Rezco is 85% owned by executive management.
Salary Levels
- Salaries for staff are at market level and above.
- Salaries of the directors are currently below market level, but sufficient to enjoy a reasonable standard of living without having to draw down on personal assets.
Bonus Pool
- Up to 20% of profits (net income after reserves) are allocated to Social Development
- The bonus pool consists of up to 30% of net income after reserves and giving to Social Development. For example: if gross income is R200, expenses and reserves are R100, then net income is R 100. R20 of that goes to social development and R24 (30% of R80) of that goes to the staff bonus pool which is distributed. The remaining R56 is either retained in the business or distributed to the shareholders according to their equity in the business.
- Staff members are, therefore, also contributing to the various social developments we support.
- The bonus pool allocation to staff is determined by the management committee in the business, based on the overall value added to the business in the respective areas of investments, administration, distribution and client service.
- We strongly believe in the good remuneration of staff who have performed well by offering them exceptional bonuses, both as recognition for their value added, as well as to ensure retention of top performers.
Measurement Criteria
Staff performance is measured on two levels as follows:
- Performance of the overall team.
- Performance of the individual within the team.
Measurement criteria include:
- Performance in daily tasks relating to the role.
- Performance in tasks that are outside their daily tasks.
- The number of key deliverables missed.
- Loyalty to the business.