VU Live: unlocking value for a global employee-base - Investec
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VU Live: unlocking value for a global employee-base
About Halma Halma’s purpose is ‘to grow a safer, changes and to respond to their
cleaner, healthier future for everyone, customers’ needs to drive sustainable
Halma plc is a purpose-driven FTSE 100 every day.’ This purpose drives every growth. Attracting and retaining the best
group of global life-saving technology business decision and is embedded within people is a key enabler for Halma’s
companies which provide innovative its culture. The combination of purpose, growth. Rewarding superior performance
solutions to many of the key problems culture, strategy and business model is and sustainable growth through short-term
facing the world today. It has been a what differentiates Halma from its peers. and long-term incentives is a critical
publicly listed company in the UK for over Halma aims to deliver superior and aspect of its reward structure.
45 years. Named as Britain’s Most sustainable value for its shareholders by
Admired Company in 2021, Halma setting challenging targets, and has an
employs over 7,000 people in more than aspiration to double earnings every five
20 countries. It operates across three years, while maintaining high returns. The
sectors. Safety: protecting life as de-centralised nature of the group means
populations grow and protecting worker that each company operates as a
safety; Environment: improving food and separate legal entity with its own board of
water quality, and monitoring air pollution; directors; this drives accountability for
Health: meeting rising healthcare demand performance and supports good
as growing populations age and lifestyles governance. It also allows companies to
change. drive innovation in their chosen niche
markets and be agile and responsive to
The challenge automate part of the process and provide • a real-time trading interface with
participants with an online system where Investec Corporate Broking. Automated
Halma’s Executive Share Plan (ESP) is an they could safely hold their Halma shares settlements and foreign exchange
important component of its reward in electronic form and trade in real-time on avoids delays in trading or transfer of
structure and acts to motivate, retain and or shortly after the vesting date. The ability sale proceeds to employees;
reward the circa 250 senior leaders and to view and accept awards shortly after
future leaders who are crucial for the grant date and to sell and receive • a safe custody arrangement in
delivering Halma’s strong track record of proceeds into their personal bank account partnership with the company’s
sustainable growth. within days of the trade were key employee benefit trust (EBT) and
requirements. Mark commented: corporate nominee provider.
In 2015, when Mark Jenkins (now
“When exploring the options for the right Through the dedicated and proactive
Company Secretary) joined Halma, the
solution, I was very keen to maintain Investec team, Halma was able to deploy
award and vesting process was very
control of the data and be able to the solution quickly and with ease. When
manual and admin-intensive. Participants
customise our communications. Some asked for his thoughts on the Investec
were issued physical award letters via
platforms and administrators don’t offer a solution, Mark said:
their manager at grant. Participants
accepted their award by signing and flexible and tailored approach – so they
“The Investec platform is the best kept
returning a paper confirmation. At vesting, were never going to win my vote!”
secret and a real game-changer for
physical share certificates were issued by companies that are struggling to deliver
Given Halma’s growth aspirations, the
post. Both the award and vesting process their share plans efficiently. We, like
solution needed to be scalable and
took up to two months to be delivered others, were fearful of a fully outsourced
customisable. Following a market review,
around the world. Inevitably, this resulted model – which passes the risk to a third
Investec’s offering stood out as the clear
in lost documents, which added time and party and removes the personal and
leader in terms of flexibility, price and
cost. The inefficiency in the process and tailored nature of our communications.
service.
the inability of non-UK participants to sell The Investec solution brings the best of
certificated shares at low cost was also both worlds – maintaining our control over
detracting from the aim to reward and The Solution the data and documentation, while utilising
motivate. Mark expands on the issues technology to rapidly execute the
impacting Halma: Investec’s tech-enabled solution allows process.”
companies to reduce the admin time
“Our small team pride ourselves on versus a paper-based, internally Mark praised the approach and support
delivering great service to the Board and administered award process and provides given by the Investec team in
our operating companies. The slow and employees with a portal where they can implementing the solution:
manual process that we had to endure in view, accept, exercise and sell their
administering the ESP was a significant “Investec were with us every step of the
awards with ease. The solution is a
burden to us but more importantly a way – ensuring that the historic awards
complete share plan services package
frustration to our participants. Having gone were correctly loaded on the portal and
born from a corporate broking
through two paper-based grant and supporting us with ongoing grant and
environment which includes:
vesting cycles, streamlining as much as vesting events. The setup and launch took
possible, the delay of up to two months • an online platform for companies to a matter of weeks to complete and the
before participants received an award have full control over their share plan fact that this is an extremely cost effective
document or a share certificate was not admin; solution should put a smile on any Finance
efficient and not scalable.” Director’s face!”
• an online portal (VU Live) for
It quickly became apparent to Mark that a participants to view and manage their
technological solution was required to share awards from any device;
“Investec were with us every step of the way – ensuring
that the historic awards were correctly loaded on the
portal and supporting us with ongoing grant and
vesting events. The set up and launch took a matter of
weeks to complete and the fact that this is an extremely
cost effective solution should put a smile on any
Finance Director’s face!”
Mark Jenkins, Company Secretary, HalmaOutcome: vesting cycle always creates a peak in our Investec’s Aleda Denner speaks about the
workload but thanks to Investec, we can partnership with Halma:
Halma and its participants have been deliver this process in the most efficient
using Investec’s share plan platform since way, which ensures that we can scale up “We’ve really enjoyed working with Mark
2017 and the value it has brought has without additional resource and continue and the team for the last few years. They
been revolutionary. Mark summarises his to deliver a first class service to our valued had a clear objective when they reached
experience: colleagues. The corporate dealing rates out to us and were keen to make sure the
and professional broker execution have solution was 100% right for them. Due to
“This solution has been a step change for been very well received – particularly by our technology’s flexibility and clear
Halma and has been really well received those outside the UK, where trading is interfaces, we were able to configure it
by our participants. The share award and typically difficult and costly.” with ease for Halma’s requirements.
Our relationship with Halma began not too
“This solution has been a step change long after Investec entered the UK share
plans market and we were very happy to
for Halma and has been really well see such success in one of our first
implementations.”
received by our participants.”
Mark Jenkins, Company Secretary, Halma
Get in touch with us
Aleda Denner
+44 (0) 20 7597 6505
aleda.denner@investec.co.uk
Kevin Lim
+44 (0) 20 7597 4929
kevin.lim@investec.co.uk
investec.com/share-plan-services
We are a solutions-led corporate and investment banking business who provide capital and innovative ideas to growth-orientated Companies, Private Equity and Institutional Investors
across markets and sectors. Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation
Authority and a member of the London Stock Exchange. Registered office 30 Gresham Street, London, EC2V 7QP. Investec Bank plc 2017.
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