Qantas 2013 Annual Report Download - page 86
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84
Directors’ Report continued
FOR THE YEAR ENDED 30 JUNE 2013
Annual Incentive
also referred to
as the Short Term
Incentive Plan
orSTIP
(continued)
What were the STIP measures for the year ended 30 June 2013?
Strategic Objective Performance Measures Scorecard Weighting Comment
1. Delivering sustainable
returns to shareholders
»Underlying Prot Before Tax
(50% weighting)
»Operating cash ow to net
debt (10% weighting)
60% The STIP scorecard is
heavily weighted to nancial
performance.
Underlying PBT is the key
budgetary and nancial
performance measure for the
Qantas Group and therefore
it is selected as the primary
performance measure under
the STIP scorecard.
50 per cent of the total STIP
scorecard is determined based
on Underlying PBT performance.
2. Safety is always our rst
priority
»People and operational
safety
10% As safety is always our rst priority,
the STIP scorecard includes an
assessment of both operational
and people safety.
In addition, the Board retains
discretion to modify the total
STIP scorecard outcome to
reect the Group’s overall safety
performance.
3. Building on the strong
domestic business
»Domestic market share
»Unit cost
»Punctuality
»Customer Experience – NPS
»Milestones around key
transformation initiatives
10% To support the strategic initiative of
“building on the strong domestic
business”, STIP targets were set
for key measures of nancial and
operational performance across
both the Qantas and Jetstar
domestic businesses, as well as
milestone targets for key business
transformation initiatives.
4. Transforming Qantas
International
»Strengthening networks
and strategic alliances
»Unit cost
»Customer Experience – NPS
»Qantas Frequent Flyer
membership growth
10%
To support the strategic initiativeof
“transforming QantasInternational”,
STIP targets were set across
key measures of nancial and
operational performance in the
Qantas International business, as
well as strategic targets around
strengthening our network and
airline partnerships.
5. Growing
Jetstar in Asia
»Jetstar Asia Underlying EBIT
»Customer Experience – NPS
(for Asian based Jetstar
branded airlines)
»Key business milestones for
Jetstar Japan, Jetstar Pacic
and Jetstar Hong Kong
10% To support the strategic initiative
of “growing Jetstar in Asia”,
STIP targets were set across
key measures of nancial and
operational performance in the
Asian-based Jetstar branded
airlines, as well as milestone
targets in the set-up and growth
of these airlines.
Remuneration Report (Audited)
c
ontinue
d