World Monitor Magazine April 2017 - Page 61

• • • • • • • • • • • • • • • • • • • • • • • • EXPERT OPINION • • • • • • • • • • • • We can see that Kazakhstan market practices It is important to note that the process for for top management and Board members’ developing LTIPs in Kazakhstan involves certain • legal, taxation, and accounting issues, as well as HR challenges. The latter include conformity of LTIP swith market practice, specifically the level and competitiveness of remuneration, motivational outcomes of the program, and the meeting of management and shareholders’ expectations. remuneration are at an early stage of development. These issues will be critical for Kazakhstan companies that intend to achieve long-term objectives and follow international HR practices. Executive remuneration: what next?, EY UK Report, December 2016 1 supported by EUROBAK 57