Bombardier Inc. | Formal employee representation in strategic decisionmaking at Bombardier

Status
3.56% votes in favour
AGM date
Previous AGM date
Proposal number
1
Resolution details
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Decent work
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Industrials
Company HQ country
Canada
Resolved clause
It is proposed that the board of directors consider means for increasing employee participation in its decision-making process. It is suggested that the findings of this thought process be documented in a report at the next annual meeting in 2023.
Supporting statement
The health and economic crisis reminded us of the importance of the health and well-being of organizations’ workforces. Some of the benefits are obvious: a higher degree of satisfaction with their employment, a greater sense of belonging, a better engagement rate, increased productivity, reduced absenteeism, lower insurance costs as well as fewer risks of industrial accidents and occupational diseases. Over the next few years, boards of directors will be facing several talent management and development issues. In the past few years, boards of directors have committed themselves to enhancing the quality of their decision-making processes by tapping into the experience and skills of as many people as possible from the full range of genders, ages, origins and religions. Although our boards of directors are made up primarily of independent directors, they lack the vision of employees who might have a different perspective of the organization’s operational and strategic issues, provide better oversight of senior executive decisions and, since employees tend to prioritize the long term, help achieve a better balance of short- and long-term decisions. In its most recent edition (2018), the UK Corporate Governance Code suggests various initiatives for increasing employee participation in the highly strategic decisions made by organizations, such as creating a formal workforce advisory panel, appointing a member of the board of directors to liaise with workers or appointing at least one employee other than the CEO to sit on the board of directors. Utterly convinced of the great value that employees’ direct and formal contributions would bring to the strategic decision-making process, especially where talent management and development components are concerned, we are tabling this proposal fully confident that the corporation will be able to propose means at the next annual meeting in 2023 that will ensure employee participation and the taking into account of their views.

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