OUR REFLECTIONS ON THE KING IVTM OUTCOMES
We measure SPAR’s overall performance in the context of the external environment as it is demonstrated through a wide range of activities, interactions and relationships. Financial performance is but one aspect of overall performance, in a similar way that financial capital is only one source of value when considering business activities, outputs and outcomes.
Our key facts encompass the financial and non-financial indicators we use to gauge our annual performance. Our five-year financial review provides a longer-term comparison of key data. Together with our value-added statement, this provides shareholders with historical and comparative performance trends related to financial value creation. This includes, for example, employment, dividends paid and share price movements.
These indicators are closely linked to our strategic imperatives, which drive our progress towards achieving the group’s vision: being the first-choice brands in the communities we serve.
We also recognise that our performance enables our stakeholders – our retailers, employees and suppliers, in particular – to be sustainable. Where we are unable to mitigate our strategic risks, we are potentially affecting a wide range of stakeholders who rely on SPAR to provide a market for their products, services and systems to support their retail operations, who depend on SPAR for employment and who rely on the group to aid empowerment in their communities.
The board considers the group’s performance at the quarterly board meetings, with specific indicators monitored in greater depth by the relevant committees. Where progress is unsatisfactory, action plans are put in place to ensure recovery and mitigation. Read about our performance for the 2017 financial year in the Chief Executive Officer’s report and financial review.
Individual employee performance is structured and rewarded through a performance management system that aligns performance indicators to strategic imperatives, thereby creating a positive correlation between individual, team and company performance and remuneration earned. Read more about our remuneration philosophy and implementation here.
Retailer performance is supported through financial benchmarking, IT, human resource, marketing and retail operations services – all geared towards supporting success and sustainability.