Tesco 2015 Annual Report Download - page 71

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Considering colleagues’ views
The Committee does not consider that it is appropriate to consult colleagues directly when developing the Directors’ Remuneration Policy.
A significant portion of our colleagues are shareholders so are able to express their views in the same way as other shareholders.
The Company undertakes an employee engagement survey, which occurs annually across Tesco’s global operations and semi-annually for
colleagues in the UK. This survey asks for feedback and comments on many aspects of employment with Tesco, including employee reward
and benefits. This insight, combined with feedback gleaned from social media channels, forms a key part of shaping future plans
and taking action to improve.
The Committee reviews information regarding the typical remuneration structure and reward levels for other UK-based employees to provide
context when determining executive remuneration policy.
Considering shareholders’ views
The Committee believes that it is very important to maintain an open dialogue with shareholders on remuneration matters. The Committee
regularly consults significant shareholders regarding potential changes to remuneration arrangements and the views of shareholders are
important in determining any final changes. Going forward, the Committee will continue to liaise with shareholders regarding remuneration
matters more generally and Tesco arrangements as appropriate. It is the Committee’s intention to consult major shareholders in advance
of making any material changes to remuneration arrangements for Executive Directors.
Approved by the Board
5 May 2015
Deanna Oppenheimer
Chair of the Remuneration Committee
69Tesco PLC Annual Report and Financial Statements 2015
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