Just Group plc | Annual Report and Accounts 2024
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SPOTLIGHT ON EMPLOYEE ENGAGEMENT Michelle Cracknell is the Employee Engagement Champion. She brings a wealth of experience and knowledge on colleague dynamics, culture and values, which is valuable for this role. A role profile has been developed for the Employee Engagement Champion role, which ensures that the Board complies with Provision 5 of the Code regarding engagement with employees. Each year, Michelle follows an agreed plan of work in collaboration with the Group Chief People Officer, which uses all the channels of communication and fosters new engagement opportunities. The role profile and effectiveness of this employee engagement method has been reviewed as part of the annual Board and Director performance review process. It was concluded that it remains effective and adds value in ensuring that the Board considers employees in its decision making. It will remain unchanged in 2025. Michelle had an active year. She met regularly with the Group Chief People Officer to discuss developments on colleagues, culture and wellbeing matters. She also engaged with colleagues on an informal basis in our Belfast, London and Reigate offices, and she attended a customer call listening session with members of the Customer Contact Service team. Michelle introduced a new session on culture with senior leaders of the Company. This provided an interactive opportunity to engage on Just’s approach to culture and gain an insight into how Just’s culture has been embedded across the business. As part of the Take on Board series in 2024, Michelle and the Group Chief People Officer hosted a session on remuneration matters and the alignment of Executive Directors’ remuneration with the wider workforce, which created an opportunity for colleagues to ask questions and provide feedback. Through these various forms of engagement, Michelle is able to provide feedback to the Board on her insight into what matters to our colleagues and important initiatives that support Just’s strategic priority to ensure colleagues feel proud to work at Just. I’m grateful for the open and candid conversations I’ve had with various colleagues at Just. The insights gained are invaluable to help me fulfil my role as employee engagement champion.” Michelle Cracknell Independent Non-Executive Director
GOVERNANCE IN OPERATION continued
STAKEHOLDERS AND KEY BOARD DECISIONS
COLLEAGUES Ensuring colleagues feel proud to work at Just remains a key strategic priority for the Board. During the year, we evolved our Just behaviours to support our future ambition as part of a culture centred on Just’s purpose and high performance, where colleagues feel proud to work at Just. Colleagues were invited to attend a series of engagement sessions with Non-Executive Directors branded as “Take on Board” in 2024. At all sessions, colleagues had the opportunity to ask questions on any matters of interest and provide feedback, which was an opportunity for the Directors to gain insight on what matters to our colleagues, and what requires the attention of the Board. In addition, the designated lead Non-Executive Director on employee engagement provided feedback to the Board on colleague-related matters as outlined in the spotlight on employee engagement. SHAREHOLDER ENGAGEMENT The Group maintained an open dialogue with its institutional shareholders and debt investors during 2024 through a programme of meetings undertaken by the Group Chief Executive Officer, Group Chief Financial Officer and the Investor Relations team. Equity-led post results roadshows were held in March and August/September 2024, in addition to two North America roadshows for prospective investors in May and October. Executive Directors and management attended multiple investor conferences throughout the year, where they met both debt and equity investors. They also provided briefings to brokers and non-brokers, and throughout the year hosted various events, roundtable discussions and one-to-one meetings with existing and prospective investors. There was regular engagement with shareholders during 2024 on a number of important matters including the growth opportunities available to the Group, our market positioning and competitive threats, the investment strategy, capital management and allocation, and the regulatory environment following the Solvency UK reforms. Other topics included customer regulation such as the FCA’s Consumer Duty and the retirement income thematic review, the effect of any pension reforms, people and culture, and proposition development. The Investor Relations team provides regular reporting to the Board on investor activity, market and peer analysis, share price performance and investor feedback from meetings with the Chair, Executive Directors and the Investor Relations team. Analysts’ and brokers’ reports are also made available to the Directors and the Board receives detailed feedback from our corporate brokers following the results roadshow. The Company’s ordinary shares are covered by seven analysts. The Investor Relations team also maintains an open dialogue with non-covering analysts, banks, brokers, credit analysts and other market participants. Fitch continues to maintain their A/A+ credit ratings for subsidiaries of the Group, and reaffirmed a Stable outlook in November 2024. During 2024, the value of the Company’s ordinary shares increased by 89% to 162.40 pence at 31 December 2024, compared with the FTSE 250 life insurance index which decreased by 12%. The Senior Independent Director and Committee Chairs are available for consultation with shareholders if they have concerns which are inappropriate to raise with the Chair, Group Chief Executive Officer or other Executive Directors. Our 2024 AGM was held on 7 May 2024 in our London office. Shareholders were given the opportunity to raise questions in person at the AGM or via email in advance of the meeting. All resolutions were passed with at least 90% of those voting supporting the resolutions.
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