Reports

Challenging thought leadership on the issues which impact our client base

  • FRC report on Corporate Culture and the role of Boards

    An excellent report from FRC which highlights the importance of corporate culture and the value of giving it due care and attention at both board and executive level.

  • The Post Financial Crisis
    Chief Risk Officer
    The Teenage Years

    ...the difference between ‘good’ and ‘great’ is a CRO’s ability to find the time to focus on the big picture...

  • Perspectives on a Fair Deal

    Executive Pay is the most emotive of subjects. It is our view that it will continue to be so until there is greater societal consensus on what constitutes a ‘Fair Deal’ for a CEO. In building that consensus the starting point has to be between companies and shareholders. Our survey results highlight the areas where there is broad alignment, to those where there is fundamental disagreement – from the importance of the CEO to a company’s success, to the need for better succession planning.

  • Changing Faces at the RemCo

    A year on from the UK’s ‘shareholder spring’, whether real or a media creation, executive remuneration remains a red-hot topic. In November 2012 Hedley May launched a study to examine how public companies are adapting to the hostile environment created by political pressure, increased shareholder activism and sensationalist media coverage. After interviews with Chairmen, RemCo Chairs, HR Directors and Reward Directors representing 40 FTSE 100 companies across a breadth of industries, we have produced ‘Changing Faces at the RemCo’ in March 2013. In the report we analyse the skills that are now required of the key players involved – RemCo Chairs, Group HR Directors and Reward Directors and how these individuals engage with executive management and institutional shareholders. We also consider how companies can successfully navigate the less than favourable media and political landscape.

  • Lawyers on Boards – “Where Are They?”

    UK Boards are criticised for being drawn from a narrow pool of individuals who hold, or have previously held, senior executive positions – most commonly CEO and CFO roles. In this report, we examine why there are currently so few NEDs with legal backgrounds in the UK despite this being an aspiration for many in the profession. We also assess the arguments for increasing lawyers’ presence on Boards and analyse the critical Boardroom skills they will need to contribute at the highest level. Hedley May sought the views of more than 70 Chairmen and NEDs of FTSE 350 companies through face-to-face interviews and an online survey. We also interviewed a number of leading Company Secretaries to gain an additional perspective from their experience.

  • The Compliance Challenge - retaining and developing leaders in an overheating market

    Five New Norms for the compliance market:

    • Top talent will be at a premium
    • Average talent will be valuable
    • Total compensation will rise on a relative basis
    • Recruitment requires creative strategies
    • Talent development programmes will be critical
  • The myth and reality of the corporate CRO

    Deloitte and Hedley May have collaborated on a research project to bring some clarity to the much discussed role of the corporate CRO, and to investigate how large corporates approach risk management. After interviewing a wide range of CFOs, CROs and NEDs on these issues across a broad spectrum of FTSE 100 organisations, we have produced ‘The Myth and Reality of the Corporate CRO – An individual or a set of capabilities?

    Specifically we sought to answer the following questions:

    • What is the current role of the CRO?
    • Is the role of the CRO becoming more prevalent outside financial services?
    • Who is the CRO?
    • What type of company has a CRO?
    • How are large corporates managing risk in the new economic environment?
    • Is ‘best practice’ risk management emerging?
    • Is there a sufficient focus on opportunity and upside in risk management?
    • What are the implications for the future of risk management?

    We hope it provides a fresh perspective on some of the most critical risk management challenges facing corporates.

  • Company Secretaries: Raising the Profile

    Company secretaries are now vital to delivering sustainable business performance. Harry Chetwynd Talbot considers the broader remit of the role and the expanding talent pools.

  • Risk Upgrade: Rise of the New Model CRO in the Financial Services Sector

    March 2011

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    In the last quarter of 2010 we embarked upon a project to answer the following questions:

    • What should an organisation look for when hiring a CRO?
    • How can an organisation help the CRO be successful?
    • What is the career path for a CRO?
    • How will the CRO of the future be created?

    After interviewing a range of CEOs, NEDs and CROs on these issues across a broad spectrum of financial services organisations, we have produced 'Risk Upgrade – Rise of the New Model CRO in the Financial Services Sector'.

    In addition to answering the questions posed above, the report also considers the issues of CRO remuneration and the value that a highquality CRO can bring to an organisation.

Indexes

Bi-annual analysis of our key functional markets

  • Preparing for an IPO

    Jan 2017

  • HM Audit & Treasury Retention Index

    March 2016

    Unprecedented levels of hiring activity over the past three years has exposed a weakness in the market for Group Heads of Internal Audit and Treasury.

  • Becoming an NED – HR Directors up 318%; lawyers down 32%

    October 2015

    The search for more diverse PLC Boards has given HR Directors a fair hearing, which has led them to what may be a permanent home on the RemCo. For lawyers, however, the search for relevance to PLC Boards must go on.

  • CFOs – twice as mobile as General Counsel

    February 2015

    60% of CFOs change with a new CEO, evidence of how much importance is placed on the two roles working closely in tandem to implement a new management philosophy.

  • FTSE 100 Reward Retention Index - So why do people work for your organisation? A critical question for the RemCo

    July 2014

    The Hedley May Retention Index is an analysis of the FTSE 100 and 250’s Legal, Governance and Risk functions. By analysing the number of appointments in the past six months and the number of searches currently in the market, and comparing it with historical trends, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration for the Legal, Company Secretarial, Internal Audit, Risk and Compliance functions.

  • Control function leaders - you've never had it so good!

    February 2014

    The Hedley May Retention Index is an analysis of the FTSE 100 and 250’s Legal, Governance and Risk functions. By analysing the number of appointments in the past six months and the number of searches currently in the market, and comparing it with historical trends, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration for the Legal, Company Secretarial, Internal Audit, Risk and Compliance functions.

  • The HR Director's right-hand and successor?

    July 2013

    The Hedley May Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

  • Company Secretary - a standalone role or double hat

    March 2013

    The Hedley May Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

  • More HR Directors
    on Boards

    December 2012

    The Hedley May HR Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

  • The Changing Faces
    of Reward Heads


    June 2012

    The Hedley May HR Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

  • Lawyers and Succession Planning - a case of more time

    April 2012

    The Hedley May Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

  • Greater Diversity on Boards - are legal and HR Functions key?

    January 2012

    The Hedley May Retention Index is an analysis of the FTSE 100 HR functions. By comparing the average tenure of Group HR Directors with the number of appointments in the past six months and the number of searches currently in the market, we are able to provide a lead indicator on the challenge of retention and pressures on remuneration.

Podcasts

Insightful interviews with opinion leaders

  • Reward isn’t just a technical discipline; it is related to psychology, motivation and culture.

    Peter Newhouse, SVP Global Head of Reward, Unilever talks to Deborah Warburton about world-class Reward.

    November 2012

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    Peter Newhouse

    Peter Newhouse
    SVP Global Head of Reward, Unilever

    Peter Newhouse discusses how Unilever is understanding reward from the consumers’ point of view and how the demands on Heads of Reward have changed now that we are in “the era of application”. He also dispenses some invaluable advice for the next generation of reward leaders.

    Peter joined Unilever in September 2010 as Global Head of Reward and a member of Unilever HR’s Leadership Team. He is a frequent speaker at international conferences, has had articles published on reward in newspapers and specialist publications and has featured on television and radio as an expert on pay. Peter was previously Group Head of Remuneration at Standard Chartered Bank and a senior executive at Ford. After graduating with a Law degree, Peter started his career in reward in 1980 when he joined the American consulting company Organization Resources Counselors Inc (ORC). As well as developing the reward consultancy services of MM&K, specialists in executive and incentive compensation, he has also run his own successful consulting business, Peter Newhouse & Co.

  • If I’m ever going to be fired it will be because there was a mix up with the RemCo.

    Hugh Mitchell, Chief HR and Corporate Officer, Royal Dutch Shell talks to Deborah Warburton about world-class HR.

    June 2012

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    Hugh Mitchell

    "If I’m ever going to be fired it will be because there was a mix up with the Remuneration Committee".

    "You know there is a strong culture when it seeps out of the woodwork…"

    Hugh Mitchell discusses the pivotal moments in his career, the growing opportunities for HR to make an impact in international organisations and why Group HR Directors don’t need to be on the main board.

    As Chief Human Resources and Corporate Officer for Royal Dutch Shell, Hugh Mitchell has responsibility for Human Resources, Real Estate, Communications, Health, Security, and Aircraft. He is also Regional Director for Sub-Saharan Africa.

  • Women won’t get greater access to the workplace until men get greater access to the home.

    Caroline Waters, former Director People & Policy BT Group talks to Deborah Warburton about the progress that has been made on gender diversity following the Davies report.

    January 2011

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    Caroline Waters

    Caroline Waters discusses what difference the Davies Report has made to gender balance in organisations. She challenges the proliferation of "extreme jobs" that require great sacrifice, suggesting that organisations should stop designing them and accept different ways of working.

    Caroline Waters
    BT Group

    Caroline is Director of People and Policy for BT Group. Her current role focuses on realising BT’s business ambitions through leading-edge people strategies, underpinned by robust policies and processes, which promote inclusivity, empower individuals, generate revenue and opportunity and contribute to community and volunteering. Caroline also leads BT’s Diversity Centre of Expertise which builds on the company’s leadership in diversity practice to enhance implementation throughout BT’s operations. She regularly provides advice and guidance to the Government and industry and was awarded an OBE in 2010 for her services to diversity and equal opportunities.

  • Diversity and inclusion applies to everybody from the CEO to the janitor and unless you get it right at all levels you are not going to move forward.

    Helen Mahy, General Counsel and Company Secretary National Grid and Rosemary Martin, General Counsel Vodafone talk to Nick Hedley about the practical steps that can be taken to create a more diverse and inclusive workplace.

    June 2010

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    Diversity and inclusion applies to everybody, from the CEO to the janitor, and unless you get it right at all levels you are not going to move forward..."

    Helen Mahy of National Grid and Rosemary Martin, formerly of Reuters and, as of next month, Vodafone, are two of the leading General Counsel and Company Secretaries in the FTSE 100. They have also been responsible for leading Diversity and Inclusion within their respective organisations. In a thought provoking interview they share their experiences and highlight some of the practical steps that can be taken to build a diverse and inclusive organisation.

    Helen Mahy

    Helen Mahy
    Group Company Secretary & General Counsel, National Grid

    Helen Mahy was appointed as Group Company Secretary following the merger of National Grid Group plc and Lattice Group plc, having been Company Secretary at Lattice Group plc since March 2002. She was additionally appointed as General Counsel from October 2003. Previously, she was Group General Counsel and Company Secretary at Babcock International Group plc. Helen is currently a Non-executive Director of Stagecoach Group and was a Non-executive Director of Aga Rangemaster Group plc between 2003 and 2009. She is a Member of the GC100 Group Executive Committee and was Chair of the GC100 in 2007. She is a barrister and is currently working towards Coaching Performance Excellence Accreditation.

    Rosemary Martin

    Rosemary Martin
    General Counsel and Company Secretary, Vodafone(from April 2010).

    In the last month, Rosemary has been announced as the new General Counsel and Company Secretary at Vodafone and will be taking up her new role in April. Previously, Rosemary was General Counsel and Company Secretary at Reuters, a position she fulfilled between 2003 and 2008. Rosemary started her career in private practice at Rowe & Maw, however, moved to Reuters in 1997, initially joining as Deputy Company Secretary before being promoted to Company Secretary in 1999.

  • A great General Counsel is not like a hamster in a cage; gets up, staggers onto the wheel, runs as fast as it can until home time, staggers home to bed, only to get on the wheel again tomorrow.

    Nigel Boardman, Slaughter and May talks to Nick Hedley about what makes a great General Counsel.

    October 2009

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    Nigel Boardman

    Nigel Boardman of Slaughter and May discusses the subject of "What Makes a Great General Counsel?" with Nick Hedley. This podcast follows an in-depth discussion at a lunch attended by some of the leading General Counsels in the UK.

    A great General Counsel is not "like a hamster in a cage who gets up in the morning, unthinkingly staggers your way on to the wheel, runs as fast as you can until it’s time to go home, staggers home and goes to bed only to get on the wheel again the next morning" - Nigel Boardman, Slaughter and May.

    Nigel shares his views on some of the great General Counsel with whom he has worked, and the attributes that they display.

    Nigel Boardman
    Slaughter and May

    Nigel’s broad practice includes domestic and international corporate finance, mergers and acquisitions, joint ventures, IPOs, demergers, private acquisitions and disposals, private equity, public takeovers, issues of compliance and corporate governance and insolvency, restructurings and investigations. He also practises as a sports lawyer.