Workforce voice in corporate governance: where are we now?
FRC research into implementation of requirements on workforce engagement shows that progress has been patchy.
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The Financial Reporting Council (FRC) has just published research into how companies have implemented the requirements of the UK Corporate Governance Code on workforce engagement.
To recap: the 2018 code included for the first time a principle stipulating that “for the company to meet its responsibilities to shareholders and stakeholders, the board should ensure effective engagement with, and encourage participation from, these parties”.
And for engagement with the workforce, the code says that one or a combination of three methods should be used: a director appointed from the workforce; a formal workforce advisory panel; or a desig
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