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Employee benefit expense

12 Months Ended

Dec. 31, 2023

A9. Employee benefit expense

Profit-sharing and bonus plans

The Group recognises a liability and an expense for bonuses and profit-sharing, based on calculations of achievements of financial performance targets and the best estimate of the obligation to employees related to personal performance criteria being achieved. A liability is recognised where a contractual obligation exists or where past practice indicates that there is a constructive obligation to make such payments in the future.

Holiday pay

Paid holidays are regarded as an employee benefit and as such are charged to the income statement as the benefits are earned. An accrual is made at the balance sheet date to reflect the fair value of holidays earned but not yet taken.

Termination benefits

Termination benefits are payable when an employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognises termination benefits when it is demonstrably committed to either: terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal; or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due more than 12 months after the balance sheet date are discounted to present value where the effect of discounting is material.


	2023	2022	2021
	£m	£m	£m
Wages and salaries¹	2,318	1,582	1,225
Social security costs	171	154	138
Share-based payments	27	17	10
Pension costs:
– defined contribution plans	32	22	31
– defined benefit plans	2	2	1
	2,550	1,777	1,405

1.Including £44m staff costs reported as one-off and adjusting items in Note A1 (2022:£41m).

Monthly average number of people employed by the Group during the year:


	2023	2022	2021
	Number	Number	Number
Processing and service delivery	47,387	38,256	34,163
Sales and marketing	7,501	5,993	5,400
Administration and overheads	8,663	7,226	6,468
	63,551	51,475	46,031

Emoluments of the Directors of Rentokil Initial plc are detailed below.


	Highest-
	paid	Other
	Director	Directors
	£000	£000
2021
Aggregate emoluments excluding share options	2,661.2	1,444.0
Aggregate gains made by Directors on exercise of share options	916.3	370.6
Aggregate amount receivable under long-term incentive schemes	3,340.0	145.9
	6,917.5	1,960.5
2022
Aggregate emoluments excluding share options	2,698.7	1,557.5
Aggregate gains made by Directors on exercise of share options	—	233.8
Aggregate amount receivable under long-term incentive schemes	831.9	380.3
	3,530.6	2,171.6
2023
Aggregate emoluments excluding share options	1,942.3	1,188.4
Aggregate gains made by Directors on exercise of share options	3,729.4	—
Aggregate amount receivable under long-term incentive schemes	1,397.6	485.3
	7,069.3	1,673.7


	2023	2022	2021
	Number	Number	Number
Number of Directors accruing retirement benefits
– defined contribution schemes	—	—	2
Number of Directors exercising share options¹	1	1	2
Number of Directors receiving shares as part of long-term incentive schemes	2	2	2

1.	The highest-paid Director exercised 971,802 (2022: nil; 2021: 163,625) share options during the year.