The rewards of investing in the best interests of its shareholders, customers, employees and wider stakeholders are outlined in Aberdeen Asset Management’s annual Corporate Responsibility Report released on December 31.
Attracting and retaining talent and creating an inclusive environment remain a key areas of focus for Aberdeen and this is demonstrated through a range of results including:
- Absenteeism per Aberdeen employee is 2.6 days per annum compared with the national UK average of 4.4 (Office for National Statistics) and 2.9 in the USA (Bureau for Labor Statistics)
- Employee turnover rate (unplanned) was 10% compared with a UK average of 15% and global estimates ranging from 20 to 23% (Hay Group/centre for Economics and Business Research)
- Average 28 hours training per annum (up 7.7% from 2014)
- 109 salaried interns employed in Aberdeen, Edinburgh, London, New York, Philadelphia and Toronto
- 41 graduates employed – since the graduate programme began in 1994, a total of 219 graduates have been recruited and 154 (more than 70%) still remain at the company
- Seven apprenticeships created
- 10 individuals hired on the investment 2020 scheme which aims to bring more diverse talent into all aspects of investment management
- 13 work placements through the Social Mobility Foundation, a charity which aims to make a practical improvement in social mobility for young people from low income backgrounds. It provides opportunities and support for 16 – 17 year olds who are unable to get this assistance from their families.
- Total workforce breakdown of 54% male and 46% female with 65% male and 35% female managers
Aberdeen has also released figures on its charitable giving in 2015. The firm has donated a total of £1.6million to charitable causes globally and celebrated being the Best Foundation at the Corporate Engagement Awards in recognition of its unique global approach and commitment of Aberdeen offices globally.
- 200 employees from 20 cities across the world took part in a range of local community projects on Global Give and Gain Day
- Aberdeen continued with its Emerging Markets grant programme which makes long term investments to charities supporting the education of underprivileged young people - including Action for Brazil’s Children (AABC Trust); SeeBeyondBorders (SBB) in Cambodia; Afrikids (Ghana); and ChildHope (Peru)
- Staff continued to be offered overseas volunteering opportunities – to date employees have volunteered in Brazil, Cambodia and Ghana
Andrew Laing, Deputy Chief Executive and Chair of the corporate responsibilities and culture committees at Aberdeen says, “We apply the same approach to our own business as we do as an investor. If we want to succeed over the longer term we need to ensure that customers continue to trust Aberdeen to manage their money; that we can provide an inclusive working environment in which to recruit, develop and retain talented and motivated colleagues; and that we can generate value for our investors by appropriately managing our risks and seizing opportunities.”
Investing responsibly remains a key focus for Aberdeen and increasingly the firm is integrating the assessment of material environmental, social and governance (ESG) factors into investment decisions across the four asset classes of equities, fixed income, property and solutions. While the approach adopted differs by asset class, assessing investments from an ESG perspective is a crucial element of Aberdeen’s long term view.
Martin Gilbert, chief executive of Aberdeen Asset Management says, “Responsibility comes with the job of investing other people’s money. At Aberdeen we are committed to exercising responsible ownership with a conviction that companies adopting best practices in corporate governance and risk management will be more successful in their core activities and deliver enhanced returns to shareholders. On the ground legwork, meeting and comprehensively assessing potential investments around the globe remains vital to us. We take a long term mindset as we believe that cutting in and out of investments is just playing fast and loose with people’s money. We always remember that we are investing other people’s money and that we have a stewardship role acting as an involved owner of investments. We adopt the mindset of ‘owner’ rather than ‘trader’.”
The report can be accessed here.