We create value through an environment where employees can do their best work and fulfil their potential
Capable and engaged employees serve our customers and advance our reputation, driving our commercial success.
- Leadership continuity and managerial depth
- Talent attraction, development and retention of critical skills
- Productivity through an agile culture
- Diversity and transformation
- Skilling of employees for a digital future
- Distributed leadership as a source of value
- Creating an entrepreneurial and innovative culture with greater ownership and autonomy
- Attracting and retaining quality employees in a competitive employment environment
- Building bench strength through distinctive development opportunities
- Accelerating our diversity, with a focus on gender and, in South Africa, race
- Building human resource capability for a digital world
For our employees
- A workplace where employees can do their best work
- Performance underpins the rationale for recognition and reward
- Self-led development and career progression
For the Group
- High productivity through quality employees who are engaged and retained
- A ready pool of diverse and experienced talent equipped to meet current and future needs
- Outstanding leaders who inspire workforce productivity and agility
Our new corporate strategy requires a different people value proposition, underpinned by an entrepreneurial and innovative culture which is energised by distributed leadership across the organisation. To this end, we must increase investment in building capability and strengthen our employer brand.
We consistently attract, retain and develop high-calibre individuals. Our talent and critical skills retention is the highest it has been in the past five years.
We employ 41 703LA people (2016: 41 241), of whom 39 988LA are permanent. The slight increase is driven by our investment in capability post Separation.
We have developed strong and constructive partnerships with our unions, which represent 52.0% of our workforce.
1. Distributed leadership as a source of value
We need a competent executive team and strong leadership pipeline to deliver value for our customers and clients, and sustain the confidence of our investors and regulators.
We have a seasoned, stable and diverse executive team: 36.4% are female (2016: 33.3%) and 36.4% are Black (2016: 33.3%). In line with our commitment to leadership diversity, 69.8% of promotions to senior leadership in 2017 were Black (2016: 58.1%) and 47.9% were female (2016: 36.0%).
We developed our leaders and managers with an investment of R46m (2016: R30.8m).
2. Creating an entrepreneurial and innovative culture
In early 2017 we set out to redefine our purpose, strategy and culture in collaboration with our employees. Our #ExpressYourself journey included broad employee engagement, founded on the principles of co-creation and transparency.
- All employees were invited to participate in the Gallup Survey to assess employee engagement.
- 4 100 employees were selected to complete an Organisational Health Index survey.
- 17 focus groups were held across four countries.
- All employees were invited to nominate their peers as change leaders.
- 150 senior leaders met in October 2017 to reflect on the findings of the surveys’ and to co-create our strategic intent and shape the path of change required to become a thriving organisation.
- 500 employees, nominated by their peers, joined senior leaders in November to reflect on the journey thus far and to share their feedback, concerns and hopes for the future.
Our employees (i) believe that talent management could be improved by offering more attractive career opportunities, improving career management, including development opportunities based on merit, and aligning financial incentives with the market; (ii) see the Group at times as too bureaucratic with authoritative leadership, risk-averse, and internally focused; (iii) feel that the organisation’s vision is clearly communicated and translated into clear objectives and key performance indicators at the business unit and individual level; (iv) have clearly defined operating processes and procedures; (v) believe we have the capabilities needed to achieve our strategy; and (vi) care deeply for the Group and have a strong desire to help the us succeed, despite their change fatigue.
3. Attracting and retaining quality employees
We are attracting and retaining a diverse workforce to broaden our perspectives and enhance performance. Our improving employer brand, and the pan-African opportunities we offer, underpin our ability to attract top employees. We filled 7 438 vacancies (2016: 6 771), up 9.9%, and our average time to hire improved for the fourth consecutive year, down by 9.2%, to 35 days (2016: 38 days). We have invested significantly in specialist, and senior hiring to meet our needs following the Separation, and we have filled 3 393 professional roles (2016: 2 516).
We continue to invest in our critical skills needs in technology, digital, data, and cyber security.
We have hired 843 professionals, including 71 in our cyber security team (77% Black) and 91 data professionals (80% Black).
We experienced the lowest employee turnover in five years at 8.9%. 95.4%LA of high performers were retained (2016: 93.5%), and voluntary attrition reduced to 6.4% (2016: 7.4%).
4. Building bench strength through distinctive development opportunities
Unique development and career experiences are a key component of our employee value proposition. We spent R487m on developing the technical, commercial and leadership capabilities of our employees. The 30% increase in development spend was primarily due to the launch of technical academies for developing local content to replace leadership, management, and core skills offerings that replaced those previously provided by Barclays PLC.
The new academies include: finance, risk, security, human resources, compliance, internal audit and operations. For example, we launched Compliance Career Academy in partnership with Duke Corporate Education and the University of Cape Town Graduate School of Business and we established an Internal Audit Academy to build and maintain the skills of our internal audit professionals.
Our approach to learning is employee-led and our employees benefited from a catalogue of 3 847 different learning programmes (2016: 3 152).
Following discussions on the need to develop business leaders in Africa, we collaborated with BankSeta on the Africa Expansion Programme, and launched it in South Africa. The initiative is also available to other major banks in South Africa.
Our investment in local talent is reflected in fewer assignees from Barclays PLC, down from 46 to 25. We had 117 employees on regional assignment within Barclays Africa (2016: 135) with 59 additional assignments commencing during 2017.
We maintained a healthy internal hire ratio, while investing in external skills acquisition for technology, risk, and core functional areas. 59% of vacancies were filled by existing employees, providing them with growth and career progression opportunities. Of these, 2 590 (49%) were promoted (2016: 48%), reflecting the strength of our internal talent pipeline.
We attract and develop high-potential young leaders. 85 graduates from across the continent participated in our 2017 Rising Eagles Programme (2016: 113). They join over 1 100 young professionals who have built their careers with the Group since the programme’s inception in 2008. We sponsored 2 214 (2016: 2 198) learnerships and internships in South Africa as part our continuing commitment to Shared Growth.
We developed opportunities that focus on scarce skills:
- Our Digital Academy internship hosted 125 interns, of whom 98 have taken up permanent employment.
- 15 interns participated in the Design Internship Programme, all of whom have decided to build a career with us.
- A Cyber Academy was launched which will host 20 learners in 2018.
- Eight data scientists graduated from the New York Data Science Academy, and 11 will commence the programme next year.
- In partnership with Gijima and Microsoft SA, we piloted an internship programme for African Data Science graduates.
5. Accelerating our diversity
Diversity is core to our Values, key to our commercial success and deeply rooted in our commitment to Africa. We have a distinct advantage in our wealth of diversity across Africa.
Gender parity is a global social issue, and we embed its principles into our core employee processes and practices.
Women make up 61.4% (2016: 61%) of our employees and accounted for 59% of promotions (2016: 60%). Over the last five years, our female representation in senior leadership improved from 26.2% to 34.1%LA.
In South Africa, we have also made good progress with employment equity. Over the last five years, Black representation in our senior leadership improved from 32.2% to 44.3%V.
Black employees make up 71.9% (2016: 68.4%) of our workforce and accounted for 80.8 % (2016: 82.5%) of promotions. 90% of external hires were Black (2016: 88%) and 69% of all external hires were SA African (2016: 65%). We hired significantly more SA Africans in middle management at 56% (2016: 47%). 44% (2016: 33%) of senior management hires were SA African. 88% (2016: 83%) of our 3 113 (2016: 2 361) bursary recipients, graduates and learners are Black and 59% (2016: 58%) are Black females.
More than 5.0% of our workforce is impacted by disabilities, and we support their workplace needs, including specialised facilities and technology. Our Reach Network raised awareness around disabilities through the ‘This is Me’ campaign.
Our Lesbian, Gay, Bisexual and Transgender, intersex (LGBTi) Spectrum Network spans the continent and has championed multiple initiatives, including education campaigns, pride celebrations and the launch of an LGBTi mentoring programme.
6. Building human resource capability for a digital world
As we build a digital organisation, it is important that we deliver a digital experience for our customers, clients and employees.
We are implementing Workday, a leading cloud-based human resource service, to consolidate 16 systems into a single platform that is delivered through mobile, tablet and desktop for an enhanced and intuitive employee experience.