Wellcom_FY11-Financial-Report

Payments are granted to executives based on specific

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Unformatted text preview: onnel is valued at the cost to the Group and expensed. 15 For personal use only Wellcom Group Limited Directors’ Report Short term and long term incentives are designed to align the targets of the business units with the targets of those executives in charge of meeting those targets. Payments are granted to executives based on specific annual targets and key performance indicators (“KPI”) being achieved. KPI includes profit contribution, customer satisfaction and leadership contribution and management. Performance in relation to the KPIs is assessed annually, with bonuses being awarded depending on the achievement of the KPIs. Following the assessment, the KPIs are reviewed by the remuneration committee in light of the desired and actual outcomes, and their efficiency is assessed in relation to the Group’s goals and shareholder wealth, before the KPIs are set for the following year. In determining whether or not a financial KPI has been achieved, the Company bases the assessment on audited figures. The k...
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