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A Quick Guide to Changes of the Company Amendment Bill and the JSE Amendments to Schedule 14 and the Impact on King IV Principle 14

Details: Category: News Articles

Insights by Dr Chris Blair

Recent legislative changes, particularly the Companies Amendment Bill 2024 and amendments to the Johannesburg Stock Exchange (JSE) Listings Requirements, have introduced significant alterations to corporate governance and remuneration policies. King IV Principle 14 emphasises fair, responsible, and transparent remuneration practices to align with strategic objectives and ensure positive outcomes in the short, medium, and long term. The amendments affect the preparation, presentation, and reporting requirements related to executive remuneration, necessitating adjustments in how companies approach their remuneration policies and reports.

But why are these changes Important for Companies and Organisations?

These amendments underscore the importance of transparency and accountability in corporate remuneration practices. The changes are crucial because they:

Promote shareholder engagement: By mandating companies to present their remuneration policies and reports for shareholder approval, the amendments strengthen shareholder influence over executive pay.

Ensure compliance with corporate governance: The alignment with King IV’s principles emphasises fair and responsible remuneration, fostering a sustainable and ethical corporate environment.

Reduce regulatory duplication: The JSE amendments ensure that matters related to remuneration are adequately addressed through legislation rather than multiple regulatory avenues, creating a more streamlined compliance process for companies.

What are the detailed changes and how can Companies address them?

DELAYING THE CHARGING OF EMPLOYEES CAN ROCK THE LABOUR LAW TIGHTROPE

Details: Category: News Articles

Too many employers make the mistake of unnecessarily delaying the charging of employees for misconduct. Failing to discipline employees timeously can be found to be diluting the seriousness of the offence. In addition, the longer the delay between the incident and the charging of the accused, the more likely it will be that important evidence is lost. This is because workplace witnesses might leave the employer or might forget what exactly happened. Also, evidentiary documents and video evidence can be lost. This can result in a serious weakening of the employer’s case.

In the case of IMATU obo Dias (Lex Info, 30 August 2024. Case number C487/2021) Ms Dias was fired for dishonestly bypassing the water meter (on her property) installed by her employer.

However, she was charged five years after he alleged bypass incident, and she flatly denied that it had been she who had bypassed the meter.

Mastering peak season with agile workforce solutions in the FMCG sector

Details: Category: News Articles

By Eleni Fourie, Corporate Sales Executive at Workforce Staffing

26 September 2024

The Fast-Moving Consumer Goods (FMCG) space sees the movement of everyday essentials with short shelf lives, which as a result requires a well-functioning supply chain from procurement to retail. As this fast-paced sector prepares for peak shopping periods such as Black Friday and the holiday season, the ability to swiftly scale operations and maintain seamless execution is essential.

During peak seasons, FMCG companies face the dual challenges of increasing customer demand and maintaining operational efficiency, all while safeguarding brand reputation. To succeed during this critical period, partnering with a Temporary Employment Services (TES) provider ensures that businesses secure the right manpower, skills, and operational flexibility to stay ahead.

Navigating Chaos: Innovative HR Performance Management in Point-of-Sale Warehousing and Logistics for VUCA Business Environments

Details: Category: News Articles

In today's fast-paced business world, change is the only constant. Organizations face increasingly volatile, uncertain, complex, and ambiguous (VUCA) environments that challenge traditional Human Resource (HR) performance management practices. These traditional approaches, characterized by linearity and predictability, often fall short in addressing the dynamic nature of modern business environments. As a result, there is a growing recognition among industry leaders of the need for innovative HR performance management paradigms that can better navigate the complexities of today’s organizational dynamics.

Investigation is an Art and a Science

Details: Category: News Articles

In the case of G4S Secure Solutions vs Mlotshwa (Lex Media. 14 August 2024. Labour Court case number D267/2021) the employee was fired for causing an accident due to reckless driving. Despite the fact that the employee admitted to driving during rainfall with one hand on the wheel while feeling tired, the Labour Court upheld the CCMA’s unfair dismissal decision and reinstatement order.

It appears that the reason for this was that the employer had been unable to prove that the employee’s tiredness had been the cause of the accident. Also, the employee’s reason for the collision was that the vehicle had hit a puddle of water. It appears that the employer had neither been able to disprove this excuse nor even to deny that the vehicle had hit a puddle.