Transat AT Inc. | Formal employee representation in strategic decisionmaking at Transat AT Inc.

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
TRZ:CN
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
Industrials
Company HQ country
Canada
Resolved clause
It is proposed that the Board of Directors evaluate ways to increase employee participation in the Board decision-making process. It is suggested that the findings of this thought process be documented in a report at the next annual meeting in 2023.
Supporting statement
The health and economic crisis has reminded us of the importance of the health and well-being of the organization's employees. Some of the benefits are obvious: a higher degree of job satisfaction, a greater sense of belonging, a better engagement rate, increased productivity, reduced absenteeism, lower insurance costs as well as fewer risks of industrial accidents and occupational diseases. Over the next few years, boards of directors will be faced with several challenges related to talent management and development. In the past few years, boards of directors have committed themselves to enhancing the quality of their decision-making process by tapping into the experiences and skills of many people as possible of all genders, ages, origins, and religions. Although our boards of directors are made up primarily of independent directors, they lack the vission of employees who might have a different perspective of the organization's operational and strategic issues, provide better oversight of senior executive decisions and, since employees tend to prioritize the long term, help achieve a better balance of short- and long-term decisions. 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 panel, 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. Utterly convinced of the great value of employees' direct and formal contribution would bring to the strategic decision-making processes, especially where talent management and development aspects are concerns, we are tabling this proposal fully confident that the Corporation will be fully able to propose ways at the next annual meeting in 2023 that will ensure employee participation and the taking into account of their views.

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