CORPORATE GOVERNANCE REPORT CONTINUED
How we engage A range of employee engagement mechanisms are in place, including employee surveys, performance evaluations, ESG workshops, newsletters, apprenticeship and graduate programmes, employee assistance programmes, employee conferences and town hall meetings. The Board receives updates at every meeting from the Group Chief Executive, the Group General Counsel & Company Secretary and other senior managers on a range of employee-related matters, including any local issues encountered, health and safety matters and the general health and well-being of our workforce. This was particularly important during the pandemic and more recently during the cost-of-living crisis. The Audit & Risk Committee also receives details of any whistleblowing reports, the steps taken to investigate, and any follow-up actions identified as a result. However, it is the personal interactions that the Board and senior management have that provide the most direct and valuable feedback. Since 2009, the Board has regularly visited the Group’s operating sites, meeting management and employees directly. These visits enable all members of the Board to meet with people directly and because the interaction is between all members of the Board, as opposed to just one or two holding this responsibility, this means that the Board is able to meet with a wider cross- section of our global workforce. It also enables the different experience and perspectives that each of our Board members brings to contribute to engagement, thereby fostering a much broader range of interactions than would otherwise be the case. Reviewing, embedding and managing our culture We embrace a decentralised operating model, and our success hinges on a culture built on respect, fairness, and equality, that empowers our teams locally, fosters open communication, and unites us towards our shared ambitions. Engagement is conducted using a variety of methods, starting within businesses at a local level, complemented by oversight from Head Office, and by the Board engaging directly. The diagram opposite provides a summary. The Board assesses whether the desired culture is being embedded through site visits, employee feedback, internal audit findings and whistleblowing data, and uses these inputs to challenge management where potential misalignment is identified.
During the year, the Board assessed acquisition opportunities, sustainability commitments, capital deployment decisions and the Group’s risk appetite against its strategic priorities, with the aim of ensuring that the Group’s approach remains aligned to delivering long-term growth and value creation. Progress against our objectives is measured through our key strategic indicators. Details are set out on page 11. Employee engagement Our employees are highly valued and skilled and we depend upon their dedication and hard work for the Group’s success. Our decentralised business model relies on the expertise of our teams in different businesses and across different locations. Our strategy recognises the benefits of maintaining our businesses’ individual identities, whilst contributing to the success of the Group overall. The Board therefore considers it most appropriate that engagement activities are carried out directly at a local level, with all feedback received by any member of the Board shared with the rest of the Board. The below summarises why and how the Board and senior management both from Head Office and within our businesses engage, how it influences our strategic thinking, the feedback we receive as to any key concerns, and other factors that affect the day-to-day working environment. Why we engage ■ The well-being, dedication and performance of our people are critical to our continued success as a Group, the products that are delivered to and relationships maintained with customers and, as a result, the value delivered to all of our stakeholders. ■ An engaged workforce can help us achieve our long-term strategic goals. ■ Knowledgeable and well-trained employees help in the continued development of new and innovative products, both for us and our customers. ■ Strong working relations help attract and retain talent. We aim for a well-motivated workforce and recognise that, without their commitment, the Group would not have achieved its various successes over the last several years. This is both in terms of financial performance and our wider contribution to tackling the issues facing the world today, such as climate change and the need to reduce carbon emissions. As such, it is important to the Board that our colleagues know how highly they are valued and that it recognises that our success depends on their continued invaluable contribution to the Group.
The below provides a summary of the Board’s visits over the last three years:
Date
Board member(s) Site
April 2025
Nick Jefferies
CPI, Beacon, Shape Women in Engineering & Operations Seminar
Date
Board member(s) Site
Celia Baxter
January 2023
Bruce Thompson Simon Gibbins Tracey Graham Nick Jefferies Rosalind Kainyah Clive Watson Bruce Thompson Nick Jefferies Nick Jefferies Simon Gibbins
Variohm
October 2025
Bruce Thompson Celia Baxter Simon Gibbins Nick Jefferies Rosalind Kainyah Clive Watson Nick Jefferies Simon Gibbins
Noratel Poland
February 2023
Limitor
May 2023
Magnasphere, Phoenix America
Engineering & Technical Sales Forum
September 2023
Celia Baxter
Cursor Controls
October 2023
Celia Baxter
Variohm Eurosensor
During these visits the Board seeks to better understand: ■ The nature of each business, the products it makes and the customers and markets it serves ■ Any operational challenges or constraints that the business may face ■ Opportunities that have been identified for future product innovation and business growth ■ Employee morale and motivation, working conditions, local skills and expertise, and the strength of relations among the workforce generally and with the local senior management team ■ Relations between the business and the wider Group ■ Where a business sits within a cluster of Group companies, how that cluster is working together and the September 2024 Internal Conference and Capital Markets Day In September 2024, all of our businesses were brought together in London for a two-day internal conference and a Capital Markets Day. These events provided an opportunity for Board members to have one-on-one discussions with all of the senior leaders across the Group and several members of their respective teams. All businesses participated and all Board members attended.
November 2023
Celia Baxter
Sens-Tech
January 2024
Bruce Thompson Celia Baxter Simon Gibbins Tracey Graham Nick Jefferies Rosalind Kainyah Clive Watson Bruce Thompson Nick Jefferies
MTC
April 2024
CPI, Phoenix America, Shape, Magnasphere, Beacon
May 2024
Nick Jefferies
DTI
July 2024
Nick Jefferies Simon Gibbins Bruce Thompson Celia Baxter Simon Gibbins Tracey Graham Nick Jefferies Rosalind Kainyah Clive Watson
Positek
September 2024
Internal Conference and Capital Markets Day
January 2025
Nick Jefferies
Sens-Tech
March 2025
Nick Jefferies
Myrra China, Noratel China, DTI
opportunities and challenges that this brings ■ Possible future acquisition targets that may complement the existing business ■ Any health and safety issues
In addition to regularly scheduled business reviews, several members of the Group Management Committee (“GMC”) conduct routine functional meetings and other site visits with our businesses.
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discoverIE Group plc Innovative Electronics
Annual Report and Accounts for the year ended 31 March 2026
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