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Summary of our remuneration structure
Purpose and link to Strategy
Operation
Guaranteed package
(GP)
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To attract and retain the best talent.
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GPs are reviewed annually in July and delivered in
12 payments.
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Reflects the individual’s competence and skills,
and the scope and nature of the role.
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Internal and external equity.
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Provides competitive pay and rewards
performance.
Short-term incentive
(STI)
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To drive a high-performance culture.
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Motivates and rewards achievement of
business and individual performance.
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Keeps employees focused on the defined
business imperatives.
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The financial measures are designed to both
drive our growth strategies while also focusing
on improving operating efficiencies.
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Variable – usually paid in cash in June each year
for performance over the prior financial year.
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Directly linked to both business and individual
performance.
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Reviewed annually to ensure measures and
weighting drive the right behaviours and support
the business strategy.
Long-term incentive
(LTI)
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Drives sustainable longer term performance.
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Retention of key skills by linking performance
to long-term value creation.
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Encourages loyalty and ownership, by aligning
the interests of executives to those of the
Group and its shareholders.
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Wealth creation.
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Variable in the form of forfeitable shares which
vest over a three-year period and dividends.
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Reviewed annually to ensure measures and
weighting drive the right behaviours and support
the business strategy.
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Depending on role, a varying percentage of the
award vests based on the achievement of
company performance targets.
Retirement funding
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To remain competitive in the market.
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Employee financial security.
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All contributions are included in the GP.
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Both the pension and provident funds are
defined contribution funds.
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Flexible contribution rates.
Flexible benefit
programmes
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Our flexible benefit programmes offer
employees a variety of choices to meet
personal needs and position us as an
employer of choice.
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Integrated approach to drive employee
engagement.
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Costs are included in GP.
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Provide quality health and wellness benefits.
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Financial protection in the event of illness,
disability or death.
Recognition
programmes
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Programmes designed as a platform for
employee recognition.
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Formal recognition programmes that recognise
employees for living the Vodacom Way and
focusing on customer experience.
Other programmes
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Position Vodacom as an employer of choice.
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Access to lifestyle benefits such as staff discounts,
preferential insurance rates, etc.
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Cellphone benefits.
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Maternity and paternity leave benefits.
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Annual executive health checks.
Our performance
Our business
Governance review
Administration
Overview
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