|In Section 2:|
|Corporate Social Responsibility
Directors and officers of Barclays PLC and Barclays Bank PLC
Barclays report on
Accountability and Audit
In 2002, Barclays continued to build a high-performance culture by launching a new Performance Development system to help employees fulfil their potential.
Performance Development is designed to enable Barclays to recognise and reward top performance. It encourages dialogue between employees and their managers focusing on both results and, importantly, on the values and standards summarised in the Barclays Behaviours, also launched in 2002. The new approach was rolled out across UK operations in 2002, and is now being introduced worldwide.
Recognising the importance of developing the next generation of Barclays leaders, a 'talent model' was created to help managers spot employees with particular potential. In addition, panels of representatives from different businesses are being set up to oversee efforts to develop the organisation's most talented people.
Barclays aims to provide rewards and benefits that attract and retain talented people and stimulate high performance.
In March 2002, eligible UK employees received discretionary bonus payments under the Performance Incentive Plan (PIP), introduced in 2001. PIP bonuses are linked to employees’ individual achievements, as well as the performance of their business and that of Barclays as a whole. They help align employees’ interests with those of shareholders, ensuring that high performance is rewarded accordingly.
Barclays is committed to helping employees benefit from the Group’s success through share schemes. In 2002, Barclays repeated the offer to join the ShareSave scheme: more than 35,000 UK employees signed up and more than 70% of eligible employees now participate. ShareSave is one of the most popular schemes of its kind in the UK.
In 2002, ShareSave was introduced to the Barclays operation in Spain for the first time, and more than two-thirds of eligible employees joined.
A new share scheme, the Share Incentive Plan (SIP), was introduced in 2002 in line with the UK Government’s policy of encouraging employee share ownership. The SIP provides eligible UK employees the opportunity to buy Barclays shares from pre-tax pay. Approximately 7,000 employees have signed up.
During 2002, the Group’s range of benefits in the UK was augmented with the launch of a new childcare payment scheme under which eligible employees with children can choose to have childcare costs deducted from their salary and benefit from exemption from National Insurance Contributions. In addition, Barclays began an in-depth review of its parental leave and flexible working policies, and is due to report the outcomes in 2003.
|Making Business sense
CSR in the marketplace
CSR in the workplace
CSR in the community
CSR in the environment