Investing in our people

We’re a people business. And the world, and what people want from work, is changing.

Wellness is critical; non-work pressures matter; hybrid working is here to stay. People need new skills and variety across longer careers and expect businesses to live their values more than ever. At Rathbones, our values are common commitments; they apply across the business, and they show up in how we create value for all our stakeholders.

We are inspired by our heritage as we firmly focus on the future. Our people are strong advocates of our business and they will always be at the heart of Rathbones future growth.

We invest ‘for everyone’s tomorrow’

That means investing in learning and development and establishing the technology and physical work environments that create positive ways of working and enhance wellbeing. It means investing in career development to help colleagues deliver exceptional client service.

Our focus is on creating an environment where:

- diversity, equality, and inclusion are core parts of our identity
- colleagues can share their views and opinions about working here
- our people feel well looked after

Diversity, Equality and Inclusion (DE&I)

The diversity, equality and inclusion DE&I vision Rathbones has set is very clear: to be a business that supports and educates all our people, one that celebrates our unique strengths and empowers all individuals to thrive. It’s a reflection of the fact that we are all different. From where we grew up to the languages we speak; from how we think to who we choose to love.

We believe that by embracing our differences and diversity of thought, we can make better decisions and instil creativity and innovation into everything we do. In an ever-evolving society our current and future clients and colleagues can trust DE&I is at the core of our business. We know the full value and impact of our people is founded on an inclusive and diverse workforce. As a predominantly client-facing business, giving colleagues a sense of belonging is key to us serving our clients and delivering on our strategy.

Partners for progress

We’re proud to have five internal colleague-led inclusion networks: gender balance, race & ethnicity, abilities count, LGBTQ+ and socio-economic background, with senior level sponsors, overseen by a DE&I committee which includes executive committee sponsors and cross-functional senior leaders. Our DE&I committee provides solid foundations for real action and for positive change. It’s a critical step in demonstrating that DE&I creates opportunity for, and is the responsibility of, everyone at Rathbones.

We partner with other key organisations to continue to learn, grow and make a difference to our colleagues and underrepresented groups in society.

Progress together
As members we support sector initiatives working to ensure everyone from all socio-economic backgrounds can achieve their full potential in our industry.

Future asset
As members we are involved in initiatives that encourage high school girls in Scotland to look at the world of investment as a career option.

Armed Forces Covenant
We are signatories of the covenant to demonstrate our support for the armed forces community.

10,000 Black Interns programme
In summer 2023 we're hosting four interns within investment management; this will be the third year that we have participated in the programme.

Inclusive companies
Our membership provides access to toolkits and other best practice resources and to the Inclusive Jobs portal. Through this partnership we sponsored the National Diversity Awards 2021 and 2022.

Business Disability Forum
We became members in June 2022 and have access to subject matter expertise enabling us to better support current and future colleagues with disabilities.

Personal Investment Management and Financial Advice (PIMFA) D&I and Talent Committee
Two colleagues sit on the committee to stay informed of industry best practice, the challenges, and standards.

Women in Finance Charter
We are a signatory and committed to a target of 25% women in senior management by September 2023. As of Sept. 2022, we had 27% women in senior management.

Our responsible business update details more about what we’re doing.

Our gender pay gap

We are making ongoing efforts to create a more balanced Rathbones and we are focusing on our progress. It’s slower than we would like but we’re on the right track.

Our gender pay gap exists because of inherent issues we’re working hard to move through. The causes are historic and complex. The wealth management sector has traditionally been male dominated and the under representation of women in senior roles is systemic in our industry. We have a higher proportion of men than women in senior roles and more women than men in mid-junior roles.

As a people business, we cultivate long-lasting client relationships and value low colleague turnover. The challenge is that while we’re proud of our culture of longevity it poses challenges in closing the gender pay gap. Moving towards greater diversity, equality and inclusion is the right thing to do. As wealth in the UK diversifies, we believe in the power of finance and the industry to support economic and social growth for our colleagues, clients, and communities.

We are signatories of the Women in Finance Charter. When we signed up to that in September 2018, we had 15.6% female representation in senior management roles. As of September 2023, we have 33%. At the end of 2023, four of our ten board directors are female meeting our commitment to 40% female board representation for FTSE250 companies. We have three female non-executive directors, achieving our commitment to meet Lord Davies’s target of 25% female board representation. Across the company, we are approaching a 50:50 gender balance.

Our gender pay gap report lays out our current gender pay gap and the actions we are taking.

Culture and Engagement

The board recognises the critical importance that culture, and values, play in our long-term success, which is why our culture is set and embraced from the top. It’s shaped by our interactions with our stakeholder groups and determines how we do what we do. The board also takes time to ensure alignment of the group's purpose, values and strategy within its culture.

We take regular opportunities to listen to colleague views and opinions through our colleague engagement survey. By understanding what it feels like to work at Rathbones, our leaders and managers can take action to support and address any improvements we need to make. It’s helped us achieve an engagement score that is higher than the industry benchmark.

We also host regular company townhalls, listening sessions, and engagement sessions with our non-executive directors. By asking, listening, and doing, we’re committed to continually improving our colleagues’ experiences in work.

To find out more about our culture see the corporate governance report in our annual report and accounts.

Our responsible business update summarises how we continue to engage our colleagues.

Colleague wellbeing 24/7, 365 days a year

Colleague wellbeing is crucial. That’s why we give all our people access to wellbeing resources that help both them and their families be at their best. We offer practical support, helping people navigate critical life-events, with advice on issues like debt management, legal advice or family care. Colleagues can access emotional support or face-to-face counselling through a free and confidential employee assistance programme available on the phone or online 24/7, 365 days a year.

Responsibilities outside of work

We have support services and policies in place to help our people navigate life’s complexities, with colleague and manager toolkits to help promote everyday wellbeing at work and home. Our mental health first aiders are trained to listen, support, and help colleagues in moments of need. Health apps for coaching to help build healthier movement, mind, nutrition, and financial habits are also available.

Our responsible business update details more about how we support our colleagues.

INVESTING IN OUR PEOPLE

We’re a people business. And the world, and what people want from work, is changing.

We invest ‘for everyone’s tomorrow’

Diversity, Equality and Inclusion (DE&I)

Partners for progress

Our gender pay gap

Culture and Engagement

Colleague wellbeing 24/7, 365 days a year

Responsibilities outside of work

Let's Talk

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INVESTING IN OUR PEOPLE

We’re a people business. And the world, and what people want from work, is changing.

We invest ‘for everyone’s tomorrow’

Diversity, Equality and Inclusion (DE&I)

Partners for progress

Our gender pay gap

Culture and Engagement

Colleague wellbeing 24/7, 365 days a year

Responsibilities outside of work

Let's Talk