Latest BCI Score
The ability to be innovative in an entrepreneurial environment maintains employee interest at Macquarie Bank. Founded in 1985 the organisation provides specialist investment banking and financial services worldwide and has a staff of more than 6,800 people in 23 countries.
Macquarie operates a flat non-hierarchical management structure that allows even the most junior member of staff to interact with senior people in the organisation. The company claims to be "highly meritocratic", which is demonstrated by the number of very young employees who hold senior management positions within the bank.
Employees and their families are entitled to private healthcare. All staff benefit from performance and profit-related pay. According to our survey the workforce is happy with pay and benefits — giving the firm a 70% positive score for this measure which ranks it in the top quartile — and they feel good performance is appropriately rewarded (76%).
Personal development is driven by the individual staff member, who is expected to seek out opportunities and present ideas to the bank, a process known as freedom within boundaries. In our survey employees say their job is good for personal growth (81%) and believe they can make a valuable contribution to the success of the business (77%).
One of the pioneers of corporate philanthropy in its native Australia, the bank has its own charitable foundation and has entered into a partnership with the Prince's Trust to enable unemployed adults to set up their own businesses, offering low interest rates on start-up loans and mentoring support.
Employees volunteer in many different areas, taking on duties as diverse as giving clerical support to packing food parcels and spending time with people in need. The bank recognises outstanding staff contributions by donating thousands of pounds each year to a charity of their choice, resulting in the large majority saying they are proud to work for the organisation (81%).
The firm provides staff with flexible working options, including the technology to work from home. Other programmes include employee access to 24-hour counselling services. A variety of social activities for employees and their families includes a summer barbecue and a Christmas party.
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