The 2024 Annual Reward Awards, hosted by the South African Reward Association (SARA), celebrated outstanding contributions to employee reward systems, with a focus on transparency and employee-centred practices.
Held amidst anticipation and excitement, the ceremony recognised businesses and individuals designing reward structures that not only attract and retain talent but also motivate employees to excel.
This year, the spotlight shone brightly on MultiChoice Group Ltd and Standard Bank, who each achieved top accolades in their respective categories.
The prestigious SARA Project of the Year Award was bestowed upon MultiChoice for its innovative Total Reward Online Tool, a standout initiative designed to streamline and enhance the annual remuneration review cycle.
The tool simplifies the management of salary increases, bonuses, share allocations, and payroll submissions, creating a user-friendly experience that significantly improves approval efficiency across management levels.
Judges lauded the project’s impactful business benefits and effective project management, making it a deserving winner among a talented pool of nominees.
In second place, Doré Burger from BMW South Africa garnered praise for her leading role in the Total Reward Statement project.
This initiative has set a benchmark for total reward reporting across the company’s global operations. Joint third-place accolades were awarded to RCL Foods for their Penny Wise project and ABSA for the eKhaya Colleague Share Scheme, both initiatives noted for enhancing employee financial well-being and engagement.
The SARA Remuneration Report Award, which recognises alignment with King IV governance guidelines and promotion of fair and transparent policies, saw Standard Bank emerge victorious.
Their remuneration report was admired for its clarity and transparency, proving to be an exemplar in stakeholder communication.
“The report’s balance of detail, transparency, and stakeholder focus is impressive,” noted the judges, who commended its readability and narrative quality. Vodacom achieved second place with a report characterised as “clear and strategically aligned,” while Old Mutual’s engaging submission also made a notable impression.
Additionally, the 2024 ceremony marked a proud moment for the younger professionals in the industry, with Bukelwa Molefe of Adapt IT receiving the Young Remuneration Professional Award. Bukelwa has quickly made her mark in the field, possessing both a BComm Honours degree in Economics and multiple professional designations, including the SARA Reward Specialist designation.
Her contributions to various SARA committees highlight her commitment to advancing the remuneration profession.
The night’s highest honour, the President’s Award, was awarded to Lindiwe Sebesho, recognising her unwavering dedication and remarkable contributions to the rewards industry over her illustrious career.
With qualifications that include an MBA and the Master Reward Specialist designation, Lindiwe has held numerous senior leadership roles and has consistently championed professional standards and policies.
Her efforts have illuminated paths for many in the field through mentorship and active participation within SARA’s Executive Committee.
The 2024 Annual Reward Awards not only highlighted exemplary practices but also reinforced the critical importance of creating effective and transparent reward systems that cater to the evolving needs of employees.
BUSINESS REPORT
