RBS 2011 Annual Report Download - page 301

RBS Group 2011 299
On 19 April 2011, the Group announced the proposed transfers of a
substantial part of the business activities of RBS N.V. to the Royal Bank.
Subject to, among other matters, regulatory and other approvals and
procedures, it is expected that the transfers will be implemented on a
phased basis over a period ending 31 December 2013. A large part of the
transfers is expected to have taken place by the end of 2012.
On 17 October 2011, the Group completed the transfer of a substantial
part of the UK activities of RBS N.V. to the Royal Bank pursuant to Part
VII of the UK Financial Services and Markets Act 2000.
Approximately 98% of the issued share capital of RFS Holdings B.V. is
held by the Group.
Business divestments
To comply with EC State Aid requirements the Group agreed a series of
restructuring measures to be implemented over a four year period from
December 2009. This supplements the measures in the strategic plan
previously announced by the Group. These include divesting RBS
Insurance, 80.01% of Global Merchant Services (largely completed in
2010) and substantially all of RBS Sempra Commodities JV business
(completed in 2010), as well as divesting the RBS branch-based
business in England and Wales and the NatWest branches in Scotland,
along with the Direct SME customers across the UK.
Employees
As at 31 December 2011, the Group employed over 146,800 employees
(full-time equivalent basis) throughout the world. Details of employee
related costs are included in Note 3 on the consolidated accounts.
The Group operates certain employee share plans in which eligible
employees are able to participate and which align the interests of
employees with those of shareholders.
Employee learning and development
The Group maintains a strong commitment to providing all its employees
with the opportunity to grow through learning and development, which in
turn helps to achieve business objectives and drive excellent customer
service. Employee Volunteering schemes make it easy for individuals and
teams to give something back to their communities and make a real
difference.
Employee communication
Employee engagement is encouraged through a range of communication
channels, at both divisional and Group level. These channels provide
access to news and information in a number of ways, including the
intranet, magazines, video, team meetings led by line managers,
briefings held by senior managers and regular dialogue with employees
and employee representatives.
The Group Chief Executive and other senior Group executives regularly
communicate with, and encourage feedback from, employees across a
range of channels.
Employee feedback
Every year since 1999, through the Your Feedback survey, employees in
all our businesses have shared their thoughts about what it’s like working
for RBS. These insights inform what the Group needs to do to improve
the way it works, whether it’s a local issue or something that affects
everyone. Apart from an opportunity to listen to employees, the survey
also enables the Group to monitor levels of employee satisfaction and
engagement and how these compare with other companies.
Employee consultation
The Group recognises employee representative organisations such as
trade unions and work councils in a number of businesses and countries.
The Group has two European employee fora that provide elected
representatives with an opportunity to understand better its European
operations.
Diversity and inclusion
During 2011, the Group executive renewed its commitment to make
workplace policies, processes and experiences inclusive for staff,
customers and stakeholders.
Inclusion is built into the recruitment process, positive action programmes
developing talent, flexible working policies and support for ill-health and
disability-related absence. The Group continues to support disabled
people ensuring they have equal opportunities to recruitment,
employment, promotion and training.
The Group supports employee led networks such as Focused Women
and Rainbow who support personal and career development through
networking and training events.
This commitment to inclusion extends to supporting and participating in
positive action programmes outside of the Group aimed at cultivating
future leaders including, ‘An Inspirational Journey’, the FTSE-100 cross-
company mentoring and Glass Ladder programmes. The Group
maintains its involvement with external charitable networks and events
such as Manchester Pride.
This approach to inclusion extends to the marketplace with the RBS
Women in Business Ambassadors who support and guide more and
more women to take the step of starting their own business.
Performance is monitored and reviewed at Group and divisional level and
RBS is supportive of the recommendations of Lord Davies' Report. There
are currently three female directors on the Board out of a total of 13
directors. The Group expects to meet the aspirational target of 25 per
cent female Board representation in 2012. As at 31 December 2011, 18
per cent of executives in the Group and 53 per cent of employees were
female.
Further details on the Board diversity policy can be found on page 262 .