At V.Group, Governance and Leadership does not just apply to our senior teams: it is how all colleagues, contractors and suppliers conduct themselves and align with our ethos of honesty, ambition and care. Leadership & Governance
Building a resilient and inspired team requires us to prioritise competency and diversity. The V.Group recruitment process continues to focus on the identification and development of talent, with particular attention paid to the value brought to our organisation by diversity of thought. This, to us, means creating an environment where people feel empowered to help shape our organisation, regardless of their gender, sexual-orientation, ethnicity, religion, or any other characteristic. This desire to have diversity of minds means we continue to not only have robust non-discriminatory hiring practices but pursue the active development of current colleagues who will continue to strengthen our organisation. We realise there are current pipeline issues, however, we are determined that we will be part of changing the way the industry approaches these fundamental issues. We regularly conduct structured talent reviews within each business unit and function across the group. Selected individuals identified through this process go on to participate in a career development planning discussion, which aims to define a tailored individual development plan. We are constantly monitoring and reviewing our talent pipeline and processes to identify any improvements that could be made to better align with our vision to foster an inclusive workplace. V.Group invest in cadet and graduate training programmes that will ultimately benefit both our business and the broader
industry. The nurturing of young talent and interest is one way we can help to ensure our expanding industry remains innovative through generations to come. Our commitment to operating with utmost integrity is one that spans all areas of our business, both on shore and at sea. We maintain high expectations of all colleagues, requiring them to undergo training relating to our Code of Conduct on a regular basis. This training reinforces our employees’ responsibility to act in accordance with our values. We expect the best from ourselves and those whom we work with. The Group’s Open Reporting Policy has been effective in giving our employees a mechanism to report any concerns relating to any issues from malpractice to health and safety. We can proudly state that, once again, no fines or charges associated with bribery and corruption were incurred in 2021, continuing our trend of “always zero” in all the years of collecting and reporting this data. Our ambition is to continue this success into 2022 and beyond. Actively working alongside peers and industry organisations through a range of initiatives remains central to our corporate strategy. We collaborate and participate in the UK Chamber of Shipping’s HSE, Safety Culture and Carbon working groups, ISWAN, HiLo Risk Management, Partners in Maritime Safety, The Sailors Society, Intertanko Human Element Committee and the Global Maritime Forum – Getting to Zero Coalition. These efforts play a key role in the review and subsequent updates to our governance practices. As part of the governance structure of the company, the Remuneration Committee of the Board meets regularly to review and discuss the company’s compensation and benefits strategy. The Committee ensures that decisions taken are reflective of the approach to remuneration within the wider Group. Linking ESG factors to executive pay is one of the ways we ensure these considerations remain at the core of our business decision making. The company operates a pay for performance system where performance against individual and business unit or function targets and objectives are assessed as part of decision making with respect to any base salary or bonus awards. Where ESG initiatives are contained within individual personal objectives, this would have a bearing on potential remuneration decisions. All members of the Group Executive Team have an objective related to leadership and support of HSSEQ initiatives and activities across the group. In 2022, V.Group will continue its efforts to optimise both transparency and accountability in our operations to promote fairness, equality and inclusion in our own operations and across the industry.
Photo: Rahul Thundiyil, MT FIDA
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