Improving our workplace and our culture
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Deliver a credit union savings and loans relationship in all of our UK offices
Deliver a rental deposit product for all UK employees providing them with interest free finance in 2016
Implement a consistent global procurement code during 2016 for all our international subsidiaries
Our people are our greatest asset
Our people are dedicated and determined to give their best so we can deliver the service our customers expect. In the long term this creates long term value for our shareholders and investors while contributing to the wider society.
We believe better business decisions come from having a vibrant business that values inclusiveness and embraces difference. Our people are engaged and empowered to deliver business results because they come from a diverse set of views.
Whilst we are making good progress, we recognise we have more to do so we can achieve our goal of creating an inclusive workplace where all our employees can be themselves, realise their potential and deliver their best performance.
Owning and Measuring our Positive, Collaborative Culture
We are confident and positive about our culture and we are determined not to be complacent. Therefore it has been important to articulate the key elements of our culture so that we can embed, measure and monitor on an ongoing basis
Our progress in 2016 focused on articulating and aligning the four key elements of our culture; our purpose, our growth drivers, our business principles and our behaviours. We also launched our more inclusive ‘speak up and speak out’ line working with the Institute of Business Ethics. This provides employees a chance to critique our Strategy, Behaviours (Individuals), Business Principles (collective decision making).
In 2017 all of our leaders will have ‘owning and monitoring our culture’ as one of their performance objectives.
Our independent employee survey included all our business units, with a participation rate of 85%. One critical use of the data is to understand employees’ views about company ethics and to monitor human rights and employee attitudes within our businesses. Our worldwide Employee Engagement Index was up nine percentage points to 76%.
As a result of colleagues improving their resilience to change around the business, we have been pleased to see employee engagement levels rebound from the drop we saw in 2015.
Our data shows there is a relatively stable and high level of belief (82%) that employees agree that they understand their role in ensuring Legal & General is an ethical company. However, 13% have a more neutral opinion, which we believe provides an environment of healthy scepticism. We also were able to discover that 83% of colleagues say they feel committed to our purpose.
Health and wellbeing
Our aim is to deliver a wellbeing programme across the Group that demonstrates our commitment and consistent approach to wellbeing at work, sharing ideas and measures of success.
In the UK
Over 3,000 colleagues took advantage of our free on-site BUPA health checks. Results show exercise levels are low, and over half of the people assessed are overweight. Smoking rates are also high across those screened, with higher numbers in Hove and Cardiff.
Our wellbeing programme will focus on showing how Legal & General can help people feel well and improve their performance at work.
The ‘1 in 4’ campaign is our overarching campaign strategy for all our mental health initiatives supporting our employees. The first Mental Health First Aid courses completed at the end of December with approximately 30 first aiders now trained and able to offer support to colleagues as well as existing support systems such as our Employee Assistance Programme and our occupational health programme.
As a member of the Government’s Department of Work and Pensions Mental Health and Employment Expert Advisory Group, we continue to work to inform policy on measures needed to support good mental health in the workplace. CEO Nigel Wilson was invited to attend the Charity Commission Annual meeting at the Royal Society on 9 January 2017 where Theresa May set out her vision for a shared society, the government’s role within it and how to transform mental health support.
As a member of the City Mental Health Alliance (CMHA) we continue to work with them on sharing good practices with other members regarding supporting good mental health in the workplace.
Help our employees to be more financially resilient
During 2016 we set out to deliver two things to help our employees to become financially resilient:
1. Deliver a credit union savings and loans relationship in all of our UK offices as part of our employees' benefits package in 2016 – All of our UK offices have a credit union relationship available through payroll to save and borrow money.
2. Deliver a Shelter designed rental deposit product for all UK employees providing them with interest free finance in 2016 – This is now available to all UK employees.
In the US
The goal of the Employee Wellness Program is to foster a community where every employee is encouraged to lead a healthy and enriched lifestyle.
We encourage healthy eating and weight loss, supported through 'It’s a Weight of Life' (partnership with Weight Watchers) and the GET (Growing Effectively Together) programs.
Our annual health fair is an educational and interactive event designed for outreach to provide basic preventive medicine and medical screening to our employees at work.
Legal & General America was awarded the Gold Level Wellness at Work Award (previously The Healthy Workplace Award), on June 10, 2016.
Developing our talent
Developing our talent with our new diverse leadership programme, we’re encouraging our employees to be empowered to grow and thrive. Our new ‘Leadership Essentials' programme combines face-to-face workshops with interactive learning resources.
Each May, we hold our Learning at Work week to raise awareness of developing skills and knowledge. Our digital commitment is highlighted by our online ‘Learning Hub’, for employees to access a range of e-learning, on-line books, videos, pod-casts as well as allowing them to register for face to face workshops, training programmes and professional support. The site was accessed more than 21,000 times in 2016.
Behaviours and Performance Management
We ran a campaign to help further embed our new Behaviours into the business. This campaign gave employees the opportunity to send examples of how they and their colleagues were demonstrating the Behaviours in their roles, with the best examples featuring on our Instagram and Twitter feeds. Supporting communications consisted of videos of employees across the business talking about what the Behaviours mean to them along with intranet articles and posters.
Our ethos is to source from the best value solution available and select suppliers who best meet our business needs. We use a fair, transparent and ethical process which doesn't put up barriers to local or rural suppliers.
In 2016 we said that we would implement a consistent global procurement code during for all of our international subsidiaries. We have partially done this. There have been a number of disposals of businesses in 2016 including the Dutch and French businesses. Our priority has been to focus upon the US and UK businesses sharing common approaches to procurement. We intend to formalise this by the end of 2017.
We do thorough checks of suppliers before we begin working with them, and ask them to sign our Supplier Code of Conduct. This also incorporates the Modern Slavery Act 2015. Annually, we validate the adherence of our Key Suppliers by requesting and reviewing their supporting evidence of compliance.
We continue to engage with our suppliers around sustainability issues over time. We also help influence our suppliers to act now around the big issues like climate change.
To further proactively monitor our supply chain for Environmental, Social and Governance issues, we now use a tool which sources real news stories on over 60,000 companies, from over 120,000 news sources, in 15 languages. This tool allows us to access visibility of supply chain risks based on real data and includes flags for Modern Slavery. A watch list of all our Key Suppliers is now shared monthly with all Supplier Relationship Managers and Procurement Managers.
CIPS (Chartered Institute of Procurement & Supply) awarded our Group Procurement and Supplier Management function a corporate accreditation for Ethical Procurement and Supply for a second year running.
Exit from Kingswood location
Approximately 68% of the affected employees (855 people) are either engaged in trialling a new office location or working pattern, have chosen to follow their role, or have decided to leave. Retention is so far better than the original estimate. We expect all business divisions to exit Kingswood by the end of 2017. Legal & General Group acquired the Kingswood site as an investment property in January 2017.
New ways of working
The world is changing and we need to change with it if we want to continue to grow. New ways of working are important to our future, help us connect, collaborate and manage our costs which are all critical to our future success.
How we use our locations and office space will be an important part of our new ways of working. We want our locations to become hubs for centres of excellence across our business so we can get closer to our customers and deliver a world class service.
For example we have introduced Skype for Business, Agile working contracts and increased hotdesking areas across the group.