Barclays 2007 Annual Report Download - page 53

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Business review
Barclays PLC Annual Report 2007 51
Staff costs
2007 2006 2005
£m £m £m
Salaries and accrued incentive payments 6,993 6,635 5,036
Social security costs 508 502 412
Pension costs
– defined contribution plans 141 128 76
– defined benefit plans 150 282 271
Other post-retirement benefits 10 30 27
Other 603 592 496
Staff costs 8,405 8,169 6,318
2007/06
Staff costs increased 3% (£236m) to £8,405m (2006: £8,169m).
Salaries and accrued incentive payments rose 5% (£358m) to £6,993m
(2006: £6,635m), reflecting increased permanent and fixed term
staff worldwide.
Defined benefit plans pension costs decreased 47% (£132m) to £150m
(2006: £282m). This was mainly due to lower service costs.
2006/05
Staff costs increased 29% (£1,851m) to £8,169m (2005: £6,318m).
The inclusion of Absa contributed staff costs of £694m (2005a: £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%.
Staff numbers
2007 2006 2005
UK Banking 41,200 42,600 41,100
UK Retail Banking 32,800 34,500 33,300
Barclays Commercial Bank 8,400 8,100 7,800
Barclaycard 7,800 8,500 7,700
IRCB 58,300 47,800 45,200
IRCB – ex Absa 22,100 13,900 12,500
IRCB – Absa 36,200 33,900 32,700
Barclays Capital 16,200 13,200 9,900
Barclays Global Investors 3,400 2,700 2,300
Barclays Wealth 6,900 6,600 6,200
Head office functions and
other operations 1,100 1,200 900
Total Group permanent staff
worldwide 134,900 122,600 113,300
2007/06
Staff numbers are shown on a full-time equivalent basis. Total Group
permanent and fixed term contract staff comprised 61,900 (2006:
62,400) in the UK and 73,000 (2006: 60,200) internationally.
UK Retail Banking headcount decreased 1,700 to 32,800 (2006: 34,500),
due to efficiency initiatives in back office operations and the transfer of
operations personnel to Barclays Commercial Bank. Barclays Commercial
Bank headcount increased 300 to 8,400 (2006: 8,100) due to the transfer
of operations personnel from UK Retail Banking and additional investment
in front line staff to drive improved geographical coverage.
Barclaycard staff numbers decreased 700 to 7,800 (2006: 8,500), due to
efficiency initiatives implemented across the UK operation and the sale of
part of the Monument card portfolio, partially offset by an increase in the
International cards businesses.
International Retail and Commercial Banking staff numbers increased
10,500 to 58,300 (2006: 47,800). International Retail and Commercial
Banking – excluding Absa staff numbers increased 8,200 to 22,100 (2006:
13,900) due to growth in the distribution network. International Retail and
Commercial Banking – Absa staff numbers increased 2,300 to 36,200
(2006: 33,900), reflecting growth in the business and distribution network.
Barclays Capital staff numbers increased 3,000 to 16,200 (2006: 13,200)
including 800 from the acquisition of EquiFirst. This reflected further
investment in the front office, systems development and control functions
to support continued business expansion. The majority of organic growth
was in Asia Pacific.
Barclays Global Investors staff numbers increased 700 to 3,400 (2006:
2,700). Headcount increased in all geographical regions and across
product groups and the support functions, reflecting continued
investment to support further growth.
Barclays Wealth staff numbers increased 300 to 6,900 (2006: 6,600)
principally due to the acquisition of Walbrook and increased client facing
professionals.
Note
aFor 2005, this reflects the period from 27th July until 31st December 2005.