Page 12 - NZPM Annual Report 2017

NZPM GROUP ANNUAL REPORT 2017

years, as well as Plumbing World being approved GOVERNANCE
by ACC for Secondary Accreditation and Metrix
for Tertiary Accreditation. The reappointment of Alister Lawrence and Stu
McIvor to the board at the last annual meeting
has meant that NZPM has had a stable group of
This is a great effort by both businesses to ensure directors for the year. The board have recently
the on-going safety of our people, together with announced a new initiative to help foster future
the additional benefit of a reduction in our elected director capability from our ordinary
ACC levies.
shareholder membership pool.

Most importantly, safety is becoming behaviour The objective of the NZPM Future Governance
driven rather than just a compliance requirement. programme is to identify potential future elected
Staff are progressively reporting more and more directors for the NZPM board, by selecting one
near miss incidents which helps the company to shareholder applicant to participate in the
address potential issues before they occur.
programme each year.

TALENT MANAGEMENT The successful applicant will be a shareholder
who has indicated a strong desire to be involved
The recruitment, training, development and in the future NZPM governance process, and
retention of staff are critical factors to our future who also demonstrates the core attributes for
success. Our response to the competitive development and mentoring as a potential future
employment market is further investment in director. The expectation is that participants will
training and development using a range of tools have the time, capacity and interest to make
to improve the outcome and opportunities for themselves available for a governance role within
staff, the customer experience and ultimately our 1-5 years after undertaking the programme.
operating performance.
This year elected directors John DeBernardo
We have recently made the decision to bring and Craig Coxhead retire by rotation, and being
recruitment in-house with a small team to eligible have offered themselves for re-election.
develop and grow our employment brands and
to attract and enhance capability of candidate
applications. Covering the entire process of REBATE DIVIDEND
sourcing, selecting and inducting new employees,
the talent team are responsible for delivering In June, NZPM declared a rebate dividend of 4%
effective recruitment strategies including of A Grade Cash to be paid in cash in September
communications, building a talent pipe-line, 2017. The doubling of the rebate dividend from
succession planning, optimising recruitment last year is a direct result of the progressive
channels and deployment of new recruitment improvements to earnings in 2017 and is
technology. consistent with our policy guideline of distributing
80% of NZPM’s net profit after tax.
We expect this to enhance employee morale,
increase internal mobility and improve the quality NZPM believes that when the rebate dividend is
of new employees while reducing cost per hire combined with everyday competitive pricing, the
and producing stronger employment brand Go for Gold rebate, MaxPoints and NZPM Extra
awareness. Benefits, the returns are very attractive
to shareholders.

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