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Corporate Responsibility Report 2008

Reward and recognition

We offer employees a competitive salary based on industry benchmarks, as well as performance-related incentives and other benefits. This helps us to attract and retain the best people.

We particularly reward employees for innovation and good performance and we reward leaders who empower their staff.

Our pay strategy for managers is based on a programme called TotalReward that helps us recognise good performance and enables managers to share in GSK’s success. We use feedback from managers to identify the types of reward that they prefer.

Components of TotalReward include:

• Cash, including salary, bonuses and incentives (including long-term incentives for eligible employees), and recognition awards. Salaries are allocated within defined bands for different employment levels
• Savings choices such as pension provision and share schemes
• Lifestyle benefits, for example healthcare, childcare support and employee car ownership programmes

TotalReward applies to GSK managers around the world, although the component parts of an employee’s package will differ by country in accordance with local legislation and best practice.

Share ownership

Our share ownership schemes help to create a culture of ownership among our employees. In countries where share ownership opportunities exist, they are open to all employees and there is a high level of participation. For example, in the UK 67 per cent of employees participate in our ShareSave scheme, and 85 per cent in our ShareReward scheme.