Metro Inc. | Formal employee representation in strategic decision making at Metro Inc.

Status
4.03% votes in favour
AGM date
Previous AGM date
Proposal number
1
Resolution details
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Decent work
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Staples
Company HQ country
Canada
Resolved clause
It is proposed that the Board of Directors evaluate ways to increase employee participation in Board decision-making. It is suggested that the fruit of this reflection be reported at the next annual meeting in 2023.
Supporting statement
The health and economic crisis has reminded us of the importance of employee health and well-being within an organization. There is no need to reiterate some of the benefits: a higher level of job satisfaction, a better sense of belonging, a higher rate of engagement, increased productivity, reduced absenteeism, lower insurance costs and reduced risk of work-related accidents or illnesses. Over the next few years, boards of directors will be faced with several challenges related to talent management and development. In recent years, boards of directors have made a point of increasing the quality of their decision-making by drawing on a variety of experiences and skills and by involving as many people of all genders, ages, cultural backgrounds, and religions as possible. While our boards are comprised of a majority of independent directors, they lack the employee perspective that could provide an alternative view of the organization's operational and strategic issues, better oversight of senior management decisions, and a better balance of short- and long-term perspectives in decision making, as employees tend to favour the long term. The most recent edition (2018) of the U.K. Corporate Governance Code, invited corporations to consider various initiatives to increase employee participation in organizations’ highly strategic decisions, including the following: the creation of a statutory workforce advisory committee, the designation of a board member to liaise with workers, or the appointment of at least one employee other than the CEO as a board member. We are convinced of the great value of direct and formal employee input into strategic decision-making processes, particularly those with significant talent management and development components, and we are putting forward this proposal with the confidence that you will be able to propose ways to ensure employee input and participation at the next annual meeting in 2023.

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