HSBC 2012 Annual Report Download - page 337

335
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
policies and processes for managing credit, liquidity
and market risk are described in the ‘Risk’ section;
and HSBC’s approach to capital management and
allocation is described in the ‘Capital’ section.
Employees
At 31 December 2012 we had a total workforce of
270,000 full-time and part-time employees compared
with 298,000 at the end of 2011 and 307,000 at the
end of 2010. Our main centres of employment are
the UK with approximately 48,000 employees, India
30,000, Hong Kong 28,000, Brazil 23,000, mainland
China 18,000, Mexico 18,000, the US 17,000 and
France 10,000.
In the context of the current global financial
services operating environment, a high performance
and values-led work force is critical. We encourage
open and honest communication in decision making.
Employment issues and financial, economic,
regulatory and competitive factors affecting
HSBC’s performance are regularly shared with
our employees.
Global People Survey
In 2012, quarterly Pulse Surveys were introduced
to assess in a more timely way the understanding and
execution of our Group strategy, our culture, our
performance and the engagement of our people
generally. Every three months, a quarter of the
Group’s employees are randomly sampled and hence
all employees are covered over the course of the
year. A Global People Survey will take place
biennially, the next one being in 2013.
Over 2012, the Group strategy index score
improved by 2% to 54% in the fourth quarter and the
average participation rate was 56%, which is around
median for comparable surveys externally.
Reward
Our approach to reward is meritocratic and market
competitive, underpinned by an ethical and values
based performance culture which aligns the interests
of our employees, shareholders, regulators and
customers. See ‘Employee share plans’ on pages 336
to 337.
Employee relations
We negotiate and consult with recognised unions as
appropriate. The five highest concentrations of union
membership are in Argentina, Brazil, mainland
China, Malta and Mexico. It is our policy to
maintain well-developed communications and
consultation programmes with all employee
representative bodies and there have been no
material disruptions to our operations from labour
disputes during the past five years.
Diversity and inclusion
HSBC is committed to building a values-driven high
performance culture where all employees are valued,
respected and where their opinions count. We remain
committed to meritocracy, which requires a diverse
and inclusive culture where employees believe that
their views are heard, their concerns are attended
to and they work in an environment where bias,
discrimination and harassment on any matter,
including gender, age, ethnicity, religion, sexuality
and disability are not tolerated and where
advancement is based on objectivity. Our inclusive
culture helps us respond to our diverse customer
base, while developing and retaining a secure supply
of skilled, committed employees. Our culture will be
strengthened by employing the best people and
optimising their ideas, abilities and differences.
Oversight of our diversity and inclusion agenda
and related activities resides with executives on the
Group Diversity Committee, complemented by the
Group People Committee and local People/Diversity
Committees.
Staff development
The development of employees in both developed
and emerging markets is essential to the future
strength of our business. We have implemented a
systematic approach to identifying, developing
and deploying talented employees to ensure an
appropriate supply of high calibre individuals with
the values, skills and experience for current and
future senior management positions.
In 2012, we continued to build global
consistency across our learning curricula and to
improve the relevance and quality of learning
programmes. We have endeavoured to achieve a
standard of excellence focusing on leadership,
values and technical capability.