Barclays 2013 Annual Report Download - page 95

This section sets out Barclays’ remuneration policy for all employees, explaining the purpose and principles
underlying the structure of remuneration packages, and how the policy links remuneration to the achievement
of sustained high performance and long-term value creation.
Remuneration policy
The Committee formally adopted a new remuneration policy for 2013 as part of the Transform programme. The principles set out in the policy are
set out below and underpin 2013 remuneration decisions and the Committee’s objectives for 2014 and beyond.
Barclays’ remuneration decisions:
1. Support the goal of becoming the ‘Go-To’ bank by attracting, retaining and competitively rewarding colleagues with the ability, experience,
skill, values and behaviours to deliver that goal.
2. Will only reward business results when these are achieved in a manner consistent with Barclays’ values and behaviours:
 Respect: We respect and value those we work with, and the contribution that they make
 Integrity: We act fairly, ethically and openly in all we do
 Service: We put our clients and customers at the centre of what we do
 Excellence: We use our energy, skills and resources to deliver the best, sustainable results
 Stewardship: We are passionate about leaving things better than we found them.
3. Protect and promote shareholder interests by incentivising colleagues to deliver sustained performance and create long-term value through
the delivery of Barclays’ goal. Those decisions will reflect that performance for individuals and in aggregate. Barclays will pay competitively
for high performance but will not pay more than the amount appropriate to maximise the long-term value of the bank for its shareholders.
4. Create a direct and recognisable alignment between remuneration and risk exposure, as well as adjusting current and deferred incentives for
current and historic risk, including malus adjustments, as appropriate.
5. Should be as simple and clear for colleagues and stakeholders as possible – as is the process used to determine them.
6. Ensure that the balance between shareholder returns and remuneration is appropriate, clear and supports long-term shareholder interests.
Remuneration and performance
Adherence to the remuneration policy means that remuneration decisions for all employees across the whole of Barclays are aligned with and
support the achievement of Barclays’ goal of becoming the ‘Go-To’ bank.
This is achieved by linking remuneration to a broad assessment of all aspects of performance. At an individual level, a new approach to
performance assessment was implemented for senior management in 2013 and will be implemented for all employees in 2014. Under the new
approach, individual performance is measured jointly against objectives (the ‘what’) and demonstration of Barclays Values and Behaviours (the
‘how’). This ensures that our Values and Behaviours are firmly embedded in the way we manage individual performance and remuneration.
Furthermore, to ensure clear and direct alignment between individual performance and Barclays’ strategy, all employees are required to align their
2014 objectives to the 5Cs of the Balanced Scorecard – Customers & Clients, Colleagues, Citizenship, Conduct and Company. This was
implemented for senior management in 2013. This will help employees understand how their day to day activities contribute to the overall
performance of the business or function in which they work and, ultimately, the overall performance of Barclays – as represented by the Balanced
Scorecard.
Linking individual performance assessment and remuneration decisions to both our Values and Behaviours and the Balanced Scorecard in this
way promotes the delivery of sustainable individual and business performance and establishes clear alignment between remuneration policy and
Barclays’ strategy.
barclays.com/annualreport Barclays PLC Annual Report 2013 93
Remuneration report
Remuneration policy for all employees
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