Rezco is 100% owned by management.
- Salaries for staff are at market levels and above
- Salaries of the main partners are currently below market levels, but sufficient enough to live at a reasonable standard of living without having to draw down on personal assets.
- 20% of profits (net income after reserves) are allocated to social Social Development
- The bonus pool consists of 30% of net income after reserves and giving to Social Development. Example if gross income is R 200, expenses and reserves are R100, then Net Income is R 100. R20 of that goes to social development and R 24 (30% of R80) of that goes to the staff bonus pool which is distributed. The remaining R 56 is either retained in the business or distributed to the shareholders according to their equity in the business.
- Staff 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 remunerating staff well that have performed with exceptional bonus allocations both as recognition to the value added as well as to ensure retention of top performers.
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