41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 136
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THE UNITE GROUP PLC | Annual Report and Financial Statements 2022
REMUNERATION COMMITTEE continued
Workforce remuneration considerations
The Committee continues to monitor pay and practices
for other senior executives and more broadly across the
wider workforce when considering the remuneration of
Executive Directors. The Group People Director is invited to
attend Committee meetings on a regular basis to provide
updates on workforce initiatives and to offer an employee
perspective to the Committee’s deliberations.
This year the Committee has been particularly mindful
of ongoing cost-of-living pressures and has supported a
range of management proposals to help those employees
most impacted by rising prices and interest rates. In August
2022, around 90% of employees received a one-off £500
payment. Originally intended as an early release of the 2022
annual bonus scheme, it was subsequently agreed that this
amount would be paid in addition to the normal bonus to
recognise the excellent work of our employees. Additionally,
and as noted above, the available increase in the 2023
salary budget was targeted towards those colleagues
most impacted by inflationary pressures, with over 95% of
colleagues receiving a salary increase of 5% or more, and
with planned increases for the Executive Directors being
postponed until a more appropriate time.
In November 2022, our Designated Non-Executive Director
for Workforce Engagement facilitated a discussion at
the Culture Matters employee forum on the topic of
remuneration. Further details on the session, feedback
received and subsequent actions is included on page 102
and 138.
We have continued to review and disclose both the
statutory CEO pay ratios and additional ratios looking at
both fixed pay and pay excluding long-term incentives.
This year, the headline ratio of CEO total remuneration to
the median employee, has fallen from 56:1 to 33:1, driven
primarily by the lower bonus outcome for 2022 and the
nil estimated vesting under the 2020 LTIP. The Committee
remains satisfied that the year-on-year fluctuations mainly
reflect differences in the structure of pay at different levels
of seniority.
Finally, details of our gender diversity and pay gaps across
the Group are provided on pages 63 and 155, with the
Committee pleased to note a further modest improvement
in both the mean and median gender pay gaps in 2022.
The Committee also noted from the analysis the increase
in female representation in the upper quartile this year,
and took this as evidence of the Group’s 2022–25 diversity,
equity, inclusion, belonging and wellbeing strategy starting
to produce positive results. As for most companies, there is
still work for Unite to do in this space and our 2022 Gender
Pay Gap Report therefore references an updated action
plan to further progress activity in this area over the shortand medium-term.
Committee changes
Nicky Dulieu joined the Unite Board with effect from
1 September 2022, and is currently a member of
the Remuneration, Audit and Risk and Nominations
Committees. Fees paid to Nicky are in line with the fees
paid to the other Non-Executive Directors, as disclosed
on page 151.
After nine years on the Board, I will be stepping down with
effect from 28 February 2023. I am delighted that Nicky,
who brings with her significant experience in chairing the
remuneration committees of other FTSE-listed companies,
will take over as Chair of the Remuneration Committee at
that time.
Looking ahead
The Committee will continue to monitor market
developments throughout the 2023 AGM season and will
consider the appropriateness of any emerging trends for
Unite. I hope that you find this report a clear account of the
Committee’s decisions for the year; my successor, Nicky,
would be happy to answer any questions you may have at
the upcoming AGM.
Elizabeth McMeikan
Chair – Remuneration Committee
28 February 2023
