Congeco Inc. | Increase Workfoce Engagement in Highly Strategic Decisions at Cogeco Inc.

Status
0.69% votes in favour
AGM date
Previous AGM date
Proposal number
2
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
Telecom
Company HQ country
Canada
Resolved clause
It is proposed that the Board of Directors look into various means to increase workforce engagement in its decision‑making process, including by considering the addition of a director from the workforce (other than the President and Chief Executive Officer), and that the conclusions of this study be reported on at the next meeting of shareholders to be held in 2023.
Supporting statement
The public health and economic crisis has highlighted the importance of the health and well‑being of the workforce for any organization. We need hardly remind you of the many benefits of a healthy workforce: a higher degree of job satisfaction, a stronger sense of belonging, a higher rate of engagement, increased productivity, a lower rate of absenteeism, lower insurance costs and a decrease in work-related injuries or illnesses. In the next few years, boards of directors will have to address several issues pertaining to talent management and development. These past few years, boards of directors have made it their duty to enhance the quality of their decision‑making process by recruiting directors with different experiences or skills and, as much as possible, people of all ages, genders, origins and religions. Even though most boards of directors are now comprised of independent directors, they still lack the vision of members from the workforce who would consider matters from a perspective other than the operational and strategic issues of the organization, bring enhanced oversight of the decisions made by executive officers and improve the balance between the short and long term consequences of the decisions that are made, employees having a tendency to focus on the long term. The UK Corporate Governance Code, in its most recent edition published in 2018, suggested various initiatives to increase workforce engagement in highly strategic decisions made by their organizations, including the following: the creation of a formal workforce advisory panel, the designation of a director who would act as a liaison officer with the workforce or the nomination of at least one person from the workforce (other than the President and Chief Executive Officer) as a director. Aware of the importance of the contribution of employees in highly strategic decisions that involve significant aspects of talent management and development, we are filing this proposal, confident that you will be in a position, at the 2023 annual meeting, to propose means to promote workforce engagement and thus strengthen the “employee voice” in the boardroom.

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