Risks and risk management Principal risks and uncertainties continued Risk How we mitigate Progress in FY21 PEOPLE AND CULTURE • The composition of the Executive • New purpose created, re-emphasising Board is regularly reviewed by the our shared values and foundations. Description Board to ensure that it is appropriate • Capability increased through resource The success of the business could be to deliver the growth plans of the investment in key areas notably in our impacted if it fails to attract, retain and business. digital and data teams. motivate high-calibre colleagues. • Succession plans and appraisals are in • Increased Group Board focus on Board place across the Group. and Executive Board succession and Maintaining and evolving the culture of • High-calibre individuals are retained talent management and introduced our business (embodied in our shared and developed through sponsored framework to aid better discussion. values) is essential to delivering our talent management and development. strategy and ensuring the long-term • Talent Committee established, sustainability of our business. • Shared values describe and embed our overseen by the Nominations culture. Committee and the Group Board, Link to strategy: • The Group’s Remuneration Policy to provide greater focus and a more Committed colleagues detailed in this report is designed to formal talent management and Customer understanding ensure that high-calibre executives succession structure throughout the Shared values are attracted and retained. Lock-in of business. Performance indicator: senior management is supported by • New remuneration policy with Covid- Colleague engagement awards under the Long-Term Incentive specific initiatives introduced to Plan. support better retention and reward of Executive responsibility: colleagues. Peopleand Stores Director Board oversight: • We launched our first inclusion Reports to: • People plan, talent and succession and and diversity networks, each being Chief Executive Officer culture reviewed at least annually by sponsored by an Executive Board Impact compared to FY20: the Board. member. • Monthly CEO report covers People. • Board of Directors attended awareness • Colleague dashboard regularly workshops, with expert guest speakers reviewed by the Board. on diversity and inclusion subjects. • Nominations Committee and • Developed and rolled out diversity Remuneration Committee oversight of and inclusion training and significantly People policies and practice. increased our focus with the ‘The is Me’ • Group Board engagement with programme. colleagues through site visits, senior • Number of National Colleague Voice executive mentoring, NED attendance meetings increasedto 8-10 per annum, at annual seminar, and at National attended by the CEO and at least one Colleague Voice meetings 8-10 times NED, with formal post Board feedback. per annum. • We invested in training ver 7,0o 50 store colleagues in a new ‘friendly and helpful’ programme, keeping them engaged and motivated during the third lockdown. • Continued the work of the Store Colleague Safety Group to oversee colleague personal safety in stores. • Line managers have completed mental health awareness training which has been implemented by increased communication on our ‘Home Comforts’ intranet. Store colleagues have completed an online mental health module. 84 DUNELM GROUP PLC ANNUAL REPORT & ACCOUNTS 2021