AGENDA ITEM: B3
MEETING:
RSSB Board Meeting
DATE:
05 March 2015
SUBJECT:
Company Objectives
SPONSOR:
Chris Fenton
AUTHOR:
Anson Jack
1.
Purpose of the paper
1.1
To approve RSSB Company Objectives for 2015/16.
2.
Background
2.1
Directors approved the objectives for this year in May 2014. These were used
to set individual and departmental objectives and a report has been prepared
for the Remuneration Committee about how the company has performed
against these objectives.
2.2
Taking account of the experience with the 2014/15 Objectives (Annex A), the
Stakeholder Survey, the discussion at the last board about strategic priorities,
and other feedback during the year, we are now proposing the Objectives for
2015/16. These are a build on those for the previous year which has simplified
and reduced the number from 12 to 9.
3.
Proposal
3.1
The proposed Company Objectives are shown in table 1.
RSSB Board Meeting Final: 05 March 2015
Page 1 of 2
AGENDA ITEM: B3
3.2
The proposed weighting between the objectives, for the purpose of calculating
the Company element of the bonus scheme/s is as follows:
3.3
It is proposed to keep the 2014/15 arrangement whereby the Company
Objectives will be used to assess 60% of individual bonuses with 40% based
on personal objectives aligned to these and personal development.
3.4
The measures that will be used for judging performance against these
objectives and contributing to the weightings in diagram above will be agreed
with the Remuneration Committee in May 2015.
4.
Recommendation
4.1
The board is asked to DISCUSS and APPROVE the Company Objectives for
2015/16 and the weightings set out in 3.2.
RSSB Board Meeting Final: 05 March 2015
Page 2 of 2
AGENDA ITEM: B3
Annex A
Strategy - Shall
Strategy - May
Customer
Delivery
People
Company Objectives 2014/15
Objective
KPI/Milestone examples
Support reduction of safety risk on the
GB rail network
SSRG/DRSG Objectives/
Evaluation / Reductions in risk
Improve understanding of risk as a
basis for decision making
Customer Survey / Training
courses delivered / Delivery of
revised TSD and CSM REA
guidance
Develop standards that promote a safe
and efficient rail system
ISCC Evaluation / Way forward
with all standards / Delivery
against standards programme
of work
Effective management of innovation to
deliver Rail Technical Strategy
TSLG Evaluation / customer
surveys / annual update on the
RTS
Deliver cross-industry research and
development programme
Progress against DfT agreed
objectives
Develop cross industry approaches to
improve efficiency and performance
RISAS, Health and Wellbeing,
PTI etc Milestones
Promote sustainability in rail
SDSG Evaluation
Represent the whole rail system
Customer Survey / Number of
members
Be relevant and responsive to industry
needs
Customer Survey / show
relationship to industry
objectives
Increase understanding of and
satisfaction with products and services
Customer Survey / Growing
membership
Operate effectively and efficiently to provide Work within budget / Resource
value for money for members and other
planning implemented
funders
Attract, develop and motivate a critical
mass of technical & professional
expertise
RSSB Board Meeting Final: 05 March 2015
Staff Surveys / Turnover /
Attendance
Page 1 of 1