Barclays 2006 Annual Report Download - page 53

Barclays PLC
Annual Report 2006 49
Operating review
1
Staff costs
2006 2005 2004
£m £m £m
Salaries and accrued incentive
payments 6,635 5,036 4,098
Social security costs 502 412 339
Pension costs 410 347 327
Other post-retirement benefits 30 27 29
Other staff costs 592 496 434
Staff costs 8,169 6,318 5,227
2006/05
Staff costs increased 29% (£1,851m) to £8,169m (2005: £6,318m).
The inclusion of Absa contributed staff costs of £694m (2005(a):
£296m). Group staff costs excluding Absa rose 24%.
Salaries and accrued incentive payments rose 32% (£1,599m) to
£6,635m (2005: £5,036m), principally due to increased performance
related payments and the full year inclusion of Absa. The inclusion of
Absa contributed salaries and incentive payments of £615m (2005(a):
£276m). Group salaries and accrued incentive payments excluding
Absa rose 26%.
2005/04
In 2005, staff costs increased 21% (£1,091m) to £6,318m (2004:
£5,227m). The inclusion of Absa added staff costs of £296m during
the second half of the year. Excluding the impact of Absa, staff costs
increased 15%.
Salaries and accrued incentive payments rose 23% (£938m) to
£5,036m (2004: £4,098m), principally due to increased headcount
in Barclays Capital and performance related payments primarily in
Barclays Capital and Barclays Global Investors and the inclusion of Absa.
Excluding Absa salaries and accrued incentive payments of £276m,
salaries and accrued incentive payments rose 16% (£662m).
Staff numbers
2006 2005 2004
UK Banking 41,100 39,800 41,700
UK Retail Banking 33,000 32,000 34,500
UK Business Banking 8,100 7,800 7,200
Barclaycard 8,600 7,800 6,700
International Retail and
Commercial Banking 48,000 45,400 12,100
International Retail and
Commercial Banking – ex Absa 14,100 12,700 12,100
International Retail and
Commercial Banking – Absa 33,900 32,700 –
Barclays Capital 13,200 9,900 7,900
Barclays Global Investors 2,700 2,300 1,900
Barclays Wealth 7,800 7,200 7,200
Head office and
other operations 1,200 900 900
Total Group permanent and
fixed-term contract staff worldwide 122,600 113,300 78,400
Agency staff worldwide 9,100 7,000 4,300
Total including agency staff 131,700 120,300 82,700
2006/05
Staff numbers are shown on a full-time equivalent basis. Total Group
permanent and contract staff comprised 62,400 (31st December
2005: 59,100) in the UK and 60,200 (31st December 2005: 54,200)
internationally.
UK Banking staff numbers increased 1,300 to 41,100 (31st December
2005: 39,800), primarily reflecting the inclusion in UK Retail Banking of
mortgage processing staff involved in activities previously outsourced.
Barclaycard staff numbers rose 800 to 8,600 (31st December 2005:
7,800), reflecting growth of 400 in Barclaycard US and increases in
operations and customer-facing staff in the UK.
International Retail and Commercial Banking increased staff numbers
2,600 to 48,000 (31st December 2005: 45,400). International Retail and
Commercial Banking – excluding Absa increased staff numbers by
1,400 to 14,100 (31st December 2005: 12,700), mainly due to
growth in continental Europe and Africa. International Retail and
Commercial Banking – Absa increased staff numbers by 1,200 to
33,900 (31st December 2005: 32,700), reflecting continued growth
in the business.
Barclays Capital staff numbers increased 3,300 during 2006 to 13,200
(31st December 2005: 9,900) and included 1,300 from the acquisition
of HomEq. Organic growth was broadly based across all regions and
reflected further investments in the front office, systems development
and control functions to support continued business expansion.
Barclays Global Investors increased staff numbers 400 to 2,700
(31st December 2005: 2,300) spread across regions, product groups
and support functions, reflecting continued investment to support
strategic initiatives.
Note
(a) For 2005, this reflects the period from 27th July until 31st December 2005.