Corporate Social Responsibility
From supporting local arts trails to minimising our environmental impact our aim is to ensure our actions have a positive impact on society
We have worked hard to create what we believe to be a unique working culture at Hargreaves Lansdown and our employees play a key part in developing and driving this forward. To identify our key values as a business we looked to our employees to provide real insight, which ensured the values identified were organic and not forced or artificially created. A Group-wide survey was undertaken in the year and established our values as:
- Care - put the client first
- Service - go the extra mile
- Integrity - do the right thing
- Simplicity - make it easy
- Innovative - do it better
Putting clients first
At Hargreaves Lansdown there is an embedded culture whereby the interests of clients are always put first and how they must be treated fairly. This is communicated to all employees in the business during their induction and throughout their careers. In practice, this includes elements such as ensuring that:
- All product design and information is clear and understandable
- Information and client support is available to clients after the point of sale
- Appropriate complaints handling procedures are in place
- Financial promotion and marketing practices are unbiased and appropriate for their audience.
To ensure we are getting things right with clients, we listen to them about the changes they would like to see to our services and we encourage and actively seek feedback. If clients ever feel the need to complain, the complaints handling team carefully investigates our clients’ complaint and endeavours to provide them with a fair resolution. We benchmark our performance in treating clients fairly against statistics published annually by the Financial Ombudsman Service for the industry. The results for the 2017 financial year compared to the last figures published by the Ombudsman show that Hargreaves Lansdown is achieving good results in this regard.
Going the extra mile
Ensuring our clients’ needs are met and expectations exceeded is very important and our breadth of offering means we have the ability to assist clients throughout their financial lifetime. Clients have differing financial needs and goals, but listening, finding solutions and treating them as individuals ensures we provide our clients with an exceptional personal experience.
The Group prides itself on its integrity in dealing with clients and staff openly and honestly. All employees are trained and made fully aware of anti-money laundering procedures which must be adhered to at all times. The Group takes the views of its employees very seriously and through its Whistleblowing Policy it encourages employees to raise any concerns about malpractice or wrongdoing within the workplace. All concerns are treated with the utmost confidence and in full compliance with the Public Interest Disclosure Act.
We believe dealing with us should be easy and efficient. As such, we are constantly reviewing our processes and services to streamline interactions and allow clients to conduct their business with the minimum hassle through whichever channel they choose. Information on our website is easy to find, application processes only ask for the information we really need, and if you contact us by telephone you will be put through directly to a person rather than an automated telephone system.
We continue to innovate around our clients’ needs through challenging ourselves to always deliver better solutions, better services and a better experience. From the new improved mobile experience to our new HL Select funds, we are continually delivering new ways to help clients invest.
The Group actively seeks to lobby via public consultation documents where they believe that investors in the UK will benefit. Examples during the year include:
- Working with HM Treasury on the development of the new LISA and a ban on cold calling to reduce the risk of pension fraud.
- Lobbying the DWP to give employees more control over their workplace pensions and improved access to pensions for the self-employed.
Our dedicated people are central to delivering our values and ensuring their well-being is therefore a key focus. In addition to providing competitive benefits packages and tailored learning and development programmes, we have introduced several workshops and initiatives over the last 12 months to raise awareness of and promote a healthy working environment for employees. This has included:
- Healthy Living Week - a wide range of activities were made available such as fitness classes, health MOTs, singing classes and mindfulness classes
- Healthy Minds Week - an awareness week which included workshops on mindfulness, personal resilience, mental health and nutrition
- Personal Development Week - which included motivational speakers, workshops on impact and influence and career drop-in sessions.
- We also offer an Employee Assistance Programme (EAP) which is intended to help employees deal with personal problems that might adversely impact their work performance, health and well-being.
Our people strategy
We recognise that the strength of our people is pivotal to our business and we are committed to recruiting the right talent and providing the best environment, culture, training and development for our people to flourish. We believe that our people should be proud of what they achieve together, with a strong sense of belonging to Hargreaves Lansdown and know that we recognise the crucial role that our people play in our success.
A premier destination for talented people
To attract and retain the right people we offer competitive rewards which includes independently benchmarked pay and benefits. We believe that working together as a team is key to our success and so to complement pay we include the majority of our colleagues 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 32% of eligible employees joined the 2017 scheme.
To complement the direct financial rewards we provide pension contributions and from October 2017 this includes a matching scheme (to encourage our colleagues to save for their retirement) and extended life cover. From January 2017, we introduced a flexible benefits scheme (HL Rewards) which includes health checks, extended holiday entitlements, medical health cover, health cash plan, a gourmet card and child care vouchers. Colleagues can extend their benefit selections in line with personal preferences to include such benefits as the government-backed cycle to work initiative.
To present ourselves as a premier destination for talented people we have launched a new, fully mobilised careers website which promotes our business, our values and our opportunities.
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 colleague involvement. We place emphasis on keeping colleagues informed of the Group’s activities, the macroeconomic conditions, current regulatory issues and financial performance. We do this via a coordinated internal communications programme.
We also believe it is important to listen and understand our colleagues’ views and motivation and their honest feedback is crucial in deciding our colleague engagement programme. This year we partnered with Korn Ferry to benchmark our colleague engagement against other high performing organisations and those in our industry. We were delighted to have a 78% response rate, and followed up the survey with focus groups conducted by senior managers and directors across the business.
Over 91% of employees who completed the survey feel proud of the quality of our products and services which places us 12% ahead of the external benchmarks. We also made progress year-on-year on improvements made to our pay and benefits, the development opportunities available for colleagues and the way that performance is managed. In January we announced that we will be opening HL Tech in Warsaw, Poland to increase the talent pool of skilled IT colleagues into the business.
Learning, development and communication
To continue to engage and develop our people, we have introduced a range of new initiatives. We opened the Hargreaves Lansdown Learning Academy where we house a newly extended induction programme, a career development programme, a management qualification and team building events. Over 30% of colleagues have attended team events focusing on building diverse, high performing teams. We support our colleagues in their continuing personal and professional learning and development and encourage attendance at external and internal programmes. This year we introduced a career plan for all colleagues, and an internal careers fair to promote the wide-ranging opportunities for personal growth and career development in our business. To enhance our internal communications a new team have been tasked with ensuring that key leadership messages are communicated and cascaded across the business.
Programmes for young people
We are committed to providing training programmes for young people and now offer a suite of programmes. This includes an Apprenticeship Scheme for 16–18 year olds, where young people can train with us in our IT, digital or operational teams, an industrial placement scheme for undergraduates, a graduate training programme, internships and summer work experience programme for school children. We were delighted to receive external recognition for our graduate programme by being ranked in the Top 100 companies for graduates.
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 have an Executive Committee member responsible for our diversity and inclusion programme, which ensures we have the appropriate level of focus in this area to back up our commitment with meaningful action and positive change.
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.
2017 total workforce
FTE = 1,185
As at 30 June 2017
||Other senior management †
||Total employees (FTE)
2016 total workforce
FTE = 942
As at 30 June 2016
||Other senior management †
||Total employees (FTE)
- *Company Directors consists of the Company's Board.
- † Other senior management is defined as an employee who has responsibility for planning, direction or controlling the activities of the Group, or a strategically significant part of the Group, other than the Company Directors.