Corporate responsibility

Transcription

1 84 Phoenix Group Holdings Annual Report and Accounts 2012 At Phoenix Group we are committed to managing our business in a responsible manner, taking seriously the impact we have on our employees, our stakeholders, the communities in which we operate and the wider environment. We believe that operating responsibly creates value for our business through building the trust and confidence of our stakeholders. Lucy Symonds, Corporate Responsibility Manager Corporate In this section 85 Corporate 85 Environment 86 Workplace 87 Community 88 External stakeholders

2 Corporate Phoenix Group Holdings 85 We are delighted with the new links we have forged during the year, be it with other businesses, charities or educational institutions. These together with existing relationships are helping to shape where we go with our corporate offering, so together we are making a difference in the communities in which we are based. Governance Corporate ( CR ) is sponsored at the highest level by the Group Chief Executive Officer. A CR Working Group, including two Executive Committee members, meets quarterly to discuss CR activity from across the Group. All staff can access the Group s CR Policy and accompanying Code of Business Ethics and Ethical Conduct, and complete annual refresher training in this regard summary Following a Group-wide employee CR survey in 2011, it was communicated that the focus for 2012 would be to raise the profile of CR internally. Considerable progress was made during The 2012 CR survey revealed positive scores in relation to the internal promotion of CR, increased understanding and commitment from staff, and an appreciation of a collective to ensure that the Group remains sustainable into the future. The Group employed over 1,200 staff at the end of The Group s core sites are Wythall, near Birmingham, Glasgow, and two offices in London. CR is reported collectively, however initiatives are driven by site, and relevant to the local community. CR is categorised and reported in four areas: Environment, Workplace, Community and External stakeholders, similar categorisation to that used by Business in the Community ( BITC ). The Group has continued its membership with BITC, and values the support and resources it makes available. The Group completed the Responsible Business Check-up and achieved an improved score on the previous year s submission, demonstrating the successes achieved on the CR programme during the year. Environment our commitment to monitoring and reducing our environmental footprint The Group s environmental impact is relatively low, when compared to other industry sectors. However, it is accepted that steps can be taken to further reduce this impact. The Group has forged links with Cass Business School, part of City University London. One of Cass s MBA students undertook an internship within the Group, to work on a real-life business project focusing on environmental reporting. The Group subsequently launched an Environmental Statement and Environmental and Sustainability Tracker for its core sites, measuring energy consumption, print statistics, and a variety of recycling data. Once the Group has tracked a full year, measures can then be put in place to identify areas for improvement. During the year, a facility named The Link was launched which provides information about the CR programme. The facility promotes the 3Rs Reduce, Re-use and Recycle, and includes a book swap facility, and various recycling options. This has proved very popular and the proceeds actively support local charitable fundraising. In 2011 the Group committed to sourcing paper from sustainable, managed forests. This is paper that has been accredited Programme for the Endorsement of Forest Certification ( PEFC ) and Forest Stewardship Council ( FSC ). The Group achieved this, and reduced the number of suppliers in this area. In addition to the costsaving and environmental benefits, this simplifies the supply chain and reduces the quantity of invoices and deliveries. The Group s IT system has gone through a period of transition and we have moved to a new service provider. Newly installed printers are eco-friendly, consume less energy, and produce lower CO2 emissions. Print statistics are being tracked, and employees are reminded of the environmental impact of printing. Video conferencing facilities have been improved at all sites, reducing the extent of business travel, and a conferencing facility has opened at Wythall lessening the need for hiring offsite meeting facilities. Staff will shortly have the added benefit of instant messaging and teleconferencing facilities available from their desktops. All former IT equipment has been re-used, recycled or disposed of via a registered Waste Electrical and Electronic Equipment scheme.

3 86 Phoenix Group Holdings Annual Report and Accounts 2012 Corporate continued Workplace how we treat our employees, including how we attract, develop and retain the best talent The Group was voted one of Britain s Top Employers 2012, which is a certification awarded only to organisations that meet the highest standards in Human Resources policy benchmarking. Companies awarded this accreditation are independently recognised as being amongst the best companies to work for in the UK. A one-day CR event, focusing on employee wellbeing was held at the Wythall site. It included a low-impact exercise class, free cholesterol testing and blood pressure monitoring, and access to an array of information on diet, health and exercise. Employee engagement and benefits 96% of employees participated in the 2012 employee survey, which achieved an overall employee engagement index of 73% (2011: 74%). 39 questions were asked, and when ranked against either the Financial Services or Private Sector benchmarks, the Group achieved 32 questions which were either equal to or above benchmark. The Group values the contribution its employees make to the business, so in return offers a wide range of policies and benefits, designed to attract, develop and retain the best and most talented individuals. Staff have access to: A robust reward and remuneration framework, ensuring market-related pay whilst enabling flexibility to recognise individual contribution; A flexible benefits scheme for Phoenix Group and Life employees involving 24 options. Last year 80% of staff opted for at least one benefit. Ignis has a similar scheme in operation. Alongside this, staff can sign up to Give as you Earn, to donate a portion of their monthly salary to charitable causes; A Share Save Scheme and / or Share Incentive Plan. At the end of 2012, 53% of staff participated in the Share Save Scheme, and 22% of eligible staff participated in the Share Incentive Plan; An Annual Incentive Plan. Phoenix Group and Life reward both personal and Company performance. It looks at what has been achieved by the individual, and how they achieved it. The weighting of personal versus Company performance varies by grade. This scheme is discretionary and does not form part of an individual s contract. A similar plan is also in operation within Ignis; A recognition scheme within Phoenix Group and Life actively encourages and recognises performance that is above and beyond an individual s remit, or considers the manner in which they conducted a piece of work worthy of recognition; and An employee assistance scheme within Phoenix Group and Life, which incorporates legal, financial and medical assistance. The Group supports a range of flexible working arrangements, both formal and informal, including homeworking. In a recent employee survey 80% of respondents agreed with the statement, My work-life balance is acceptable to me against a Financial Services benchmark of 73%. Employee metrics The Group employs a diverse workforce as evidenced by the percentage of ethnic minority employees compared to our peers, and relatively high numbers of female employees compared to the financial services sector as a whole. The Group recognises the importance of continued staff development and manages a variety of external and in-house training programmes, ranging from induction, through to coaching and leadership skills. Voluntary staff turnover and absence rates compare very favourably with industry benchmarks. New starter survey responses continue to generate positive results, an example being 95% of respondents agreeing with the statement I would tell people this is a great place to work, against a Financial Services benchmark of 61%.

4 Phoenix Group Holdings Total staff across all sites 1,229 1,394 1,298 Total full time equivalent across all sites 1,191 1,351 NC Workforce that is of non-white British origin 16% 11% 13% Workforce that is female 44% 40% NC Staff turnover (employees choosing to leave voluntarily) 7.1% 7.5% 9.9% Annual new starter turnover (employees leaving voluntarily within 12 months of starting) 10% 10% 13% Percentage of days lost through sickness 1.8% 1.4% 1.3% Percentage of employees sponsored on a professional qualification 25.2% 22.6% 17.4% Total number of external staff training days 2,266 1,961 NC Total spend on external staff training 0.7m 1.1m NC NC not collected Community the contribution we make to the communities in which we operate and our obligations to the broader society The Group continues to work with existing contacts, whilst forging new links with local charities, educational establishments and youth groups to give greater support to the communities in which we are based. Charitable donations The Group actively encourages its staff to support local charities, and makes clear the types of charity it will support, and those with which it does not actively engage. The Group does not support any religious or political causes. It primarily supports local charities that are registered in the UK, and which are chosen by employees. Charitable donations include: staff fundraising events held at our offices matched donations for employees participating in charitable activity donations to selected causes. Additional information on all staff fundraising activity is included within the CR section of the Group website, together with charity partner information. During 2012, over 80,000 was donated by the Group to charitable causes. In addition, 23,000 was raised through fundraising activities onsite. Due to the number of causes supported, details are only provided on the largest donations and any Groupwide activity. Staff at the Wythall site voted to support the Willow Foundation as part of an extended fundraiser, which was aptly named Challenge 2012 in the spirit of the year s wider sporting achievements. In excess of 25,000 was raised. Staff were involved in various challenges, ranging from a static triathlon, a mile run around the site, a bike ride from Wythall to the London office, and participation in the Bupa Great Birmingham Run. Willow provides positive and lifeenhancing special day experiences for seriously ill year olds. In lieu of sending printed Christmas cards, the Group donated 5,000 to the Anthony Nolan charity. This charity was chosen by way of a Group-wide staff vote. Anthony Nolan charity saves the lives of people with blood cancer by matching donors who are willing to donate their blood stem cells to people who need lifesaving transplants. Two fundraising events were supported Group-wide, engaging staff across all business divisions. Movember raised awareness and funds for men s health partners Prostate Cancer UK and Institute of Cancer Research. In excess of 7,500 was donated by the Group. Macmillan Cancer Research coffee mornings were also held during September at offices in Glasgow and London, raising 2,500.

5 88 Phoenix Group Holdings Annual Report and Accounts 2012 Corporate continued Volunteering Staff at the Wythall office participated in BITC s national day of employee volunteering, named Give and Gain, which involved 10,091 employees from 202 companies. The Group has recently partnered with the Credit Action charity to roll out their financial education training to year olds at schools within the vicinity of Wythall. 20 members of staff have been trained, and will visit schools from March 2013 as part of the year-long volunteering programme. Community links Ignis staff in Glasgow have forged close links with Glasgow Arts School. Activities have included resident artist Anna Sundt producing artwork for the workplace, and student mentoring. A staff photography competition took place with12 winning entries being included in a 2013 charity calendar. Proceeds from calendar sales were donated to Yorkhill Children s Foundation a charity providing medical equipment and resources to sick children and babies being treated at Yorkhill Hospital within NHS Greater Glasgow and Clyde. Ignis plans to continue its support over the next few years by raising funds for a new play and dining room at the new children s hospital, part of the New South Glasgow Hospitals Project. From the Wythall site, support has continued with Wythall Community Association, and 3,000 was donated to a local Scout Group to assist them with extending their Scout HQ, within Wythall Park s grounds. In December, links were forged with a local hotel and Age UK branches in Redditch & District, Solihull and Bromsgrove & District to offer Christmas lunches for their clients and support workers. Three lunches were paid for and co-ordinated by the Group with around 320 attending. External stakeholders our relationships with customers, investors, lenders, outsource and other business partners, suppliers, regulators, Government and the media Customers The Group continues to recognise the it has to all customers. In today s difficult financial climate it remains committed to providing a safe and helpful environment upon which customers can rely. A programme of customer research continues in particular telephone surveys are used which reach an average of 1,500 customers each month. The results are positive, with customers scoring all aspects of service highly. Research of this type is invaluable as it helps the Group provide a responsible, fair and helpful service, and creates an opportunity for customers to recommend improvement. The launch of the renewed customer-facing website has benefitted customers since they view the site as a channel where they can contact Phoenix when it suits them, in order to obtain information about products and services. It also provides customers with valuable information across some of the key lifecycle events, such as planning for retirement and saving, as well as providing downloadable how to guides. The Group is a corporate member of the Plain English Campaign, demonstrating its commitment to provide customers with communications that are fair, clear and not misleading. The All Formats charter mark is referenced on customer communications, highlighting that information is available in alternative formats, such as large print, Braille, on cassette or CD. The Group treats all customer complaints seriously and aims to ensure fair and prompt treatment. Ownership of each complaint is clearly identifiable, with trust and confidence being built throughout the process.

6 Phoenix Group Holdings 89 Procurement During the year, the Group signed up to the UK Government s Prompt Payment Code. The Code was introduced four years ago, with the aim of transforming the culture of late payment in the business community. The Group undertakes to pay suppliers on time, provide clear guidance to suppliers, and encourages good practice. The due diligence process for suppliers has been enhanced and now includes Health and Safety, Information Security and CR criteria. At the Wythall site the procurement of consumables for the staff restaurant continues to support local businesses as part of its buy local initiative. Media The Group continues to keep local media up-to-date with CR initiatives and fundraising, which helps to raise awareness of the Group in the communities in which we are based. Investors Investors are kept informed of the Group s financial results and announcements with regular communications through the Investor Relations team. Responsible investment The Group continues to support the principles of good stewardship as set out on Ignis website The Group takes its responsibilities seriously and considers the environmental, social and governance procedures of any companies in which it invests. Conclusion We continue to be committed to our CR agenda, and seek to remain a responsible organisation and employer in the communities in which we are based. For more information on the Group s CR programme, please contact Lucy Symonds, Corporate Responsibility Manager, at corporate@thephoenixgroup.com