How we communicate with our stakeholders
Engaging with our stakeholders and acting in a way that promotes the long-term success of the Company, while considering the impacts of our business decisions on our stakeholders, are central to our strategic thinking and our statutory duties in accordance with Section 172(1) of the Companies Act 2006. The content below constitutes our s.172 Statement, as required under the Companies (Miscellaneous Reporting) Regulations 2018.
The Board of Directors consider, both individually and together, that they have acted in the way that they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in s.172 (a-f of the Companies Act) in the decisions taken during the year. Our plan is designed to have a long-term beneficial impact on the Company and its stakeholders.
Directors’ duties and decision-making
The powers and duties of the Directors are determined by legislation and the Company’s Articles of Association. Directors are required to act in good faith in a way that they consider would be most likely to promote the success and having considered the views of the wider stakeholders of the Company. The Board factors the needs and concerns of the Company’s stakeholders into its discussions and decisions in accordance with s.172 of the Companies Act 2006. Where appropriate, the Board receives recommendations in relation to matters delegated to the Committees of the Board which conduct their work in accordance with their respective terms of reference. On occasion the Board has to make decisions where the desires of stakeholders may conflict. When this occurs, the Board will act as equitably and fairly as it is able to, taking into account the position of each stakeholder.
Shareholders
Shareholders are key beneficiaries in the value that we create. We are committed to transparent and open engagement with them.
Key areas of interest:
- Financial performance
- Dividends
- Share price appreciation
- Strategy
- Business Model
- Behaviours towards other stakeholders including in Environmental, Social and Governance areas
How we engage
Our principal means of engaging with our shareholders are through
- Communications such as trading updates, use of the Regulatory News Service (“RNS”), Annual Reports and notices of general meetings;
- One-to-one meetings with shareholders with the CEO and CFO being available to shareholders or potential shareholders and regularly meeting with them;
- Attendance at roadshow events organised by the brokers who provide analyst coverage of the Group;
- Information on the investor section of our corporate website: www.gammacommunicationsplc.com; and
- Discussions held during the Annual General Meeting (AGM).
What we have done
- Continued strategic investment both organically and through acquisition, bringing new capabilities, new geographies and new market opportunities to the Group;
- Formed an ESG committee;
- Appointed a Workforce Engagement Director;
- Appointed a Senior Independent Director who is available to meet with major shareholders, if such meetings are required;
- Further strengthened internal governance through creation of a group procurement team and an internal audit function;
- Gamma adopted the Quoted Companies Alliance Corporate Governance Code (QCA Code) in 2018, this was updated and approved by the board on 3 September 2020; and
- Improved disclosure in the annual report, including in some cases adhering to the standards of the Corporate Governance Code.
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Our People
Developing and attracting high quality talent is a key driver of our success. As of 31 December 2020, we have 1,530 employees worldwide.
Key areas of interest:
- Safe working environment
- Development and progression
- Competitive remuneration
- Diversity and inclusion
- Environmental footprint
- Workplace policies
- Collaboration
How we engage
- During 2020 Henrietta Marsh (Independent Non-Executive Director) was appointed as a Workforce Engagement Director. It is expected that the Board will consider workforce engagement at least twice a year;
- During 2020 we piloted, in the UK and Hungary, the Gamma Pulse Survey, which is conducted quarterly and provides valuable insight to senior management. This is now implemented on an ongoing basis. Results are reported to the Board who have the opportunity to shape future surveys to areas of interest;
- Monthly webcasts led by the CEO and other senior management on Company performance and activities of the Group;
- As a result of the pandemic, the large majority of the workforce has worked from home for most of 2020. A Special COVID-19 Taskforce was arranged to provide regular communication to staff; and
- New processes were set up to ensure that managers engaged more frequently and to ensure they covered general employee wellbeing.
What we have done
- Invested in our People function, including strengthening the Learning and Development teams;
- Conducted quarterly reviews of the employee engagement surveys and completed the feedback loop on any actions taken by reporting to employees;
- Supported employees to establish appropriate working conditions with appropriate equipment during the pandemic;
- Including a “people” section in our monthly board reports which focuses on key people metrics;
- Set up a new Whistleblowing facility, using external contractors, and reporting in the first instance to two Independent NonExecutive Directors, and communicated its availability to employees who wish to raise concerns;
- Formulated a plan to improve diversity and inclusion; and
- Adopted the UN Sustainability Goals as long-term objectives.
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Customers: Channel Partners
Gamma’s ethos is to provide a robust product at a fair price. Where we are selling via channel partners, we want our partner to be able to make a fair margin for the value that they are adding to the end user.
Key areas of interest:
- Innovative solutions
- Long term relationships
- Value
- Service
- Product development
How we engage
- Gamma Channel Partner Programme;
- 24/7 UK-based technical help;
- Each channel partner will have a dedicated Business Development Manager who is responsible for ensuring that they have what they need from Gamma to build their own business. Channel partners also have access to the Senior Management Team; and
- Regular in-person or in person or virtual roadshows to showcase new products and to share the development roadmap.
What we have done
- Through the Gamma Channel Partner Programme, we offer a suite of additional training resources – The Gamma Academy. These resources, tools and information are all accessible online. The programme has been designed to help channel partners reach into the marketplace by increasing the knowledge base and partner expertise. It also creates a deeper, more collaborative relationship with Gamma; and
- Introduced a "COVID-19 Support Package" for our UK channel partners, which allowed them to hibernate customers (i.e. temporarily pause their contracts) or to provide homeworking capability without charge from Gamma.
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Customers: End Users
To provide reliable, innovative products and services that meet the needs of the end users.
Key areas of interest:
- Product quality
- Product availability
- Produce cost
How we engage
- We assign customer service managers to each account giving a consistent point of contact within Gamma;
- We offer 24/7 support through our support team;
- The support infrastructure is co-located, meaning that end users get through to the right person to handle the query; and
- Gamma offers a service scheme to allow customers to choose the level of service required to match the right support in place whatever the end customer needs
What we have done
- Our Direct business unit (in the UK) organises an annual conference for our customers which allows them to stay in touch with the senior team at Gamma as well as to share knowledge with their peers.
- In our Direct business we have continued to develop our online sales and support platform in line with our strategic plan.
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Suppliers
Developing strong operational relationships is key to success.
Key areas of interest:
- Social and ethical impact
- Payment practices
- Long-term partnerships to develop innovative products and solutions
How we engage
- We partner with key suppliers to ensure that we have common goals and strategy;
- We ensure responsible procurement, through the Board approved policy; and
- Gamma’s supplier payments policy is to always pay suppliers on or before the agreed term (which will vary from contract to contract).
What we have done
- During the year we have established a Group procurement function to ensure best practices are applied across the Group.
- Annual approval of the Modern Slavery Statement by the Board.
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Regulators
We operate within the requirements of a regulated industry.
Key areas of interest:
Ofcom’s duties are set out in the Communications Act 2003.
Its primary duties are:
- To further the interests of citizens in relation to communications matters; and
- To further the interests of consumers in relevant markets, where appropriate, by promoting competition.
How we engage
- Engagement with Ofcom both formally and informally.
- Participation in consultation responses as a Group or as a member of industry bodies.
What we have done
- Defend the Channel – we recognise that many channel partners are SMEs who do not always have the resources to engage with regulatory bodies;
- Give a voice to businesses – regulation is often aimed at protecting the domestic consumer but with unintended consequences when applied to business users;
- Challenge the cost assumptions of implementation – these can be underestimated; and
- Ensure that regulation stays current – to help provide adequate protection for end users.
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Communities
We have a duty to conduct business in a responsible way that aligns with our purpose and values.
Key areas of interest:
- Environmental and social impact
- Improving quality of life
- Protecting people
- Diversity and Inclusion
How we engage
- We are committed to supporting the communities in which we are based and are enhancing our charitable giving plan.
What we have done
- Supporting communities via financial donation including a matching scheme for funds raised by employees;
- Supporting through time donated, where employees are given one day a year to help support their chosen charity;
- Formulated a plan to improve diversity and inclusion; and
- Formed an ESG committee and improved reporting in this area.
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Also in this section
Market trends
Gamma provides business communication services that are flexible, scalable and secure to meet today's and tomorrow’s challenges.
Business model
Supporting business acceleration.
KPIs
The assessment of our KPIs, their link to our strategy, movement in the year and their progression.