Governance Financial Statements
Strategic Report
61
Section 172 statement
DIRECTORS’ STATEMENT The Directors consider, both individually and collectively, that they have acted in the way they consider, in good faith, would be most likely to promote the long-term success of the Company for the benefit of its members as a whole, whilst having regard to the matters set out in Section 172(1)(a) to (f) of the Companies Act 2006 in the decisions taken during the year. ENGAGEMENT The Board recognises that our stakeholders have diverse and sometimes competing interests that need to be finely balanced, and that these interests need to be heard and understood in order for them to be effectively reflected in decision making. Information about how the Board has engaged with stakeholders during the year and outcomes of that engagement can be found on pages 58 to 60 and 86 to 88. BOARD DECISIONS AND OVERSIGHT The matters set out in Section 172(1) underpin Just’s purpose to help people achieve a better later life. Examples of how stakeholder engagement and Section 172(1) matters have influenced Board discussion and decision making during the year can be found on pages 86 to 88. The table below sets out where key disclosures in respect of each of the Section 172(1) matters can be found: Section 172(1) factor Relevant disclosures Location The likely consequences of decisions in the long term • Strategic priorities • Consideration of Section 172(1) factors by the Board Pages 16 to 17 Pages 86 to 88
STAKEHOLDER SPOTLIGHT…
In July 2024, our Customer Service Contact team in Reigate hosted a “customer call listening” session for our Board members. The team runs these highly interactive and engaging sessions for all new starters and other colleagues on a monthly basis and has received fantastic feedback to date. The aim of these sessions is to share our customer-centric calling approach to deliver positive experiences and explain how our call agents provide the “Just” experience through our customer experience framework. The sessions also highlight some of the challenges our customers face, which in turn helps our colleagues feel closer to our customers and better understand their needs. During the session, the Board listened to some anonymised call recordings followed by a discussion on how our agents are supported, especially when handling complex and emotive calls such as bereavement. Plans were shared about how technology will be leveraged to improve the overall call experience, with enhanced knowledge-based support tools and automation, enabling the call agent to deliver improved customer outcomes. Through sharing valuable insights from real-life customer stories, the importance of listening and understanding customer and partner needs is brought to life, which is an essential part of ensuring everyone at Just is connected to our purpose of helping people achieve a better later life. Call Listening Sessions with the board
The interests of the Company’s employees
• Colleagues and culture • Colleague engagement scores • Diversity, equity, inclusion and belonging • Relationships with stakeholders • Non-Executive Director Lead on employee engagement • Strategic priorities • Consideration of Section 172(1) factors by the Board • Relationships with stakeholders • Sustainability: TCFD • Board oversight of Just’s sustainability strategy • Relationships with stakeholders
Pages 54 to 57 Page 57 Pages 56, 88 and 96 Pages 58 to 60
Page 84
The need to foster the Company’s business relationships with suppliers, customers and others
Pages 16 to 17 Pages 86 to 88
Pages 58 to 60
The impact of the Company’s operations on the community and environment The desirability of the Company maintaining a reputation for high standards of business conduct The need to act fairly between members of the Company
Pages 40 to 53 Page 79
Page 58
• Our purpose • The Board’s role in monitoring culture • Internal controls
Page 1 Page 81
Pages 102 to 103 Pages 28 to 39 Page 124 Page 124
• Business review • Shareholder voting rights • Annual General Meeting
It was an extremely powerful and humbling session, which has helped me see the decisions I make through a different lens. Thank you for sharing such rich and valuable insights into your daily work.” Mary Phibbs Senior Independent Director
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