Vodafone 1998 Annual Report Download - page 30

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Annual Report and Accounts 1998 - Directors Information - Report of the Directors
employees, irrespective of their length of service, to acquire Vodafone Group Plc shares on an advantageous basis. These
schemes are highly regarded by staff and over 50% of staff currently participate in one or both of them.
● Vodafone Group Profit Sharing Scheme - This enables staff to contribute up to 5% of their basic salary each month
to buy shares in the Company. Subject to agreeing that the purchased shares are held for at least two years by the
Trustees or in a PEP, for each share the employee buys the Company buys a matching share for the employee. The
shares paid for by the Company are not subject to income tax on their value, provided the employee leaves them with
the Trustees for three years.
● Savings Related Share Option Scheme - This enables staff to acquire shares in the Company through monthly
savings of up to £250 over a three or five year period, at the end of which they also receive a tax free bonus. The
savings and bonus may then be used to purchase shares at the option price, which is set at the beginning of the
savings contract and usually at a discount to the then prevailing market price of the Company's shares. Invitations to
participate in this scheme are normally made annually.
In addition to the two schemes just described, the Company also has two discretionary share option schemes. The directors
have decided to use these schemes to award share options to all staff on the Company's payroll on 1 July 1998. These
special 'Millennium Options' will be granted in July 1998 and will be exercisable from July 2001.
Employee education, training and development
Continuing education, training and development are important to ensure the future success of the Group. Policies have been
adopted to assist all employees to reach their full potential and a wide variety of schemes and programmes are offered,
aimed at ensuring that relevant education, training and development opportunities are available. Many courses are provided
by the Group's Training Services department, which has well equipped technical and development training facilities and a
broad range of expertise.
The Group, as a Charter Member of the Duke of Edinburgh's Award Scheme, has established a sponsored scheme for all
employees of Award Scheme age to encourage young employees to develop their confidence and important skills such as
communication, planning and working in teams. A programme of business related further education is also sponsored by the
Group and programmes exist to help employees meet the training and qualification requirements of their chosen professional
institution, thereby continuing to raise the existing professionalism of the Group.
Employment policies
The Group's businesses operate progressive employment policies and all vacancies are filled on the basis of individual
competence, experience and qualifications. Employees at all levels and in all companies are encouraged to make the
greatest possible contribution to the Group's success. Overseas, the Group's employment policies are adapted as necessary
to reflect the legal, cultural and employment market requirements of the country concerned.
Equal opportunities
The Group operates an equal opportunities policy. All employees accept the commitment within this policy that the Group will
not allow discrimination, pressure to discriminate or harassment by staff or others acting on the Group's behalf, in respect of
sex, race, marital status, nationality, disability or religious or political beliefs.
The disabled
The directors are conscious of the special difficulties experienced by the disabled. In addition to giving disabled people full
and fair consideration for all vacancies for which they offer themselves as suitable candidates, efforts are made to meet their
special needs, particularly in relation to access and mobility. Where possible, modifications to workplaces have been made to
provide access and, therefore, job opportunities for the disabled.
http://www.vodafone.com/download/investor/reports/annual98/directorsinfo/reportdirectors.html (5 of 6)29/03/2007 23:06:35