and Risk Committee; People Committee; and Global Compliance Committee.
The Group holds frequent business and operations updates from the CEO, senior management and regional leaders for the employees in person and through virtual townhalls providing the latest information about performance including progress against the Group’s financial targets. In the United Kingdom, this is reflected through the Group’s Gold accreditation under the "Investors in People" scheme. Staff are also consulted on a periodic basis through an employee engagement survey.