{"id":128,"date":"2017-04-03T20:34:21","date_gmt":"2017-04-03T20:34:21","guid":{"rendered":"http:\/\/www.jsml.com.pk\/wordpress1\/?page_id=128"},"modified":"2023-02-25T08:09:17","modified_gmt":"2023-02-25T08:09:17","slug":"human-resources-and-remuneration-committee","status":"publish","type":"page","link":"https:\/\/www.jsml.com.pk\/index.php\/human-resources-and-remuneration-committee\/","title":{"rendered":"Human Resources and Remuneration Committee"},"content":{"rendered":"

\"\"<\/p>\n

The Board of Directors in compliance to the Code of Corporate Governance has established an HR & R Committee.<\/p>\n

Sr.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Name of Member \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Status<\/p>\n

1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Mr. FarhanIlyas \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Chairman \/ Non-Executive Director<\/p>\n

2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Mr. Syed Anwar Hussain Shahid\u00a0 Member \/ Non-Executive Director<\/p>\n

3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Mr. Ghias-ul-Hasan\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Member \/ Executive Director<\/p>\n

Terms of Reference for HR&R Committee<\/strong><\/p>\n

The Main term of reference of the HR&R Committee of the Company includes the following:<\/p>\n

The Committee shall be responsible to:<\/strong><\/p>\n

    \n
  1. Recommending human resource management policies to the board;<\/li>\n
  2. Recommending to the board the selection, evaluation, compensation (including retirement benefits) and succession planning of the CEO;<\/li>\n
  3. Recommending to the board the selection, evaluation, compensation (including retirement benefits) of COO, CFO, Company Secretary and Head of Internal Audit;<\/li>\n
  4. Consideration and approval on recommendations of CEO on such matters for key management positions who report directly to CEO or COO.<\/li>\n<\/ol>\n

    a. The remuneration of the executive and non-executive Director shall not fall within the preview of the HR & R Committee.<\/strong><\/p>\n

    b. Recommendations in respect of compensation including performance incentive will ensure that:<\/strong><\/p>\n

      \n
    • The Company is able to recruit, motivate and retain persons of high ability, caliber and integrity.<\/li>\n
    • The packages are consistent with what is normal in the industry and \/ or specific job wise, as determined through surveys conducted.<\/li>\n
    • Incentives are where applicable are based on criteria which have been carefully examined, discussed and authorized.<\/li>\n<\/ul>\n

      c. Selection recommendation should ensure that the Company has formal selection procedure which provides for<\/strong>;<\/p>\n

        \n
      • A description of the position that requires to be filled with a profile of ideal candidate.<\/li>\n
      • Selection Boards for various levels of recruitment.<\/li>\n<\/ul>\n

        d. Performance evaluation should<\/strong>:<\/p>\n

          \n
        • Be based on procedures formally specified and which override individual likes and dislikes;<\/li>\n
        • Provide for discussion of the Annual Performance Report with each manager concerned.<\/li>\n<\/ul>\n

          e. The Committee will also:<\/strong><\/p>\n

            \n
          • Review and approve compensation payable to senior management for any loss or on termination of services to ensure that it is consistent with contractual terms and is otherwise fair.<\/li>\n
          • Review and advice on the training, development and succession planning for the senior management with reference to the Board\u2019s corporate goals and objectives.<\/li>\n
          • Devise a procedure for the approval of HR related policies of the Company.<\/li>\n
          • Review for time to time as appropriate these Terms of Reference and the effectiveness of the Committee and recommend to the Board any necessary changes.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            The Board of Directors in compliance to the Code of Corporate Governance has established an HR & R Committee. Sr.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Name of Member \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Status 1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Mr. FarhanIlyas \u00a0<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-128","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/pages\/128"}],"collection":[{"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/comments?post=128"}],"version-history":[{"count":4,"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/pages\/128\/revisions"}],"predecessor-version":[{"id":967,"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/pages\/128\/revisions\/967"}],"wp:attachment":[{"href":"https:\/\/www.jsml.com.pk\/index.php\/wp-json\/wp\/v2\/media?parent=128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}