b'46 Mercia Asset Management PLC Annual Report & Accounts 2022Principal risks and uncertainties continuedRisk Possible consequences MitigationThe Group may not beThe Group depends on theThe Group seeks to reduce this risk by maintaining an able to continue to retainexperience, skill and judgemententrepreneurial and inclusive working environment, or attract experienced,of staff in, amongst other things,referred to internally as #OneMercia.skilled and successfulselecting possible future successfulThe Group offers balanced and competitive remuneration Board Directors,businesses in which to invest.packages to all its staff, overseen by the Remuneration investment professionalsThe Group also depends on itsCommittee, including the potential to receive and support staff. network of deal flow introducers toperformance-related bonuses and share options. The the managed fund business. TheCommittee periodically undertakes benchmarking Groups future success dependsreviews via external remuneration consultants, the most in part on the continued servicerecent being in December 2020 to monitor and adjust, of these individuals as well as thewhere appropriate, the Groups overall remuneration, to Groups ability to recruit, retainremain competitive. and motivate additional, talented personnel. Staff welfare has been a high priority during the pandemic and our teams have risen to the challenges presented to them, allowing us to continue to operate and grow. We continue to be successful in recruiting the highest possible quality candidates and the agile working environment in which we operate is another key factor in our successful recruitment and retention of staff.Performance management systems are in place to monitor progress against objectives and development milestones, as well as core values.We have a broad training offering covering core matters, such as regulatory requirements, technical training for investment teams, as well as personal skills development, whilst also focusing on managementroles during the financial year to continue to drivehigh-performing teams.We support staff through monthly investment team meetings and all hands Zoom calls with our Chief Executive Officer and other members of the Executive Team.Our annual staff survey results are evaluated by the Board, and any issues or areas of concern, as well as new proposals from staff, are thoroughly considered and acted upon wherever possible.Mercia has grown a strong pool of talent, reducing the overall impact of any single leaver.'