Employment diversity and equality
We are committed to maintaining a diverse workforce at all levels and believe that diversity is a broad issue encompassing variations in experience, skills, age and background as well as more traditional diversity factors such as ethnic origin and gender. Commercially and for best practice reasons we are an equal opportunities employer and believe that to succeed as a business we need to make the most of the potential of our people whoever they are. We have Human Resource policies in place to attract a diverse workforce and once working with us our people can expect to develop in an environment that is free from discrimination or harassment.
We give full consideration to applications for employment from disabled persons, where the candidate’s aptitudes and abilities are consistent with meeting the requirements of the job. If members of staff become disabled the Group continues employment, either in the same or an alternative position, with appropriate retraining being given if necessary. A full assessment of any disabled employee’s needs is undertaken and reasonable adjustments are made to the work environment or practices in order to assist them.
As at 30 June 2016, the Group employed a total of 942 people, of which 658 are male (70%) and 284 are female (30%). The gender split at different levels within the organisation is shown in the table below.
- Company Directors consists of the Company Board
- Other senior management is defined as an employee who has responsibility for planning, direction or controlling the activities of the company, or a strategically significant part of the company, other than the Company Directors.
A premier destination for talented people
To attract and retain the right people we offer a competitive reward package which includes independently benchmarked pay and benefits. We believe that working together as a team is the key to our success and so to complement our salary structure we include over 85% of our employees in a Group bonus scheme, linked to the financial success of Hargreaves Lansdown and distributed on an individual performance related basis identified via a performance appraisal system. To encourage employees to share in the success of our business we offer immediate entry into our SAYE scheme and over 40% of eligible employees joined the 2016 scheme.
To complement the direct financial rewards we provide pension contributions and life cover. From January 2017 we are introducing new benefits including health checks, extended holiday entitlements, medical health cover and health cash plans. Employees can also extend their benefit selections in line with personal preferences to include such benefits as the government backed cycle-to-work initiative.
Engaging our people
It is crucial that our people understand our priorities and are engaged in the development of our business. Hargreaves Lansdown actively encourages employee involvement and consultation and places emphasis on keeping its employees informed of the Company’s activities, macroeconomic conditions, regulatory issues and financial performance by such means as six-monthly presentations given by the Chief Executive, the employee intranet and publication to all staff of relevant information and corporate announcements.
We believe that listening and understanding our employees’ motivation and feedback is crucial in deciding our employee engagement programme. This year we partnered with the Hay Group to benchmark our employee engagement against other high performing organisations and those in our industry. We were delighted to have a 72% response rate, followed up with focus groups comprising 15% of employees.
Over 90% of employees who completed the survey feel proud of the quality of our products and services, our focus on clients and would recommend Hargreaves Lansdown to friends or relatives. All three areas placed us between 13% and 19% ahead of the external benchmarks.
In terms of work in progress we need to set out career, training and reward structures more clearly and improve our internal communications.
Learning, development and communication
To continue to engage and develop our people, we have introduced a range of new initiatives: a Learning and Development team, a learning curriculum, management qualifications and will open the Hargreaves Lansdown Learning Academy (due for completion in autumn 2016). We support our employees in their continuing personal and professional learning and development and encourage attendance at external and internal programmes. This year we piloted a leadership development programme for our senior colleagues and our Executive Team to encourage broader business wide thinking and build the skills to develop high performing teams. To enhance our internal communications a new team have been tasked with ensuring that key leadership messages are communicated across the business.