The essence of Corporate Governance at Paramount is to not only allow the Management the freedom to propel the Company forward but to exercise that freedom within a governance framework that assures transparency, accountability, effective operational control and management of risk as well.
Corporate Governance: Guiding Principles
- Establish a solid foundation for management and oversight of the business – recognize and publish the respective roles and responsibilities of Board and Management.
- Structure the Board to add value – have a Board of an effective composition, size and commitment to adequately discharge its responsibilities and duties.
- Actively promote ethical and responsible decision-making.
- Safeguard integrity in financial reporting – have a structure to independently verify and safeguard the integrity of the company’s financial reporting.
- Promote timely and accurate disclosure of all material matters concerning the company.
- Respect the rights of shareholders and facilitate the effective exercise of those rights.
- Establish a sound system of operations management; Risk management and long term Value Creation.
- Fairly review and actively encourage enhanced Board and Management effectiveness.
- Remunerate fairly and responsibly. Ensure that the level and composition of remuneration is sufficient and reasonable and that its relationship to corporate and individual performance is defined.
- Recognize the legal, financial and other obligations of all legitimate stakeholders.
Providing great experiences for our customers is something we strive to do every time we interact with them. Employees are encouraged to resolve issues and complaints using their own expertise and tools available to them. If they are unable to resolve the complaint they refer it to a central team who coach staff to deal with simple complaints over the phone or take from them the more complex ones. This approach has seen a significant improvement in the speed with which we address complaints, as well as the quality of the resolution and the number of complaints outstanding.
Our responsibilities to our customers mean we will:
- Improve our products based on real life feedback, and not assumptions
- Look for opportunities to improve, enhance or increase the range of products and services we offer
- Continue to add value to our service contracts
- Work closely with our Business Partners to make sure they’re able to provide outstanding support to our mutual customers
- Make sure we don’t take our customers for granted
We aim to be completely focused on our customers by:
- Looking at and always finding ways to improve our customer satisfaction scores
- Listening to what customers think and changing what we do to help them
- Making it easier for customers to work with us by improving communications, systems and the information we provide
We are committed to doing business with organizations that share our commitment to treat all stakeholders fairly and ethically. We have a responsibility to balance the needs of our business with those of the businesses who rely on our contracts and cash.
Through our vendor management procedures we aim to treat our vendors fairly and we require all staff negotiating with vendors in a fair manner to ensure our activities are professional, unbiased and avoid conflicts of interest. Our aim it so to manage vendor relationships, from the initial investigation stage through to ongoing partner management. We aim to adopt and maintain high standards of honesty, integrity and ethics such as declarations of interest, confidentiality and business gifts.
We do this by:
- Continuing to monitor our relationships with vendors and treat them fairly
- Supporting our vendors and appreciating their expectations as well as ours
- Providing timely feedback to our vendors throughout RFP submission processes and working relationships
- Support local vendors so as to improve and develop the communities in which we live and work
We treat them how we’d like to be treated, ethically and with respect by:
- Handing out hints, tips and advice where we can
- Building our relationships on openness, honesty and integrity
- Basing our decisions on quality, service and price
- Monitoring service levels
It is our skilled and dedicated employees and their ability to deliver outstanding customer experience that distinguish us from our competitors and make Paramount great.
The People Strategy
Paramount Human Resources Strategy – the People Strategy – emphasizes that for Paramount to reach its goals our employees need to reach theirs. This means that Paramount has to provide opportunities for our people to grow and live well-balanced lives.
Balance in Life
Paramount recognizes that sound business and a value driven working environment create great results. Our focus on health aims at identifying and strengthening the factors that enhance a healthy working environment for our employees. At Paramount we recognize that people have different needs at different stages of their lives, and it is important to strike a balance between work and leisure.
We ensure this in different ways, taking into account local conditions, rules and regulations.
We strive to create flexible working conditions on a day-to-day basis.
We offer our employees access to health services, with thorough health check-ups as well as favorable terms for leaves of absence.
ETHICAL SUPPLY CHAIN
Paramount holds itself to the highest legal and ethical standards for data privacy and security. Customers trust us to manage their corporate and customer data responsibly and protect it from unauthorized access or use by any individual. Paramount places the utmost importance on maintaining this trust. To ensure this, the company has a stringent set of guidelines in place that are summarized in the company’s Code of Ethics and Business Conduct.
Paramount has multiple security measures in place to protect its systems from unauthorized access and data theft. Those security measures ensure that no unauthorized individuals can gain data access. These security measures apply to employees of Paramount and Paramount’s partners, vendors and customers. Paramount complies with all customer guidelines and policies around data privacy and security.