41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 139
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
Overview of remuneration across the Group
ELIGIBILITY
ELEMENT OF PAY
ELEMENT OF PAY
Salary
Salaries are generally reviewed annually, taking into account Company and
individual performance, experience and responsibilities. As an accredited
Living Wage employer, all of Unite’s employees receive at least the voluntary
living wage rate.
Benefits
Employees across all levels of the business are eligible for the Companyfunded Health Cash Plan and an enhanced Company sick pay scheme. All
employees have free 24/7 access to our employee assistance programme
which provides counselling and support to employees with everyday
situations and more serious concerns including up to 12 face-to-face
sessions per issue per year. Life assurance cover is provided for all eligible
employees at 4 x annual salary and employees can access a range of deals
and discounts through our discount providers. We offer employees 25 days
annual leave a year plus bank holidays and also operate a holiday purchase
scheme to allow employees to purchase up to an extra week of annual leave
each year. Employees can support their chosen charities by participating
in our charity match or give-as-you-earn schemes. We also offer financial
support to our employees through season ticket loans, student rental
discounts and the bike to work scheme and employee service is recognised
with long-service awards.
Pension
All employees can participate in the Unite Group Personal Pension
scheme, with an alternative cash pension allowance available in certain
circumstances. Our pension offering was reviewed and improved with
effect from 1 January 2020, with all employees eligible to receive a Company
contribution of up to 11% of salary, subject to their own contribution level.
SAYE
We encourage all employees to become shareholders in Unite by participating
in the SAYE scheme, under which participants save monthly over 3 years with
the option to acquire shares at a discount at the end of the savings period.
Currently c.15% of eligible employees participate in the SAYE.
Annual bonus – cash
All employees are eligible to participate in the annual bonus scheme,
with outcomes based on both Company performance and personal
contribution. Maximum opportunities, performance measures and
weightings vary by grade; metrics are similar across all levels to support
delivery of our strategy.
Executive Directors
and other senior
leaders
Long-term incentive
Executive Directors and other senior leaders may be invited to participate
in the LTIP each year. Performance conditions are consistent for all
participants, but award sizes vary.
Executive Directors
only
Annual bonus – deferred
Currently only Executive Directors are required to defer a proportion of
their bonus into Unite shares, which supports shareholder alignment.
Shareholding guidelines
While all employees are strongly encouraged to become shareholders
to allow them to share in the success of the Group, currently only Executive
Directors are subject to formal shareholding guidelines (both in-post
and post-exit).
Employees at all levels
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