Great place to work

Reward and recognition

Our success depends upon the performance and commitment of talented employees at all levels. Guided by the Group’s remuneration policy, our reward programmes support our strategy and reinforce the Bank’s values. The remuneration policy is designed to:

  • Support a Group-wide performance-orientated culture, ensuring that individual rewards and incentives relate directly to the performance and behaviour of the individual, the operations and functions in which they work or for which they are responsible, the Group as a whole and shareholders’ interests
  • Maintain competitive reward that reflects the international nature of the Group and enables it to attract and retain talented executives of the highest quality. Many of the Bank's employees bring international experience and expertise and our approach recognises that we recruit from an international marketplace

The Group adopts a similar approach to reward regardless of location, business or seniority. For example, employees’ base salaries are determined in a similar way to those of executive directors. The Group’s approach is to ensure that target total compensation is benchmarked to the relevant market in which the individual is employed. Potential total compensation is set at upper quartile or higher for excellent individual and business performance.

In 2008, the Bank conducted a broad review of reward. One important change resulting from the review, which has since been implemented, is the introduction of a new Group-wide deferral arrangement that covers all employees (including directors) with a proportion of annual performance-related pay above a certain threshold level being deferred into shares for up to three years rather than solely as a cash bonus. One feature is a series of progressive rates of deferral, i.e. the higher the performance bonus award, the greater the level of deferral. In implementing this deferral mechanism we aim to drive sustainable performance from our employees, aligning with our shareholders’ long-term interests.

Highlights

  • 73,800members of staff
  • 125nationalities represented across the Bank
  • Over 9,900managers attended the Great Manager Programme
  • 56Diversity and inclusion champions across the markets