Tesco 2000 Annual Report Download - page 10

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TESCO PLC
8
Employment policies
The Group depends on the skills and commitment of its employees
in order to achieve its objectives. Company staff at every level are
encouraged to make their fullest possible contribution to
Tesco success.
A key business priority is to provide First Class Service to
the customer. Ongoing training programmes seek to ensure that
employees understand the company’s customer service objectives
and strive to achieve them.
The Group’s selection, training, development and promotion
policies ensure equal opportunities for all employees regardless of
gender, marital status, race, age or disability. All decisions are based
on merit.
Internal communications are designed to ensure that employees
are well informed about the business of the Group. These include a
staff magazine called ‘Tesco Today’, videos and staff briefing sessions.
Staff attitudes are frequently researched through surveys and
store visits, and management seeks to respond positively to the
needs of employees.
Employees are encouraged to become involved in the financial
performance of the Group through a variety of schemes, principally
the Tesco employee profit-sharing scheme, the savings-related share
option scheme and the profit-related pay scheme.
Political and charitable donations
Contributions to community projects and to charity amounted to
£1,485,000 (1999 – £1,301,000). There were no political donations.
Supplier payment policy
Tesco PLC is a signatory to the CBI Code of Prompt Payment.
Copies of the Code may be obtained from the CBI, Centre Point,
103 New Oxford Street, London WC1A 1DU. Payment terms
and conditions are agreed with suppliers in advance.
Tesco PLC has no trade creditors in its balance sheet.The Group
pays its creditors on a timely basis which varies according to the
type of product and territory in which the suppliers operate.
Auditors
PricewaterhouseCoopers have expressed their willingness
to continue in office. In accordance with section 384 of the
Companies Act 1985, a resolution proposing the reappointment
of PricewaterhouseCoopers as auditors of the company will
be put to the Annual General Meeting.
Annual General Meeting
A separate circular accompanying the Annual Accounts explains the
special business to be considered at the Annual General Meeting
on 15 June 2000.
This report was approved by the Board on 10 April 2000.
By Order of the Board
Rowley Ager
Secretary
10 April 2000
Tesco PLC
Registered Number: 445790
directors’ reportcontinued