Responsible business Supporting our people
Disabled employees We welcome applications from people with disabilities and we ask all candidates if they require any adjustments to the recruitment process so that they can perform at their best at interview. In the event of employees becoming disabled during their employment, every effort is made to ensure that their employment with the Group continues and that the right level of support and training is arranged. It is the policy of the Group that training, skill and career development, and our promotion processes must, as far as possible, be the same for disabled persons as that for other employees. Gender Pay Gap In April 2024, we published our gender pay gap report, which reflected the remuneration paid to our UK-based employees within the reporting period up to 5 April 2023. This year’s results saw an increase in our median hourly gender pay gap which is the measure that is the most reflective of balanced gender representation at all levels of the business. We understand the reasons for this and know that our pay gaps are caused by low levels of female representation in our higher-paid commercial roles. This is an issue common to the wider wealth management industry and we are addressing this by ensuring that our talent programmes that feed these career pathways are gender- balanced from the outset.
In September 2023, we were delighted to welcome a gender-balanced intake of front office graduate trainees who we hope will grow their careers with us. Flexible working and wellbeing We take a flexible approach to working which we see as an important factor in attracting and retaining the best talent, and a key enabler to improving diversity, equity and inclusion. We are focused on empowering our leaders and our people to work in the way that enables their teams to be at their best, to deliver exceptional service to our clients, and ensure our people are provided with opportunities for learning, collaboration, and innovation.
Our Inclusive by Design principles guarantee that the vast majority of benefits are consistent across all employees, regardless of role and seniority. For example, this year we increased holiday entitlement to 30 days for all full-time employees and standardised pension contributions. Employee engagement in Company share ownership remains strong, with over 60% of eligible employees participating in our Sharesave schemes. This demonstrates a collective commitment to both work towards and share in the Group’s success. To ensure our pay is fair and competitive, we conduct annual benchmarking and assess individual contributions through a collaborative performance management approach. New roles are benchmarked during the design, and all salaries and total compensation are reviewed annually. Our discretionary bonus scheme is a key element in attracting, engaging, and retaining talent. It is designed to align with our strategic and commercial goals, regulatory best practice, and the needs of our clients. Our guiding principles ensure that bonuses are awarded based on appropriate behaviours and non-financial performance. In addition to pay and benefits, we celebrate individual and team successes, recognising and honouring achievements to foster a supportive and motivating working environment.
Recognising and rewarding our people
We prioritise supporting our people to be their best for our clients, shareholders, families, and the communities we serve. We understand that caring for our employees’ wellbeing, offering competitive rewards, and providing compelling opportunities are crucial elements in this. We continuously review our total rewards package to ensure it meets the evolving needs of our employees. This includes policies on holiday and family leave that help our staff stay energised and productive, as well as providing insurances and other products with leading levels of benefit and coverage.
48 Brooks Macdonald Group plc Annual Report and Accounts 2024
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