Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 463

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 463
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:Inclusion and retention of high performers                                                                                                                                                                                                                                                                                           | 7.0%      |
| Personal measures–Group CEO: Deliver enterprise-wide foundational prioritiesincluding regulatory excellence, wealth acceleration andstrategic investments, and the Group's technology strategy.–Group CFO: Deliver activities relating to regulatory excellencepriorities, Group Sustainability priorities, and robust liquidityand capital management. | 10.0%     |
| Subject to risk and compliance modifierThe Group Remuneration Committee retains the discretion torevise down the formulaic outcome taking into accountperformance against risk and compliance factors during theperformance period.                                                                                                                     |           |

| 332 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Directors’ remuneration report

Our approach to workforce reward Our goal is to deliver a unique and exceptional experience to energise colleagues to perform at their best. This is critical to strengthening our ability to attract, retain and motivate the people we need in competitive markets where employee expectations continue to evolve. Our workforce reward principles and commitments guide our approach and support our focus on being a great place to work. – We will reward our colleagues responsibly through fixed pay security and protection through core benefits, a competitive total compensation opportunity, pay equity, and a more inclusive and sustainable benefits proposition over time. – We will recognise colleagues' success through our performance routines, including feedback and recognition, pay for performance, and all employee share ownership opportunities. – We will support our colleagues to grow through our proposition beyond pay, with a focus on future skills and development, support for well-being, and flexibility. In 2024, we made several changes to improve colleague experience and unlock our performance edge: – We introduced new performance routines to over 200,000 colleagues in 58 markets, so colleagues know what is expected of them, how they are doing and how they can improve. This is achieved by discussing performance more frequently through the year, regularly exchanging feedback and simplifying year-end performance assessment to focus less on ratings and more on a dialogue between managers and colleagues. – We introduced 'Target Variable Pay' to over 150,000 colleagues in 46 markets, helping improve clarity and transparency on how we make pay decisions and the impact of Group, business and individual performance on variable pay. – We continued to improve our wellbeing offering by enhancing country Employee Assistance Programmes, increasing the number of mental health champions to expand the network's global reach, developing new financial wellbeing support and running global activity challenges to improve employees' physical wellbeing. The Committee